It is your responsibility to adopt good practice to protect your Bitcoin.

[Mate2237]

It's definitely your responsibility in making your that you secure your Bitcoin, and this means that we all should practice good security measures. This is because as Bitcoin has gain more attention the issue of security has become pronounced and the risk of one getting scammed is becoming more higher. This is where wallet security comes to play, multising wallets sounds good, this is because with multiple people sharing different security and having seed phrase, it will be nearly impossible to hack into such wallets and stealing money. This is because multi wallet involves two to three persons and even if there is a security breach in the part of one person, little or nothing will be done.



Because multising requires that at least two of the parties involved will be there before any transaction can be effected. The key thing here when it comes to security of your bitcoin is always practice self custody. There are those who have the habit of leaving their coins in exchanges that is not self custody and is dangerous in the real sense. Always use a non custodial wallet for the purpose of storage .

[Nheer]

Another possibility which most people who talked about multi sig do not emphasize on is the point of failure, if a multi sig wallet has all its seed phrases or private keys generated from one device or wallet then they have a single point of loss. If that device gets compromised or infected with malware it affects the whole seed phrases generated from it and also same with one wallet.

Imagine if your multi sig wallet seed phrases were generated using coldcard then by now they will also be be vulnerable. So for me as an individual except you have all the devices for each co-signer or each wallet for it then you go for a multi sig wallet but otherwise a single sig wallet with a very strong pass phrase is the best option for me

You're not wrong there's high risk of getting compromised easily when the keys are generated from one device or wallet, most people are simply not aware of this, they may feel having set up a multi sig wallet from a device is secure enough. When keys are generated independently it strengthens the security of the wallet and it's best to have all keys kept in different locations properly separated, that way one compromised key will have no effect on others. Multi sig wallet might offer more security but if things are not properly done there can be vulnerabilities and even a single sign wallet with passphrase can offer more security.

A key note in all this is that users need to be aware that every wallets regardless of their security still have their limits and not completely safe from attacks so we just have to make sure we do things right and take responsibility to safeguarding our assets.

[Nothingtodo]

Of course, it is your sole responsibility to strengthen the security of your Bitcoin wallet. If you do not protect your Bitcoin, who will protect your Bitcoin?
The recent Coldcard hardware wallet hack has become a cause for concern for Bitcoin investors and holders. The hacking of a strong and secure wallet like a hardware wallet should not be seen as a weakness. Those of us who are not serious about the security of our wallets should take the security of our wallets very seriously. Those who have stored Bitcoins in weak wallets so far should strengthen their security. Remember, the security of your Bitcoin wallet depends only on you.

[SOKO-DEKE]

People don't even realize how valuable what they are holding is, which is why they don't take many things seriously. They should understand that anything valuable will attract theirs, which is one of the reasons we need to be extremely cautious because holding something will undoubtedly make you a victim. As a result, you must be ready for any scenario that may arise. from the day of buying you need to prepare for things like this.

It is not that people don't know the value of what they are holding when holding Bitcoin. They know the value of what they are holding. Because tell me, how will someone invest his or her money in Bitcoin and then say that they don't know the value of what they are holding?when it their money that want invested.The point is that when they come into the cryptocurrency industry to invest, they never give themselves time to learn much about what they want to invest in. It is just a little knowledge that some people have about Bitcoin, and they proceed to invest. Even when they invest and start holding, they never go further to learn more about how they will be able to provide proper security for their Bitcoin assets.there are some people holding Bitcoin now, but they don't even know the difference between a custodial wallet and a non-custodial wallet. They never bother to ask, even when they see people talking about it.Not paying more attention to security is the reason some people end up losing their Bitcoin and then start calling it a scam or whatever comes to their head.

[Alphakilo]

Even with a 2 of 3 or 3 of 5 multi sig setup, one or two things needs to be done to ensure it is indeed safe and that may not be far-fetched from backing up the descriptor instead of only backing up your seed phrases while also making sure to verify the address on your hardware of choice', screen.
I also maintain that it is safer to not hold all your funds in one wallet no matter how easy it may look because any leak means all your funds is gone.

This may be serious responsibility of self custody, but if you want to be successful at holding Bitcoin safely despite the coldcard recent incidents, it's better to be safe than sorry and that means putting in the work and the diligence to ensure absolute safety.

[retreat]

We may have said time and again that self-custody is the best way to store your assets, but even so, the responsibility for the security of your wallet remains entirely yours. If you fail to follow best practices for securing your assets, there's a chance you could lose them.

We've seen that practices like passphrases and multisig wallets can be effective in securing your wallet. If you still take these matters lightly and don't view them as essential, basically you will only make your wallet more insecure, and when there are security vulnerabilities, it's possible that you could end up losing your assets simply because you didn't take the necessary precautions to protect them in the first place.

[Donneski]

One mistake a lot of people make is the assumption that their Bitcoin is safe because they're using multisig, this is a good reminder that such assumption is false. The number of keys needed to approve a transaction matters but where and how those keys are kept also matters. That's why it's important to properly seperate them, that way, an attacker will find it extremely difficult to access the funds. Using multisig is a very good practice but the way it is configured still matters a lot.

[Smartprofit]

Storing Bitcoin using multi-signature and multiple hardware wallets seems incredibly complicated to me. Yes, it may be cryptographically secure, but how do you manage such a complex system? 🙋

If you create an overly complex seed phrase storage system, you risk making a critical mistake and losing access to your coins. This has happened more than once in practice. In fact, I think people have lost their Bitcoin more often due to overly complex storage systems than to hackers.

The very presence of hardware wallets reveals to attackers that you own Bitcoin… Is this a risk? Yes, it is a risk! Buying multiple hardware wallets from different manufacturers increases the likelihood that at least one of them will fail or be compromised from the start. Managing multiple wallets is an additional challenge in itself. After all, they need to be stored in different places, right? What if you lose control of where your hardware wallet is stored? Basically, there are more questions than answers…🤷

[Son Of Blockchain (SOB)]

 Self custody demands that people are responsible for the security of their coin so it's wise to always value security and be updated security informations in the blockchain network, many people just want to benefit from Bitcoin, they take other thngs seriously but are careless amount the most important thing which is the security of their wallet.
 You'll be shocked how some people are still yet to understand that multi sig wallets and adding more security with passphrase is a more better security option, some even still store their coins in exchanges which is more riskier.

[HelliumZ]

If the issue of Bitcoin wallet security comes up, then I will say that I will not neglect the security of my Bitcoin wallet in any way. My Bitcoin is a valuable asset left for my future generations that will provide financial transparency and certainty to my future generations. If I cannot keep my Bitcoin wallet safe now, then I will not be able to pass my Bitcoin to my future generations. Of course, I use non-custodian software wallets when choosing my wallet. However, keeping the security issue in mind, I have always saved the security seed phrase of my wallet in important documents.

[Hyphen(-)]

Of course, it is your sole responsibility to strengthen the security of your Bitcoin wallet. If you do not protect your Bitcoin, who will protect your Bitcoin?
The recent Coldcard hardware wallet hack has become a cause for concern for Bitcoin investors and holders. The hacking of a strong and secure wallet like a hardware wallet should not be seen as a weakness. Those of us who are not serious about the security of our wallets should take the security of our wallets very seriously. Those who have stored Bitcoins in weak wallets so far should strengthen their security. Remember, the security of your Bitcoin wallet depends only on you.

Your Bitcoin wallet security is your responsibility as the Bitcoin investor, you want to a decentralized investment where no third party is involved in your investment, you will need to secure your investment yourself, that is why the security measures you will take to protect your Bitcoin is very important.
Learn to keep your seed phrase offline, safe, and duplicated so that you can have backup if you lose or misplaced one. Avoid leaving a picture of your seed in your device as far as it is having access to internet, scammers are real.

Using multi sig wallets is very important, but leaving all the phrases of the signatories in the same place or device is very risky, it should be saved in separate places for security reasons so that if one is compromised, the others will help keep the wallet safe.
Above all, learning the security measures is the first thing to di as a Bitcoin investors because if you are to hold a fiat in a bank, the first step is to have an account, so it’s your responsibility to set up a secured open source wallets that is reliable.

[Joy- maker]

A lot has already been said in this thread, but in the case of coldcard wallet that was compromised recently, it was not due poor security practices of those who were storing their bitcoin in the coldcard wallet. The fault was actually from the developer or the owner of the coldcard wallet, I made a some research about the coldcard wallet, and I came to understand that the wallet is party open source and party closed source. I think people should just stick to open source wallets, and avoiding keeping all your Bitcoin in one wallet, instead diversify across different wallets.

[Franklyn-wood]

Self custody demands that people are responsible for the security of their coin so it's wise to always value security and be updated security informations in the blockchain network, many people just want to benefit from Bitcoin, they take other thngs seriously but are careless amount the most important thing which is the security of their wallet.
 You'll be shocked how some people are still yet to understand that multi sig wallets and adding more security with passphrase is a more better security option, some even still store their coins in exchanges which is more riskier.

One thing we should understand is that we can't do more than the level of what we know. The treat and level at which people are becoming victims of insecurities in Bitcoin majorly is lack of security consciousness or overlooking some vitals that matters to the safety of there investment. Making research to know the best method of storing and securing ones coin often, because daily there are updated news and about Bitcoin that could help.

[dansus021]

It will always be our responsibility to protect our bitcoin, I always tell my friend and my family that seed phrase or private key is same with wallet the only different you can share your wallet but bitcoin it is crucial to not share it with anyone. Just remember: Hardware screens are your final line of defense. Always verify destination addresses, change addresses, and fee amounts on the isolated screens of your hardware devices before approving transactions.

This like personaly advice always use 2 wallet one for daily transcation and second for cold wallet

[Zlantann]

We may have said time and again that self-custody is the best way to store your assets, but even so, the responsibility for the security of your wallet remains entirely yours. If you fail to follow best practices for securing your assets, there's a chance you could lose them.

We've seen that practices like passphrases and multisig wallets can be effective in securing your wallet. If you still take these matters lightly and don't view them as essential, basically you will only make your wallet more insecure, and when there are security vulnerabilities, it's possible that you could end up losing your assets simply because you didn't take the necessary precautions to protect them in the first place.

Best practice? But most people who are victims of the Coldcard hardware wallet vulnerability did not do anything wrong. This is because many of them never knew that a firmware bug had weakened the wallet's security. It was still generally believed that Coldcard was a good product. It was after the hacks that the vulnerability of the wallet became exposed.

I just hope these wallet developers are upgrading their security systems. With the fast advancement of Artificial Intelligence, there might be more attacks on different crypto projects. Everyone needs to keep learning about security because the threats might keep increasing.

[Dareo]

-snip-

Yeah that's obviously an advantage of multisig wallet. Cause even if one key is compromised, the attacker will not be able to spend funds directly, because the Bitcoin script requires a minimum of two valid signatures. However multisig itself is not completely foolproof, because if two keys are compromised, 2 of 3 will no longer be able to provide that protection. And that's why the passphrase is important, also it would not be right to call it a complete security solution alone. Even if a strong passphrase seed is compromised, it can create additional obstacles for the attacker, because using a different passphrase with the same seed creates a completely different wallet. So, I will suggest combined method. Also  I saw that recently Coldcard has also updated their documentation.

[LUCKMCFLY]

I just hope these wallet developers are upgrading their security systems. With the fast advancement of Artificial Intelligence, there might be more attacks on different crypto projects. Everyone needs to keep learning about security because the threats might keep increasing.

That's exactly what I've been thinking since the Coldcard incident. In fact, things aren't so reliable anymore. Before choosing a wallet, we need to have plenty of references that enhance the reputation of the product we're considering.

Wallet developers need to create better security algorithms, paying attention to every surgical detail. I'm even sure many are already thinking about establishing high-security wallet services to offer greater protection.

Centralization is something we always try to avoid. Decentralized services are difficult to maintain while preserving security; this remains complex, which is why latent vulnerabilities exist.

[348Judah]

Don't play with security measures when it comes to bitcoin investment, try to learn what is necessary for you to do whenever you have Bitcoin in your portfolio, avoid the use of centralized platform to hold your bitcoin and also improve your approach to how you handle your asset, that you are using a non-custodial wallet does not make you a completely safe except you maintain that safety measures to avoid losing your assets to scammers/hackers.

[Compromise me]

Bitcoin should be kept in a well protected wallet and all its passwords should be written down in a book in your mind.In difficult times, we can take Bitcoin by looking at it.Along with this, keep your Bitcoin safe with all the things that make your wallet strong. We cannot give the responsibility of its security to a third party because he will protect it again and again and as its value increases, he will get greedy and try to theft it. Therefore, its responsibility is on our shoulders, but it also depends on us that whom we can keep it safe.If we cannot remember many things mentally, then we should write them down so that we can remember them by looking at them if we forget. In addition, after the current situation of Bitcoin scam, everyone confidence is gradually decreasing, so instead of panicking, we should strengthen our security.

[Baki202]

Self custody demands that people are responsible for the security of their coin so it's wise to always value security and be updated security informations in the blockchain network, many people just want to benefit from Bitcoin, they take other thngs seriously but are careless amount the most important thing which is the security of their wallet.
 You'll be shocked how some people are still yet to understand that multi sig wallets and adding more security with passphrase is a more better security option, some even still store their coins in exchanges which is more riskier.

Additionally, if you take your coin's security seriously, you won't have to worry about an exchange being hacked or not. This is because the security of your coin is very important, and people need to know that no one will do this for you. Even if you want to transfer coins, the chain needs to be thoroughly inspected. If you take your security seriously, you'll be able to handle the situation well because purchasing is the least of your problems.

It has reached the point where we need people to realize that they must take responsibility for their assets as soon as they purchase them. I am confident that people should try to follow the examples of people who have been scammed because they were too careless with how they kept their coins, and people who are managing them well, but people are overdoing it. I hope a lot of people get oriented before they start.