Topic: Don't trust your old wallet of when u had no Crypto knowledge (Read 770 times)

Creating new wallets is not as hard as we might think and we need to keep creating new wallets to differentiate our wlalt from the rest.
Th repeated use of hold wallet can be somehow unsafe from us because the private key might be exposed to the public and we might be surprised to face the consequences of trying to convert an old wallet to the one we could be using to keep all our transactions.
Since creating a new wallet is very easy without much difficulty steps, it is good when create new ones to carry out a separate transactiona.

And having newbies the privilege and benefits of doubts, I also think old members should at times try to understand that newbies might not be grounded so much in the forum to posses the abilities of putting every of intended details on an understandable ways, sometimes they could have some important messages to pass through but their newbies inability are not sufficient enough to let them make it standard for a proper understanding.
We could do well and correct them that this is how is was supposed to be Instead of the other ways.

They are here to learn and so every forum users too. As long as we keep coming across new things it is to be accepted that it might be something we may either have a layman's thought of it but not dipped in thought of grabbing it all.

However, I think the OP is trying to pass some advices about wallets straight up to the fellow newbies.
I understood in his contexts that during most of us times when we are Into acquiring knowledges about Bitcoin before we invested our funds, we do had guidance someone who has be building us all through those times of learning about Bitcoins.

So to my best understanding, he claims to say we should not trust the wallets created for us by our guidance during the learning days because due to privacy demands about this Bitcoin investments, someone you trusted can turn out sometimes else in the future meaning to say the guidance may still have access to the wallet without your notice as a newbie those days.

Sometimes too you may have been careless with your seed phrases during your learning stages so to be in a safer side during when you must have acquired the a suitable knowledge that is fit enough to guide your investment, you can as well create a new wallet and trash the others just to secure your assets and as well keep a privacy to your investment.

Don't reuse your old wallets but don't throw them away. Make sure you always have back ups of your old wallets, just note them as old wallets for yourself to know in order to don't reuse them.

It is easily to create a new wallet in cryptocurrency so it's a best practice to create new wallets when you are unsure about your practice in the past and when you need to expose your fund to a new platform, new smart contracts.

New projects have risk of some back doors or security issues so you must protect yourself at the start.

Even if you have crypto knowledge it's still not advisable to use your old crypto wallet because you are still very knew to crypto and nobody have the right knowledge when they are a beginner, so either you have the knowledge or not, everyone was once a newbie, do not use your old crypto wallet, the chances that it's been compromised already is very high.

I believe that no one is capable of remembering how they use their first crypto wallet when they came into crypto space, with the hope of having some knowledge we must have tried a lot of things just to get by, and knowing which is right or wrong remains unknown. 

To avoid unnecessary mistakes it's better to download and create a new crypto wallet from scratch and keep the recovery seed offline, let what's bygone be bygone, new wallet is way safer.

I believe most of us have created tons of wallet back in the day we still a new comer to the crypto world, and then we just forget the private key. From Bitcoin to Ethereum, and other thing like Litecoin, Monero and other stuff. So, I doubt if people is still using their old wallet from the time they are still reckless, most of them would already lost it and create a new wallet.

Also I guess people wouldn't store much worth of a crypto on their old forgotten wallet, most of my forgotten wallet filled with worthless Ethereum and Stellar Token.

Using the same wallet to participate in airdrops and using it for storing coins should be avoided. I do not suggest anyone use a regular device to store their crypto. Recently, I started checking some airdrops, and I do it with a different browser. The most important thing is that you have to avoid projects that come from unknown sources. I follow some influencers, and they work on those projects as well. I am not working actively, But I am keeping my eyes open.

Random forum account is not a trusted source. Even if they post it in public, make sure you know the project before you click on anything. Or make sure you want to take the risk to open a link from unknown person. Do it with your own risk.

Creating new wallet will not eat a lot of time so this should not be an issue for new people to execute since by grabbing fresh wallet which they know much safer they can get away on any possibilities that they might get compromised. Some fail to do it experience a hacking so they should not wait for certain incident like that to happen before they would think about changing their wallet since for sure we can't afford to lose money by simple mistake which is avoidable to happen.

For sure at early part of our participation on crypto activities we are not aware on the risk and there's a chance that we mishandled it that's why the chance to be on risky situation is so high so its important for us to have new wallet grabbed so that we can safely go and don't worry about the balance we left on our new wallet.

Guidelines or even a walkthrough are always shows when you are creating a new wallet, you have already know something about it, simply because you have read or see it, in the web, and keeping your wallet safe, are always written even on blogs or videos of a blogger, maybe its safe to say that you should not share your private keys with other people, because this are most cases you are lured into a website where they tricked you to input your seed phrase without knowing its not a legit website.

I agree with this. Even though in public they will get different opinions, people won't be able to deceive them into scamming them because others will see and point out that it's a scam.
This is a reason why newbies should be ready to read and research. Be it in private or public, when you hear something new try to read up on it and get a better understanding before deciding on the matter. Verify and ask questions from 2 other people to be certain.

I believe asking questions publicly is good because it can also benefit someone else. A lot of newbies have used their addresses for airdrops and clicked on different links and now they still use those same wallets and addresses to keep their coins. If something like this was discussed privately, I don't think they'd know that it's not safe.

We can't afford to just waste our hard-earned money on storing our coins in an old wallet believing that it was already compromised. Therefore, we need to create a new one for security assurance, and at least, we are confident that nobody knows the keys/password. It is very important that we have to be more cautious when storing our keys and one big factor is to know how secure is the wallet we use and if we see any suspicious activities, it only means that there is something happening and already accessed by other people. And much more careful when using an old exchange wallet even if that was just for trading.

Discussing everything in the general chat is better because beginners will only accept the advice given by people in the chat. and this is also an education for beginners that no one will teach them they volunteer and send messages as if they are someone who really cares. in the end you will only be sent a phishing link which is a trap for beginners to lose all their assets and commit fraud and the like. Beginners should be more alert to someone who suddenly sends any message. all help can be obtained easily without having to send a private message.

What really happened is that when someone is teaching you or is making wallet for you you need to be very careful and mindful or watchful to know how he is sharing you seed phrase although you made a very good suggestion but sometimes even though you create the wallet yourself and still not careful about it same thing could likely happened to you without knowing where it is coming from. Wallet creation requires utmost privacy because if you don't guide yourself very well then your investment is for someone else since that person won't know what you passed through to have accumulate those bitcoin they easily empty your wallets, the best is to have a hardware wallet after gaining the knowledge that is required over the period of time.

If there is anything I am more conscious about in the crypt currency space, then it is my asset security and protection. I don't joke with my wallet information, if by any carelessness my wallet information is exposed or I feel insecure with my wallet safety, I will create a new wallet and move my asset from the exposed wallet information.

There are wallets which also makes use of pass phrase which need user to combine both the phrase and the pass phrase in other to be able to gain full access to the wallet, as for exchange those are just account which are linked to the users email or what ever details that was used to create the account they can always login to it from any part of the world just having a network connection and the right login details which if they don’t have it they can always request for change of password.

With wallet phrase or private key you can still recover your wallet but some wallet I guess made the passkey password compulsory needed in other to gain full access to it especially on wallet that requires them.

and what about people who started to send private messages to other members to know these things? Even though the person helps a newbie, I believe it is not correct to send a private message to others to learn such sensitive things. It is advised to discuss everything in private so that others cannot misguide newbies. I guess a lot of us heard about crypto exchange scams.

Some bad people try to misguide newbies so they can get some advantage to scam them. They suggest they open an account on a phishing website and then steal their cryptos. So, newbies should discuss everything in public so the percentage of making mistakes can be reduced.

You're right. People should not always rely on a previous exchange address they last used a long time ago without checking with the exchange before depositing into that exchange. Sometimes, exchange updates can also include wallet change. For me, a month is the limit. I must crosscheck before transferring once it exceeds a month.

Newbies do that mistake and I don't blame them that much because they always appear lost. Those I blame are the ones who take advantage of them. I've opened several accounts for those I mentor but I made sure not to peep at their passphrases while they copied them. I distanced myself and allow them do that alone. Thereafter, I ask them if they saw what I did while they were writing their passphrases down and make them get the consciousness of not allowing anyone else see their passphrases. It should be that simple.

It's understandable when beginners make these mistakes because they don't understand how crypto works. I also made a lot of mistakes in the past about how to use a wallet and how to secure it. As time went by I started to learn and find out what needed to be done to make a wallet and secure it. as a beginner you must have the desire to learn independently in order to understand what you are doing.

Thank you so much for this important advice, as a beginner we might have done many mistakes relating to security of our wallet, it is important we need to take note of this. Some people at the the early time of knowing cryptocurrency some persons might have helped in creating a wallet for them, it is important such wallet needs not to be functioning for security purpose.  Creation of wallet should be personal and no third party.

Security of wallet is an important aspect of bitcoin that beginners always take for granted by not trying to get more information about it to make sure that it is handled in a proper way that other people won't have access to it. Wallets are what investors don't need to joke with because with a slight information of wallet details that are supposed to be private it is possible for you to lose all your money in the wallet.   This is an important topic that investors needs to look into because their was a time thst wallet information was not handled with care.

Crypto newbies do not understand what is seed phrases are for and what is the private key. Most of the newbies think it's like creating an account on an online platform with an email and password. If they forget the password, what's the problem? They will use forgot password feature and recover their wallet. That's how exchanges work! But, they do not understand that Non-custodial wallets do not work like this.

I have used centralized exchanges for a long time as a wallet before I understand the importance of non-custodial wallet. So, all we need is awarness so everyone understand why they should backup their private key and seed phrases.

Yeah kind of that. It is also not just about if you have misplaced your seed phrases at those times and yet you still uses the wallet. We should also consider the fact during our beginnings we never took the seed phrases keys so private that no one was supposed to know about it instead we just kept them careless like the novels which everyone could just pick and read without realizing the state of risk would come of it. Due to your lack of knowledge and indisciplined, someone would just copy them and still leave it with you and to yourself you feel safe with it that as long you could always find it to wherever you keeps it then the wallet would always be safe for you to be used. Oh damn lack of knowledge is indeed living a blackout.

You must have committed every possible mistakes with your old crypto wallet, it happens 99% of the time with newbies, I was a big airdrop hunter when I get into crypto, I don't have any money to invest in Bitcoin and crypto airdrop looked like the only way to start something, and believe me, I used my old wallet in everything I could find online, some websites that I am used to are no more working today, and I've claimed so many dollars from them, I don't even know what someone could do that can drain their wallet at the time.

So what could make me to go back and start using such crypto wallet again? Isn't that the most stupid thing to ever do to yourself? It's very likely that your funds will be moved out in a matter of days, because somehow you must have leaked your recovery seed without you even knowing it.

Definitely, using the old address that was used as a beginner and times when you had no much security knowledge and awareness of your coin is very important because the people that were guiding you those days might have your seed phrases thereby can access your wallet anytime they wish to, so changing one's wallet address at a time when you are fully aware of how everything works and the need for keeping your seed phrases secret and private is very vital.

From 2020 to 2023, you needed 3 years in cryptocurrency market to join Bitcointalk. It's a long time.

Revoke your smart contract approvals when you no longer to need them. A safest way is to use a new wallet as suggested but revoke smart contract access is not a bad practice.

How to Revoke Token Approval
https://etherscan.io/tokenapprovalchecker
https://revoke.cash/
https://app.unrekt.net/

Definitely, I remember I had some wallets I used for many airdrop chasing in 2020, created all with trust wallet, which most of the tokens didn't even make it to being listed on exchanges. funny though, I had them connected to particular platforms launching those airdrops, which gives them the power to manipulate your wallet at will. Knowing that some projects are scams targeted at harvesting the content of ignorant people's wallets at a later time, I simply ignored these wallets and went for a more decentralized Etherum wallet for my holdings.

As regards my seed phrases, I do not like much drama and I took my wallet security to my own next level. I run encryption of the seed phrases myself with a secret key known to only me, so the risks of having my seed phrases intercepted while being stored offline is what I don't ever wish to deal with, so what I now store offline is the encryption of my seed phrases and the secret key and the way it is written is another mystery which only me can unravel, so it is totally useless for the person that might even come across it. If for any reason I need to import it to any device, I write the little Api and run a server to decrypt it in a clean computer, decrypt it to a file, use it for the purpose, delete and reformat the computer.

OP is still a newbie and we shouldn't  expect something that much from him, he did try from his post and he only need some little corrections to understand better.

Sometimes, it is good for newbies to try and understand the things they intend to explain because this alone could cause contradiction and may trigger some kind of confusion to the readers and those that want to contribute. It is good for us to know what we are doing and not try to confuse other. Op need to understand more about wallet and how the cryptocurrency market do it things. This would help him in a long way because it will broaden his faculty to give a well detailed explanation without any problem.

You pointed out an important thing. I remember having a Bitcoin core wallet in my old device. I wasn't able to synchronize it back then due to low RAM and lags. So, I don't even remember if I created a wallet or not, I didn't know if I could import into another wallet or not. I remember using Trust wallet for a long time. I still have access to that wallet. But, I don't know where is my seed phrases are.

I didn't think about possible issues. What will happen if I lose my device somewhere. This is a good reminder for people who have been using their old wallet for a while but they don't remember the seed phrases anymore.

it all depends on the character of the person who teaches us Bitcoin. regarding wallets and also exchanges made.
It is indeed risky to continue using a wallet made by someone else when we learn to use a wallet for transactions. I also changed my wallet which my friend found out about. Even though there are still some assets that are not large, there are never any problems with the wallet.
The risk is still there, but what matters is the character of each person. if they are good, bad things will not happen even if there is a chance. but if a person's character is bad, no matter how small the assets are, they can quickly change hands.

No it's not free of charges unfortunately. BTC transaction fees are a real issue for this kind of things because you will need to spend much fees if you want to spread your funds on the same number of adresses without grouping them in order to take care of your privacy. That's certainly one of the reasons why people are still dealing with their old wallet. So maybe it's better to just spend funds from old wallets and start with fresh funds placed in a new one if you can afford it.

Seriously, I made a mistake that I notice most newbies make after joining cryptocurrency. When I created my wallet, I decided to store my private key online. I stored my private key on my gmail, and I decided to screenshot it after saving it on my gmail, and I saved the screenshot as an image on my phone, but I never knew the repercussions of sharing my private key online and on my phone. I thought it was just the most secure and easy way to access my private key. I was thinking if I can lose access to the one I stored on my phone, then I will be able to make use of the one online, but I didn’t know I was making a mistake. I later discovered that what I was doing was wrong, so I decided to delete it online, and I deleted the image I saved on my phone.
 
It’s better you just change your wallet if you know you have made some errors previously, because someone might already have access to your private key, and you won’t know. Maybe they are waiting for you to have enough money in your wallet first before they are going to attack you.

I have heard about issues like that before. The person who guided the guy when he was learning about bitcoin was the one who scammed him because he had his private key and other information’s about some exchanges when he was registering an account. The best thing is that you should make sure you change your password for all the exchanges that someone guided you to register on, and you should also change your non custodian wallet so that at least the person won’t have access to your new wallet. You should also make sure you empty the old one.

It's quite true, going back to your old wallets would be very risky, a lot of newbies didn't care shit about their private keys, i even stored mine on my WhatsApp 😄, what if someone has access to it then, we might have even mistakenly logged in on some online scam site or given access to the wrong people.

I think this should be added to one of the safety precautions to save your asset.


Yeah some of our old wallets might have already been compromised or hacked, who knows what Links we have clicked on in the past out of ignorance. Going back to old wallets can be very risky, unless you have some asset in it, but what you should do is to move out the asset to a new wallet and stop using old wallet.

I remember back then when myetherwallet was very popular which must of my wallet was all created through it and the private key printed and safe guided in a secured location, but there have been lot of now closed dex exchanges which I have connected those wallets to like, forkdelta, etherdelta and many others which I can’t remember many of those exchanges have been compromised which our wallet data might also be part of the stolen data.

I personally have abandoned those wallets as I can’t remember the last time I used it, unless I come across some airdrops which I want to try luck on then I can use the old wallet which I use for nothing to connect and risk it there.

Ignorance has allot to play especially as newbie but this advice is very deep as most our ideas speak my mind. See anything wallet is not what one need play with mostly when there is a money involved, private key,pass phrase password and all details need be personal security no interference of any second or third party, Saving it as software is even dangerous it's even more advisable to make use of hardware wallet than software, even leaving your money on exchange is very dangerous, I think allot has be given as opinion who ever that want learn should learn from others mistake because been a victim you may not leave to testify.

I still remember my first wallet was created on a custodial platform and I stored the credentials to access the wallet in the cloud which may now be exposed. Even though this is very basic, it is true, using a wallet that is no longer secure is a bad choice.

As long as creating a new wallet is free, and the longer we learn, the better we become at improvising security and privacy, it's a good idea to use the newest wallet. This is really related to the security of our data, so I also recommend not using old wallets. If there is a balance, moving to a new wall as soon as possible is the best option.

It is a good advice coming from you OP but not all old wallet you have can't be trusted because I have an old wallet myself but it is still to br trusted and wasn't compromised although your point is still good because some people didn't even know that their own old wallet is compromised or someone know the seed phrase of the wallet. If you think that the wallet is no longer safe then creating new wallet should be the first thing to do and transfer all the crypto from the old wallet.

IMHO, there is no problem if you use an old wallet with a new address. As long as you haven't used it publicly and you are the only one that knows it, that's totally fine and there's no issue at all. But if that's what making you confident and happy to not use an old wallet or address, you better make a new one for your own confidence. I think this is a reminder to the bounty hunters where they've been using addresses and they are being attacked by dust attacks to conceal their identity. It's a matter of privacy concerns that you have to check out upon using old wallets of yours. So, it's more likely that you're giving a reminder to the airdrop and bounty folks wherein they're required to do some test nets and transactions which makes them pay the fees and stuff. But if you use your wallets privately and you don't connect it to any random website or don't do transactions often, you have nothing to worry about.

Creating a new wallet should not be an issue since this could make them feel safe regarding on what those possible problems that might come to them. If they have balance left on their old wallet then they can simply transfer it and for sure it will not eat a lot of their time to do it.

Also if they are worried about possible upcoming airdrops and their wallet might be eligible on one of those then I guess much better for them to keep their old private key and just visit them when there's a airdrop rumored on the past platforms they are using to see if they are eligible for possible airdrops. Many suffer really from hacking from not doing anything on their old wallets and if they are just aware about the risk for sure they would never encounter any hacking issue.

You can set another password if you transfer your wallet to another device, private keys are the most essential you need to keep not the password, get into the trend if you know that old wallets doesnt support any kind of features for another layer of security there's nothing wrong if you will migrate your money to make it more secure, if you have a funds why not buy a hardware wallet these make you feel safe. Dont hesitate to invest in your security not only with the hardware but also to the device you are using with.

Actually, there is no need to wait long to change our cryptocurrency wallet. If we feel that our wallet is connected to an airdrop or something similar, we should create a new cryptocurrency wallet because this is to maintain the security of our assets in the wallet.

Especially if we have a lot of assets, it is best not to use this wallet for things that are not important, such as taking part in airdrops and bounties. Because both are very vulnerable to wallet hacking. So apart from not using your old wallet, it would be a good idea to separate your main wallet and a wallet for participating in airdrops and so on. Many people experience hacking because they think things like this are trivial.

Thanks for bringing this topic up, a lot of us have made mistakes when we were ignorant of the various scams and hacks in the crypto space, immediately a person that's into crypto gains knowledge, they must review everything that they've done before gaining knowledge to see if they've made any mistake that needs correction. Opening a new crypto wallet seems easy to us now, but the truth is that most of us were guided by others to open our first wallets, and you never can tell if the person has copied our seed phrase and can use it to import the wallet to be monitoring transactions inside it, if a substantial amount of coins enters it, they can easily move the coins to another wallet.

What you are saying is actually truth because many people whom attempt on doing that, they end up sending coin to a wallet that the either the seed phrase has been misplaced. And another person might be in possession of your seed phrase and whenever coin comes to it, the third party know about it and probably might swindle the money due to ones ignorant and carelessness. And I believe this is the main reason many people always complain about hacked wallet or stolen coin in wallet. All is just as a matter of misplacement of pass phrase

This is a piece of good advice given by the OP. Some keep old wallets that they created many years ago since they recently joined the crypto arena and got involved in participating in airdrops, bounties, and the like without securing themselves with the proper safety and protection procedures in place due to the lack of sufficient experience that they had when they were a beginner. They might be using these old wallets now and discover a sweeper bot or a malicious DApp connected to their wallets or that their seed phrases and security information are already exposed, leading to the draining and theft of their deposited assets.

Creating a new wallet only takes a few minutes for anyone, so there is no reason to use old wallets if they do not contain any valuable assets and if the person is not sure about the security of the old wallets in which he will deposit his capital into, there is no need for him to use them instead of losing everything in the blink of an eye.

And the ignorance attitude towards this article is mostly exercise by the newbies. This is one of the reasons for the thread which is basically pointing at either beginners and help who had done mistakes in an onset that hasn't been able to realize their ignorantic misconducts.

What we don't know is always bigger than us just as said that a questionaire is not no offensed for asking whom can probably misguided due to lack of knowledge so, intentionally, you can ask someone to create wallet for you due to the fact that it was the person that introduced you into the platform and sincerely, it should be assumed that you are not knowledge in the platform at that period of time.


You are absolutely right @Despairo but the fact is that you can't get hold to gain full access and privacy to your wallet just because you have your password and loose guards on your private seed phrases. Remember we are discussing about beginners and help here who are just comfortable about their wallets with the fact that they have their passwords with them but feels less concerned about their private seed phrases which one can retrieve or gain access to their wallets just with the entrance of their privet seed phrases. That is my point here. Just tips of advice to whom it may concern.


Privacy and security is undermined here. You can have access to your wallet and yet a third party could still have access to it without your knowledge. I strickly tried to explain it this way that if you don't trust your wallet during your begining, you can always create yourself a new one. As previously explained, someone who introduced you Into the system could create a wallet for you at a learning or beginners stage and at your experiences gain to Invest into the platform, due to doubts of your wallets privacies, you can always create a new one after your knowledges in rh industry.
Literarily, this thread is basically for the users with the potentials of being unknowledge able about the risks of their wallets formally untrustful wallets either by security or privacy doubts.

Hmm Yup, Bro you are on the right track...

Its never preferred to use custodial wallets, even though those are also Hot wallets but still, we need to realize that non-custodial wallets are way more secure compared to those ones, not every noncustodial wallet is reliable we need to find out by ourselves. I know the current topic is not about custodial vs noncustodial.

Still as always endorse the point "Not your key, not your coins" This should be mentioned and clarified everywhere, the pre-wallet login pin is a good feature but its not as reliable as if you are using most third-party apps and your wallet on same time and relying on the PIN, because its not cold storage or 2FA.

I love the idea of making things so private, I had a bad experience some time ago when I change a login details an account that was created for me back then and the mentor wasn't happy with me for changing my password so I then voluntarily gave him the pass code there after I have a little funds in my wallet, out of ignorance he moved the coin to his own private wallet and I was left without profit after putting in some energy to work.

Now here is the fact, when making a choice of wallet you should choose open source wallets[1]  whether mobile or desktop version of the wallet and hardware wallets/cold storage wallet should be considered all the time. at this point we should always remember the phrase that says "not your keys, not your coin"[2] security and privacy should be a paramount priority of a coiner.

Some days ago, I shared the idea of teaching wallet security and privacy issues in Bitcoin investment with JayJuanGee, he agreed to put in sure idea in his work of knowledge in the forum. I do care about security because a little mistake can flush out all you investment.

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[1] https://alternativeto.net/category/cryptocurrencies/cryptocurrency-wallet/?license=opensource
[2] https://www.ledger.com/academy/not-your-keys-not-your-coins-why-it-matters

About such a situation I have also come to know where a friend of mine after creating a wallet and forgets to save it out of laziness or any others reasons and subsequently deposits there and he also lost his account accidentally. He opened the wallet to join an Airdrop. If he had a good idea about crypto then he would have tried to save it with utmost importance. There are certainly risks involved in using a cryptocurrency wallet without knowledge. Especially in security matters. It is necessary to know whether he has collected the seed phrase of his account or whether he is aware of the aspects of his weakness or not. One must know how important a cryptocurrency wallet's seed phrase.

this is good advice considering that we don't know how we treated our private keys in the past when we didn't understand the security of the bitcoin wallet, maybe our private keys were already in the hands of someone else or other possibilities which made our old wallet no longer safe. and because of this, when we know about the security of bitcoin wallets, we must be able to create a new wallet to be able to secure our assets from unwanted parties.

Sorry you had to lose your money to these hacks, but at least you learnt an invlauable lesson not to keep your seed phrase online, and that includes your email account, once your email account is hacked, your money in your wallet would be stolen. You should only make offline backups.
Doing this does not increase your security, i think you should move your money to a new wallet if think you have made a mistake that can possibly lead to your wallet being compromised, other than that, if you are using your wallet safely, there is no need to change it regularly.

Thanks Op for the heads up.

Anyways  I was not saying that I fully trust the LINUX Os, but my point is it is a better option than windows. Like for example if I was to setup an air gapped wallet I would definitely not make use of windows.

No wallet or OS is totally safe but the point is there are always better alternatives and options. If you come to think of it cold wallets are safe from the internet but are not totally safe from burglary and other physical thefts.

It's great to see people caring about the safety of their money and keeping their keys secure. Many crypto investors suffer consequences due to ignorance. Knowing how to protect your funds is crucial for any crypto investor. I've heard of investors losing their money for similar reasons you mentioned.

Recently, a friend lost $500 worth of altcoins because he forgot his old wallet's password. I advised him to import the wallet again, but he couldn't find the seed phrase.he was frustrated, but once you lose access to your keys, your funds are gone. He felt sad and blamed himself for not understanding crypto wallets earlier.

Let's all be smart about safety of our funds. Avoid buying wallets or having someone else open one for you. It's easy to learn how to manage them if you focus and put in the effort.

this has happen to me too , i was using blockchain wallet more than years never had any issue till one day someone withdraw all my money
I get rid of it  long time ago

This is the best advice I've read today, you are indeed very correct, I have used my old crypto wallets to do tons of stupid things and that's because I can remember this, I have claimed to many airdrops with the wallet, sign everything I saw online, no single free tokens escaped from me, I was 100% active and ready to earn free money at the time.

Imagine someone who did this, as a beginner, what do you expect? I was having a very good time learning about crypto, today I announced that such wallet can't be safe, because I believe so, I was just too carefree back in 2017, I am sure that the wallet address is already poisoned.

That's it, today I will like to advice any newbie to get a airgapped devices instead, but they should first take their time to learn how to safe guard their crypto wallet, even if its a hardware wallet you can do so many stupid things and still lost your assets.

If your private keys or seed phrase exposed to others then there is no chance for any balance left in that wallet so it doesn't necessarily mean your old wallet is compromised because you created with little knowledge. But I get your point, if you had better understanding about wallet security and where you need to store the funds that is intended for long term holding then definitely cold storage option is recommended.

Do you know that the advantage of Linux went down to the drain after it was discovered that almost all distros with Secure Boot support contain a vulnerability that allows remote code execution.

Therefore, I am convinced that singing the praises of any operating system is a lost cause. As we  say here, “for every bolt there is a nut.”

Wallet must rely on air-gapped machine rather than OS.

You meant that "Don't reuse wallets that were used long time ago when you are a newbie and have no or little knowledge about cryptocurrency and security".  Reuse, let's emphasize it.

I agree as it does not cost extra fee to create wallets. Hence if it is better and safer for your fund, it's a good practice to create a new wallet when you already have better knowledge about wallet, security and have new clean devices.

Remember that don't delete your old wallets as satoshi's advice "Don't delete your wallets".

It all start from here, what you should do and not.

1. Don't make use of a custodial wallet.
2. Don't make your private keys vulnerable to anyone
3. Learn to maintain and practice security and privacy
4. Don't use any old or existing wallet you don't know if it has been compromised or not
5. Make sure that you also cross check, validate and be rest assured of the steps you're taking in using a particular wallet, don't share devices with other people and don't allow them to help you set up your wallet, even when you're once a newbie, discard the old one set up by other people for you and create your own by yourself.

I agree with OP advice, There is high chance of losing assets from old wallets we created in time when we had not enough security knowledge to secure our wallet. We might tried our wallet phrase in scam sites or PC attacked vy malware. we should create new one and follow all security steps to secure our fund.

Well honestly all my wallets(more than six) has been hacked as i saved phrase in Gmail where hackers got access. Now from 2021 I started new journey of crypto and my wallet are secure till now.  Wallet security should be our first priority before holding btc or any altcoins.

You're not wrong. During my rookie days I made same mistake. I had the private keys of my first wallet stored on my phone which I've long abandoned because of the security risk. Your advice is good but for those persons who have misplaced their privates or seed phrase but still have access to their funds, aside having someone else steal their funds through the misplaced seed phrase. If they lose their device, they'd automatically lose their fund since they don't have the seed phrase. So it's important they generate a new seed phrase, back it up, and send their funds to the newly created wallet.

Good advice 👍.

Two of my old generated crypto wallets from 2018 have been compromised, I don't believe that I leaked the keys but I must have been careless with the keys without even knowing it, today I have learnt more effective ways to keep recovery seed safer than the old days, so you have a point OP, it's better to avoid the old crypto wallet from the time you don't have a lot of experience about crypto.

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I will like to correct you that there is nothing like crypto wallet passwords, those passwords are for in phone security, but if your recovery seed get leaked your password becomes useless, what matters the most is your recovery seed and private key, they are the real keys to your digital assets.

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Mind you, some people still use crypto wallets from 2016 and they are holding good amount of BTC in the wallets, they understood the security procedures and they stand by it, I called them smart beginners, but no one knows me better than myself, I was a slack person when I was new to crypto, it makes no sense for someone like me to use an old crypto wallet.

When new entrants to cryptocurrencies have very limited knowledge about cryptocurrencies, the wallet used is not properly stored or even if stored, the private contents of that wallet are unknowingly shared with others. Moreover, the initial condition is to connect the wallet by entering phishing links provided by various sources, which are likely to be hacked. i am As far as I know, if you connect the wallet to various phishing sites and AirDobs, that wallet goes under the hands of hackers and they can easily access those wallets. That's why it's best not to use a wallet that is currently in use when knowledge of cryptocurrencies is very limited.

People really need to know that the first wallet they use is so risky since there's a chance that someone has an access on it especially when the time we don't know how to use it. For sure there's a lot of programs we participate and we are not sure by that time if we do the right thing. That's why much advisable to anyone to create a new wallet when they gain knowledge about crypto since for that they can assure that there new wallet is safe.

They should not look back at their old wallet since there's nothing to waste their if they don't have any balance left.

To many newbies fall from this since they think their old wallet used is safe and they've been hacked by those people waiting for them to deposit some balance so to avoid this to happen delete all old used  wallet and try to get new one so we are confident that we are away from hackings or other methods that can affect us.

I remembered myself. Coming to the forum in the bounty era and being intoxicated by the news background from all YouTube and Internet sites about the profitability of these companies, the first thing I did was create a wallet.
I didn't know anything, but I created a wallet, expecting that the time of my wealth would come. Afterward, I laughed at my thoughts for a long time.
You are right, OP, that you shouldn't trust what was created while you were growing up. There will definitely be mistakes. And I think perfection is common to all people. We want the best; we buy better gadgets, handle them better, understand how important it is to keep devices clean, and naturally, we must be more careful with those things on which our financial life depends. In this case, the accuracy and safety of wallets.
Start to understand that when you better understand a particular area, everything that came before can be called a draft. And they are usually destroyed.

I believe anyone that has spent up to a month active in this forum will know that it is a normal say that your seed phrase should be backed up and kept safe in three different locations very far from each other. Anyone who is using a wallet that he does not know where the seed phrase is, I think that person is gambling with his coins, because password is useless when it comes to wallet. This is because you can create wallet and use a different password and import your seed phrase incase you don't have access to your phone or you forgot your password.

One thing I practice most times for security is that, I try as possible not to use the same wallet for a long time, because creating a new online wallet is easy. The safety of your bitcoin is in your hands and be safety cautious. The good thing is that I started my crypto journey from this forum, and it has helped me a lot.

Using a receipt address from centralized exchange when you didn't login into the exchange, that's called ignorance because any exchange can update the customers' receipt address without notify.

Asking someone else to create a wallet for you, that's called stupid.

Wrong, as long as you have the private key, you can access to your wallet even though you lose your password and 2FA.

Incorrect, what you talk is about security, not privacy.

This is one of the best advices I've seen today. During my newbie journey before I joined this forum I knew little about how privacy works and how to even manage it. However as I spent more time I began to get the bigger picture.
Using old wallets you used when you were less aware of your privacy for storing your Bitcoin hodlings is a very wrong move. because unknowingly to you, you may have been exposed to some phishing attempts in the past or already have your computer being monitored by some hacker via a malware without your knowledge.

Now when I got to understand these things I knew the best idea was to start afresh. I did this by formatting my computers removing the pre installed windows and installing a more open source software (LINUX). Doing all these helped keep me safe from hacks and phishing malwares.

As for this, the ultimate ownership of a wallet is in the seed phrase and master private key. Passwords are only used in wallets like Electrum to encrypt the file hodling the seed phrase and private keys.

I get your point OP and it's a good one
However, you're mixing things up settings up a password is  general for wallets but using a password for wallet recovery  after a long period of time probably on a new device  or reinstall of wallet software is only limited to Exchange wallets as youonly need your sign in id and your registration password to get things running again.
Non custodial wallets only use secret seeds for retrievals but you can setup a login password to always enter your account each time you feel like accessing it to prevent  someone from accessing your wallet through your phone without  permission.

To the rest of us in the forum, I am to let you know that if you have created a crytop wallets before probably during your ignorant eras such as when you never had the security knowledges of Bitcoin and your wallet, which you may have in anyway exposed your private and security phrases to others due to your previous lack of crypto and wallets understanding, you are advised to dump the wallet and creat a new wallet with a newly generated private and security phrases which you can now keep carefully and privately to your best of safe mode.
I brought this up here because lot of individuals has long time ago installed the crytop wallets to their devices even before they are embracing the crypto sphere, they had then loose guarded their private phrases but due to the fact they could remember the wallets passwords and have access to the wallet, they feels so safe in using the same wallet at once they have embraced the crypto industry.
Having your wallets passwords in gaining access to your wallet is the ultimate of ownership of your wallet but your Private keys phrases matters because you one can who is knowledgeable about those private phrases has the access command to retrieve your wallet to themselves anytime any day.
So, be concious about your wallets privacies.
Meanwhile some persons may have been putting you through the thoughts about Bitcoin whom may have helped you in creating a crytop wallets during a learning era about the coins which probably they may have got access to your private phrases without your knowledge then. My advice at a case like this is that at your readiness of Investing your funds in the crytop, do not use the wallet, you are free of charge to create a new wallet with a generated private phrase keys which can personally be to yourself all alone but depending on how careful you could be about your privacies.