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

[Anthony Bill]

Leaning Bitcoin and other cryptocurrencies without learning some of the quality wallets to hold the coins, I think is a waste of effort and resources. I have seen some complain some users have shared how they lost huge amount of coins in a fake wallets that is very easy for scammers to break through, because they follow instructions of social media that made them to ignore quality wallets people are using in this forum. This thread will help a lot of new members to know how to create a solid security around their Bitcoin and other cryptocurrencies.

[HajiBagi]

Leaning Bitcoin and other cryptocurrencies without learning some of the quality wallets to hold the coins, I think is a waste of effort and resources. I have seen some complain some users have shared how they lost huge amount of coins in a fake wallets that is very easy for scammers to break through, because they follow instructions of social media that made them to ignore quality wallets people are using in this forum. This thread will help a lot of new members to know how to create a solid security around their Bitcoin and other cryptocurrencies.

It is very important to learn how to protect your wallet, what we see on social media can not help you, some are not real, which is why it is very important to be in this forum and get some vital information about cryptocurrencies before buying, i did not mean that online learning is not good, but some are scammers, some are doing that to get people attention and introduce them to a wallet that they can scam them easily, some people will fall for many scams because they always believe that social media makes things better and they can get any good information they want.

It will be difficult to see someone who joins this forum and learns how to invest and protect their wallet being scammed easily, because when you join the forum, you can learn many things that you didn’t know before, and I believe that with the help of many threads like this in the forum, you can understand many things you need to know as a beginner as well as an old person who still want to learn more about how to protect your wallet, because no one is perfect.

[Joy- maker]

I have seen some complain some users have shared how they lost huge amount of coins in a fake wallets that is very easy for scammers to break through, because they follow instructions of social media that made them to ignore quality wallets people are using in this forum. This thread will help a lot of new members to know how to create a solid security around their Bitcoin and other cryptocurrencies.

I once stored my coins in a random wallet I saw in an online advert, and believe me when say that I lost those coins to scammers.  I can't really recure what happened back them, but what I can recall is that I could no longer access the wallet, all my Ethereum and some others coins I was holding there were lost.

So what is the moral lesson? do not use any wallet you see in an online advert, there are many open source wallets recommended on this forum that you can use to store your Bitcoin and other cryptocurrencies.

[Solokan]

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..

It's true that quite a few people learn from their mistakes and ultimately succeed in investing in BTC. There are indeed quite a few people like that who don't listen when told by others. The effective solution for such people is, as you said, to learn from their mistakes. But I don't want to see people lose BTC before they realize it and finally learn from their mistakes. What I want is for them to immediately safeguard their assets according to the guidance of those who are experts in investing in BTC and so on.

Saving and goals are very important, and investing shouldn't be a game, it must be serious. So, those with long-term investment goals in BTC should do their best to protect their assets.

[De seer1]

Leaning Bitcoin and other cryptocurrencies without learning some of the quality wallets to hold the coins, I think is a waste of effort and resources. I have seen some complain some users have shared how they lost huge amount of coins in a fake wallets that is very easy for scammers to break through, because they follow instructions of social media that made them to ignore quality wallets people are using in this forum. This thread will help a lot of new members to know how to create a solid security around their Bitcoin and other cryptocurrencies.

It is very important to learn how to protect your wallet, what we see on social media can not help you, some are not real, which is why it is very important to be in this forum and get some vital information about cryptocurrencies before buying, i did not mean that online learning is not good, but some are scammers, some are doing that to get people attention and introduce them to a wallet that they can scam them easily, some people will fall for many scams because they always believe that social media makes things better and they can get any good information they want.

It will be difficult to see someone who joins this forum and learns how to invest and protect their wallet being scammed easily, because when you join the forum, you can learn many things that you didn’t know before, and I believe that with the help of many threads like this in the forum, you can understand many things you need to know as a beginner as well as an old person who still want to learn more about how to protect your wallet, because no one is perfect.

So person get carried away just because of what they see on social media they ended up depending on the wrong person's with their own wallet studying from a society when people can share legit experiences and mistakes can save people from making the mistake in crypto occurency it's good to take people time and verify things before trying to make any silly move.

[KiaKia]

Security will never be a one time thing and this is why I always feel like scammers will always have a higher chance if scamming people non stop, because we still need to learn something new before adjusting security.

It means they have every first shot to take advantage of some people before something or someone find out and raise the alarm, this is sadly something that shouldn't be.

I still applies this fear method to my daily life and around my Bitcoin hardware wallet, for instance if a new firmware version gets released I don't like jumping in and update right away, I always leave it be at first unless it's a security patch.

[tbct_mt2]

Security will never be a one time thing and this is why I always feel like scammers will always have a higher chance if scamming people non stop, because we still need to learn something new before adjusting security.

It means they have every first shot to take advantage of some people before something or someone find out and raise the alarm, this is sadly something that shouldn't be.

Security is like a breath which is very important for your life. If you stop breathing, you die, and with security, if you stop maintaining good security practice, you will have more risk with your devices, wallets and funds. It does not mean you will lose your coins immediately but it does not mean you will be safe with bad security practice.

I still applies this fear method to my daily life and around my Bitcoin hardware wallet, for instance if a new firmware version gets released I don't like jumping in and update right away, I always leave it be at first unless it's a security patch.

Hardware wallets are cold wallets but people must do many things rightly from choosing a good hardware wallets, buy it rightly and use it safely too. It's not right that using a hardware wallet automatically means it's safe and secure.

[LIST]Open source hardware wallets.
[GUIDE] How to buy a Hardware Wallet the right way.

[cxtreenal]

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..

It's true that quite a few people learn from their mistakes and ultimately succeed in investing in BTC. There are indeed quite a few people like that who don't listen when told by others. The effective solution for such people is, as you said, to learn from their mistakes. But I don't want to see people lose BTC before they realize it and finally learn from their mistakes. What I want is for them to immediately safeguard their assets according to the guidance of those who are experts in investing in BTC and so on.

Saving and goals are very important, and investing shouldn't be a game, it must be serious. So, those with long-term investment goals in BTC should do their best to protect their assets.

A new investor who has seen the past price history of Bitcoin has the expectation of making profits in the short term. Even if they take advice from experienced investors or get advice from any other reliable source, they prefer to be at their own pace. Most of those new investors do not learn from the mistakes made by others because their own emotions are not involved. They themselves make investment mistakes but spend more time learning from them. Their emotions are mixed with their own earned capital, so they gain investment knowledge and correct their mistakes through losses.

If you observe the investment situation of those new investors after a few months, you will see that someone may have dropped out. Most of them have learned from their own mistakes and are regular with long-term goals. An investor's own education system is the most important. This means that you will invest with your own funds and make mistakes and the learning that is gained by using the experience gained from those mistakes is the real investment experience. And the best way to be successful in long term Bitcoin investment.

[Hatchy]

It's true that quite a few people learn from their mistakes and ultimately succeed in investing in BTC. There are indeed quite a few people like that who don't listen when told by others. The effective solution for such people is, as you said, to learn from their mistakes. But I don't want to see people lose BTC before they realize it and finally learn from their mistakes. What I want is for them to immediately safeguard their assets according to the guidance of those who are experts in investing in BTC and so on.

I just believe there's no one who is an expert in terms of securing your coins. You are your own pro, don't be deceived. Most people fail to understand the basics of ensuring their coins are stored and theh rely too much on others. This is why theh end up making terrible mistakes that puts that coins at risk. There's is alot of security risk posing against our assets, but the only part which would be regretful is when you have not even a single knowledge on what to do to stay on the safe side. Like I said, there's no expert it's just you and how you chose to store your coins.

[ImGenius]

I just believe there's no one who is an expert in terms of securing your coins. You are your own pro, don't be deceived. Most people fail to understand the basics of ensuring their coins are stored and theh rely too much on others. This is why theh end up making terrible mistakes that puts that coins at risk. There's is alot of security risk posing against our assets, but the only part which would be regretful is when you have not even a single knowledge on what to do to stay on the safe side. Like I said, there's no expert it's just you and how you chose to store your coins.

Yes it is true that no one can say with a 100% guarantee that they are a security expert but they can avoid some mistakes through which someone will not be able to scam them very easily. Those who are thinking about buying Bitcoin for the first time in my opinion they should first know what a Bitcoin wallet is and what an exchange is and their next learning process should be all kinds of scam methods and one universal rule which is that the seed phrase should never be given to anyone the wallet where the funds will be held should never be connected anywhere, and it should be kept in mind that the device in which the funds are held should never be online. I think if someone follows these three things, then even as a newbie they will not be scammed very easily.

[Cookdata]

So person get carried away just because of what they see on social media they ended up depending on the wrong person's with their own wallet studying from a society when people can share legit experiences and mistakes can save people from making the mistake in crypto occurency it's good to take people time and verify things before trying to make any silly move.

Some people are influenced with what other people do, I can tell you that a lot of OGs I did follow learning about Bitcoin are not even doing what I knew them back then. 99Bitcoin YouTube channel use to inspire me, I even had their channel on turn on notification for new uploaded videos until that guy started promoting meme coin and I was pissed and unfollow him. Carl was a very good guy until he started flashy lifestyle with Lamborghini and some expensive lifestyle, he has sold most of his stash.

There are many of the channels that promoted meme coins and bad coins to there followers, they didn't start with these behaviors, it was only Bitcoin until they switched side to promote useless coins. This guy that claimed to buy Bitcoin at one dollar, DaVinci, this guy used that to scam his subscribers and guess what, they don't hold any Bitcoin, they sold but kept using that glory to scam their followers with useless coins. That's how influence work on some people.

[Muskanrani]

Security will never be a one time thing and this is why I always feel like scammers will always have a higher chance if scamming people non stop, because we still need to learn something new before adjusting security.

It means they have every first shot to take advantage of some people before something or someone find out and raise the alarm, this is sadly something that shouldn't be.

I still applies this fear method to my daily life and around my Bitcoin hardware wallet, for instance if a new firmware version gets released I don't like jumping in and update right away, I always leave it be at first unless it's a security patch.

I think that security is not a one time set-up it is a continuous process scammers adapt new tactics to trap the people but unfortunately most of the people realize it after an exploit happen which increase the courage of attackers.

Your approach about Firmware updates is very smart  we should wait for the community feedback untill any urgent security is not fix it is very save and never be the first tester for a non-critical update .


Why do scammers always seem to stay one step ahead in crypto space

How long should someone wait before developing a new firmware update on a hardware wallet???
 

[Pablo-wood]

It's true that quite a few people learn from their mistakes and ultimately succeed in investing in BTC. There are indeed quite a few people like that who don't listen when told by others. The effective solution for such people is, as you said, to learn from their mistakes. But I don't want to see people lose BTC before they realize it and finally learn from their mistakes. What I want is for them to immediately safeguard their assets according to the guidance of those who are experts in investing in BTC and so on.

I just believe there's no one who is an expert in terms of securing your coins. You are your own pro, don't be deceived. Most people fail to understand the basics of ensuring their coins are stored and theh rely too much on others. This is why theh end up making terrible mistakes that puts that coins at risk. There's is alot of security risk posing against our assets, but the only part which would be regretful is when you have not even a single knowledge on what to do to stay on the safe side. Like I said, there's no expert it's just you and how you chose to store your coins.

Relying on others and seeking for advise when necessary are two different things. If i understand Solokan well instead of waiting to learn from our mistake why don't we learn from other people's mistakes and build on them. Listening to people who have succeeded in their investment journey and applying their approach isn't a complete bad idea and I believe that is what we all benefit from the forum where, we leverage on each others experience and apply them in our investments.

[Patikno]

It's true that quite a few people learn from their mistakes and ultimately succeed in investing in BTC. There are indeed quite a few people like that who don't listen when told by others. The effective solution for such people is, as you said, to learn from their mistakes. But I don't want to see people lose BTC before they realize it and finally learn from their mistakes. What I want is for them to immediately safeguard their assets according to the guidance of those who are experts in investing in BTC and so on.

I just believe there's no one who is an expert in terms of securing your coins. You are your own pro, don't be deceived. Most people fail to understand the basics of ensuring their coins are stored and theh rely too much on others. This is why theh end up making terrible mistakes that puts that coins at risk. There's is alot of security risk posing against our assets, but the only part which would be regretful is when you have not even a single knowledge on what to do to stay on the safe side. Like I said, there's no expert it's just you and how you chose to store your coins.

Relying on others and seeking for advise when necessary are two different things. If i understand Solokan well instead of waiting to learn from our mistake why don't we learn from other people's mistakes and build on them. Listening to people who have succeeded in their investment journey and applying their approach isn't a complete bad idea and I believe that is what we all benefit from the forum where, we leverage on each others experience and apply them in our investments.

Fundamentally, learning from the experiences. or mistakes from others; is a wise approach that can help one become more attuned to security matters in the crypto space (including Bitcoin). However, that alone is not enough; everyone must also cultivate a skeptical mindset regarding the information encountered, and avoid placing blind trust in it. It would be a major issue to act carelessly by overlooking crucial details, including the fundamentals of crypto security. These are the conclusions I have drawn from the OP's suggestions.

[Olatundespo]

It's true that quite a few people learn from their mistakes and ultimately succeed in investing in BTC. There are indeed quite a few people like that who don't listen when told by others. The effective solution for such people is, as you said, to learn from their mistakes. But I don't want to see people lose BTC before they realize it and finally learn from their mistakes. What I want is for them to immediately safeguard their assets according to the guidance of those who are experts in investing in BTC and so on.

I just believe there's no one who is an expert in terms of securing your coins. You are your own pro, don't be deceived. Most people fail to understand the basics of ensuring their coins are stored and theh rely too much on others. This is why theh end up making terrible mistakes that puts that coins at risk. There's is alot of security risk posing against our assets, but the only part which would be regretful is when you have not even a single knowledge on what to do to stay on the safe side. Like I said, there's no expert it's just you and how you chose to store your coins.

The few Bitcoin investors I know personally are all very serious about their wallets. I don't know of anyone who hires a second or third party to manage their wallets. I follow almost all the instructions I see on how to keep their coins safe, and the investors I know do the same. I know of some investors who get help from others when they start out, but are careless about how to keep their seed phrases and security keys safe, even though their security measures are the most important thing to consider when it comes to keeping their coins safe. In the initial stages, we need to turn to experts to learn about wallets. If the expert's intentions are not honest, they can keep the security keys and seed to themselves and steal the holdings at the anytime. Be careful about this.

[MusaPk]

Fundamentally, learning from the experiences. or mistakes from others; is a wise approach that can help one become more attuned to security matters in the crypto space (including Bitcoin). However, that alone is not enough; everyone must also cultivate a skeptical mindset regarding the information encountered, and avoid placing blind trust in it. It would be a major issue to act carelessly by overlooking crucial details, including the fundamentals of crypto security. These are the conclusions I have drawn from the OP's suggestions.

Most of people didn't learn from incidents in which other people lost their crypto due to security issues. If we start taking security seriously from day one of our crypto journey then majority of incidents won't happen. Many new comers lose their assets just because they take security for-granted in the start and don't take necessary measures until some bad experience happen with them. If you are coming to crypto market then the first and foremost thing you should need to learn is how to secure your crypto assets. 

[Gost ms]

Fundamentally, learning from the experiences. or mistakes from others; is a wise approach that can help one become more attuned to security matters in the crypto space (including Bitcoin). However, that alone is not enough; everyone must also cultivate a skeptical mindset regarding the information encountered, and avoid placing blind trust in it. It would be a major issue to act carelessly by overlooking crucial details, including the fundamentals of crypto security. These are the conclusions I have drawn from the OP's suggestions.

Most of people didn't learn from incidents in which other people lost their crypto due to security issues. If we start taking security seriously from day one of our crypto journey then majority of incidents won't happen. Many new comers lose their assets just because they take security for-granted in the start and don't take necessary measures until some bad experience happen with them. If you are coming to crypto market then the first and foremost thing you should need to learn is how to secure your crypto assets. 

Yes, I completely agree with you. We often see this aspect that we do not take any action seriously or we do not take action until we face that bad situation. If we consider every action and its risks in advance, then we can definitely protect ourselves from such problems. Almost all the people who have lost their Bitcoins so far are because they did not take all their actions seriously.

Many people lose their Seed Phrase or take pictures of their Seed Phrase and when they are hacked, the hacker easily gets their Seed Phrase. Every person loses their holdings because of their own mistakes.

[Big Dirams]

Fundamentally, learning from the experiences. or mistakes from others; is a wise approach that can help one become more attuned to security matters in the crypto space (including Bitcoin). However, that alone is not enough; everyone must also cultivate a skeptical mindset regarding the information encountered, and avoid placing blind trust in it. It would be a major issue to act carelessly by overlooking crucial details, including the fundamentals of crypto security. These are the conclusions I have drawn from the OP's suggestions.

Most of people didn't learn from incidents in which other people lost their crypto due to security issues. If we start taking security seriously from day one of our crypto journey then majority of incidents won't happen. Many new comers lose their assets just because they take security for-granted in the start and don't take necessary measures until some bad experience happen with them. If you are coming to crypto market then the first and foremost thing you should need to learn is how to secure your crypto assets.  

Majority of this newbies in the investment industry don’t care much about the security measures at all, they focus much on profits the investment offers and how fast they can make this profits and don’t bother how to keep their investments safe and that a high risk because even if we make so much profits from investing and don’t have a safe place to keep it or don’t add more security to where it kept then we can easily loss it and we will be left with nothing.
Investing isn’t about just the profits alone but there are some measures we need to take into consideration. This little things taken for granted are things that can’t prevent some regrets.

[Berry2d]

The continuous improvement or advancement In technology is one great reason the security of our assets requires constant improvement, one may think he or she has known it all after the basic information gotten before getting involved in bitcoin investment without knowing a single mistake can become disastrous due to technological advancement that occurs everyday.
There are times where new or advanced firewalls maybe developed with hope of offering an advance security to our assets and going into it may become the best as we may see it without knowing same way this firewalls are established for more security is also how scammers are advancing to break into our assets.  To be on a safer side, it will be more better we keep moving security wise same way even the firewalls developers and scammers are moving to avoid failing into the  hands of scammers.

[Decimation]

Before buying Bitcoin, it is definitely necessary to know well about Bitcoin and then one should move towards buying Bitcoin. Along with knowing about Bitcoin, one should also learn well how to keep the invested Bitcoin in a safe place. When understand the important things and become expert in accessing the wallet and buying, I will move towards buying Bitcoin.