Welcome to the Bitcoin Decentralized World, here you will get all rights in your hands. Bitcoin is an open-source protocol for everyone, Bitcoin is people money without any centralized control.
Remember: Trust No One. Trust No One. Trust No One.
Trust Yourself. Trust Yourself. Trust Yourself.
Must Read All Points: Little Laziness loose everything
- Learn First Buy Later. If you are new to Bitcoin them must do some research about it unless you will lose everything just like a kid. How to do research? waw its very simple – open browser starts searching about bitcoin and starts reading about it as much as you can. You don’t need to learn too technically but must have some useful knowledge of it which is compulsory for your security as no one cares you, only you are responsible for your security.
- Be Aware of Scams. There is a large number of scams going on in Bitcoin world which can trap you easily, please avoid greediness of becoming rich fast and don’t invest anywhere by following others, read others opinions but only follow yourself by doing your own research. You may lose too much by doing a single mistake mind it.
- After Buying Bitcoins. You can buy Bitcoins from your any trusted dealer or any local exchange, Use decentralized exchange like Bisq if you want to secure your privacy or you can also use Wasabi wallet and Samourai wallet to make your bitcoins private. Please do some research on it.
- You must have own Private Keys. Make sure you have ownership of private keys of your Bitcoins, if you don’t have private keys then you may lose your coins anytime. Don’t use those wallets which are not providing private keys of your Bitcoins to you. I prefer to use Electrum, Mycelium as they have good UI as well as old and trusted, but best to do your own research then choose which one you like. You can also create your own private keys by some open source algorithms like Bitaddress but in this case, you must create it offline and the hardware (pc or laptop or anything) must not be online anytime in future and must not be shared to anyone in the future.
- Core wallets are the best to use. Setting-up your own Core wallet quite a bit difficult as Blockchain size is too big which had to be downloaded to setup Core. But if have the ability to setup Core then you can use your core wallet to store your Bitcoins securely. Remember if any hacker got physical access to your Core then he/she can steal your Bitcoins easily, but you are 100% safe from online hacking attacks.
- Don’t store Bitcoins on Exchanges. Maybe an Exchange providing good security, maybe an Exchange is very old and was not hacked even once in history. Maybe you have a great belief on the security of an Exchange, Maybe an Exchange is providing insurance to your Bitcoins. But But But Please Please Please Do Not Store Your Bitcoins on any Exchange. Please Transfer your Bitcoins to those wallets in which you own the private key or to your core wallet if you have or to any wallet where the private key is owned by only you, not by any third party. Be 100% Safe.
- One address One Time. Please don’t store your Bitcoins in an address which is used before. Always use a Freshly created address which does not have any transaction before. It increases your security by minimizing risk.
- Use hardware Wallets to store Bitcoins. Best to use famous hardware wallets like Trezor, Ledger to store your Bitcoins securely.
- Store Bitcoins in multiple wallets. Please do not store your all Bitcoins in one wallet. You may lose that wallet or may be attacked by someone. Please use multiple ways with multiple wallets to store your Bitcoins like some in hardware wallets or some in other wallets or some in core wallet or some in personally created private key wallets. Use more than one hardware wallets to store your Bitcoins.
- Stay updated with technology and with hacking attacks going on by hackers.
- If you are Lazy and Careless please stay away from Bitcoin. Get a job and live a happy life in your Fiat world. If you don’t know what is Bitcoin and do not want to know what it is, then please don’t make false and stupid statements about Bitcoin.