Why Many Beginners Misunderstand How Bitcoin Wallets Works

[Sammysmart001]

That's a pretty weird question, OP. Let me ask you a counterquestion. : Were you born smart already? Or you were given some knowledge, and step by step you learned not only to walk but also to think.

Doesn't a beginner stand for someone who doesn't know something? Yes, being a beginner, I didn't understand anything at all, and everything and much can be read in the user history. We, those who came here not understanding much, studied, read, and asked. When I came to the forum, I was afraid to try anything with bitcoin for a very long time until a very kind and very good person literally explained everything to me on his fingers, for which I am immensely grateful to him. Therefore, I would like people to take their time, as haste can make a lot of mistakes, such that you can lose your finances afterwards, and you will only have to complain about your stupidity and laziness.

Nice perspective, i do understand your point but my intentions are not that we should expect that the beginners should kn how Bitcoin works from the very start. But rather I want each and everyone to reflect on their very beginning of learning journey let all hear from your very beginning, how started before now that you alrady know how Bitcoin works. Generally learning takes time and a bit by bit to get to understand how things works, having to rush out things brings mistakes

[Crytohillss]

That's a pretty weird question, OP. Let me ask you a counterquestion. : Were you born smart already? Or you were given some knowledge, and step by step you learned not only to walk but also to think.

Doesn't a beginner stand for someone who doesn't know something? Yes, being a beginner, I didn't understand anything at all, and everything and much can be read in the user history. We, those who came here not understanding much, studied, read, and asked. When I came to the forum, I was afraid to try anything with bitcoin for a very long time until a very kind and very good person literally explained everything to me on his fingers, for which I am immensely grateful to him. Therefore, I would like people to take their time, as haste can make a lot of mistakes, such that you can lose your finances afterwards, and you will only have to complain about your stupidity and laziness.

Nice perspective, i do understand your point but my intentions are not that we should expect that the beginners should kn how Bitcoin works from the very start. But rather I want each and everyone to reflect on their very beginning of learning journey let all hear from your very beginning, how started before now that you alrady know how Bitcoin works. Generally learning takes time and a bit by bit to get to understand how things works, having to rush out things brings mistakes

What am not really trying to encourage is for everyone to reflect on the beginning of their own learning journey. Share what it was like when one first begin before one gained the knowledge one have today learning is a process no one knows everything at a start knowing comes step by step. Trying to rush the process often leads to confusion and mistake. That's why it's valuable to hear different experience they can encourage and teach those who are just getting started.

[Miles2006]

Traders are the ones likely to store their coin in an exchange, considering that exchange is seen as a third party wallet I doubt if 90% of newbies fall into the category of wanting an exchange to store their coin. A simple research can actually help, well I was privileged to an extend these informations was learnt first even before holding my first coin.
Holding bitcoin is all about being possessive, the wallet store the coin yet this depends entirely on an investor basically it’s our duty to protect every private and important information regarding our wallet otherwise anyone can gain full access like hacking into our account.

[tbct_mt2]

Traders are the ones likely to store their coin in an exchange, considering that exchange is seen as a third party wallet I doubt if 90% of newbies fall into the category of wanting an exchange to store their coin. A simple research can actually help, well I was privileged to an extend these informations was learnt first even before holding my first coin.
Holding bitcoin is all about being possessive, the wallet store the coin yet this depends entirely on an investor basically it’s our duty to protect every private and important information regarding our wallet otherwise anyone can gain full access like hacking into our account.

Centralized exchanges are likely the most favorite places for people to make their Bitcoin purchases. Hence, if they are not aware of risk of centralized exchanges, they will leave their bitcoin there, just for holding. They are not necessarily traders to leave their bitcoins on centralized exchanges.

Clearly it is not a good practice, and there are many reminders about risk, recommend people to do different practice: withdrawing bitcoin from centralized exchanges to their non custodial wallets.

Reminder: do not keep your money in online accounts
Be careful using Binance & Centralized Exchange
OKX frozen my account and required me to KYC with a less than $1,000 deposit
Recent events should make everyone withdraw all their coins to their own wallets: Part 1
Recent events should make you withdraw all your coins to your own wallet: Part 2
Recent events should make you withdraw all your coins to your own wallet: Part 3
Get your coins out of custodial wallets now: Part 4

[Asuspawer09]

I guess it is probably because most of us here started creating the Bitcoin wallets or our crypto wallets when we are just a beginner or doesn't have a lot of knowledge about it yet, we didn't really do a lot of research about it most of the time we just started creating it because we wanted to try and experience it, it's not like we do our research first so when we do we mostly make the mistakes because we don't understand it yet, even me when I created the my wallets I don't really know what to do with my seed phrase or my private key so what usually happened is im just gonna save it anyway on my phone or pc or something then forget about it not realizing what i've done and I will just end up losing it because I probably lost the key or deleted it.

But now that I already have a lot of experience and I undestand it a lot better now I now know what to do, create a wallet then save and backup my private key on offline, usually just put it on a notebook then have a offline flashdrive where I store my wallet seed phrase, wasn't the best thing to do but it is better than just doing nothing and forgetting your seed phrase.