Topic: Preventive measures not to lose your btc (Read 852 times)

There are many things we need to be watchful about because many scammers are bringing new trick different from the known ones so they can steal funds from their victims. It is good we follow the preventative measure to help us to stay safe so we don't lose our Bitcoin or mistakenly send it to scammers. We need to be wise and take decisions that would help us and encourage us to keep to be wise and always watchful anytime we want to access our wallet. Many people have lost their Bitcoin because they are so careless importing their seed phrase anyhow. Even the WiFi we are using should be scanned before we start using them to prevent hackers from accessing our portfolio.

I have to agree with this. Memorizing your seed phrase or listing it in one page on your favorite book might lead to putting your coins at risk. Because once bad thing will happen to you and you end up forgetting everything, that will create a huge problem on your investment. Aside from you can’t remember what you have memorized, you are also unaware already where you hid your seed phrase that make it expose to others in the future without you knowing. Thus, leaving your coins at the danger of losing all because of your carelessness and cautiousless.

What you must understand about crypto currency and its users is that whenever you are devoted to invest in cryptocurrency that very day you should also signed the risk associated with it because many people only accepted the profits aspect of it and neglect the risky aspect, which is the most important thing to do, at first before delving dipper they should also try to explore the best way to safeguard their investment otherwise it could be hijacked by some unscrupulous element who just sit out there to plan how to steal your hand earned money due to their ignorant of applying security.

We should be careful with crypto activities we anticipated. Scammers are everywhere and they're not sleeping, always busy finding techniques to used inother to lure traders that will later on become their prey. Cryptocurrency is risky, but people simply overlooks the facts that states about trading and investing with good strategy, that's the only way to stay up and running in the space. Social media will make one become expose to the space and also will cause  negative effects on one.

Safe self-custody isn't rocket science, but requires some knowledge and good practices. The probably safest way is offline cold storage or a decent hardware wallet and both need to be used properly to be safe. If you plan to hold Bitcoins safely don't really think it could be any safe in an online hot software wallet on your daily internet device(s).

I wouldn't recomment holding more than pocket money in a mobile phone wallet. You usually do too much online shit with your mobile phone, install too much crap on it and so on and so forth. You've been warned...

Coins in echange wallets are not your coins (yet). You only have a promise from the exchange to possibly withdraw the amount the exchange holds for you in their wallet. You know the drill: not your keys, not your coins!

Do not store your wallet's backup recovery words on any online devices, do not take digital pictures of your written recovery words as those pictures may leak into cloud storage where unknown algorithms analyse and index pictures and documents.

One of the most interesting and possibly an ignored point is point number eight(. This is because, it feels like a safe thing to do but really, there are underlying dangers to it. Like, having to memorize your seed phrase or have it put in some kind of verse for a song. Now the thing is, these are not very frequently used phrases and you could only need this once in a long time, possibly due to change of device and that’s mainly it as, other uses could require a complete change of wallet and seed phrase as, importation of wallet doesn’t solve the issue of compromised seed phrases.
Therefore, in an event of forgetfulness and by some mechanical means, you have your device restore factory set before you get the chance to transfer your coin, it’s all lost.

As per cameras, it’s another means to compromise. These cameras are there for a purpose and somehow, it could lead to someone prying on your privacy just to see what you do or try to keep to yourself and that way, you would be compromised even without you knowing. Your seating angle as well can aid this.

Aren't this anti virus another form of spy on our devices? Some of these anti virus are developed by unscrupulous individuals who aim to spy and steal your information with little or no effect of protecting your device from virus as they claimed. This is why they request access to your phone media and storage and once you grant them that permission, they can modify, delete and copy your files even without your consent as long as you grant them access permission. The internet security depend on how you set up your browser. There are certain words, phrase and sites that I deliberately flagged on my device so whenever I attempt to visit any site which such contents, the system will notify me and ask if I still want to continue to visit the site.

In this era of technological advancement, there is no absolute way to be safe and secured online. We just have to be careful and not falling for cheap methods. By the way, what do you mean by seed phrase should be installed in that device? because I don't think it's a nice idea to install your seed phrase in any device whether online or offline, personal or general devices. Your seed phrase should be completely off device.

Hey for malware and phishing site you have to install and strong internet security and anti-virus, I also have internet security installed in my system currently and any site I am visiting that is not secure for me my system would alert me to be very conscious of the site. With this, most time I will exit the site, and there are some links they post here you don't have click them directly otherwise you could hack or have remote control over your device so, as bitcoin investor or trader you should only dedicate one just particular system or smartphone for your holding or trading with this you could be save. Your seedphrase should also be installed in that device, like a kind of restricted device that is meant for only trade or holdings.

"Browsing safely" might be hard to achieve, there is no way to determine if they is a malware in the site you are about to visit or if the application you want to download is a phishing one, thus rather than trying to browse safely, move your money to an offline wallet, just buy a hardware wallet and move all your money there.

"Use a strong password" and "don't forget your password" isn't bad advice, but it is your seed phrase that is most important, if you forget your password, you can easily get your wallet back with your seed phrase, but if you lose your seed phrase, you lose your money.

Since we can't be certain that all strangers are scammers although that's the first category you will have to place a stranger online until proven otherwise,  but for the part of not giving a hearing at all is kind of mean in my own disposition I will position myself in the asking of questions and must be critical questions instead of leaving the stranger to be doing the asking. And only when you are not comfortable with the replies you're receiving which by common sense you're supposed to know when to exit from a shitty talk.

when you listen to the stories of those persons that have fallen to online scam, many persons the stories aligns with greed. They became shortsighted from seeing where all was heading to because all their focus was on how they can make the profit from what was offered to them. If was can deal with our greed we have for sure solve 75% of our problems online that could lead to us losing money.

Social media may have a lot of scammers in it but that doesn't take away the level of good information that follows in and out of the places you mentioned, not just twitter and telegram I think Facebook is another place where people easily get scammed too because of the links they are directed to join but anyone who's is mostly interested in cheap and quick money giving things are the ones that are easily scammed by scammers so i think people won't stop scamming until people are tired of going for cheap things.

The problem isn't usually with sharing but with what you shared, some of the stories we share could be inspiration to others in their Bitcoin journey but the problem with this sometimes is letting them know the amount and the size of your portfolio, telling a story without figures could still do the same thing you have wanted to story to do when shared with figures, sometimes to show evidence so it doesn't look like you are manipulating things, you may want to show screenshots which is fyn but in this always make sure to cover vital information on the screenshot which shouldn't be accessible to the public.

Keeping limits to how much you share will go a long way because at times sharing actually brings investors and the kind of audience you desire to you but it still doesn't mean you wouldn't be mindful about what you share and to the kind of audience you make this information available to.

It is better we avoid anyone offering us money or an opportunity to earn money over the internet. But the newbies in the cryptocurrency industry will never know this. You will be surprised how newbies believe people over the internet that they would change their lives. If such investment opportunity is genuine the stranger would have first of all enriched his or her own family before remembering a random person in the internet. Although some of these scammers are smart, they do not immediately begin to scam someone or to make scam attempt immediately they start communicating with the personal social media. Sometimes they take weeks and months in order to build trust and some kind of fake relationship between them and their suspected victim. But when they have the opportunity they will strike and defraud their victims. The more newbies understand that there is no free money anywhere the better for them to escape scam.

I see a tendency when someone gets an achievement in Bitcoin and crypto, they share it on social media or with people they hang out with.
This is indeed risky when someone finds out about our Bitcoin ownership, especially as it increases our security risks. We can become targets of crime if we are too open on social media or to other people about our Bitcoin ownership.
We just need to be quiet and don't share anything on social media. it's for everyone's safety.

   Always make sure that your software is up to date and don't allow your computer to always fail,backup your entire wallet , don't forget your password , secure your Bitcoin wallet with a strong password you should be careful with online services , browse safely,only keep the amount you are willing to forfeit ,talk less about your achievement in Bitcoin.

Whenever you encounter such conversation with a stranger in the internet, ensure you don't give out your real information because that is where scammers use to find out the type of person they are dealing with and they can do anything to hack your Bitcoin in your wallet.  Some newbies always fell victim to scammers easily, because they believe so much on their fake promises they made which are not truth and it can lead anyone that will obey such words to lose all his coins because their sweet words are to deceive investors, and to have access to their wallets. You have the full right on your telegram to choose who will be your friends and who not to be your friends, and the moment you discover that the person on your telegram is acting like a scammer, you have the right to block such person or block the group chat to avoid scam.

It is harder to remember your wallet's seed phrase or private key than remember your mobile phone number.

Happiest person only if you don't forget it and lose your wallet and bitcoins.

Your memory can be lost, your brain can be damaged by physical attacks, accidents, health problems and this method is very risky one.

How to back up a seed phrase?

Your password is a second layer to block access to your wallet. If you forget your seed phrase, are you sure you will remember your wallet password?

When something happens with your brain, memory, you can forget all of them, wallet seed phrase, private key, wallet password.

It's wise to keep a separate device for crypto, like a dedicated laptop, to protect your wallet from exposure. While it might cost more, it's a smart way to safeguard your Bitcoin. We've heard horror stories of hacked PCs with significant Bitcoin holdings. Be cautious of untrusted links, consider investing in a hardware wallet, and always back up and prioritize security in the crypto world.

   Always make sure that your software is up to date and don't allow your computer to always fail,backup your entire wallet , don't forget your password , secure your Bitcoin wallet with a strong password you should be careful with online services , browse safely,only keep the amount you are willing to forfeit ,talk less about your achievement in Bitcoin.

Op if I can memorize my seed phrase or the private key and know it the way I know my mobile phone digits then I would be the happiest person on earth because at that I don't need to save my phrase in different places again but probably in one of particular place because even at that I might forget some characters. If not, I know my phrase i know my password for off... Then that should be a plus to me for the safety and security of the wallet.
Op aal what you said is correct and it is good to take those steps to protect your wallet as early as possible. And these preventions are not only in cryptocurrency but also to the fiat currency banking system too. Many people know all these things but they neglect them and when they are scammed before they would onow that such things existed for to them used as earlier o prevent the wallet. You try for the update.

That's right but not using cryptos and using fiat instead won't prevent people against this kind of scam. Once the romantic scammer get the money from the transfer you've made to him through paypal, a bank transfer or an international money transfer service such as Western Union, MoneyGram or TransferWise for example, he will withdraw it as quickly as he can and you won't be able to get back your funds exactly in the same way as if you had used cryptocurrencies for that instead.

You're entirely correct that victims of these scams may suffer greatly. The reason it's commonly referred to as a "romance scam" is that the con artist usually pretends to be in a romantic connection with the victim for several months or even years before requesting money. They might even pose as someone else totally or use a fictitious profile photo. It's a terrible scenario, and because the con artists are frequently very skilled at what they do, it may be very challenging to identify these scams.

I agree that social media is the most crowded place where scammers use it to scam people off of their money but most of us know that it's not just social media that is being used to scam people but also a communication tool for sending messages like google mail, yahoo and other platforms like this. We can still use social media as we want to but it's better if we avoid someone offering a chance to earn profit or something like that.

Actually you know newbies are always carried away by hypes and offers of huge bonuses without knowing that those are the strategies for scammers because without them listing those offers they know that people won't be interested snd just as you have stated, most newbies believes in get rich quick like as soon as they see an altcoin that's pumping heavily, they would assume that it would continue pumping without knowing that if scammers doesn't use such strategies then they can't convince the newbies so it would be good to stay away from any get rich quick adverts or schemes.

Social media is the most crowded place in the internet. Scammers target where they will get so many victims on a single launch and social media is the best place to achieve this.
Secondly, no matter how often people are scammed on social media, many people will keep trooping in and get scammed. Apart from twitter, telegram is another place of scam and scams. I deactivated my telegram for a reason and I don't know when last I used my twitter account. Those place that doesn't add to my finance but rather take away my time and resources, I tend to avoid them. But then social media is just unavailable.

Evwrythi6yiu have listed here is accurate for us to safe our wallet from hackers or scammers.
The newbie's need to keep reading this post everytim6theu come across it because has good information to protect anyone that do not have good understanding about stay safe as crypto investor. Keeping our seed phrase safe is one of the problems many newbies are facin6and they might not know how to ask the question. It is always advised not to keep our seed phrase electronically because it could be easily accessible if it is hacked or compromised.

It's quite nice the love you guys are giving to us newbies teaching us how to protect our holdings from scammers, but I'll like to emphasis on our greed cause I know this is one of the major reasons people fall for scams just like you said, we newbies need to understand that most offer that seem to outrageous like offering 200% return of investment under 3 days or even a week is impossible, scammers often try to take advantage of our greed and try to manipulate us into believing in their schemes with fake testimonials that they generate themselves. Self control is the only way for us to safe ourselves and we should stop putting our hopes in ponzi scheme to get us rich.

This is nice preventive measures and I will also like to add some security to it if the person is using Electrum,  he or she can use Authentication Key or in a simple way the person can create security pin in the Electrum by clicking on the green button by the left side and click on preferences then click pin protection payments and with that whenever you want to transfer bitcoin from the wallet, you have to put the six digit pin and that pin must be a secret pin. So even you lost your seed phrase and someone wants to used the lost key to transfer your coins, it wouldn't because of the pin. So using the pin to secure or prevent your coins is also good.

You forgot to add a point about phishing links which is one of the most common ways scammers use to steal funds from people by stealing their account credentials first and then using those to log into the platforms the victim uses and steal whatever they have in it. People often make such mistakes, newbies do it more often than experienced users because they lack knowledge about these things which is why they easily believe in what the scammers tell them.

Scammers often use some sort of luring technique like a bonus or something about the platform the victim is using so that the victim thinks that it's legit and they might get some bonus if they click on the link and log in using their credentials unaware of the fact that their credentials are being stolen.

You made a very big point here because I nearly became a victim to scammers, of receiving shiltcoin in replacement for  my valuable altcoin. Many helpful preventive measure have been listed out in comment section here  I appreciate,  would not border to repeat, but what I want to add mostly for newbie is to avoid quick rich when ever it involves the Bitcoin and crypto related because it has turn a big strategy for scammers, buying shiltcoin during presale and airdrop that offer bonuses.

You did well OP, your findings Possibilities on how hackers could invades once privacies is one of the common errors most investors makes but wouldn't admit to it because of their ignorants.
In addition, lost of funds preventive means could also be ascertained by thorough researches towards the kind of wallets you uses. There could be related wallet apps in the system wherein you fails to detect which one is the legit one.
Being Concious in logging in your wallet account with different devices is also a good one because some persons are careless and inpatient in requesting a third party for their device to login their wallet account at when they can get reached to their phones.
Nomatter how urgent or emergency such situations would might bring you, just be careful because some devices retains informationd such as passwords even after you logged out so, don't feel so protected and easily trusted a closed one at when dealing about your coins.

You've said it all, every possible things I have in mind to share, but I think it's unavoidable because every newbies have no experience as a beginner until they are thought the hard ways, by making mistakes, unless the newbies decide to say yes no research before anything else or they say no to crypto.

Some people are still scared about crypto, not because of the rumours about been Ponzi but because of the many ways that they can lose their BTC and other digital currencies, they see the whole thing as too strong stressful and not worth it, honestly the biggest issue in crypto space is still safety of crypto wallet by the users.

But as time goes on maybe the perfection will be done about crypto wallets, even the former CEO of Binance said this same thing, the possible loss of assets is a big concern.

I do really agree with you best of all never spent your bitcoins as Satoshi Nakamoto will punish you for spending them  lol

It's a quick one,ill clearly say I learnt vigorously in this thread.

No.6 really got me shocked you know,have been a victim of using same password for different sites but I never knew it may result in something devastating later on.
But getting to know this now,I'll surely make amends inorder not to fall victim to scammers.

Over the time I have seen established and experienced members in cryptocurrency business advising the newbies on how to avoid scam. But in the end the number of newbies falling for scam keeps increasing as if they are deaf to advices. What happen is that the newbies think that the established members are preventing them from making money. In the end they get scammed and definitely learn from their mistakes. That is why if I advice and they don't take, I'll simply wait till they fall victim and learn from their mistake.


Many people do not actually know that this is scam. I have seen people create scam coins, make money from it and in the end they get glorified by the society that they are into bitcoin. While in the real sense they are scammers.

No. Don't even engage in conversation with strangers if it's not about business specifically on Telegram which is the paradise of online scammers.

Yes, and this scam strategy comes in two ways we have the ROI, and we have the pyramid Ponzi scheme. They are all old scamming strategy and this is why I never have good feelings towards some memecoin.

The best thing is to know how the scammer works because they always find a way to bypass that unless you don't join some crypto telegram discussion group.

These should be enough for newbies because there are a lots of threads that is guiding newbies like this always, and yet, such scams are still happening; but given us such threads as reminder is very important to keep us active and know that these scams exists.

Newbies that are lazy to learn and take necessary precautions to avoid been scammed should stick to holding bitcoin in an open source non custodial wallets, they should learn how to maintain and keep their seed phrases and private keys safe.

Nice one op. I just want to add that with the way things are going right now and in other to completely avoid the chances of getting scammed through phishing links. It's better to get an airgapped device and store your funds offline because scammers are really stepping up the games. They're now embedding malwares on ads shorteners, Google ads, and other places you may least expect. So having a large amount of your funds on a device that's connected to the Internet is not good.

One aspect many of you are ignoring is investing in shitcoins, coins that promises unrealistic return on investment... this is similar to ponzi schemes because they always end up as scam. The founders will collect your precious Bitcoin and hand over to you a bag of shitcoins that if not sold immediately you see in the market, they will turn to worthless bag of shit. I think this should be the most convincing and diplomatic way of losing ones BTC.  They leverage on the greed in humans to get their victims. It is important to note that BTC is enough for anyone looking for a genuine investment that will give good profits.

When someone tells you that you can invest money in a project and within a very short period of time, like a few days, you'll get many times over your ROI, know then that it's a shining red flag and a sign for you to flee, so you must avoid it by all means. Common sense tells me that if an investment like that is possible, it'll be kept a secret as long as the profit keeps pouring in, because they'll keep reinvesting their money without anybody knowing, although the problem is that people that you trust can ignorantly sale the idea of investing in a scam investment, because they're told that it's legit. So the answer for me is to make research and have adequate knowledge of any investment before putting money into it, this includes buying Bitcoin and knowing how to secure your wallet.

You can be extra careful and wrongly be a victim of what you don't know. I have seen and read threads here how wallet were been swept of all the Bitcoin they have in their wallet and not because they didn't follow all these information, they were downloading a file they think they need but on the process, the software application has an embedded malware that you don't see with a naked eye, even during installation you don't see it, when using it you don't see it but it's there in your computer. Sometimes, even your anti-virus don't detect this things because the hackers are smart to drive tested this malware with different anti-virus so people don't get notifications when they signal any malware.

With all what OP has discuss, even if you are been careful, you need hardware wallet as possible so you don't get any access to the internet. As long as your Bitcoin wallet don't hit the internet, the possibility of hack attempt will be very low, you don't need to worry about malware, you don't need to worry about Ads vulnerability, you don't need to worry about seed phrase attempt because you are not connected to the internet. The only thing you need to worry is the wallet and seed outside the internet which shouldn't be a problem if you handle it with care.

One of the things that i have discovered os that, scammers will only use the information you allow them to, so concealing your vital information is what makes the difference in the whole hack/scam incidences.
At some level, scammers are the most gullible and the only victims are ate greedy will always fail victim to, sometimes, if you look closely you can easily detect their schemes and easily avoid them as soon as you discover them.
So for that, I agree with almost all the points that you outline in this write-up, most importantly the part where you said, you should not entertain strangers so much most especially those that make offers.

Unfortunately many people don't care with your advices because you can see there are a lot users still participating in Bounties. Here, people don't care about privacy, security, moral etc, as long as they get worthless shitcoins, they're fine to submit their ID card, cheating or doing anything in order to get a lot shitcoins. While people in this section I believe they're aware with that.

This should be printed in gold. Social media ads have led a lot of people to their greatest loses in life. May people believe things they see on especially Facebook and these  scammers have a unique line of conviction that if they were scam, Facebook would've stopped them from advertising and  banned their account.

People should be aware that most ads and promotions on Facebook aren't scrutinized by Facebook team itself, Facebook is there to make money and those ads gives them the funds, so you believe their lies at your own peril.

Their best tactics is to redirect you to their WhatsApp  channels, or their telegram accounts were they've the freedom to convince unsuspecting individuals by  giving them impossible offers to activate the greed in them and make them vulnerable.

Its important we research properly the possibility of any offer being valid before we jump right into it. Do not neglect any loop holes you discover or any red flags you detect, as soon as an offer looks too good, or the discussion isn't adding up. its a scam and you need to be on your heels.

I would like to add, don't download random software or games from sketchy websites.  Who knows what nasties could be hiding in those free or cracked apps.  Better to stick with legit app stores where at least there's some screening. 

Next, be sure to regularly update your device software and apps and  developers constantly release patches to squash bugs and plug security holes as theyre discovered.  Updates are usually annoying, but putting them off leaves you vulnerable so grit your teeth and just do it.

Also secure your home Wi-Fi with a strpng password - no birthday or anniversary dates! If you really want to lock it down set up encryption like WPA3.  And for public Wi-Fi, just assume it's crawling with hackers sniffing for passwords and private details.   

Finally, put some guard dogs on your devices.  Antivirus and anti-malware software can catch infections before they take hold, so they're worth investing in.  Most gadgets nowadays have decent built-in protections but an extra security blanket never hurts.

Popularly known as the scammers zone, it's very likely that one third of the people using telegram are mainly for scamming purpose and that's why so many people term it so and even shy away from its use especially when you join these so called crypto groups that actually gives you update on things or coins that are certain for profits come this bull season which to some extent are mostly false .

A friend of mine is a victim of this. I have talked to him about it but he doesn't want to learn. But recently I took my time to let him know how possible it is that some malicious websites use data and even see your password from the backend and use it to try access other of the sites you visit or wallet .

These type of information is hardly used by people that doesn't know you in person. It is the people that know you in person that will use this information to act very fast and maybe target you offline and rob you.

A friend of mine kept his private key carelessly. When I cautioned him about it, he simply told me that people around him doesn't know what seed phrase is. How sure is here, even if they don't know today, they might know tomorrow.

Another thing newbies needs to know about is having a mentality that they can earn free money online from strangers. This has always been a strategy for scammmers to get advantage of newbies. Newbies should understand that their is no free money from strangers online,  you can only work and get your money by your own self. If a stranger is trying to assist financially just know it is just a way to get something big from you. Even the free airdrop people do generate money from before is something beginners need to avoid because lot of airdrop project that is in the market are considered to be scam.
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One of the reason why people fall into scam like this is when they have the mentality that money can be generated from crypto quick and their is no way to resist it when they come across scammers because they already think money can be made in cryptocurrency.

The most effective method to prevent oneself from getting entangled in prolonged conversations with unfamiliar individuals is simply by completely disregarding them. This is crucial because certain scammers possess remarkable cunning and can craft compelling relationships with individuals solely to obtain their confidential information. Some scammers employ persuasive tactics to engage with individuals, thereby swiftly establishing deep connections. However, refraining from responding to their messages serves as the optimal strategy to evade falling prey to their deceitful schemes, safeguarding oneself from potential harm and exploitation.

Many individuals who become ensnared by these types of scammers are often those who are seeking fast money within the cryptocurrency industry. However, a person with sound judgment will entirely steer clear of anything that guarantees substantial returns in just 24 hours. If anyone encounters such an individual promising significant returns, the questions one should ask oneself are: Where will this person acquire the funds they promise to return to you? Therefore, it's crucial for everyone to understand that there is no free and quick money available anywhere, not even in bitcoin investments. Profits in bitcoin investment typically require a long-term approach before substantial gains can be realized.


Telegram has become a hotbed for scammers lately, making it imperative for individuals to exercise caution when engaging with others on the platform. There was a time when I almost fell victim to a scam on Telegram, but by the grace of God, I was saved from being defrauded. Now, I'm extra vigilant and wary of suspicious activities. However, I've also managed to strike up meaningful conversations with individuals who claim to be acquaintances. It's crucial to remain skeptical and verify identities to avoid falling prey to fraudulent schemes.

Using the same password for multiple accounts poses a significant security risk. When individuals employ a single password across various platforms, they make themselves vulnerable to potential scams and cyberattacks. This is because if one account is compromised, all other accounts using the same password become equally vulnerable. Therefore, it is prudent for individuals to refrain from utilizing identical passwords for different registrations or platforms. By doing so, they can enhance their online security and reduce the likelihood of falling victim to fraudulent activities orchestrated by malicious actors.

There is nothing that anyone can tell me, social media is one of the easiest place to lose your crypto assets because it's been bombard with lots of fake links and fake giveaways, Twitter is the first one on my list, this is the most targetted social media by scammers and for scammers, sorry to say this Elon, your ass isn't doing anything to prevent it.

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1. Don't find any project, giveaways or freebies using Twitter.

2. Shun any strangers texting you, no stranger offers something good to people they don't know.

3. Don't take screenshot of your recovery seed and don't back it up using any cloud storage.

4. Get a hardware wallet, open source and non - custodial.

Avoid airdrops, or find a trust source and use a separate wallet for airdrop things only.

I guess it's also good to have a separate machine that you used for crypto let's say a laptop to your every day used. So that if you have a wallet on that machine, it will not be exposed. Of course it will be expensive, but it's a good practice not to lose your Bitcoin. We have heard horror stories of members here that their pc was hacked because it was facing and they have a lot of bitcoin stored in that machine. Definitely, do not click links that you don't trust, and don't trust but verify. Buy hardware wallet, and again back up everything and learn to practice security and safety here in this sphere.

A good reminder.

Don't store wallet file, wallet backups online like Google Drive, Dropbox, Azzure and any messenger application. They are not your homes and data can be breached, your accounts can be hacked.

Store your wallet, its backups offline, airgap is best.

People also have another bad practice, automatic save passwords when they log in accounts or wallets. It's potential nightmare in future if they are not aware of risk and continue to practice it and use a password for too long time.

There is one mistake that I see most newbies make. I don't know if other experienced crypto enthusiasts make such mistakes, but it's about storing their wallet phrase or private key online. Some software Android wallets usually ask users to backup their secret phrases to Google Drive or the cloud, and some inexperienced crypto users usually fall for this nonsense feature initiated by those wallets. TrustWallet has such a feature, as does OperaminiWallet. 

As a crypto enthusiast who doesn't want to lose your crypto asset, always make sure to keep your secret phrase out of any online space. 

I remember when I started my cryptocurency journey with the first wallet I created. I sent my private key to my brother via telegram and asked him to make sure he kept the information safe. Little did I know that my wallet could even get hacked through such foolishness. 

Another most popular way that some people have lost their assets is by greed to make huge profits from fake investment schemes that ask them to invest their coins and earn a huge profit, as you have talked about. It should be deeply taken into account by newbies.

Great input, even not newbies must know all of these.
It all starts with limiting your exposure or privacy practices, we should be mindful of our online presence and the information we share especially since people now are everything in social media.  We should avoid disclosing the amount of Bitcoin we hold publicly, and always be cautious about sharing our wallet addresses and posting on social media using our real accounts.

With this thread, it raises awareness for those people who don't know how to protect their Bitcoin holdings.
To avoid scams in crypto we should have this knowledge and awareness.

I've come across one before whose behaviour appears shabby to me, and I had to stop responding to his message. They message you as if they want to help you, then continue to ask you sensitive questions that could lead them into your account. I was fortunate to have already learned about security and privacy from the forum, even though the person assumed I was still new to the crypto space and even offered to assist me in opening an electrum wallet in order to obtain my private key, thinking I had no knowledge of wallet security. I had to snub him and stopped responding to his message in the end.


Telegram is a hub for scammers, and they continue to hoard a large number of them. They use a variety of techniques to lure their victims on a daily basis. Information is essential in the crypto space; you cannot proceed with something you are unsure of until it is clarified. There are far too many useful and false information floating around the community; simply identify the true ones and discard the false ones.

Good write by op, this guidelines will also help to enhance newbies and they ways of interacting with people online especially this forum since scammers do all things possible for newbies to fall prey. However here is my little addup..

As newbie always stick to this forum by asking questions on some important things when a random person gets into your pm asking for investment, maybe wanting to introduce you to a particular site. What they should do is to expose that site here for people that are professionals to look into the site if such site is legit or not, with this you can reduce the rate at which they could have got scammed.

OP, Your ost is definitely good, but it's weak in delivering the message due to the poor representation, usually, the replies look good without any heading and sub-heading, but the OP should be composed properly because your post is not a 3 to 5-lined paragraph.


Really shocking.. But why?

Trading can multiply the amount you currently hold if executed properly and I'm sure experienced people will prefer to trader rather than just holding in every kind fo market situation.

All of the prevention measures are important to adhere to, but personally, I am more concerned about number 7. The most successful scams are from people who know about the amount you have in your portfolio. These scammers can be people who are very close to you and understand your persona. This is why they can identify the best possible way to scam a person. All investors should avoid telling anyone, including their siblings, parents, or partners, what is in their portfolio. I know how exciting it can be to see your investment increasing, and you feel like sharing it with your close ones, maybe to motivate them to start investing or to make them understand that you have been elevated. Avoid it! Let's avoid it!

These two reasons why many newbies have been becoming victims of phishing websites. They think that it's okay to connect their wallets especially metamask to any of these websites.

Many airdrop people are connecting their wallets into the new projects adding liquidity as the reward will even be bigger. They add volume, using their own gas fees just to contribute.

But they have no idea if the project will become successful or just a decoy to attract more victims. That's why when it's come to this, I agree use new wallets.

You know the problem with this sign ups and referrals is that most of the paying airdrops this days are retroactive airdrops and most of this referrals and having to use gas fees to engage for daily activities are the Reason why people still believe in this things. Take for example this year most of the airdrops that have rewarded there users are the retroactive ones and this keeps pushing newbies into engaging in them. My advice is always similar to yours; always use a burner wallet and disconnect your wallet from DApps after every engagement.

As for seed phrase we should prioritize the use of passphrase because it is a second layer to the initial seed phrase and back them up separately offline. Use wallets that can allow you to have multiple addresses and prioritize the use of different addresses for different transactions because it helps against address poisoning sometimes

It doesn't make any sense to disclose the amount of bitcoin you are holding, the bitcoin you are holding is your secret, and it should be known only to you. Don't share it with people. Even people you see physically shouldn't know the amount of bitcoin you are holding in your wallet, not to mention a stranger whom you know nothing about. So even if you are encouraging people to invest, never tell them the amount you are holding, no matter how they force you. Don't tell people what you are holding just to convince them to invest in bitcoin. 

Anyone asking you to invest in a specific platform, and you will be earning a specific amount of money within a specific period of time without any risk attached to you, is just trying to scam you. Whenever you see posts like that, just ignore them. If a platform like that is real, they will never share it with people; they will only invest alone.

If you want to invest, then get yourself a non custodial wallet, accumulate your bitcoin, and never invest on any platform.

Telegram is just full of scammers. I never respond to any message I receive on Telegram because I know the messages are from scammers, people asking you to invest in a specific platform, once providing signals, and once asking you to claim an airdrop. So I don't just disturb myself by replying to any message from Telegram.

Most people that do connect their wallets to random websites are the ones who are hunting for airdrops, they don't know that a higher percentage of airdrops are just scams. I don't really encourage people to participate in airdrops, but if you will, then always create a new wallet and never connect the wallet where your investment is to any website.

You have really given nice advice, it's not applicable to only password, if you have multiple gmail accounts, then always have at least one gmail account that you don't use to register for things online, that should be your personal gmail account. Don't use your personal gmail account to register for things online, and you can also use different gmail accounts to register on different websites with different passwords that you know you won't forget.

Thank you my sis for the correction, though I have actually thought of that after I posted and just I can't defect where is the best for the post. I was open for any correction if here I posted was wrong place then willing to move make change with immediate effect. However I will moved now to the beginners and help section.
Have a good moments.

That deep conversation and sweet talks and words are likely a romance scam which is popular to the oldies but goodies. They're easy to trust people and even if a random stranger comes to them, they are not going to ignore them if they find some interesting words that they say. One attracting words they'll use is about making easy money and even if we've been reminding a lot of people to avoid such, there will always be those gullible people that will fall for these scams. An experience is what they need but sadly, even some of them have experienced these scams and fake investments, they never their lesson. I've read how many times with these stories that they've fallen to a stranger online that have asked them to invest on specific platform that's not even known, and obviously those fake platforms have been made specifically for their victims.

Dont even engage having a short one with them, the more you give a listening hear the more they begin to detect your area of weakness to know where they can strike.


If you're not greedy, you wont be enticed by anything you see from online, most of these flashy things are harm in disguise, its important to first deal with your ability of not been contempted.

OP, your guide would be a good guide in the beginner section.
I’ll add one point: during a bull market, manipulative reviews from public people will begin to appear with advice on certain investments or actions. People who want to be on time everywhere can take hasty and reckless actions that they will later regret. Be clear-headed in your decisions, and do your research before considering any investment.

Nice write-up, however let me summarise it this way:

1. Don't be greedy: It is only greed that will make someone want to invest in a project that promises out-of-the-world returns. Most people who were scammed were attracted by the huge profit these platforms offer. Anyone who can control his quest for quick profit will likely not be the victim of these scammers.

2. Be private: Some people talk too much. You will hear people talking about their investment in Bitcoin in public. Some of them go as far as showing their addresses on social media just to show how big or rich they have become through Bitcoin. So many people have not just suffered online attacks but physical ones because they expose themselves. There are cases where some crypto holders were attacked in their homes by armed robbers.    

3. Keep learning: Scammers and hackers are devising new ways of carrying out their nefarious activities, this is why it is important to keep learning about how to keep your wallets safe from these criminals.

4. Be careful with Social media: Social media is a free playing ground for scammers this is why it is important not to give out any personal information to any stranger. We should always be aware that nobody can be trusted on these platforms.

This should be the first red flag to let you know it's false marketing and the go-to line of scammers. What business promises a hundred percent of returns in your investment after a day? Jeez! That's bastard money if you do the math! If there's one thing common about humans, it's greed. Not everyone will be keen to share their knowledge with the public, rather they will prefer to keep making the money for themselves. I feel if most investors were not so gullible and impatient to take in profits, there will be less of these incidences.
 Scammers are being innovative but some are so desperate so you'd be able to tell by some moves they make. Most times the best thing to do before indulging in an investment you've not heard of before is to make your research.

100% Agreed. In addition, By allowing you to play a crypto game, within few seconds, some micro wallet payment platforms suck your hardly earned dust coins you earned through faucets and offer walls by wasting, time, data, and electricity. Don't waste your coins on gambling, there're some people I know who collect coins by browsing other faucets and use them on own faucets.

Just hodl
Avoid ads
Avoid fake wallets
Avoid fake exchanges
Avoid airdrops, or at least learn how to know the fake ones. I avoided airdrops.
Avoid phishing or attacks, through email, message or call.
Anywhere you see pay 2 to get 4, it is a scam
Use cold storage for huge amount
I prefer to use passphrase, against offline attacks
Avoid clipboard malware and malware generally
Avoid sending to attacker's address in address poisoning

These last ones are shocking:
Avoid trading. Use the amount of money that you can afford to lose for trading.
Also the same to gambling.

I have read lot of stories about recent ways hackers are wilding themselves to steal people's funds.
I will have to list few preventive measures to avoid being scammed maybe you could help add yours here to enable newbies learned and hold their bitcoin tight.

1. Do not engage in deep conversation with stranger who is only interested asking you about your total bitcoin holding or even regularly asking you about the platform you invested.

2. Do not be fooled with their sweet words where they keeps asking you to invest and make money your interest within 24hrs to gain about 100 percent of your investment. Note; this is purely scam otherwise no other investment platform or anyone to be trading and giving you back 100 percent of your capitals.

3. Sets your telegram account where someone from same group can't contact you because telegram is the head of scammers, they can clone or impersonate someone you know and scam you without the knowledge of the real person.

4. Do not be carried away with signup and referral bonuses, there are some people who are always thrilled with that in fact they hunt for that and sometimes they go meet the wrong site where they site would asked them to deposit some specific amount. Please newbie be warned do not be desperate to own some units of useless tokens whereby risking yourself.

5. Do not connect your wallet directly to any site you are not sure of otherwise you could be piped. The best advise is to always make a new wallet and send few gas fee to that wallet and keep your real wallet secure and safe from alteration.

6. Do not create account in any website with the same password you used in another website that is so important to you, lets for example bitcointalk and other forum do not use same password you never can tell what would happened since you don't control the platform by yourself. It's important to always use separate passwords.

7. Do not tell anyone how much is your investment or what year have you started holding bitcoin, such types of discussion often exposes' you to hackers, they don't mind using any forms of techniques to scam you since they have gain little information about you through discussion that is why it's advisable to avoid some sensitive discussions about oneself.  Keep in mind that you don't have to involve yourself with any discussion about when you join bitcointalk or when and how long have you hold bitcoin probably what year. What I noticed is that most people often use this answers as secrete question / answer whereby you won't know when you are giving them this vital information from then your account could be hacked.

8. Do not memorized your seed phrase or private key or even store it where someone that knowns about what you are doing. Possibly avoid someone peeping through your phone and device while at home or office, there could be some spy camera watching over you.
 
Please anyone else can add theirs lets' keep the newbies awake since is already bull time scammers are looking for a way to accumulate bitcoin they didn't sort for.