Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Stable090
on 19/07/2024, 17:15:31 UTC
For me I would say it is important to study about security measures before investing in Bitcoin, but it doesn't mean that one should apply for online or offline course to only study much about security measures and how to buy and sell bitcoin before starting to invest.
If you don’t learn about wallet security before investing, then don’t be surprised that you will end up losing your bitcoin. Wallet security is one of the things we are not supposed to joke with when investing, because it’s really going to be bad losing bitcoin after holding for a while, so we shouldn’t joke with that.
 
Also, if you are learning about wallet security from anyone, make sure you don’t use the wallet that was used to guide you in storing your bitcoin. Don’t trust anyone, the person might have secretly stolen your seed phrase and will be waiting patiently for you to store bitcoin before stealing from you. So the best thing to do is, after learning, create a separate wallet for storing your bitcoin and properly store your seed phrase.
 
When storing seed phrase, it should be completely stored in a place where there is no internet connection, it should be completely stored offline. If you leave your seed phrase in a place where there is an internet connection, you are at risk of losing your bitcoin at any moment.