Pay more attention

[Outhue]

Pay more attention to security wise just as the attention given to Bitcoin accumulation.

Many people are accumulating Bitcoin as we speak but not many will hold Bitcoin successfully for the long term because they will become the next victim.

I am seeing too many people going all in on accumulating Bitcoin and when it's time to move their Bitcoin off a exchange they choose crappy way of keeping the Bitcoin. Something you are going to keep holding for a long period of time deserves all security attention it could get.

The safety of your Bitcoin is as important as your DCA strategy, scammers keep coming up with different methods and ways to keep draining people's wallet, don't turn into a lab rat (Become a Victim)  before you learn your lesson.

Go fully airgapped, you can tell me a thousand better way to keep your asset safe but nothing can beat airgapped crypto wallets.

[Mahiyammahi]

The best Practice to avoid scammer's is Do not interact with people who is giving you free lessons with your money & wallet.
Remember in this world everything has a price, so if you're thinking that someone is helping you without exchnage of anything that's totally wrong thing to do. Atleast in terms of money management, do not belive any strangers.

Cross check everything before doing anything, ask multiple user about this, then you should decide what would be you final steps towards this.

As for DCA , you don't need anyone. if anyone approch you just shut them off

[Aanuoluwatofunmi]

I am seeing too many people going all in on accumulating Bitcoin and when it's time to move their Bitcoin off a exchange they choose crappy way of keeping the Bitcoin. Something you are going to keep holding for a long period of time deserves all security attention it could get.

Scam is real, we must be able to understand that there is a need for us to learn more about the security measures needed for us to use bitcoin, also when it comes to exchanges, they are only good at buying bitcoin and jot for a long time storage, because exchanges are not wallets, we have to understand this and also know what the use of exchange could implicate on us over a long term use, move your asset to a non custodial wallet and avoid the risk of being affected by using one.

[Zaguru12]

The best Practice to avoid scammer's is Do not interact with people who is giving you free lessons with your money & wallet.
Remember in this world everything has a price, so if you're thinking that someone is helping you without exchnage of anything that's totally wrong thing to do. Atleast in terms of money management, do not belive any strangers.

Cross check everything before doing anything, ask multiple user about this, then you should decide what would be you final steps towards this.
 

Not because I know little for security that’s enough to keep me guided but I can say you don’t need to actually be asking around how to get your bitcoin on cold wallet, that alone exposes you, if you’re a member of this forum already those informations are readily available here. You can setup your own cold wallet on an airgapped device if you have the sufficient technical knowledge for that.

As for a total newbie you’re simply better off with an hardware wallet. There are great suggestions here on the forum who are open source and even airgapped. You can simply buy them and save yourself the stress as it is even more secure for you. Many look at the price of the hardware wallet and go against it and then later risk 10x of that amount on hot wallet or centralized exchanges.

Your bitcoin security is more important than even your DCA strategy in my opinion,

[Dunamisx]

Pay more attention to security wise just as the attention given to Bitcoin accumulation.

The best decision in not in bitcoin accumulation, but knowing how to safeguard the asset and also be profitable for its investment, a lot of people make mistakes unknowing to later discover what they would have avoided earlier, we must appreciate the presence of a platform like this that brings light to different aspects of bitcoin and crypto to be discussed broadly and openly for the benefit of each other, knowing the difference between a custodial wallet and non custodial wallet could be the first pathway to safeguard ourself from future panic of losing our coins and FOMO.

[Versatile_choice]

The best Practice to avoid scammer's is Do not interact with people who is giving you free lessons with your money & wallet.
Remember in this world everything has a price, so if you're thinking that someone is helping you without exchnage of anything that's totally wrong thing to do. Atleast in terms of money management, do not belive any strangers.

You're right about this, nowadays people don't offer services for free even though some people might want to do it for free but at the end they will still use other means to get something from you. alot of scammers has been using this method to scam people nowadays because they know that there are people who need help in different fields that is why they chose to disguise themselves as one of the professionals and also giving free lesson just to get people to participate in thier lesson at the end they start asking you to provide some certain details for practical. There's no free thing in this world anymore so we should not be deceived.

[Sim_card]

For those that cannot set up electrum cold storage on an airgapped device, when buying a hardware wallet make you that you get it directly from the manufacturer site and check it if it has been tampered with before using it. Safety doesn't stop at just buying a hardware wallet.

[Furball808]

The best Practice to avoid scammer's is Do not interact with people who is giving you free lessons with your money & wallet.

Due to desperation and sheer greed, people often fall for scams. Seems like they tend to forget what’s realistic and what’s not anymore for the sake of hoping they finally found something to benefit them. Like if someone were to offer free bitcoin in exchange of just your wallet and people actually give it. That’s just desperation of owning bitcoin.

[Miles2006]

A crypto air gapped wallet is a nice option mostly investors who don’t want any internet association, majority of scam practice are carried out using internet. Either novice fall to such scam involving sharing of password and seedphrase ignorantly, other than this fact investors can still make use of non custodial wallet with the term decentralized whereby investors are allowed freely to hold their private key unlike centralized probably anything can happen at any time, security is important besides without a proper security how can anyone hold successful.

[JoyMarsha]

Pay more attention to security wise just as the attention given to Bitcoin accumulation.

In this crypto space, paying attention to your Bitcoin accumulation and being security-conscious is essential if you truly want to succeed in long term accumulation of Bitcoin through DCA.

Don't forget to take note of how scammers operate to scam their victims. It will be unwise to let the unfortunate scamming experience of someone else happen to you when you have already heard of it and know the ways to simply avoid it, not being a victim of a scam.

[macson]

Many people only accumulate Bitcoin but they don't really understand how to secure their assets, so many of them lose their Bitcoin not because the price drops, but because of negligence in security, such as forgetting their passphrase or being phished.

If you plan to invest long-term, you need to understand Bitcoin security, especially now that hackers are so numerous and capable of exploiting even the smallest vulnerabilities.

The fully airgapped wallet option is the safest option for long-term holding. With this method one can minimize the risk of hacking significantly, and save themselves the headache of losing their assets.

[death69]

When you are first moving Bitcoin off an exchange. Your hands shake a little. You are triple checking the address even though you've already checked it twice. I expẹrience this myself. That fear is good actually. It means that you know what is at stake. Then, that fear disappears. People get comfortable. When they start thinking 'I will do it properly later' and later never comes because later always seems safer than now, does not it.

Airgap is the correct answer for many people and not for others. Some people will over complicate it and make new failure points trying to be too secure. I have seen it happen - just so elaborate some system setup then someone cannot remember which device has what, or where they stored the backup and suddenly the security becomes the problem.

The scammers know this. They know that we are all just trying to figure it out as we go. They know when you are not sure is the time you are vulnerable. And they are patient. They will wait until you get tired of being careful.

[SilverCryptoBullet]

I am seeing too many people going all in on accumulating Bitcoin and when it's time to move their Bitcoin off a exchange they choose crappy way of keeping the Bitcoin. Something you are going to keep holding for a long period of time deserves all security attention it could get.

DCA practice is a long time practice and people will need to withdraw their bitcoin many times. In addition, is it already recommended to practice with wallets with creation, backup, recovery and test funding with small money first?

If people follow the guide, they will not lose big bitcoin fund by mistake in their first withdrawal off an exchange.

Go fully airgapped, you can tell me a thousand better way to keep your asset safe but nothing can beat airgapped crypto wallets.

Fully airgapped is good but it's not mandatory and it's not the only way to store bitcoins safely.

You can use a non custodial, open source wallet with good passwords, keep your device clean, even not airgapped and will have secure storage for your bitcoin. If better, you can set up a multisig wallet for your Bitcoin storage, remember it will cost you more on chain transaction fees later.

[Hispo]

Ironically, scammers will continue to use the same old strategies to get to wallets of their victims, because most people continue to make the same mistakes which leads them to compromise their safety. They will continue to try and take control of Twitter accounts for the same of the old Bitcoin multiplying scam, they will also continuento spread malware on piracy websites and telegram channels, because the easiest victims are those who keep their Satoshis in hot wallets, on the very same desktop computer which is used to watch pirates movies and play pirated videogames.

I agree with the air gapped method to keep our Satoshis save, but it is also good to remember that is such a method which is not for everyone, if the user does not fully understand the advantages and the way to use air gapped wallets, they could still commit a very expensive mistake when trying to carry out a transaction.

[coinrifft]

Go fully airgapped, you can tell me a thousand better way to keep your asset safe but nothing can beat airgapped crypto wallets.

If I may add on this one: Might be better to used open source OS such as Linux Distro rather than Windows, it's close source and have a lot of vulnerabilities (https://www.beyondtrust.com/blog/entry/microsoft-vulnerabilities-report).

[boyptc]

Pay more attention to security wise just as the attention given to Bitcoin accumulation.

Many people are accumulating Bitcoin as we speak but not many will hold Bitcoin successfully for the long term because they will become the next victim.

I am seeing too many people going all in on accumulating Bitcoin and when it's time to move their Bitcoin off a exchange they choose crappy way of keeping the Bitcoin. Something you are going to keep holding for a long period of time deserves all security attention it could get.

The safety of your Bitcoin is as important as your DCA strategy, scammers keep coming up with different methods and ways to keep draining people's wallet, don't turn into a lab rat (Become a Victim)  before you learn your lesson.

Go fully airgapped, you can tell me a thousand better way to keep your asset safe but nothing can beat airgapped crypto wallets.

This is a good reminder for those who are not doing anything with how they're holding their Bitcoins.

They still think that exchanges are safe because they've been told that it's safu. But little did they know, it's not because no keys is handed to them.

And they're at the mercy of that centralized exchange if they get hacked or they suddenly file for bankruptcy and closure.

[Faisal2202]

Go fully airgapped, you can tell me a thousand better way to keep your asset safe but nothing can beat airgapped crypto wallets.

A lot of new people joining this forum and they definitely need to read this thread and understand how important security can be by reading the news about:
1. Bitcoin ATM scams.
2. Mobile wallet draining scams.
3. Reverse engineering methods by scammers.

A lot of scams has happened in this week already and they must keep an eye on the forum because this is where they can learn and be active and get the latest information.

[Alpha Marine]

As for a total newbie you’re simply better off with an hardware wallet.

Realistically, how many total newbies know about hardware wallets? As a total newbie, it's easier to just use a wallet on their device. As long as it's authentic and from the official site of the wallet, then they're all good. What matters is that they used a non-custodial wallet. As a newbie, they may not even know what open or closed source wallets are at that point.  All this is information they learn on their bitcoin journey.

Using myself as an example, I didn't know what a closed-source wallet was. All I knew was not keeping my coin in an exchange where I was not in control of it. The first wallet I used was Trust Wallet. I didn't even know it was a closed-source wallet. At the time, I thought as long as my coin was in a wallet where only I had the secret phrase, I was okay. It was later on that I learnt about open source, closed, hardware wallets and the rest.
So I feel as a newbie, as long as they put their coins in a non-custodial wallet and keep their private key/secret phrase safe, they can go on from there. The rest, they will pick it up along the way.

[Alone055]

A lot of scams has happened in this week already and they must keep an eye on the forum because this is where they can learn and be active and get the latest information.

That means scammers read our threads, our suggestions, and steps for safety, and then they make different scamming plans. 

Jokes aside, it's actually true that even though it makes a difference where you are keeping your assets, but scammers usually attack you through links and things that they get into your device through you, so if people stay careful from these things, they will mostly be safe. One can stay safe even if they are only using a non-custodial wallet in a device that they don't use for downloading a lot of stuff or surfing the internet too much. However, one should obviously use a hardware wallet if they want to keep large amounts.

Keeping your assets safe is not that difficult, but people have made it look it's rocket science. As long as you understand basic things and keep yourself away from very friendly strangers, you should be okay.

[Wiwo]

As much as we treat our privacy private we must also take security of our bitcoin very seriously and private too, most of the times, scammers make use of our public information to take actions against us, so what that means is that you must first of all be private and in control, not letting out your bitcoin on third party wallet like exchange for large long term investments.

You must but fully go airgapped if you don't have the fund's and knowledge to handle that, bit make sure that you stored your bitcoin in a wallet that you don't often time connect to the Internet, make sure you keep the wallet offline as much as possible.