Paranoia usually occurs when you invest your last money and therefore are afraid of losing everything. If you act like that, then you have no experience in investing. Any experienced investor will tell you that you should not invest your last money, everyone should have a safety cushion. It is also important to use Top Cryptocurrency Exchanges to be sure of the safety of your investments, or top wallets, depending on how you are going to multiply your investments
I have to agree with that...it was people's mindset and of course, nobody wants to lose their money but rather to grow it. But unfortunately, investments seem not going all that way, we actually experience losses as part and for us to improve then. If we are not going to accept how this works, there is no sense in encouraging ourselves to become an investor. And we don't have to try either as surely we just fail our expectations. 
Topic: are crypto owners naturally paranoid? (Read 980 times)
It seems to me that it would be safer (and more convenient) to keep your crypto on an exchange (coinbase, blockfi etc) than cold wallet. Wouldn't the odds be greater that you mess up your cold storage than a large exchange being hacked or whatever (even if they are hacked, that wouldn't necessarily mean you would lose any coins, whereas if you are hacked that's a different story). I ordered a ledger nano X but it seems that the exchanges are still the way to go based on probabilities. What are your thoughts?
For me, I believe it is a general consensus about holding your Bitcoins in an Exchange wallet as being riskier than In your personal wallet that only you have the keys to and this is also dependant on the quantity. If you are holding some in an exchange wallet for trading, that will be fine but I don't see me Hodling all my BTC in exchange wallet.when storing it up on a HW rather than keeping it on a platform.
We are naturally paranoid but there are still some who are careless and doesnt mind about the importance of wallet security until
they would experience for themselves whenever unfortunate conditions happen.
It seems to me that it would be safer (and more convenient) to keep your crypto on an exchange (coinbase, blockfi etc) than cold wallet. Wouldn't the odds be greater that you mess up your cold storage than a large exchange being hacked or whatever (even if they are hacked, that wouldn't necessarily mean you would lose any coins, whereas if you are hacked that's a different story). I ordered a ledger nano X but it seems that the exchanges are still the way to go based on probabilities. What are your thoughts?
For me, I believe it is a general consensus about holding your Bitcoins in an Exchange wallet as being riskier than In your personal wallet that only you have the keys to and this is also dependant on the quantity. If you are holding some in an exchange wallet for trading, that will be fine but I don't see me Hodling all my BTC in exchange wallet.However, putting just a small number of your crypto in an exchange is a good idea as long as its for short term only. Because the fact that most of the exchanges today are now centralized, then you should be able to perform KYC for legalization, and that they can also take control on your crypto.
It seems to me that it would be safer (and more convenient) to keep your crypto on an exchange (coinbase, blockfi etc) than cold wallet. Wouldn't the odds be greater that you mess up your cold storage than a large exchange being hacked or whatever (even if they are hacked, that wouldn't necessarily mean you would lose any coins, whereas if you are hacked that's a different story). I ordered a ledger nano X but it seems that the exchanges are still the way to go based on probabilities. What are your thoughts?
For me, I believe it is a general consensus about holding your Bitcoins in an Exchange wallet as being riskier than In your personal wallet that only you have the keys to and this is also dependant on the quantity. If you are holding some in an exchange wallet for trading, that will be fine but I don't see me Hodling all my BTC in exchange wallet.
It confuses me always. Some people say decentralized is best, while some people say centralized is best. Some say if centralized is hacked, then they will return your money if it is trackable. However, this is not possible in decetralized.You know, I believe bitcoin was created so that no one could track you or trace the owner of holders. nature of crypto. That is why we are in crypto. But in centralized, we have to submit kyc and they can track who is holding how much. Despite the fact that decentralized exchange is relatively difficult to hack.But if our luck is bad, then anything can happen to us. So I don't know what else I can say.
A day trader should be paranoid, I see no reason why any crypto holder should be paranoid unless they are dumping their entire savings into crypto and gambling on its value for short term gain. This is also the reason why people panic sell. I don't understand the logic, having such an extreme paranoia that you'd rather sell at a loss or undercut yourself because you cannot incur a temporary loss with almost a guarantee that the market will recover. At that point you may want to stop trading.
Paranoia usually occurs when you invest your last money and therefore are afraid of losing everything. If you act like that, then you have no experience in investing. Any experienced investor will tell you that you should not invest your last money, everyone should have a safety cushion. It is also important to use Top Cryptocurrency Exchanges to be sure of the safety of your investments, or top wallets, depending on how you are going to multiply your investments
I tend to prefer to store assets in a personal wallet, because security is our full responsibility, so we don't depend on other parties. Humans are not free from mistakes, therefore to be more secure, I usually store them in several wallets, so that if something bad happens, not all of our assets will be destroyed at once. Therefore, we must be aware of the risks at the beginning
I would never store my hard earned coins or tokens in an exchange even if it’s Binance or top exchanges out there. They are not exempted from getting hacked anytime without warning like the last time’s incident. Cold hardware wallet is much better because you are solely having 100% custody of all the coins and tokens that you have stored.
Yup, that’s correct. I can’t even do that too, I see some people say that they are making use of hot wallets/exchanges for storage of their coins and I’m usually surprised, because the kind of risk that is involved. Although this rarely occurs with the big exchanges such Coinbase and Binance, but they do happen and have happened a few times, just like when Binance got hacked, although it wasn’t a serious case.But, people really have to start being careful so that they don’t regret later. It’s good to have different wallets, one can be a cold storage where you main assets are being stored, and the exchanges will only have assets that you plan on trading for that day or so. If you keep everything on exchange and it gets hit by hackers, you will be losing everything.
Of course, every business must have work risk, risk of loss and risk of loss. As a professional, of course, you must have a backup strategy to overcome the risk of losing your assets. make securing your wallet as difficult as possible so that it is not easily hacked by third parties in your crypto. In addition, do not store all your assets in one wallet or in one crypto, try to store in several wallets in case hackers still have other backup assets.
I would never store my hard earned coins or tokens in an exchange even if it’s Binance or top exchanges out there. They are not exempted from getting hacked anytime without warning like the last time’s incident. Cold hardware wallet is much better because you are solely having 100% custody of all the coins and tokens that you have stored.
Yup, that’s correct. I can’t even do that too, I see some people say that they are making use of hot wallets/exchanges for storage of their coins and I’m usually surprised, because the kind of risk that is involved. Although this rarely occurs with the big exchanges such Coinbase and Binance, but they do happen and have happened a few times, just like when Binance got hacked, although it wasn’t a serious case.But, people really have to start being careful so that they don’t regret later. It’s good to have different wallets, one can be a cold storage where you main assets are being stored, and the exchanges will only have assets that you plan on trading for that day or so. If you keep everything on exchange and it gets hit by hackers, you will be losing everything.
I would never store my hard earned coins or tokens in an exchange even if it’s Binance or top exchanges out there. They are not exempted from getting hacked anytime without warning like the last time’s incident. Cold hardware wallet is much better because you are solely having 100% custody of all the coins and tokens that you have stored.
Now when it comes to being paranoid, it’s like you ended up stumbling in the same stone and never learned from your mistakes over and over again. So many things to consider like not doing your own research (DYOR), not having second thoughts or time to double check when sending a coin or token to a different waller, or not having common sense in a certain situation that would possibly lose you money, and so on.
You would really make out some regrets that you wont really forget for the entire rest of your life thats why you should really be mindful towards your coin possession and its never been recommended or suggested on storing up your assets or coins on an exchange because we know that anytime it could be possibly hacked which means the coins you do have is always been on risk thats why its better to store off your coins on your ownNow when it comes to being paranoid, it’s like you ended up stumbling in the same stone and never learned from your mistakes over and over again. So many things to consider like not doing your own research (DYOR), not having second thoughts or time to double check when sending a coin or token to a different waller, or not having common sense in a certain situation that would possibly lose you money, and so on.
wallet which you do possess its keys.
I would never store my hard earned coins or tokens in an exchange even if it’s Binance or top exchanges out there. They are not exempted from getting hacked anytime without warning like the last time’s incident. Cold hardware wallet is much better because you are solely having 100% custody of all the coins and tokens that you have stored.
Now when it comes to being paranoid, it’s like you ended up stumbling in the same stone and never learned from your mistakes over and over again. So many things to consider like not doing your own research (DYOR), not having second thoughts or time to double check when sending a coin or token to a different waller, or not having common sense in a certain situation that would possibly lose you money, and so on.
Now when it comes to being paranoid, it’s like you ended up stumbling in the same stone and never learned from your mistakes over and over again. So many things to consider like not doing your own research (DYOR), not having second thoughts or time to double check when sending a coin or token to a different waller, or not having common sense in a certain situation that would possibly lose you money, and so on.
And why even thinking about paranoids? As for me, it is rather the opposite - these are people who are not afraid of risk. For even now, many do not believe in cryptocurrency.
Do you know on what paranoid is? People are way too over protective into something which they do mind off in all sorts of possible ways for them to get scammed or hack thats why we are really are too overprotective into our own wallets which i dont see anything wrong with this behavior.
It is really just normal that we do have those kind of actions and mindset yet everything could be a possible way for you to get scammed thats why whenever we do deal up with things then it would really be a normal behavior of ours.
can you say if checking address multiple time is paranoid? like we copy paste two or three time, than check it manual, several time to know that our packet send to right wallet?
that thing is normal for people, and this one happen to our coin box mindset. people will store on wallet or exchanger because they think if it better, save or just easy to make a move.
This thread quite somehow make me laugh 
Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.
Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.
Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.
all their crypto owners are people who are aware of their every action, but once the transaction is done naturally sometimes they become paranoid. I think this kind of incident is natural because when the market price starts to fall, the fear of losing its assets will inevitably occur, even though some people can control it. Feelings like that can be said to be paranoid but not a mental disorder that continues to occur.
This thread quite somehow make me laugh Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.
Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.
Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.
all their crypto owners are people who are aware of their every action, but once the transaction is done naturally sometimes they become paranoid. I think this kind of incident is natural because when the market price starts to fall, the fear of losing its assets will inevitably occur, even though some people can control it. Feelings like that can be said to be paranoid but not a mental disorder that continues to occur.
I don’t agree as for me it would be safer if you keep your huge funds in cold wallet or in Nano X. As you have full control of your crpyto assets. As what most people usually say, “Not your keys, not your coins.”
Because in Centralized exchange like Binance and any other alike, it is prone to hack. And once it was hacked, it was gone forever. I don’t think it will be returned once it was hacked.
Because in Centralized exchange like Binance and any other alike, it is prone to hack. And once it was hacked, it was gone forever. I don’t think it will be returned once it was hacked.
This thread quite somehow make me laugh Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.
Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.
Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.
For me cold storage is still much better you just need to have the right knowledge on how to use it and you're all safe. In exchanges, though the level of security on top exchanges are very high, you should not ignore the fact that there are still chances that it can be hack. Hacker are improving day by day, cracking newest technologies and being smarter than before. That's just my opinion. But I guess it will still depend on what wallet you are very much comfortable to use.
Hacking can happen to an exchange, not just to a cold wallet. I think that's why most exchanges and wallet are tightening their security to prevent the issues of hacking. However, as a user it is imperative for you to keep your password, key phrase safe.
There's a pros and cons on this matter. Exchange has an insurance policy for all the funds loss in case there system was breached so there's an assurance for newbie that they will refund there account once this incident happened. The problem on using a cold storage as newbie is when they import there hardware device to malicious site or there desktop is infected by a malware. They will easily loss there fund that way rather than storing there funds on exchange.
It depends on the user capability on how they will setup security and know the safety precautions for a cold storage to become safe. Cold storage is safe technically but with the interference of lack of knowledge from its user. It might result to a disaster on one wrong move.
Bitcoin owners yes,,, but if you take a look at defi and nft and memecoin space which are the most popular now, you see everyone jumping in on new tokens and new defi platforms, and locking tokens here and there, connecting wallets to every site and game.
This is not paranoid behavior at all
This is not paranoid behavior at all
You are right Bitcoin owners usually have paranoid behavior, while for newbies who are obsessed with big profits. Then investing in new projects and meme coins does not show paranoid behavior, even though most newbies do not have knowledge and experience in the crypto world, but they don't seem to have any fear in them. Even though they all know that the risk of investing in new projects and meme coins is very large.
So not all crypto owners are naturally paranoid, only for people who have had bad experiences in the crypto world, or for people who do know
the worst case scenario that will happen if investing in crypto is more paranoid.
Not even this! I know people who keep losing in ICOs, and keep losing money in rugpulls and keep coming back for more. People who lose wallets, or make mistakes sending to different wallets,,, or copy paste mistakes. And still do it again and complain again to support expecting their mistakes to be returned.
Newbie or oldie,,, if people are dumb, they are dumb.
I would rather have to choose to say that crypto owners are well-aware, curious and practiced to keep their assets in a well-safe environment than saying a word paranoid. Maybe to other person they may call us paranoid because we have a fear to lose our assets especially losing it through hacking or scamming or phishing but at least we do know how to protect our assets. Imagine owning a 1btc now, like if I would going to convert it into our fiat currency I am already a millionaire, so I would definitely going to protect it, even if other might say that I am getting paranoid over it.
Choose whatever it is you want to say,,, either you are living in a coccoon or you do not even really know crypto owners like 90% of commenters who actually do not really use crypto.
You do know 1 btc is not $1 million right? And what is the difference btc or fiat? Why would anyone protect it differently?
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