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

[Cryptohygenic]

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.

No contradiction, when it comes to investing or trading in bitcoin, making profit is always the goal and a priority why they buys the bitcoin in the first place.
Protecting the coins is a basic concern of how to have it safe because if the security is not assured, then there is a risky possibility of loosing it and when lost all dreams and efforts are lost along.
On that note, knowing a safe wallet to store the funds such as non custodian that gives you access to your seed phrase should be remarkable including how to store your recovery keys safe from others and don't trust your private keys to third parties while storing it offline like a paper or engraved or steels is best recommended and keep it off from online storage system in other to prevent hackers from stealing the fund.

[UchihaSarada]

No contradiction, when it comes to investing or trading in bitcoin, making profit is always the goal and a priority why they buys the bitcoin in the first place.
Protecting the coins is a basic concern of how to have it safe because if the security is not assured, then there is a risky possibility of loosing it and when lost all dreams and efforts are lost along.
On that note, knowing a safe wallet to store the funds such as non custodian that gives you access to your seed phrase should be remarkable including how to store your recovery keys safe from others and don't trust your private keys to third parties while storing it offline like a paper or engraved or steels is best recommended and keep it off from online storage system in other to prevent hackers from stealing the fund.

Trading or investing, if you can not secure your bitcoins, you will lose it almost immediately after you bought it. With Bitcoin blockchain, transactions are irreversible so if your devices, accounts, wallets were compromised and hackers already moved your bitcoins, transactions were confirmed even just 1 confirmation, you forever lost your bitcoin.

Custodial wallets or non-custodial wallets, if you can secure your bitcoins, it's good but the fact is with custodial wallets, you don't have private keys, so you can not control your bitcoins. If you want to have full control on your bitcoins, you must use non-custodial wallets because you own wallet mnemonic seeds, and private keys.

With any wallets, security is very important as it keeps your devices clean and avoids compromise on your wallets.

[MusaPk]

Trading or investing, if you can not secure your bitcoins, you will lose it almost immediately after you bought it. With Bitcoin blockchain, transactions are irreversible so if your devices, accounts, wallets were compromised and hackers already moved your bitcoins, transactions were confirmed even just 1 confirmation, you forever lost your bitcoin.

Custodial wallets or non-custodial wallets, if you can secure your bitcoins, it's good but the fact is with custodial wallets, you don't have private keys, so you can not control your bitcoins. If you want to have full control on your bitcoins, you must use non-custodial wallets because you own wallet mnemonic seeds, and private keys.

With any wallets, security is very important as it keeps your devices clean and avoids compromise on your wallets.

Security must be first and foremost concern while you buy your bitcoins because in case your bitcoins are lost due to any reason then its not possible to recover them. There are ways to recover your lost money residing in your bank account in case you got scammed but there is no third party to do so in case of Bitcoins. Developing a security oriented mindset is very important and that means understanding the fact that security of your Bitcoin are solely owner responsibility. The quickly you understand this fact, better things turn out for you.

[Mr.leeemzy]

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.

It will be very hard for someone that just came into the Bitcoin world without proper orientation to succeed at first tial because Bitcoin world is a very wide and complicated system that if you don't learn or understand what you want, what you are doing or what to do at the right time as a beginner or even an expert you will loose your Bitcoin so not to make that happened in the Bitcoin world you need to know many things and you have to know this through the guidance of an expert or leaning from you past mistakes or even learning it online, the internet this days has made everything easy for us all in many parts of the world so it advisable to use one of the mentioned above tips to be able to safeguard, learners and know about how the Bitcoin system operates.

[jcojci]

Learning security is a must for beginners so they must know how to secure their wallet. While they learn, they will finds out that securing their wallet is the next thing before they send their coin so they must know how to choose the wallet and secure it.

That will only done if they learn many things and not stops even if they already have much knowledge as the more they learn the right, the more they improve knowledge which can be useful for them. But many times people forget about that and only learn after they get a bad things such as scam, steal and lost their coins so they will learn how to secure their wallet.

[Somegory]

The only way to develop a strong security mindset is using your time to learn about everything bitcoin first, do the learning over and over before you decide to buy your Bitcoin, many people don't want to wait.

I used several months on learning and writing down the important things about Bitcoin and how to keep my Bitcoin safe the best ways, I don't regret taking my time, someone who is a beginner must be ready to take their time with Bitcoin.

Patience while learning is everything, no stone will be left unturned.

[SatoABC]

Good point. I think the practical part of a security mindset is turning it into small habits before any meaningful amount of money is involved. A beginner should not start by moving a large balance around. Start with a tiny amount learn how the wallet was obtained write the seed phrase offline and do one small receive/send test so the process is no longer mysterious.

The other habit is to slow down whenever there is pressure. If a site app DM "support agent" or investment offer pushes you to act quickly that is usually the moment to stop and verify everything again. Check the wallet source check the address carefully avoid cloud backups/screenshots of seed words and never type the recovery phrase into a website.

For me security is less about being afraid and more about having a checklist that you follow even when you are excited. That boring pause can save a beginner from the expensive mistakes that usually happen in the first weeks.

[coinrifft]

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..

Exactly, I myself has been scam in a p2p before, so I just learn from that expensive before (around $200). So from then on, I try to double check everything including wallet security and practice safe hygiene so that I won't fall for that kind of trick.

And it's good that it did happen to me early on my crypto journey. Although I haven't been that long here, at least I can of experience that painful journey so that I will be battle hardened the next time.

[adultcrypto]

It will be extremely difficult for newbies to learn about the security of their bitcoin before they buy their first bitcoin because security is vast and trying to learn everything will even discourage them from investing in bitcoin. It is always better to learn on the process, that is like practical while your suggestion is theory. When newbies learn from their experienced, the lesson is well learnt and better practice which makes them grow in the process. Although, a newbie can understand the basics from the beginning and with time they will expand their knowledge.

[sotelorene]

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.

Learning how to protect Bitcoin is among the basic knowledge that is always advisable and encourage to anyone that is starting Bitcoin investment new. But let the idea not be to learn but also have the plan and intention to accumulate and hold for the long term because it will be very sad after learning, you didn't make good use of the knowledge you have to accumulate Bitcoin because knowledge is only useful and interesting when we exercise it. And yes I think the common goal is to make profit in the future as no one will do something that won't be beneficial.

[Catenaccio]

Learning how to protect Bitcoin is among the basic knowledge that is always advisable and encourage to anyone that is starting Bitcoin investment new. But let the idea not be to learn but also have the plan and intention to accumulate and hold for the long term because it will be very sad after learning, you didn't make good use of the knowledge you have to accumulate Bitcoin because knowledge is only useful and interesting when we exercise it. And yes I think the common goal is to make profit in the future as no one will do something that won't be beneficial.

bitcoin is your money after, for example, you spent your fiat currency for purchasing bitcoin. The money you got after that is bitcoin and basically you never want to lose your money in either fiat currency as cash or in bank account, or bitcoin.

Securing our money is important for all of us, as we work hard to get money and never want to lose our money easily by any reason. Of course if we are careless, and don't have proper security methods for our bank accounts or Bitcoin wallets, bad things might come some time in the future, and we will lose our bitcoin.

To avoid such loss, learning and improving our security practice.
Wallet basics.
Secure your wallets.
Bitcoin security guide.
General security.

[Emjay24]

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 little reordering, how to buy is the first thing to learn actually. You cannot convince me that you're learning how to protect  what you don't even know how to acquire.

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.

Security is very important in bitcoin accumulation and it is important new investors take it seriously, it is not necessary that they make mistakes or experience a scam before they learn. I believe we can observe from others experience with scam and learn for ourselves how to prevent such and more from happening to us. it is important to only download software from official sites and never have your main wallet in a hot device.

[goldkingcoiner]

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..

I think we all learn the hard way. It really is an effective way to learn 

Personally, I consider the money lost by the hard way as payment for life lessons which will in the future be very important. Although that being said there are always people who keep making the same mistakes over and over again.

Whether that helps them grow thick skin is a question that is left open... Maybe there are people who simply never learn and never grow any kind of skin?

Human psyche is both a mystery and a disappointment sometimes 

[Aanuoluwatofunmi]

It is expected that in Bitcoin or cryptocurrency, everyone of us is required to learn about the normal procedures and have sound information and knowledge of the network we are using, information will never be enough and this is why we are expected to remain committed to learn in everyday, is we help us to know more about crypto and also defend ourselves from those that would have taken advantage of us to scam us, because what you don't know we definitely hunt you down.

[hd49728]

I think we all learn the hard way. It really is an effective way to learn 

Personally, I consider the money lost by the hard way as payment for life lessons which will in the future be very important. Although that being said there are always people who keep making the same mistakes over and over again.

Whether that helps them grow thick skin is a question that is left open... Maybe there are people who simply never learn and never grow any kind of skin?

Human psyche is both a mystery and a disappointment sometimes 

Learning from own mistakes and loss is very memorable and perhaps it's because we have great impressions and pains from our own losses, so that we naturally have big reasons to change from learning more, and changing our practice. It's not the best way but with people who ignored many warnings, advice it's their ways to get experience, make mistakes, have losses before they actually do right things.

Not all people are lucky by making mistakes and losing small funds, as it can be very big fund stolen, so it's best for everyone to be open-minded and ready to learn from available educational resources on security, and painful loss lessons of the others.

21 tips for securing your bitcoins.

[Rockstarguy]

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.

The awareness of risk and scams is what brings the attention of beginners to understand the security mindset of Bitcoin. What will really help beginners to have the security mindset in Bitcoin is to have awareness of the risks in Bitcoin as an investment and also the security aspects of Bitcoin too. Most beginners get to understand the importance of security after having an encounter with a scammer.

[Zaguru12]

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.

[Davidvictorson]

~snip~

Well written but before all of these, there is privacy. This is one of the best security measures. There have been many cases of wrench attacks as well as other physical attacks on bitcoin owners simply because they publicly share screenshots of their profits on social media. Keep your bitcoin portfolio to yourself, the less they know about you, the less of a target that you become.

[tabas]

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.

They can do unlimited research on how to protect their bitcoin but, they have to own it first before protecting it.

Here you come, I am of the opinion that there is no hard code way to do it, but to follow things dully. Some people know how to secure bitcoin but they don't own any while some own and lose it careleslly.

Yeah, it's the other way for the other people. They know how to protect but they don't own it, while those who owns it don't know how to protect it. But we have to do what we have to, when the bitcoins that we're holding no matter how much it is needed to be in good protection and taken care of us and not with the exchanges. No need to be so very hard in it but just the typical way of protecting it.

[UchihaSarada]

Security must be first and foremost concern while you buy your bitcoins

It's not like "while you buy your bitcoins" as security is a long term practice and must be maintained well before, during and after "you buy bitcoin". Even if you don't buy bitcoin, your devices need to be secured well enough, it's vital for your devices and anything stored on your devices. There are many things on your devices can be compromised, not only Bitcoin wallets.

because in case your bitcoins are lost due to any reason then its not possible to recover them.

It's true.
Because Bitcoin transactions are irreversible.
Irreversible transactions.