How do you keep your Bitcoin safe as a beginner

[qwertyup23]

For the pros and experienced investors in the house, what are your advice for keeping Bitcoin safe as a beginner?

If you are a beginner investor, it is essential to know the following in order to protect your BTCs from being scammed or stolen:

• Avoid entertaining any PMs or messages from random strangers asking you to download any suspicious links or wallets;
• Avoid entering into random Telegram channels or investing group;
• Never invest in a project promising you guaranteed returns on a specific date with high interest rates (ponzi scheme)
• If you have the means, purchase a hardware wallet to keep your BTCs stored;
• Watch videos on YouTube or read materials that teaches you how to keep your seed phrases; and
• Read forum threads and comments about relevant guides by utilizing the search bar on the upper-right hand corner of this screen

Those are some of the things that I have learned and encountered in the past throughout my journey. Like what I also have mentioned, avoid replying to any random PMs from unknown persons asking you to join any of their channels or asking you to invest in a certain project. Remember, keeping your BTCs safe means that you are also responsible enough to NOT fall into any of the known scams in the crypto world.

[2Pizza410000BTC]

As someone who just got into Bitcoin and is still yet to know more about Bitcoin, one thing I keep hearing especially in this platform is about security. I get that losing or misplacing your seed phrase or wallet means it's all over.

But many options are there making it really hard for us that are just starting, like the hardware wallets, mobile wallets, cold storage, multisig, it all gets really confusing fast.

For the pros and experienced investors in the house, what are your advice for keeping Bitcoin safe as a beginner?

As a newbie, to keep his Bitcoin investment safe, he must keep his Bitcoin seed phrase safe where no second or third person can see it except that person. If he can keep the seed phrase of the wallet he is holding safe, then his investment will be safe, but it does not end here. How he stores his seed phrase is his personal matter, not just his, but everyone's personal matter because many people engrave it on something made of metal and then store it in a safe place, while many people write the seed phrase in a notebook and store it, but it can be according to their convenience. However, I have written the seed phrase of my wallet in a notebook and stored it in a very safe place where no one except me will have access.

[Zanab247]

I believe you know that security is very important to every one in this community. If you ignore security show that it will be hard for you to enjoy your reward, because no matter coins you store in your unsafe wallet it will make you regret for ignoring security because scammers will surely have their way in the wallet.

You can keep your BTC safe by creating electrum wallet which is the wallet I have used since I joined this community, and it hard for scammers to steal coins from people wallets but it is very solid compare to other wallet that is easy for other scammers to have their way to people coins.

[Humblevirus]

As someone who just got into Bitcoin and is still yet to know more about Bitcoin, one thing I keep hearing especially in this platform is about security. I get that losing or misplacing your seed phrase or wallet means it's all over.

But many options are there making it really hard for us that are just starting, like the hardware wallets, mobile wallets, cold storage, multisig, it all gets really confusing fast.

For the pros and experienced investors in the house, what are your advice for keeping Bitcoin safe as a beginner?

Proper knowledge is the key to keeping our Bitcoin safe. When you have deep knowledge about Bitcoin and Bitcoin security, I think it’s not hard to keep your Bitcoin safe. So as newbies, I would advise them to learn properly before starting their Bitcoin investment. When you have the right knowledge, you will know the best wallet to use and the proper processes to keep your Bitcoin safe. Some people have used the right wallet to store their Bitcoin, but because of the knowledge they lack, they later end up losing their Bitcoin—whether through scammers or other means.

[Ojima-ojo]

First thing to do is to make surely you have a wallet that is secured and grant your the control and access, for me I prefer to hold my Bitcoin in a blue wallet if I am using online wallet, since I have no offline wallet yet to start with, but at most I prefer to hold my Bitcoin off the exchange to avoid losing them or having no control to my Bitcoin whenever I may want to move them Around.

[348Judah]

Keeping our bitcoin safe do with understanding how the bitcoin security and privacy works, because this will be what will lead to making the right choice of wallet category to use and how to maintain high measure in preventing scam occurrence, most of the mistake made are done by those with little or no experience of Bitcoin network and it's security measures, but when we know much of these, to fall a victim will be very difficult.

[knowngunman]

As someone who just got into Bitcoin and is still yet to know more about Bitcoin, one thing I keep hearing especially in this platform is about security. I get that losing or misplacing your seed phrase or wallet means it's all over.

But many options are there making it really hard for us that are just starting, like the hardware wallets, mobile wallets, cold storage, multisig, it all gets really confusing fast.

For the pros and experienced investors in the house, what are your advice for keeping Bitcoin safe as a beginner?

Perhaps, you're just getting started and that's why you perceived it as hard and confusing. Trust me, it's more simple and easier to understand than reciting ABC. You don't need to make use of all these wallets you mentioned at once. You should consider some factors before making your choice in selecting a wallet to use. Convenience and easy accessibility shouldn't be overlooked.

I don't know how you intend to manage your asset. Either for daily spending or long term holding. This should help you choose the appropriate wallet too. Hardware and cold storage are good for long term holding since they possess high security and not vulnerable to online attacks. Multisig is not that popular since we assume it is best for partnership holding. Mobile wallets are the most convenient and most vulnerable to attack. They are best for small holding and daily transactions.

Whatever the choice you make, protect your keys.

[Justbillywitt]

As a beginner that want to keep your bitcoin safe, do not to keep your bitcoin in an exchange wallet. Download your personal wallet and set up your account and store your seed phrase securely were only you can access. That is just the only way to keeping your bitcoin safe. The choice of wallet to use is yours to make. And that your wallet should be in a separate device you don't move around with all the time. It should be a device you only use when you are at home.

[Peanutswar]

I cannot say im good already with the crypto space but continuously learning, as of now if you dont have the capability to buy your hardware wallet or the cold wallet we have the hot wallet right there and one of the trusted is with the use of the Electrum, which you can download directly to their platform could be an mobile application or with the use of their desktop application if your goal is to store only but of course sooner or later you have the capability now to buy your own hardware wallet this will be ideal because there's a device confirmation before the transaction comitted this will avoid unessary transactions too, also like we keep saying is dont store most of your funds into an exchange because we keep saying the "Not your keys, not your coins" if you have the full utiliziation of the account or wallet its not yours so better store into a wallet if you are not actively trades a coin.

[Cookdata]

As a beginner that want to keep your bitcoin safe, do not to keep your bitcoin in an exchange wallet. Download your personal wallet and set up your account and store your seed phrase securely were only you can access. That is just the only way to keeping your bitcoin safe. The choice of wallet to use is yours to make. And that your wallet should be in a separate device you don't move around with all the time. It should be a device you only use when you are at home.

There is nothing will makes me to like centralized exchange wallet. Sometimes I do ask why people prefer to exchange as wallet when it's meant to trade and do one or two things. It's not a place to keep coins unless you are holding a coin that is going to be sold or you have other plans to use the exchange in short period later. I see some exchanges want people to stake their coins by given high APR, I don't understand the use of trying to convince people reward to keep coins stake on exchange wallet.

There are plenty of ways exchange can decide to keep your and you have no right to fight for it unless you contact their support to it to be reviewed, such doesn't happen with your own wallet, your seed is your Bitcoin.

[Tbillion]

Has a beginner how to keep your Bitcoin safe.first of all learn about it have good understand or knowledge about bitcion then have a two authenticator factor.have a very good and strong password.be very alert on any demands on a system you use in accessing your wallets,back up wallets and make sure your seed phrase is store in a safe and private location.

[Hardyrobust]

As a beginner that want to keep your bitcoin safe, do not to keep your bitcoin in an exchange wallet. Download your personal wallet and set up your account and store your seed phrase securely were only you can access. That is just the only way to keeping your bitcoin safe. The choice of wallet to use is yours to make. And that your wallet should be in a separate device you don't move around with all the time. It should be a device you only use when you are at home.

Exactly, keeping bitcoin in an exchange wallet is exposing it to a greater risk. The best wallet that is safe for holding bitcoin for a long time is non custodial wallet. Infact not just it is secured, it offers a kind of freedom that custodial wallet didn't
Also how we store our seed phrase is also very important because the safety of our bitcoin depends on how we store our seed phrase. If our seed phrase isn't secure the tendency of losing our bitcoin will be very high. Offline storage will be more secure way of storing seed phrase and yes it won't be a good thing for the device to be something that we will be travelling with or moving around with.

[Y3shot]

As a beginner that want to keep your bitcoin safe, do not to keep your bitcoin in an exchange wallet. Download your personal wallet and set up your account and store your seed phrase securely were only you can access. That is just the only way to keeping your bitcoin safe. The choice of wallet to use is yours to make. And that your wallet should be in a separate device you don't move around with all the time. It should be a device you only use when you are at home.

Apart from exchange wallet that is not secure and reliable, having other wallets doesn't just guarantee safety by just having it. You just need to understand that the responsibility of keeping the seedphrase of the wallet is in your hands and if you are not able to to protect your wallet well by keeping the seedphrase in the appropriate place,  someone else can have access to your wallet and steal your fund. Learning how how to protect wallet and seedphrase is very important.

[uche6215]

Op I wish you take your time and read all the comments in this thread and follow up the advise and the suggestions people gave so you can secure your seed phrase and Wallet. And if you answer you want has been answered then it is good you lock the thread. In the investment of bitcoin one crypto, the security is the most important thing to do. Make sure you keep away from keeping your exchange. You can only use it to trade at once and once it is done you left the exchange and don't keep anything there and keep all your coins in the non custodial wallets.

[Abu-Naim]

But many options are there making it really hard for us that are just starting, like the hardware wallets, mobile wallets, cold storage, multisig, it all gets really confusing fast.

For the pros and experienced investors in the house, what are your advice for keeping Bitcoin safe as a beginner?

Because of how confusing these wallets are, that’s why as a newbie, you need to wait and learn about most of these basic things before you start your investment journey because it will be helpful and protect you from losing your Bitcoin due to ignorance. Nothing is painful than losing money to something you should have controlled if you have learn before investing, because Bitcoin or crypto transactions are not reversible, therefore, to rush and invest is not the main solution, stay and learn before investment.

Learn about wallets, keys and address, blockchain, and Bitcoin technology as a beginner, it will guide you in your Investment journey and risk management as well as decision making especially in choosing the right wallet for your Bitcoin.

[Porfirii]

But many options are there making it really hard for us that are just starting, like the hardware wallets, mobile wallets, cold storage, multisig, it all gets really confusing fast.

For the pros and experienced investors in the house, what are your advice for keeping Bitcoin safe as a beginner?

Because of how confusing these wallets are, that’s why as a newbie, you need to wait and learn about most of these basic things before you start your investment journey because it will be helpful and protect you from losing your Bitcoin due to ignorance. Nothing is painful than losing money to something you should have controlled if you have learn before investing, because Bitcoin or crypto transactions are not reversible, therefore, to rush and invest is not the main solution, stay and learn before investment.

Learn about wallets, keys and address, blockchain, and Bitcoin technology as a beginner, it will guide you in your Investment journey and risk management as well as decision making especially in choosing the right wallet for your Bitcoin.

I agree that knowledge is key for the management of your Bitcoins, and that every newbie should learn before putting his hand on them, but some options are quite safe and easy to use. In that sense, if you want to invest a few hundred dollars, or more, a hardware wallet will do the job for a few bucks until you learn more.

[DYING_S0UL]

But many options are there making it really hard for us that are just starting, like the hardware wallets, mobile wallets, cold storage, multisig, it all gets really confusing fast.

For the pros and experienced investors in the house, what are your advice for keeping Bitcoin safe as a beginner?

Because of how confusing these wallets are, that’s why as a newbie, you need to wait and learn about most of these basic things before you start your investment journey because it will be helpful and protect you from losing your Bitcoin due to ignorance. Nothing is painful than losing money to something you should have controlled if you have learn before investing, because Bitcoin or crypto transactions are not reversible, therefore, to rush and invest is not the main solution, stay and learn before investment.

Learn about wallets, keys and address, blockchain, and Bitcoin technology as a beginner, it will guide you in your Investment journey and risk management as well as decision making especially in choosing the right wallet for your Bitcoin.

I agree that knowledge is key for the management of your Bitcoins, and that every newbie should learn before putting his hand on them, but some options are quite safe and easy to use. In that sense, if you want to invest a few hundred dollars, or more, a hardware wallet will do the job for a few bucks until you learn more.

And despite following all these safety measurements, we still see people (not only newbies but those who has been in crypto space for years) falling victim to crypto hacks. For example this, Hacker hacked 1210000 XRP, which is about $3 million at the current market price. That's why I believe in the "Don't put all your eggs in the same basket" phrase. I mean even if one is using things like HW, Cold storage, Multisig or whatever, accidents can happen, intentionally unintentionally but it can. Won't you agree? 

[RockBell]

I believe you know that security is very important to every one in this community. If you ignore security show that it will be hard for you to enjoy your reward, because no matter coins you store in your unsafe wallet it will make you regret for ignoring security because scammers will surely have their way in the wallet.

If not for security I don't see how Bitcoin would have safe enough for people to be able to invest so the security have given everyone a choice on how they want to keep there seed phrase safe because the developers have done there own part so the remaining is for the owner of the wallet because no one will be accountable for it except the person managing it, this is something you don't want to ignore because it will come with a lot of regret and when you are holding your seed phrase you have to hold it tight.

You can keep your BTC safe by creating electrum wallet which is the wallet I have used since I joined this community, and it hard for scammers to steal coins from people wallets but it is very solid compare to other wallet that is easy for other scammers to have their way to people coins.

Electrum wallet is one of the most recommended wallet for people to keep there bitcoin and that way you won't have to worry about the safety of you coins because it is now in your possession so what ever happens then you are responsible for it. And even scammers having assets most of them are the once making mistakes and it is out of greed because there format of scamming people is something that can easily be dedicated. But they want to make quick money which will notast.

[Ojima-ojo]

As a beginner that want to keep your bitcoin safe, do not to keep your bitcoin in an exchange wallet. Download your personal wallet and set up your account and store your seed phrase securely were only you can access. That is just the only way to keeping your bitcoin safe. The choice of wallet to use is yours to make. And that your wallet should be in a separate device you don't move around with all the time. It should be a device you only use when you are at home.

Several beginners have trust in exchange wallets for sometimes now and that have affected them alot for some reasons, most especially if and when you move out your coin to your own wallet, I hard a case of the guy who hard alot of Money on his Centralized exchange and his account got frozen because of ilhe received a small amount from a Bitcoin mixer's.

So for some reason if is not your key's, then is not your coins in the end, that is what we must come to agreement with.

[khaled0111]

And despite following all these safety measurements, we still see people (not only newbies but those who has been in crypto space for years) falling victim to crypto hacks. For example this, ... I mean even if one is using things like HW, Cold storage, Multisig or whatever, accidents can happen, intentionally unintentionally but it can. Won't you agree?  

I totally agree with you. Even if you use a hardware wallet or any other form of air-gapped storage, there is still a chance that your wallet can be hacked and your coins stolen. That is why is recommended to keep your coins on mltiple wallets. For example, you can keep like 30% of your coins in one wallet, 30% in another and so on. This way, if one of your wallets gets hacked, you won’t lose much.
Honestly, I can’t blame newbies who prefer to keep their coins on exchanges. They don’t know much about self-custodial wallets, so we can’t really blame them.