How to Develop a Security Mindset Before Buying Your First Bitcoin.

[EluguHcman]

Therefore, before buying your first bitcoin it is important to understand that you are entering into a system where you are fully responsible of your funds, the bitcoin system is not like the traditional bank where we have customers support that can reverse transactions or recover stolen funds. ones your bitcoin is gone it is likely gone forever.

The market is full hype and criticism and when some enthusiasts interests is caught with the hype, they don't consider about the risks involved, they just want to buy and expects to see their portfolio expanding.
Ignorant as a mistake in the Decentralized market can never be a considerable excuse to recover your funds unlike the reversals from the traditional banking system and relatively.


As a beginners in the industry, you are expected to take some diligent studies on the risks and how to avoiding them that maybe loophole of loosing ones bitcoin.
I come to understand that those who had been influenced with the criticisms that later changed their minds to adopt Bitcoin are mostly them that pays attention to learn about the necessaries than them that are influenced by hypes.
That is just how many of them make mistakes on buying the wrong coin or get scammed by sending them counterfeit coin after being mislead to use wallet that is being customized by the scammer.

[Hazink]

But some of them could make mistakes so big that in could shatter them into going out of their minds, some newbies who experience serious mistake make not have any skin to even continue with.
Learning from your mistakes is quite helpful but it all depends on what was lost and how mentally prepared the loser is so if newbies can avoid that and rather learn from others mistakes it would be alright for them.

There are many people out there who have buried the idea that bitcoin is a scam or call it any sort of name, not because it is, but because of their own mistakes, which they are not willing to take responsibility of some of them out of ignorance made such a mistake even when they could have been avoided.

I still stand with the teaching and letting people know of risk and danger let it be than when they fall into any issue due to their own carelessness they know they have been warned before than when they actually learnt the hard way even as learning the hard way is the only language some stubborn people understand.

[Sonia_123]

Your bitcoin security should be the first step you have to take before taking the bold step to acquiring bitcoin, but should I say they are carried away with the returns they will  get from bitcoin and so all they do is to start purchasing bitcoin forgetting that without security your portfolio is at risk and at the hands of  scammer and other dangers.

[Zlantann]

There are many people out there who have buried the idea that bitcoin is a scam or call it any sort of name, not because it is, but because of their own mistakes, which they are not willing to take responsibility of some of them out of ignorance made such a mistake even when they could have been avoided.

I still stand with the teaching and letting people know of risk and danger let it be than when they fall into any issue due to their own carelessness they know they have been warned before than when they actually learnt the hard way even as learning the hard way is the only language some stubborn people understand.

There is a saying that experience is the best teacher. But I don't want to have a bad experience before I learn. I try my best to learn from other people's mistakes because some personal blunders might lead to irrecoverable losses.

Anyone who wants to invest in Bitcoin through a non-custodian platform should first learn about security. Buying Bitcoin without security education is like buying a car without knowing how to lock the doors. Anyone who is not willing to learn how to keep their coin safe shouldn't invest or do it through a centralized platform.

[lovesmayfamilis]

I still stand with the teaching and letting people know of risk and danger let it be than when they fall into any issue due to their own carelessness they know they have been warned before than when they actually learnt the hard way even as learning the hard way is the only language some stubborn people understand.

You contradict yourself in one quote. If people don't want to listen, you don't have to impose anything on them. Let them learn their own lessons. After all, these are not your means, but you can make people respect you and your advice only when the person realizes that you were right. Let them make mistakes, and let them start looking for information, and finally, they will come to you for advice. Many people are very deaf to our attempts to help them, considering themselves smarter and more educated, figuratively speaking, than I am. "I'm no dumber than a locomotive; I'll figure it out myself. I'm not a fool." But after losing an amount, their brain mobilizes its forces, forcing them not only to hear but also to listen and learn from those who are more experienced.

[Out of mind]

When a new user participates in investing in Bitcoin, it is most important to have proper security management and a good mindset. Before investing in Bitcoin, it is most important to know about keeping Bitcoin in a safe place, I think if your capital is not kept safe, then there is no benefit in keeping it for a long time. In that case, first you have to select a good wallet, then you have to invest, only then it is safe for money. I see most people saying that they only talk about investing in Bitcoin but they do not say whether they will keep their Bitcoins in a safe place. That is why I think that before investing, you have to think about security first, then the investment and mental development later. In any case, if you want to invest, it is very important to have a long-term plan, security is important to keep the investment properly for a long time. Therefore, to develop yourself as a successful investor, the most important thing is to keep your mind and control over yourself, that is why you need to be patient.

[michellee]

No doubt if in the first time people come to Bitcoin for profit but they don't think about securing their wallets. They just let the exchanges handle that and think that the exchanges will secure it for them. That is not a wise decision, the exchanges might not online forever and if they shutdown suddenly which will make users panic.

You can reading many guides related to securing your wallets but the first thing you should do is never telling others that you have Bitcoin and keep that with secret and just pretending you don't know. Make sure you read related things in https://bitcoin.org/en/ and how to choose the wallet so you will not pick the wrong wallets.

[Nathrixxx]

The easiest thing to do is for you to make a decision to invest, well for you to know how you could secure your investment is another serious task we must see as a matter of urgency, if you look at the rate of which crime is increasing in cryptocurrency, many have been found as a result of lack of information, many people were also far behind when it comes to the technical know-how of bitcoin Security and they there by create a vulnerability for themselves without knowing such could be an entry route for attack on them.

[Cleanshit]

I don't really blame beginners who don't have the security mindset in Bitcoin while purchasing Bitcoin because most beginners think about or know only the Bitcoin value, and their main concern is to make a profit from Bitcoin.

Should we put this blame now on those introduce this newbies to bitcoin because one of the biggest problems that we have is how narrative given about bitcoin and how the newbies are introduced into bitcoin. Most people that introduce them only give them focus on how they will make profit by investing or trading but certainly they don’t get the exposure to how to secure their assets or how not to even lose them. For me securit should be paramount to every investor either old investor or new investor, either large holder or small hodler too.

I think it depends on who is bringing the newbies to join most them are pass the wrong narrative to the,well the truth is that this days you it so hard for you to look for a newbies who was involved in bitcoin without having the mindset of cashing out, well am sure you also pass through such when joining bitcoin investment.

Well I think it has been done by everyone here before so it shouldn't be a new thing, most likely joined with a good interest to earn richly and most joined through bad growth of the country, most joined through scam and all of that is why we are all here.

Not every person's personality and goals are the same. I believe there are many people who invest and keep buying continuously and they never decide to sell until their time limit is up. But yes, a person who always follows a trader will definitely want to sell his holdings. Because whenever we follow a person, our personality will become the same. But every person's goal needs to be long-term. Whatever steps we take to achieve our goal, all the steps need to be perfect.

Yeah sure on that not every one has same  goals in life, well for the people who continues buys till the end most newbies might want to ask questions like what is the gains at the end of the road what the big fish for them after buying aggressive.
Okay but on a second thought i feel copying someone else's strategy, Goals or personality it sometimes get people wrecked for life because it sound like you copying their risk tolerance too.

buying till the end crowd has a specific goal it more sound like generational wealth or opting out of fiat entirely.

Okay like using my location, right Think of it, like buying a land in Lekki in 1990 and never selling - the payoff is the land itself. I think that how bitcoin works from my own perspective.

[Z_MBFM]

They just have to learn the hard way. I do sometime think the best way to educate someone is to let them learn from their mistakes. Some people even after you try to teach them would still not be ready to put their learnings into play. Someone that's nee into the crypto market should have just two things in mind, storage and purpose. Purpose helps you grow a thick skin on why you should invest into that asset, in this case BTC. Some investors don't even know why, they just see that people are making profits and wants to also follow the crowd till it gets blurry.. the type to storage method you choose for your investment also determine how safe your asset will be on a long term. If you fail at these two points you have already failed your investment..

But some of them could make mistakes so big that in could shatter them into going out of their minds, some newbies who experience serious mistake make not have any skin to even continue with.
Learning from your mistakes is quite helpful but it all depends on what was lost and how mentally prepared the loser is so if newbies can avoid that and rather learn from others mistakes it would be alright for them.

It is normal to make mistakes at the beginning. In fact, those who first know about Bitcoin and invest in Bitcoin are basically very serious and they think that if they invest in Bitcoin, they will get a lot of profit very quickly, although this is not true, if they invest in Bitcoin, they will definitely be able to make a good profit. But the fact is that they do not know how to keep that Bitcoin safe. A Bitcoin wallet can never be hacked if it is not a victim of a phishing attack. And newbies make the same mistake that they become victims of a phishing attack and that is one of the reasons why they lose their Bitcoin. We know a proverb that it is difficult to protect from gaining freedom. Investing in Bitcoin is easy but protecting it is quite difficult.

[Berry2d]

The easiest thing to do is for you to make a decision to invest, well for you to know how you could secure your investment is another serious task we must see as a matter of urgency, if you look at the rate of which crime is increasing in cryptocurrency, many have been found as a result of lack of information, many people were also far behind when it comes to the technical know-how of bitcoin Security and they there by create a vulnerability for themselves without knowing such could be an entry route for attack on them.

Yes the security of our investment is the first to consider before going into any kind of investment programmes,  many hurriedly rush in for investment without considering all needed to provide adequate security to his assets which at last leads to uncontrollable lost on the process. 
Excluding bitcoin investment,  any assets requires security and before going into it that most preferred security measures must be taken to help safeguard the asset in question and to do this, information on the preferred asset must be identified to avoid making a mistake. After acquiring information,  profitable decision must be made on which security measures that must be taken.

[Franklyn-wood]

They just have to learn the hard way. I do sometime think the best way to educate someone is to let them learn from their mistakes. Some people even after you try to teach them would still not be ready to put their learnings into play. Someone that's nee into the crypto market should have just two things in mind, storage and purpose. Purpose helps you grow a thick skin on why you should invest into that asset, in this case BTC. Some investors don't even know why, they just see that people are making profits and wants to also follow the crowd till it gets blurry.. the type to storage method you choose for your investment also determine how safe your asset will be on a long term. If you fail at these two points you have already failed your investment..

But some of them could make mistakes so big that in could shatter them into going out of their minds, some newbies who experience serious mistake make not have any skin to even continue with.
Learning from your mistakes is quite helpful but it all depends on what was lost and how mentally prepared the loser is so if newbies can avoid that and rather learn from others mistakes it would be alright for them.

It is normal to make mistakes at the beginning. In fact, those who first know about Bitcoin and invest in Bitcoin are basically very serious and they think that if they invest in Bitcoin, they will get a lot of profit very quickly, although this is not true, if they invest in Bitcoin, they will definitely be able to make a good profit. But the fact is that they do not know how to keep that Bitcoin safe. A Bitcoin wallet can never be hacked if it is not a victim of a phishing attack. And newbies make the same mistake that they become victims of a phishing attack and that is one of the reasons why they lose their Bitcoin. We know a proverb that it is difficult to protect from gaining freedom. Investing in Bitcoin is easy but protecting it is quite difficult.

Developing a security mindset brings in the thought and value attached to the type of investment. Every investment has it own risk, and the the ability to control risk makes room for learning and research. Many feel they can buy experience with money, therefore investing  without risk and security consciousness. This is why some beginner's in Bitcoin mostly when they think they are late to investment like Bitcoin wants to manover every process to quickly start enjoying returns immediately or meetup with others who have been there.

[Mandoy]

The easiest thing to do is for you to make a decision to invest, well for you to know how you could secure your investment is another serious task we must see as a matter of urgency, if you look at the rate of which crime is increasing in cryptocurrency, many have been found as a result of lack of information, many people were also far behind when it comes to the technical know-how of bitcoin Security and they there by create a vulnerability for themselves without knowing such could be an entry route for attack on them.

Yes the security of our investment is the first to consider before going into any kind of investment programmes,  many hurriedly rush in for investment without considering all needed to provide adequate security to his assets which at last leads to uncontrollable lost on the process. 
Excluding bitcoin investment,  any assets requires security and before going into it that most preferred security measures must be taken to help safeguard the asset in question and to do this, information on the preferred asset must be identified to avoid making a mistake. After acquiring information,  profitable decision must be made on which security measures that must be taken.

As much as knowing about the investment. It's crucial to have a security mindset before purchasing your first Bitcoin. When many beginners are interested in the potential profits. That can be gained. They fail to realize that they are also responsible with protecting their assets. Before investing. It is essential to know how to manage the wallet securely, how to protect the private keys. How to set a robust password and how to understand common trading scams. While Bitcoin offers financial freedom. It's also a responsibility and awareness challenge. Education and proper knowledge and use of good security measures can avoid expensive errors and the safety of the Bitcoin investment in the long run.

[Freeveto]

Your bitcoin security should be the first step you have to take before taking the bold step to acquiring bitcoin, but should I say they are carried away with the returns they will  get from bitcoin and so all they do is to start purchasing bitcoin forgetting that without security your portfolio is at risk and at the hands of  scammer and other dangers.

Most newbies actually get carried away with the return they will get because they come with the intention of making money through bitcoin, they usually forget about the security of their wallet because most of them that are eager to make money from bitcoin are using centralized exchanges, they don’t care about wallet security since they will only need their email addresses to signup.
When they decided to take their privacy serious, they start to learn about the privacy and learn how to protect their wallets.

[Issa56]

Many people enter the bitcoin space with one goal in mind, making profit. Although there is nothing with that goal in mind, but i believe that one of the first things newcomers should learn is not how to buy bitcoin, but how to protect it.

Most newbies that are entering the crypto space don’t even care to have appropriate knowledge about bitcoin before they start investing. Most of them are just so desperate to make money from bitcoin investment, and they just ignore the necessary things which they are suppose to know. They do hear it on social media or from their friends that people are making money from bitcoin investment, and they also decide to jump into it.

Secondly, understand what you are using, newbies do not download wallets or use exchanges without understanding the risks involved. therefore, learn the purpose of the wallet, backup phrase and the basic security before you start sending funds into the wallet.

Most newbies still believe leaving their coin on exchange is still the best, and they don’t care about the risk involve  in leaving your coin on exchange. Lots of people still leave their coins on exchange, some of them don’t know the risk involve in it, and some people know about the risk, they just choose to ignore it.

Fourthly, scammers target everybody, but they often target beginners because they know that newbies will be eager to make quick profit. therefore, any investment platform promising guarantee of profit or secret investment opportunities should be avoided immediately.

Newbies are always scammers target because they easily fall for their tricks. As a newbie it’s better you know that bitcoin is not a Ponzi scheme, you cant invest in bitcoin, and you going to get instant profits. Any platform that ask you to deposit some bitcoin into their platform, and they going to be giving you certain amount as interest daily, or weekly, you should know they about to scam you, and you have to avoid it.

If you want to hold your bitcoin, make sure it’s stored in a non custodial wallet address, and make sure you properly secure your seed phrase. If anyone has access to your seed phrase, they already have access to your bitcoin. Make sure you don’t store your seed phrase in anywhere there is internet connection, it should be completely stored offline.

[Cookdata]

I believe these are things you learn from experience. People who use the internet should generally know about security and know that they shouldn't trust just any site or people they meet without verifying, but those are things they learn as they get online, or internet experience. It doesn't mean it has to happen to them personally. They see updates and discussions about it online. They read stories of people who fell for scams or made mistakes. They don't learn all these things in one day.

When I started in my Bitcoin journey, I knew about security, of course, but there was a lot I didn't know. With time, I started to understand and learn about things I didn't even know existed. You don't learn all these things in one day. That is why it's called a journey.

Not everyone that use the internet knows about security measure. Most don't even know how to protect their privacy and if your privacy is poor, security wise you can be exploited at any time. You can't claim to protect your seed phrase when it's not hidden, you can't claim to using an exchange and the email login is everywhere or perhaps it was found in one of the website that has data leaks, scammers will test those email on popular websites to try to guess your password especially if you use simple password.

Bitcoin security depend on who is trying to make the protection, some  people are very poor when it comes to how they handle their privacy. Some people are very poor at handling sensitive data, till now when I see post about people that loss their seed phrase or passphrase to their wallet, I get surprised because how can you create a wallet, deposit Bitcoin on such wallet and claim to forget about it. Somethings are simple but mort often we make it complicated.

[Churchillvv]

Good write up. The security mindset part is especially important for newcomers since most people focus on buying first and only realize later how critical protection really is. Your point about seed phrases adds a strong real life lesson to the discussion.

Where some people get their information from sometimes determines how they will treat investment. There are those who just got the idea that what matters is buying and keeping coin in a particular place and waiting for profit, and they are too lazy to learn about security, which should have been part of the basic things advised for any newbie to know before going into investment, while there are those who prefer to learn the hard way; only when their mistakes have taught them a life lesson can they learn from it.

[Sammye3]

Many newbies would still fall victim of scams even after seeing this information, most times it is doubt and the other times it is greed. Security is very important when it comes to managing digital assets and we can see the downside with malware attacks and the rest.

Additionally, information is key so it is necessary to always cross-check any information online before making any hasty decision that could result to losing your assets. It is not the time to feel lazy about security or take it as a less significant objective but set it as priority even without possession of any asset.

[Rubuchi]

Your bitcoin security should be the first step you have to take before taking the bold step to acquiring bitcoin, but should I say they are carried away with the returns they will  get from bitcoin and so all they do is to start purchasing bitcoin forgetting that without security your portfolio is at risk and at the hands of  scammer and other dangers.

it's not that deep but it is truly a step you should not take for granted though. Why I won't want anybody to take it for granted is because bitcoin is something many people are currently exploring and it won't be a good thing to see your earned money disappear because of your poor security fix. So as you are trying to set up your account for the first time, the first thing you should do is to make sure your bitcoin security is tightened. Ask the important questions so you can be properly guided and not start investing in bitcoin blindly. Bitcoin can be profitable but losing your money can also be demoralizing.

[Floxynice]

The first thing that will help newbies stay vigilant and avoid either getting scammed, getting their accounts hacked, or carelessly losing their bitcoins is understanding first that Bitcoin is risky. Many newbies do not realize this; they are just so interested in making money from Bitcoin without paying attention to its risky side. Having the consciousness that they can lose their bitcoins at any time if they are careless will prompt them to dig deeper and find ways to keep their bitcoins safe. It is through their honest findings that they will come to know that disclosing their seed phrase is a bad practice, dealing with strangers is risky, poor backup is dangerous, and publicly displaying their Bitcoin assets is also very risky.

All newbies should know that Bitcoin is not just valuable; it is also very risky.