Most Common Mistakes Beginners Make
12 words + passphrase solves virtually all problems and can be easily taught for mass adoption.
Main Mistakes:
- Thinking that BTC is stored in hardware wallets
- Backing up words in Excel, photos, phone notes, or sent by email
- Not using a passphrase
- Using a passphrase, but too complex and poorly written
- No backups or only one
- Overconfidence
- Not verifying that the backup is correct before starting to accumulate
- Falling for scams, "friends," "yields," etc.
In my experience, neither dice nor multi-signature wallets are for everyone.
12 words + passphrase are.
Due to the Coldcard incident, the more layers of security we use, the safer our BTC will be.
Diversify your wallet across multiple wallets.
◇♧☆ If I missed any other errors, let me know in the comments below so we can all learn.☆♧◇