I'd say the first target for as a newbie is learn the principle.
Many newbies can't understand the reason why they want to buy Bitcoin except for making money, they need to know if Bitcoin isn't the only one asset that good to invest. If they understand between each asset and still choose in Bitcoin, they will not regret since they understand what the of Bitcoin is.
Security is the most important especially in digital space, everyone must have a common sense to small a scam or flaws.
Topic: Security Should Be Your First Target as a Newbie - page 4. (Read 755 times)
Being a newbie, we have to focus on the security of our asset first before trying to make investment, this begin with having the understanding of what are the things expected of us to know and do at the course of learning about cryptocurrency, when we are informed, we will not be misinformed, but when we don't know what to do or how to go about it, we begin to receive various offers that may not fit in for our regular safety than when we know what we are doing.
A good newbie should always make sure he is secure from the beginning and its a protocol not for newbies but for everyone. In the real world a lot has been hacked or scammed even though they arent newbies due to what? Carelessness and being bit of hasty isnt it. Its always good to slow down and have sense in doing things. If not sure of something ask first, theres no harm in doing that than making a mistake that could haunt you forever.
For the newbies, is important to build a good security foundation by way of choosing the best wallet with higher security and for those of us non-Newbies we also have to keep up to date with our wallet security and how we move our funds around. Is also important to take also into consideration, the need to be able to implement a second layer of security to everything we do, since the security of our funds is the basic and primary thing to do.
A good newbie should always make sure he is secure from the beginning and its a protocol not for newbies but for everyone. In the real world a lot has been hacked or scammed even though they arent newbies due to what? Carelessness and being bit of hasty isnt it. Its always good to slow down and have sense in doing things. If not sure of something ask first, theres no harm on doing that than making mistake that could haunt you forever.
Security Should Be Your First Target as a Newbie
If I was to be a newbie, my first target would have been to learn how to earn bitcoin. By learning how to earn bitcoin I would definitely come across many things. It is only when you have bitcoin or have learnt how to earn it that you begin to find the best way to save your bitcoin. I am not undermining the essence of good security practices, but I am seeing that earning will motivate one to learn how to save well.
I have read a thread that says "knowledge of bitcoin without investment is a waste", I think agree with that.
Newbies must search, read and learn first.
Exactly, newbies need to read, learn, and have the capacity to earn and every other things come in. Then, when it is about security, newbies should try to use the exchange as an exchange and the personal wallets as wallets. It will be safer this way.
The importance of security cannot be overemphasized. Let's take an instance of you trying to move to a new place, you will do your research to know how safe and secure that place is right? Well it's the same with anything here on the forum because without ample information on what you're dealing with, you're no less better than a blind man and this leaves you open to attacks.
As a newbie always ensure you make proper research before investing on any cryptocurrencies because you could be moved by the hype and promise of profits some of these digital tokens tend to present and miss out on the dangers especially those interested in altcoins.
As a newbie always ensure you make proper research before investing on any cryptocurrencies because you could be moved by the hype and promise of profits some of these digital tokens tend to present and miss out on the dangers especially those interested in altcoins.
2: level of security of your wallet, what is the level of the wallet security and how well does the wallet allow you to add another level of security of wallet e.g. multig 2fa, etc?
3: avoidance of greed tendency e.g never being involved in anything such as investment unless just to buy Bitcoin and hold, because doing so will allow you to always be 8n control of your wallet, since most other investments may require you to transfer your Bitcoin to third-party platforms that may or will become scam or victim of security crisis like exchange hacks.
The above tips may look theoretical and lack technical analysis, but they help a lot and I advise you to apply them as a newbie in other to have a good start in your Bitcoin journey.
Personally I don't recommend any wallet without 2FA, although it doesn't guarantee 100% security but it helps a long way to keep your wallet from easy access if you are vigilant and got a track monitor on your wallet. Clicking on links that says they are giving away BTC in reward and bounty's for certain promotion online should be avoided totally as a vast majority are phishing links and malware with which they get access to your wallet.3: avoidance of greed tendency e.g never being involved in anything such as investment unless just to buy Bitcoin and hold, because doing so will allow you to always be 8n control of your wallet, since most other investments may require you to transfer your Bitcoin to third-party platforms that may or will become scam or victim of security crisis like exchange hacks.
The above tips may look theoretical and lack technical analysis, but they help a lot and I advise you to apply them as a newbie in other to have a good start in your Bitcoin journey.
I always advise newbies that there's almost nothing as Bitcoin investment outside HOLDING, stop patronizing these scammers who come with such ideas as Bitcoin doesn't give such turn over in such a short period of time, never will you see a legit Bitcoin turnover yielding such huge amounts they promise in very short time especially when it's not a bull run, even Bitcoin trading is not very ideal as some of this scammers come with the idea of trading and making it look very appealing, but I can assure you from experience if you are not the trader do not entrust your portfolio to another to trade for you it's not safe. HOLDING in a safe wallet still remains the best way to invest in Bitcoin.
Right, and I agree that it's not just for newbies but also for everyone. About the type of wallet, there are still some people who are saying they trust online wallets for keeping their balances. Well, we all know that it's a wrong thing when you're going to use them as your long-term storage of wallets and there's even an article that shown that huge institutions are keeping it the opposite way, the way we know what's right. And that's them that are trusting exchanges to keep their portfolios. Don't be like them if they afford to do that but we just have to do what's right. As the famous phrase we say, "not your keys, not your coins".
the advice is for everyone and the majority of us here still uses online wallet despite their risk and vulnerability anything connected to the internet is another easy for hackers to bridge security but I think there is a limit to that, and I can bet that 70 percent of us still use online wallets. and we all are aware of the dangers, and the worst to trust is the exchanges are worst they have a lot of much more dangers keeping your funds there. what happened to FTX is enough to learn from, not your keys, not your coin the destiny of your assets should not be left in the hands of an exchange. Op, This are really helpful to all especially to those just starting their bitcoin journey. Aside all these there is one key security features:
Update your wallet whenever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.
Update your wallet whenever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.
Another piece of advice is to verify the wallet update before pressing the update button. There is already a case where some hackers tampered with the update of software that made many Bitcoin holders lose their holdings. Like what happened to many Electrum users who got victim to a hacker's fake message of wallet updates where when the user tries to click the update message will be directed to a malicious file. According to the article: Hackers steal over $22 million via Electrum wallet, the user ends up installing the malicious version of the electrum and ends up getting hacked the next time they logged in.
Security is not a hard thing to do but what we did is we ruin it and let someone hack our keys due to the wrong practice of safekeeping. We usually think that by having those things that you have mentioned OP, we are totally safe which is not as we are still prone to these smart hackers. Honestly, we are all subject to that scenario as we are working online. But there is a way to avoid this (at least) and that is not to click and visit sites that are not known to us or something to say, unsolicited links that redirect us to account login.
There's a reason why I always link security-related sites/articles for my copypasta. People always overlook security because apparently most of them have "secure" devices anyway, even though a lot of them use cracked versions of Windows OS and likes to install pirated software lmao.
* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html
* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html
Anyone who starts using the Internet first of all needs to learn how to use it correctly. What do people who buy a new gadget and start their online journey do? The first is entertainment, games, etc. But mostly, it is on such sites that we get a bunch of viruses that remain on devices for a long time, causing some kind of inconvenience. Therefore, if you are going to deal with financial issues, separate the places where you will use the Internet for entertainment from the places where you are going to deal with investments and handle wallets. That is a serious matter. Computer security begins with the understanding that you don’t need to be distracted by bright banners, tempted by calls for easy money, or trust that someone suddenly gives you prizes. Even if you don’t have the money for an air-gapped device, a hardware wallet, or even a quality antivirus, you can safely use your Electrum wallet, provided you are confident in your Internet surfing skills.
Newbies must search, read and learn first.
They must do those steps before doing anything like posting, trading, investing, using an account, wallet to store their bitcoin. Hopefully if they search, read, and learn as their first steps, they will find my topic.
Good topics on security and privacy that is renamed to Security and Privacy Encylopedia today.
I can miss some threads but they can find missing threads in Beginners & Help Encyclopedia.
They must do those steps before doing anything like posting, trading, investing, using an account, wallet to store their bitcoin. Hopefully if they search, read, and learn as their first steps, they will find my topic.
Good topics on security and privacy that is renamed to Security and Privacy Encylopedia today.
I can miss some threads but they can find missing threads in Beginners & Help Encyclopedia.
Right, and I agree that it's not just for newbies but also for everyone. About the type of wallet, there are still some people who are saying they trust online wallets for keeping their balances. Well, we all know that it's a wrong thing when you're going to use them as your long-term storage of wallets and there's even an article that shown that huge institutions are keeping it the opposite way, the way we know what's right. And that's them that are trusting exchanges to keep their portfolios. Don't be like them if they afford to do that but we just have to do what's right. As the famous phrase we say, "not your keys, not your coins".
Op, This are really helpful to all especially to those just starting their bitcoin journey. Aside all these there is one key security features:
Update your wallet when ever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.
Update your wallet when ever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.
Another piece of advice is to verify the wallet update before pressing the update button. There is already a case where some hackers tampered with the update of software that made many Bitcoin holders lose their holdings. Like what happened to many Electrum users who got victim to a hacker's fake message of wallet updates where when the user tries to click the update message will be directed to a malicious file. According to the article: Hackers steal over $22 million via Electrum wallet, the user ends up installing the malicious version of the electrum and ends up getting hacked the next time they logged in.
Op, This are really helpful to all especially to those just starting their bitcoin journey. Aside all these there is one key security features:
Update your wallet when ever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.
Update your wallet when ever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.
Security of your Bitcoin investment is one of the biggest challenges that most newbies face, to the point that some of the newbies who have fallen victim to the various security attacks be it on personal Bitcoin wallet attacks, where newbies get exposed to phishing that steals security keys and thereafter taken control of the wallet, or exchange hacking that leads to lost of wallet balance on the exchange, etc.
This scenario has a large-scale negative impact on the overall motivation of newbies in the industry,
Because I live in a country where the economy is poor and many youths are engaging in scams, I always take security details very important, and it was one thing that I was always concerned about when i first joined this forum. I knew then how important it was, I know how important it still is. If a newbie becomes a victim of loss of bitcoin, it is very discouraging and can make the newbie not want to continue investing in bitcoin because they will feel that bitcoin is not safe to keep. This scenario has a large-scale negative impact on the overall motivation of newbies in the industry,
Not just newbies, it should be the priority for everyone.
Sometimes, I wonder why we push these advice to only the newbies when we know that any one can be a victim of scam.it all falls down to how much efforts you have ensured In securing your funds.ive seen a lot of situations on the forum , when higher ranked members reported to have been victims of scam and asking the forum for help. The best thing is to be updated with some of the latest ways in securing your funds. You can by a hard ware wallet, which stores your funds offline and away from threats. But since the hardware wallet is expensive, just as @Findingnemo had said, you can set up an airgapped device and install Electrum or other secured wallets. The airgapped device acts as a cold storage keeping your funds away from the internet.Taking this as just a reminder and thanks to ops, but then you should not limit the advice to newbies alone unless you have your reasons for doing so.
Not just newbies, it should be the priority for everyone.
Sometimes, I wonder why we push these advice to only the newbies when we know that any one can be a victim of scam.it all falls down to how much efforts you have ensured In securing your funds.ive seen a lot of situations on the forum , when higher ranked members reported to have been victims of scam and asking the forum for help. The best thing is to be updated with some of the latest ways in securing your funds. You can by a hard ware wallet, which stores your funds offline and away from threats. But since the hardware wallet is expensive, just as @Findingnemo had said, you can set up an airgapped device and install electrum or other secured wallets. The airgapped device acts as a cold storage keeping your funds away from the internet.
For me, I think the best and most important option should be to know what to secure before even thinking about the noteworthy security protocol to observe in order to keep safe what it is one has discovered.
For Bitcoin or any crypto currency, I have learnt so far how to avoid the hook of visiting phishing sites and ads meant to install spyware on ones device inorder to gain vital data. I still don't know the all of it, but my time here will help me learn more and lead me to one of the main reasons why I joined this forum in the first place, which is to learn about trading crypto and how to make the best profit from it .
For Bitcoin or any crypto currency, I have learnt so far how to avoid the hook of visiting phishing sites and ads meant to install spyware on ones device inorder to gain vital data. I still don't know the all of it, but my time here will help me learn more and lead me to one of the main reasons why I joined this forum in the first place, which is to learn about trading crypto and how to make the best profit from it .
Jump to: