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

[Joy- maker]

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.

A security mindset is the habit of thinking about risks before taking action. but it is quite unfortunate that many people start thinking about security after they are already lost funds to scammers, phishing websites fake giveaways or malware.

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.

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.

Thirdly, do not trust information simply because you heard it on social media or it appears to be popular, always verify links, wallets addresses and the source of the information before taking action it is for your good.

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.

Fifthly, protect your recovery seed phrase very important. When i first join the bitcoin space i lost the first bitcoin i bought to hold for long term, because i was not aware that there is a recovery seed phrase that needed to be written down and kept in a safe and secured place just in case. therefore, your recovery seed phrase is more important than your password and anyone who gain access to it can steal your bitcoin so never share it for the safety of your bitcoin investment.

Last but not lease, security is not a one time task, so think long term because it is an ongoing process. the security habit you develop today can protect you from losing years into the future. most people, especially newbies lose their bitcoin investments because they focus more buying and ignoring how to secure them.

[Hatchy]

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..

[Porfirii]

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..

That's very good advice, Hatchy, and the sooner whoever decides to invest is aware, the better it will be for them.

But if we talk about buying your first Bitcoin (your first sats I guess the OP means), I wouldn't wait for so long to get my first satoshis and learn how to use them. I'm talking about little money, of course, but as I read a few days ago, that's the way it becomes "real" and you can feel confident. But then, it is important to get the education you have written down about before the moment you reach too high a level of confidence.

[BIT-BENDER]

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.

[tbct_mt2]

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.

A security mindset is the habit of thinking about risks before taking action. but it is quite unfortunate that many people start thinking about security after they are already lost funds to scammers, phishing websites fake giveaways or malware.

They must prepare before starting from knowledge to practice firstly with Bitcoin testnet before actually move to Bitcoin main net.

Security is very important especially with digital things like Bitcoin, Bitcoin wallets, bitcoins in wallets and transactions. If a device is compromised, wallets can be compromised and bitcoins stored on that device have high risk of stolen by hackers. Hence, learning for preparation is important but it needs to be about both Bitcoin and security, if possible about privacy too.

Resources for learning about Bitcoin, security and privacy.
https://www.lopp.net/bitcoin-information.html
https://www.lopp.net/bitcoin-information/security.html
https://www.lopp.net/bitcoin-information/privacy.html

[Marvelockg]

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.

Can you start to consider protecting what you've not gotten? As much as protecting your asset is important, you've got to first of all be more concerned about how many asset you're able to accumulate before you consider it security or work in securing your asset while you're yet building your bitcoin stack.

Security starts with the basic ones and that's the one an investor will learn before starting and after starting they can build on that one. The need for security your asset increases as the quantity of your accumulation increases because the higher the asset you're holding it, the more likely it's that hackers and a lot of theft will come at you.

[tech30338]

If you are going into something like investing what you need to do is to learn what are the do's and don't, how are you going to protect the wallet where you are going to store the assets, understanding how to use it, send , received wallet, protecting the computer you are using, this are the things new in crypto should consider, also where is the safest to buy the assets you are going to hold, while other things can be learn along the way, for me this are the things that we should be aware, more important for newbies.

[Zaguru12]

Security starts with the basic ones and that's the one an investor will learn before starting and after starting they can build on that one. The need for security your asset increases as the quantity of your accumulation increases because the higher the asset you're holding it, the more likely it's that hackers and a lot of theft will come at you.

This is exactly what scammers or hackers want you to think, that your funds are actually not big enough for top security, if you have time you can look through the wallet of hackers or scammers which were created for phishing attacks you would see that most of the people affected are people with not so much bigger funds. Scammers are patient that they will accumulate every little bit of this funds to make it big and the reason why this wallet are the targets is simply because of what you said now, which is small bitcoin holders not paying attention to their security so they capitalize on that.

I actually understand you that people pay attention to their wallet security until when they are able to actually hold more funds which is a bad security strategy because your wallet might have been compromised even before then. This is also reason why most people take lots of time before moving to cold wallet because of the believe that a $1k worth bitcoin is still small.

Learning about bitcoin security is not rocket science or requires you to be tech savvy, there are basic tips that are essential to learn before buying your first bitcoin

[Luzin]

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.

A security mindset is the habit of thinking about risks before taking action. but it is quite unfortunate that many people start thinking about security after they are already lost funds to scammers, phishing websites fake giveaways or malware.

Since the beginning, this cycle has become a guide, so it is natural that this condition has been trusted by many people. There is a clear measure regarding the reduction of rewards for miners; this condition meets the law of trade that the rarer a good is, the higher its price should be. Perhaps currently there are many large companies starting to join, making the market slightly different. This year looks the same, with only a few small differences, and this seems reasonable because there is no exact act, but it has not changed much. I still believe this cycle is still trusted and happening today. IMO

[Joy- maker]

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.

Can you start to consider protecting what you've not gotten? As much as protecting your asset is important, you've got to first of all be more concerned about how many asset you're able to accumulate before you consider it security or work in securing your asset while you're yet building your bitcoin stack.

To answer your question, no you can not protect an asset you have not acquired, but you can plan for it security before obtaining it. As someone who is new to the Bitcoin space before purchasing your first Bitcoin you can make security plans in advance, or is there anything wrong in making security plans before obtaining your first Bitcoin?

I know you and some others would say that it will delay someone Bitcoin investment journey and cause them to miss buying opportunities, come on bro/sis learning about how to security your Bitcoin investment won't take decades it will only take few hours or, at most a day.

And if I may ask, what is the gain or benefit of accumulating Bitcoin and end up losing it to scammers, hackers, or even humans error?