Security! Security! Security!

[CTO114]

Security is always a vital component.

What's the most common security mistakes new Bitcoiners make?

How can they be avoided?

[Oshosondy]

The most security mistake that I noticed around people that I know is that they are having their bitcoin wallet on their mobile devices. I hope that one day, there will not be a vulnerability that will make some of them lose their money which will not be their faults but the fault of using online wallets.

[348Judah]

The common ones start by that inexperience to know the best measures and precautions to take in the use of bitcoin, which may consist of choosing the wrong wallet, not having s proper storage for the keys, sharing devices with third party, using cloud storage or password manager for storing their wallet keys, sharing their information to the public, clicking malicious links, unnecessary downloads, phishing attacks and so many more, while to prevent them from happening.

we need to learn about security measures in using bitcoin always stay updated.

seeds backup tools
https://bitcointalk.org/index.php?topic=5263482.0

additional security to your seed phrase
https://bitcointalk.org/index.php?topic=5230920.0

wallets security and privacy mega threads
https://bitcointalk.org/index.php?topic=5509759.0

[Davidvictorson]

The most security mistake that I noticed around people that I know is that they are having their bitcoin wallet on their mobile devices. I hope that one day, there will not be a vulnerability that will make some of them lose their money which will not be their faults but the fault of using online wallets.

Hmmm, I am thinking about this in two ways. One, it is not a problem if they are the only ones with access to their mobile devices and they have enough knowledge on how to key it safe. These are for pros who have experience in security. It is just like people who know that they cannot keep their seedphrase and decide to trust centralized exchange with their bitcoins. They know and are ready for whatever the consequnces may be in the long term. The second way in which I am thinking about this in for those whom you are referring to- the absolute noobs. Yes, they are the ones making a huge security mistake. What do you think?

[nakamura12]

Another thing that I noticed is that some people are using tools to save their seed phrase and password. I don't know if you know about someone who got his crypto stolen because the tools he used is the one who made his seed phrase exposed to hackers.

[dkbit98]

What's the most common security mistakes new Bitcoiners make?

There are plenty of mistakes they are making but I can name few of them:
Holding coins on centralized exchanges, not saving or losing seedphrase backup, exposing seed words by entering them online in phishing websites, using custodial and closed source wallets, etc.

[Plaguedeath]

Aside from what other users said above, there are more like bought hardware wallet from unofficial sellers, not verify the PGP/GPG key when they install their wallet and flex/talk too much about Bitcoin to friends or social medias.

Another thing that I noticed is that some people are using tools to save their seed phrase and password. I don't know if you know about someone who got his crypto stolen because the tools he used is the one who made his seed phrase exposed to hackers.

Do you mean something like password manager? yeah there was a malware that could attack almost password managers including the one that known trusted and reputable by many people. So yeah, I think it's better for people to not use any password manager.

[$crypto$]

Common mistakes that often cause them to lose all their assets due to insufficient security measures.

Storing bitcoin assets in a hot wallet.
Storing seed phrases online, such as on Google Drive and Dropbox.
Storing seed phrases on PCs that may be infected with malware.

There are many cases of security mistakes.

[jcojci]

Always be careful when reading the news and double check or compare with others so you know the truth. Do not trust what you see but verify it before you decide. Being responsible with your wallet and your assets is a must.

That will be related to the security and most of them don't pay attention to the passphrase, wallet or anything else related to their investment. Once that is gone, they become panicked and will not see how they can recover it.

[SOKO-DEKE]

What's the most common security mistakes new Bitcoiners make?

Based on my observation with new Bitcoiners, the most common mistake is storing their Bitcoin in exchanges. They seem to place too much trust in these platforms to hold their Bitcoin, even though many of them know there are ways to store their Bitcoin and have full control over it.Another common mistake is that most of them save their data on their phones. The problem is, phones can get lost or damaged  and if that happens, they could lose access to their wallets. This can lead to the loss of their Bitcoin, especially if their seed phrase is stored only on the device.Most people who lose their Bitcoin do so because of these common mistakes

[bitzizzix]

In my opinion, the most common security mistake beginners make, and one I experienced when I first started using Bitcoin, is sending Bitcoin to the wrong address. This is a relatively rare mistake, as it's simply a matter of copying a Bitcoin address, memorizing the first few digits and the last few letters, and then pasting it in. However, mistakes can happen due to rushing, potentially copying the wrong address. This happened to me once, resulting in permanent financial loss and an irreversible Bitcoin transaction. Therefore, it's important to take the time and pay close attention before sending Bitcoin to ensure it's going to the intended address.

[moneystery]

Security is always a vital component.

What's the most common security mistakes new Bitcoiners make?

How can they be avoided?

They store their seed phrases in online storage. This is one of the riskiest ways to store your seed phrases. No matter how secure online storage is, it's still held by a third party and carries the risk of unauthorized access, such as hacking or data leaks, which increases the risk of losing your Bitcoin assets.
Just avoid storing your seed phrases online, as no matter what they claim, they don't guarantee the security of your seed phrases.

[Rikafip]

The most security mistake that I noticed around people that I know is that they are having their bitcoin wallet on their mobile devices.

That’s not necessarily a mistake, as long as you don’t use it to store a large amount of bitcoin. But unfortunately, many do exactly that.

For example, I have a bitcoin wallet on my mobile phone, but I never keep more than a few hundred dollars worth of bitcoin on it, since I just like to have a little bit on me, just in case.

[hyudien]

The most security mistake that I noticed around people that I know is that they are having their bitcoin wallet on their mobile devices. I hope that one day, there will not be a vulnerability that will make some of them lose their money which will not be their faults but the fault of using online wallets.

This also happens around me, where some friends store their investments in centralized exchanges like OKX and Bybit. I've advised them to store them in a cold wallet or at least a hot wallet like Electrum. What was their response? They said their investment value was still small and they didn't have any intention of considering tighter security. Even though an investor should consider such a step because they don't know what will happen in the future, and also remember that the journey for them (beginners) is still long, especially if they only invest with a small DCA, meaning it takes about 10 years to truly experience the benefits of Bitcoin.

[Ahli38]

Security is always a vital component.

What's the most common security mistakes new Bitcoiners make?

How can they be avoided?

The most common security mistakes made by beginners are underestimating the importance of securing their wallets. I often encounter beginners who lose access to their wallets because they do not store their seed phrases securely or even forget to back them up. Therefore I suggest they should avoid these mistakes by taking independent action. And you should never use third parties, meaning you should perform backups that no one else can access. Avoid storing your seed phrase online or even on cloud storage. And suppose you are hiding your shame. So by that way you will consider all the possibilities that could lead to it being exposed.

[Gost ms]

The biggest mistake is not having basic knowledge about security. If we have basic knowledge about security, then we will not be a victim of hacking very easily. For example, if a friend or a person gives you a link and if you enter it without observing it, if there is malware in that link, then you can be a victim of hacking. So you have to be aware of what you are doing on your mobile or computer or whether the website you are entering is safe or not. You have to do a little research to see if it is safe. Because there are many valuable things on your mobile or computer.

If a person gives you a link, then you can check if there is any virus or malware in the link with that link. First of all, you have to be a conscious person. You have many valuable things in your wallet, if you are a victim of hacking, then all your valuable things can be stolen.

[Royal Cap]

The first one is that people think of exchanges in terms of wallets. They store all of their balance there since it is convenient but once the platform is hacked or the withdrawals are halted that convenience fades away. I think we should definitely use decentralized wallets for large and long term holdings.


The other one is to use weak passwords on various services. Besides, I have seen many people using the same password across numerous networks. This simplifies the process of hackers can hack other accounts when one of their accounts is hacked. I think the solution is simple, move coins to a wallet in your control, handwrite your seed phrase offline, and use your passwords as house keys each door has a different key.

[peter0425]

Security is always a vital component.

What's the most common security mistakes new Bitcoiners make?

How can they be avoided?

Not storing their seed phrases properly. They tend to be careless about this because they are confident that they will never need to find their seed phrases or that they won't have to protect it but when they are the most confident is when they are the weakest.

[goldkingcoiner]

Security is always a vital component.

What's the most common security mistakes new Bitcoiners make?

How can they be avoided?

1. Using the same device for cryptocurrency affairs as well as for regular internet activities.
2. Divulging important wallet info, such as seed phrase.
3. Using a web wallet.
4. Not trusting their gut feeling when it comes to scams.

There may be more security mistakes which I have not written down but those are the main ones. Avoiding these mistakes is easy as cake. But laziness prevents people from being safe.

[salad daging]

What's the most common security mistakes new Bitcoiners make?

How can they be avoided?

A common mistake I often hear from people is that they use a hot wallet [mobile] and then store their seed phrase on their mobile device -> and then their mobile device gets reset -> or their mobile device is lost so they can't access their bitcoin.

That's the most common mistake I hear about, but of course there are many other common mistakes.

You must be very disciplined about security and not take it lightly.
Especially when it comes to storing your seed phrase and device.