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

[Yeesha]

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..

Your points are understandable, since wise man said "experience is the best teacher" we should go by that. No matter how much you try to make some people understand, they will never get it, until they learn it through the hard way. Avarice is part of the things that are causing secret problems to an individual. Starting bitcoin investment just because you see other people benefiting from it, cannot make you like them. Because if they didn’t follow the appropriate steps and do the needful, there is no way you will you will meet or see them in that position. What will shape your investment depends on the level of your decision-making, you must know your purpose and secure a good storage in order to reach your destination.

[Fordsmith]

Security should come before profit. I learned the hard way too, but not because of wallet security. My biggest losses came from trading decisions and not knowing when to walk away. In crypto, protecting your coins is important, but protecting yourself from your own decisions is just as important.

[Loyang]

Security should come before profit. I learned the hard way too, but not because of wallet security. My biggest losses came from trading decisions and not knowing when to walk away. In crypto, protecting your coins is important, but protecting yourself from your own decisions is just as important.

You have taken a risky decision like trading and faced losses. There are many people who cannot make the right decision and they decide to trade after seeing other people or seeing a tempting path like trading. But if a person had done research before taking this decision and if he knew about the risks of trading then he would never have taken such a foolish decision and they would have been able to protect themselves from losses.

Before buying Bitcoin, a person must definitely do proper research on what they are willing to do, such as whether they will trade or invest. If a person can make a decision after proper research then it is expected that that person will be able to succeed in trading.

[WhoYouCantKill]

Your points are understandable, since wise man said "experience is the best teacher" we should go by that. No matter how much you try to make some people understand, they will never get it, until they learn it through the hard way. Avarice is part of the things that are causing secret problems to an individual. Starting bitcoin investment just because you see other people benefiting from it, cannot make you like them. Because if they didn’t follow the appropriate steps and do the needful, there is no way you will you will meet or see them in that position. What will shape your investment depends on the level of your decision-making, you must know your purpose and secure a good storage in order to reach your destination.

Experience is indeed the best teacher but there are also certain financial mistakes that are too expensive to learn from. Merely seeing someone making some profits from become doesn’t show the decisions , risks and strategies involved behind the result you’re seeing. Which is why it’s crucial to first understand everything about a person’s financial situation, position, risk tolerance and even goals before you decide to copy their approach and not simply because you only saw that they’re making profits, because if your situation is different from theirs, then you might just end up getting a different outcome and result.

[Rhow]

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..

Your points are understandable, since wise man said "experience is the best teacher" we should go by that. No matter how much you try to make some people understand, they will never get it, until they learn it through the hard way. Avarice is part of the things that are causing secret problems to an individual. Starting bitcoin investment just because you see other people benefiting from it, cannot make you like them. Because if they didn’t follow the appropriate steps and do the needful, there is no way you will you will meet or see them in that position. What will shape your investment depends on the level of your decision-making, you must know your purpose and secure a good storage in order to reach your destination.

Some people try to learn everything in advance. But it is probably quite difficult to convince them that they will not be able to learn everything about Bitcoin by studying alone. That is why new investors who are interested in starting are always advised to start with small amounts. This way, they can start at the same time and get the opportunity to learn from real experience.

However, those who think that they have to learn everything in advance. They are actually wasting time. It can take years to learn everything about Bitcoin. Wasting so much time is definitely not a good decision. It is important to understand the risks, volatility, and how much money to invest in Bitcoin at the beginning. Later, by starting, you will understand what is the right decision for you.

[Makus]

@op, I must also add that newbies should be careful of strangers who come to them with offers that seem too good to be true and are unsolicited. Scammers know their targets, and these targets are mostly newbies who are yet to understand crypto.

If I were a newbie, I would avoid people I do not know who invade my privacy, seeking to help me with things I didn't ask them to do. Unfortunately, many newbies enter into investing in Bitcoin with greedy tendencies.

Another way newbies can help themselves is by not treating Bitcoin as something that can help them get rich quickly. Even with all the security measures taken, newbies still fall for scammers because they are promised quick wealth. Too bad that some newbies already had that faulty mentality even before they started investing in Bitcoin officially.

It is important for newbies to get their informations from the right source otherwise it would be impossible for them to get proper updates, the main reason why a lot of people get scammed is mainly based on the fact that they don't make their research from the right sources. The forum is an avenue that teaches beginners all they need to know about Bitcoin and if they can patiently read and understand what is been explained here about Bitcoin they would not be falling for scammers so easily. Like you also added, the mentality of trying to get rich quick is also a problem and even for those that have the knowledge about it this greed makes them fall for scammers.

[L E G E N D A R Y]

It is important for newbies to get their informations from the right source otherwise it would be impossible for them to get proper updates, the main reason why a lot of people get scammed is mainly based on the fact that they don't make their research from the right sources. The forum is an avenue that teaches beginners all they need to know about Bitcoin and if they can patiently read and understand what is been explained here about Bitcoin they would not be falling for scammers so easily. Like you also added, the mentality of trying to get rich quick is also a problem and even for those that have the knowledge about it this greed makes them fall for scammers.

Research can indeed be quite helpful, but it’s only one thing to know where to look, in fact that’s only half the challenge, it’s also very crucial to learn how to question everything you read, rather than just believing and acting upon them blindly. Because even scammers have become smarter lately, they can present a very convincing information and use the language of experienced investors just to gain the trust of their victims. But when a person has the ability to independently verify every single claims, then it means that they’ll be just able to separate genuine education from manipulation, and this can help anyone avoid falling into the traps of scammers.

[Tetu100]

Security should come before profit.

That is true because if we are not taking our security  concerns so serious as expected and for that reason scammers gained access in sweeping off our coin, how then can we comfortably get the profit we're pushing, absolutely no way. Therefore, there shouldnt be a misplaced priority here else we learn some new things.

I learned the hard way too, but not because of wallet security. My biggest losses came from trading decisions and not knowing when to walk away. In crypto, protecting your coins is important, but protecting yourself from your own decisions is just as important.

So sad bro but it's fine that you've now know better. However, trading isn't that saved the way investing is, that is why most times when dealing with bitcoin I prefer investing over trading. I can't suggest it to anyone, not when I know the risk involved. Anyway, there is still time for you to invest, maybe this can be more fair to you than trading.

[SPIDERMAN008]

Your points are understandable, since wise man said "experience is the best teacher" we should go by that. No matter how much you try to make some people understand, they will never get it, until they learn it through the hard way. Avarice is part of the things that are causing secret problems to an individual. Starting bitcoin investment just because you see other people benefiting from it, cannot make you like them. Because if they didn’t follow the appropriate steps and do the needful, there is no way you will you will meet or see them in that position. What will shape your investment depends on the level of your decision-making, you must know your purpose and secure a good storage in order to reach your destination.

I agree with you. It is never right to make your investment decision by looking at the profit of others, unless you have your own financial capacity. Experience has a lot of value and importance. But in making your own investment decision, you should proceed depending on your own financial capacity and mindset. And before investing in Bitcoin, a person should make sure whether he can hold it for a long time, whether he can buy Bitcoin regularly. Along with this, one should be concerned about security issues and should also give importance to forming a strong backup fund. And in the case of Bitcoin holding, it is logical and safe to use a wallet instead of keeping it on an exchange. And in Bitcoin accumulation, I personally think that following the DCA method is more convenient.

[Obiavelliii]

For the fact that Bitcoin is a digital based asset it's very important to have a security conscious mind  and to take right action in that respect, speaking from what I've read in the thread so far, I just have a question. What is the best way to go About this, exchange wallet, software wallet, hardware wallets etc... which way is 100% secure?

[Sulegzy39]

In my own opinion Unless you have your own financial capacity, it is never appropriate to base your investment decisions on the profits of others. Experience is very valuable and significant. However, you should make your own investment decisions based on your own financial situation and attitude. Additionally, a person should confirm that he can buy Bitcoin on a regular basis and that he can hold it for a long time before making an investment.

In addition, security concerns should be taken into consideration, and creating a solid backup fund should be prioritized. Additionally, using a wallet rather than storing Bitcoin on an exchange makes sense and is secure. Additionally, I believe that using the DCA method is more practical when accumulating Bitcoin.

[Yeesha]

In my own opinion Unless you have your own financial capacity, it is never appropriate to base your investment decisions on the profits of others. Experience is very valuable and significant. However, you should make your own investment decisions based on your own financial situation and attitude. Additionally, a person should confirm that he can buy Bitcoin on a regular basis and that he can hold it for a long time before making an investment.

In addition, security concerns should be taken into consideration, and creating a solid backup fund should be prioritized. Additionally, using a wallet rather than storing Bitcoin on an exchange makes sense and is secure. Additionally, I believe that using the DCA method is more practical when accumulating Bitcoin.

Imitation is not always the solution to our problems. Everyone should strive to live a meaningful life in a way that is suitable for them. If you want to start an investment,, do it in a way that suits your individual circumstances, abilities and value. You don't necessarily have to start your investment with the same amount as your friends before you can be successful. Find your own goals and objectives, learn from your friend's experience and choose a path or a way that is suitable for your abilities and financial situation. There is nothing immoral in learning from your friend's experience, but you have to limit all that you do, because seeing your friends having good time with their investments, might motivate you to choose their ways, things does not always work out that way. You just have to be smart and wise enough to make your own decisions.

[Bitcoin Maxi]

 Very nice points here. Another thing is that even after all this advices, some people would still fall victims I sometimes feel some people actually learn very well when they are learning from their past experiences or their mistakes. There are probably investment we see and our instincts will tell this a scam but because some people are overwhelmed with making huge returns from the projects they fall into the hands of scammers. By the time one develop a security mindset he should be able to learn how to identify scam project, newbies should be very careful not to click every links tossed around, platforms promising to double your bitcoins. Bitcoin as a digital asset is volatile and does not guarantee any exact profits so any platform telling you that , should make you to be suspicious and to know that ii is scam. learning to keep our financial information private and develop a security mindset so as to be able to secure our money should be our priority.

[Decimetre]

For the fact that Bitcoin is a digital based asset it's very important to have a security conscious mind  and to take right action in that respect, speaking from what I've read in the thread so far, I just have a question. What is the best way to go About this, exchange wallet, software wallet, hardware wallets etc... which way is 100% secure?

To think of any method that's 100% is very difficult because systems change and security apparatus also change. The best security approach should be getting acquainted with every upcoming security approach in addition to ensuring your private keys are private. Do not trust anyone with your log in details and whenever you suspect any form of compromise, update your details and change your pins (exchange).

Your non custodial wallet safety is dependent on how well you're able to protect your seed phrase. Ensure you secure your own end and get used to security updates. If you see any news of attack on the wallet, you move your funds out immediately if it has not been affected.

Various wallets said to face stood test of time are getting hacked, and more can still happen due to technological advances. So be prepared at all time to change or take any precautionary measures when there's a suspicion of any kind.

[Different patterns]

Some people try to learn everything in advance. But it is probably quite difficult to convince them that they will not be able to learn everything about Bitcoin by studying alone. That is why new investors who are interested in starting are always advised to start with small amounts. This way, they can start at the same time and get the opportunity to learn from real experience.

However, those who think that they have to learn everything in advance. They are actually wasting time. It can take years to learn everything about Bitcoin. Wasting so much time is definitely not a good decision. It is important to understand the risks, volatility, and how much money to invest in Bitcoin at the beginning. Later, by starting, you will understand what is the right decision for you.

You are right, waiting to learn everything before buying still keep many people waiting until today, because if it bitcoin you want to know everything before buying, that mean you may miss many opportunities, because leaning in bitcoin is a continue process, there’s always new things to discover when learning about bitcoin. What I think is advisable is to learn basic first, such as how to manage your financial situation,  understand the risks involved, start with discretionary income, and invest what you are comfortably with, I think with these, investing gradually and continue to learn, you can understand many things better instead of waiting to understand everything before start.

[Berry2d]

Your points are understandable, since wise man said "experience is the best teacher" we should go by that. No matter how much you try to make some people understand, they will never get it, until they learn it through the hard way. Avarice is part of the things that are causing secret problems to an individual. Starting bitcoin investment just because you see other people benefiting from it, cannot make you like them. Because if they didn’t follow the appropriate steps and do the needful, there is no way you will you will meet or see them in that position. What will shape your investment depends on the level of your decision-making, you must know your purpose and secure a good storage in order to reach your destination.

I agree with you. It is never right to make your investment decision by looking at the profit of others, unless you have your own financial capacity. Experience has a lot of value and importance. But in making your own investment decision, you should proceed depending on your own financial capacity and mindset. And before investing in Bitcoin, a person should make sure whether he can hold it for a long time, whether he can buy Bitcoin regularly. Along with this, one should be concerned about security issues and should also give importance to forming a strong backup fund. And in the case of Bitcoin holding, it is logical and safe to use a wallet instead of keeping it on an exchange. And in Bitcoin accumulation, I personally think that following the DCA method is more convenient.

Even with equal financially capacity or above it is never advisable drawing once investment plans why looking at the profit margins of others, investment at times do have different ways of outcome so investing with same investment plan of others at times do turn disastrous because you may not have same luck as others.
The security aspect of all investment is what most be considered with great concern because investment is useless if it cannot be protected. It will be more preferable if more attention is channelled on the security aspect of our investment as that is the most important aspect of all investment

[Doll2233]

Very nice points here. Another thing is that even after all this advices, some people would still fall victims I sometimes feel some people actually learn very well when they are learning from their past experiences or their mistakes. There are probably investment we see and our instincts will tell this a scam but because some people are overwhelmed with making huge returns from the projects they fall into the hands of scammers. By the time one develop a security mindset he should be able to learn how to identify scam project, newbies should be very careful not to click every links tossed around, platforms promising to double your bitcoins. Bitcoin as a digital asset is volatile and does not guarantee any exact profits so any platform telling you that , should make you to be suspicious and to know that ii is scam. learning to keep our financial information private and develop a security mindset so as to be able to secure our money should be our priority.

Being a human learning is a lifetime thing; we always need to stay on level for learning because no one is perfect and always needs to have improvements and check our mistakes. Most people, after making mistakes, try to rethink their strategy and have improvement, but many always stay on a level where it never works for them, and they never understand how to set their next move where they will be able to have a safe zone.

Security is now one of the most challenging things because day by day scammers are bringing tactics that are giving them a chance of entering into every place where they can, and also, their required stuff has recently been too many big things happen, which are alarming. Never having anything that increases the chance of getting worse is always needed.

[5W-KILO]

Going with the safest option is the best thing to do at this point, Multisig is the safest way of keeping your Bitcoin safe because hardware wallets with singlesig isn't looking like something anyone can rely on anymore.

If you don't want to take any risks I advice you try Multisig, security mindset is going to most extreme when it comes to keeping your Bitcoin safe, from there you can start looking into information about scammers tactics and also those of hackers.

Keeping your recovery seed or private keys offline is also a top priority, don't play around with your recovery seed if you don't want to risk losing your coins.

[L E G E N D A R Y]

Even with equal financially capacity or above it is never advisable drawing once investment plans why looking at the profit margins of others, investment at times do have different ways of outcome so investing with same investment plan of others at times do turn disastrous because you may not have same luck as others.
The security aspect of all investment is what most be considered with great concern because investment is useless if it cannot be protected. It will be more preferable if more attention is channelled on the security aspect of our investment as that is the most important aspect of all investment

The real problem is that a lot of people only focus on the profits that others are making without even taking time to also think about or consider the potential risks that they had to deal with before actually achieving that result. So they think if they just learn and copy their strategy, they’ll also make the same profits they’re making, without realizing that an investment plan and strategy should be chosen based on the individual’s financial situation and risk tolerance, and not just because it’s working pretty well for the next person.

[Tank67]

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.

When it comes to buying and holding which is investing then since the idea is for you  to keep in your wallet because it is much more safer than in exchanges because a lot of circumstances have made people feel very unsafe when it comes to leaving your fund in an exchange and you won't blame anyone because the news is out there of how some exchanges were hacked and that is why it is safe keeping your bitcoin in a wallet.  And the security of that wallet is on you because it is a self custody so you are responsible especially for those thatbare holding for a long time.