The best foundation you can ever build for yourself

[KiaKia]

200k in dollars wiped out under 10 minutes, before the real owner can react it was already too late, I do like how the victim came out to say the truth that they created their wallet via telegram.

Some victim will lied about the details to avoid insult or blames.
I don't have alot to say, this says it all.





If you like, keep avoiding a airgapped hardware wallet, what you are doing is like building a ETC miner using computer components and spending most of your money on graphics card and you decide to spend less on a PSU, haven forgottrn that PSU is what will protect the whole motherboard and the graphic cards.

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

[_act_]

Yes, cold wallets are the safest, but there have been users that we have see losing money on cold wallets. Those that are using wallet on an airgapped device are better, but many of the hardware wallets users are novice because of how novice, some bought fake wallets while some had their coins stolen due to phishing attack. They will think that if they have bought a hardware wallet, that their coins can not be stolen, but which is a lie. People need to avoid all sorts of scam and hack. I am not saying hardware wallets are not safer than online wallets, but we should also use our brain by learning how to avoid our wallets not to be compromised.

[rat03gopoh]

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

If someone could create a wallet from a platform that is not open source, so they could buy a hardware wallet from an unofficial/verified seller. I think "the strongest foundation you can build for yourself in the crypto space is"... to find this place and start reading

[uneng]

The best thing I've done in this industry after adopting Bitcoin was to acquire a hardware wallet. That is the kind of thing you will never regret doing. Maybe at first glance most investors don't give much attention to it, but it's during crisis and volatile times they will start valuing this decision. I remember when Celsius and FTX scammed customers, and a wave of fear spread along crypto market regards what service would be the next to fall.

That is the kind of scenario where you will want to have a hardware wallet under your disposal. The thing is, scenarios like that happen without giving any warnings. So better that you have a wallet you have total control over your funds since now.

[BABY SHOES]

Yes, cold wallets are the safest, but there have been users that we have see losing money on cold wallets. Those that are using wallet on an airgapped device are better, but many of the hardware wallets users are novice because of how novice, some bought fake wallets while some had their coins stolen due to phishing attack. They will think that if they have bought a hardware wallet, that their coins can not be stolen, but which is a lie. People need to avoid all sorts of scam and hack. I am not saying hardware wallets are not safer than online wallets, but we should also use our brain by learning how to avoid our wallets not to be compromised.

Such people usually buy hardware from the marketplace instead of the official website, under the pretext of cheaper prices or with fast shipping, cheap shipping is often the case for beginners because they think there is no fake hardware.

That is the most important thing to win to avoid fraud and hacking that is increasingly rampant, this should be what beginners need to learn, but sometimes those who are deceived are big people in the sense that they lose money above $100K more because of their own negligence.

[Bluedrem]

No matter what kind of secure wallet is connected to the internet, I think they are not completely safe because there are many things that can happen on the internet. As technology advances, bad people are also creating new methods to cheat and are taking advantage of those methods to steal billions of dollars from other people.
Therefore, if we have the option, we need to choose the most secure wallet. In that case, a cold wallet can be used. If it can be stored in the right place, the assets will be much safer.

[bitcoindusts]

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

True, but i still think that the strongest foundation a person can build for himself is the right deep knowledge about what he is getting into.  All other else will follow.  Security, profitability, etc...  Knowledge is very essential in cryptocurrency industry.  Without proper knowledge and deep understanding of things around our investment in cryptocurrency, we won't be alarmed of the possible risk involve with our investment.  Just like the story @OP stated, if the person only knew how important having an airgapped hardware wallet is, he could have avoided such loses.

So in anything we do, be smart and always take time to understand everything about our investment especially if we are heavily invested into it.

[marrcelo]

I would never leave 200k in just one wallet. i would split it between at least 3 different wallets for safety. in crypto you cant trust only one place because one mistake or hack is enough to lose everything.

[blockman]

I still don't understand people with so much holdings and assets in crypto and yet, they feel that it's too expensive to buy a hardware wallet. As we invest, it's also part of investing because it secures the assets that we own. With a couple of bucks that you can purchase for it and a variety of it, gives you peace of mind. It's sad that we keep seeing almost the same mistakes that teaches the victims a very expensive lesson. 

[Questat]

Couldn't agree more. The best foundation would be securing a hardware wallet, as they keep private keys completely offline and is not visible with internet-connected devices, thus protecting from online hackers.

However, there are  still limitations and other risks such as human error like losing the seed phrase or sharing it to the scammers. And of course back up importance, seed phrase is highly needed once the physical device is lost or broken.

For maximum security, its best to use hardware wallets for long term rather than choosing hot wallets that can be easily compromised by malware or phishing attempts.

[freedomgo]

I would never leave 200k in just one wallet. i would split it between at least 3 different wallets for safety. in crypto you cant trust only one place because one mistake or hack is enough to lose everything.

Yes leaving that huge amount in a single internet-connected wallet carries a critically high risk. But if its made through a hardware wallet, I don't think the amount will be wiped out instantly. So far, hardware wallet is considered the safest way to store large amount as there is high protection from online hacks.

However, risk is still there, that's why it requires strict security hygiene to avoid losing the total amount. Trusting a hardware wallet is safer than any bank or exchange.

[EL MOHA]

I would never leave 200k in just one wallet. i would split it between at least 3 different wallets for safety. in crypto you cant trust only one place because one mistake or hack is enough to lose everything.

Yes leaving that huge amount in a single internet-connected wallet carries a critically high risk. But if its made through a hardware wallet, I don't think the amount will be wiped out instantly. So far, hardware wallet is considered the safest way to store large amount as there is high protection from online hacks.

Even from this thread one can clearly see that the wallet were two wallets and they still got wiped out, that’s how it is. Even if you have multiple wallets and they are virtually on the same device then there is a high tendency that an attack on that device will cost the all wallet on that device, plus this is even an hot device which is always live on the internet.

Personally i usually used to say this to lots of people even if the ones uses a cold wallet today their negligence would still cost them those wallets, because reading about this victim doesn’t only shows how much bad he paid attention to the type of wallet he used, his actions regarding even the hot wallet security was also bad. This is the type of people that could still lose coin while using the cold wallet too.

I will say that any amount of coin above $1k in my opinion deserves to be on a cold wallet. You see some of this stories and the next twist you see is how bad crypto is mostly coming from those who cannot be their own bank.

[Churchillvv]

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

If someone could create a wallet from a platform that is not open source, so they could buy a hardware wallet from an unofficial/verified seller. I think "the strongest foundation you can build for yourself in the crypto space is"... to find this place and start reading

Best mentality, knowledge is what the people need, you can get bitcoin at any moment from any where but that is during the early stage but after getting the first bitcoin you should be able to do more research on the investment you’re making and then that should be a foundation to the rest of the thing you would love to do, how you hold and where you store of save them. I’m not most guys do this, they just hoop in with the crypto and let it be until it’s lost.

[Sticky Bomb]

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

If someone could create a wallet from a platform that is not open source, so they could buy a hardware wallet from an unofficial/verified seller. I think "the strongest foundation you can build for yourself in the crypto space is"... to find this place and start reading

Most of these newbies are misinformed in the beginning, they only know they're on the wrong practice when they've been scammed. It's painful to loose such a sum but scammers have no conscience. I remember starting out with trust wallet, but ran away from it when a friend's wallet was drained by unknown causes. This place has a lot of useful information and we are only very fortunate to have found it and benefitted from the vast knowledge available here. I am always very grateful I exist here, no other online platform educates better on security of digital assets like this place does.

[Somegory]

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

If someone could create a wallet from a platform that is not open source, so they could buy a hardware wallet from an unofficial/verified seller. I think "the strongest foundation you can build for yourself in the crypto space is"... to find this place and start reading

That's not so true, many people knew about Bitcoin before this forum, and not all people who invested without coming on this forum ended up the same way like this person.

There are many people on this forum today that said they know about Bitcoin and they invested in bitcoin before coming on here, it's not as if this.l forum is the only place you can get information about the right crypto wallets that you should use.

Even Google search engine will tell you about hardware wallets been the most secured based on what you ask Google, and yes Ledger hardware wallet will be among lost, it's not fully open source but it is still better than what this victim did.

[AprilioMP]

If you like, keep avoiding a airgapped hardware wallet, what you are doing is like building a ETC miner using computer components and spending most of your money on graphics card and you decide to spend less on a PSU, haven forgottrn that PSU is what will protect the whole motherboard and the graphic cards.

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

A cold wallet is arguably the safest option for storing cryptocurrency. However, even with the most secure wallets, there’s no guarantee that users won’t lose their assets.
In my opinion, it all depends on the individual user and their knowledge of the wallet. While a wallet’s security relies on the user’s experience, the setup process must also be taken seriously—from installation through to securing the keys—and should never be overlooked or treated as trivial.

[Fiatless]

Most of these newbies are misinformed in the beginning, they only know they're on the wrong practice when they've been scammed. It's painful to loose such a sum but scammers have no conscience. I remember starting out with trust wallet, but ran away from it when a friend's wallet was drained by unknown causes. This place has a lot of useful information and we are only very fortunate to have found it and benefitted from the vast knowledge available here. I am always very grateful I exist here, no other online platform educates better on security of digital assets like this place does.

We are in an era when information is handy. Spending a few minutes to do research about the safety of your asset is not a waste of time. They should know that open-sourced wallets are safer and it is ideal to buy a good hardware wallet if you are keeping large amounts. It is also important to note that our security depends more on us than the wallet. So you could lose your funds in a good wallet if you are careless.

[programmer3666]

That’s a fact, in crypto, security should always come first before profit. Imagine someone building a beautiful house but refusing to put strong doors or locks because they want to save money, one day thieves can just walk in and take everything. that is exactly how some people treat their crypto wallets. They focus on buying coins but ignore proper security. Keeping huge funds on random apps or Telegram wallets is very risky nowadays because hackers are getting smarter every day. A hardware wallet may look expensive at first, but losing your entire savings in few minutes is far more painful.

[HeatBit]

If you like, keep avoiding a airgapped hardware wallet, what you are doing is like building a ETC miner using computer components and spending most of your money on graphics card and you decide to spend less on a PSU, haven forgottrn that PSU is what will protect the whole motherboard and the graphic cards.

The strongest foundation you can build for yourself in the crypto space is spending money on a airgapped hardware wallet first.

A cold wallet is arguably the safest option for storing cryptocurrency. However, even with the most secure wallets, there’s no guarantee that users won’t lose their assets.
In my opinion, it all depends on the individual user and their knowledge of the wallet. While a wallet’s security relies on the user’s experience, the setup process must also be taken seriously—from installation through to securing the keys—and should never be overlooked or treated as trivial.

Got it.

1) Get the best hardware wallet, e.g airgapped and open source.

2) Learn how to use them correctly

Case closed.


It's sad how people can be careful with their hardearned money, before I put money on anything I always have to cross checked to know if I am doing anything right or wrong, Bitcoin isn't running away, there are too much time to do good research.

[Cookdata]

I still don't understand people with so much holdings and assets in crypto and yet, they feel that it's too expensive to buy a hardware wallet. As we invest, it's also part of investing because it secures the assets that we own. With a couple of bucks that you can purchase for it and a variety of it, gives you peace of mind. It's sad that we keep seeing almost the same mistakes that teaches the victims a very expensive lesson. 

I know right, $50 hardware wallet would have avoided this but you know as they say when you make recommendations, you don't tell people that are privilege with web3 money what to do because they claim to know better than anyone. I know that dude, he is very popular on X, saw some of his posts and some projects he has work with and he is good at influencing, made good money from projects last bull run but I think been influencer get into some of their heads that they lose some basic. That money is as gone, there is no way he is getting that funds.

Most of these web3 guys are defi users that use smart contracts and wallet extensions, that's where they keep their coins and other valuable coins. These are the wallet scammers target and make them invoke transaction they know nothing about and within milli seconds, the coins are wipe out.  As long many institutions with billions worth of coins are never affected by practicing Cold storage, going offline will remain the got of storage.