Well, it depends on what you're planning to do. Bitcoin isn't the best when it comes to privacy; there are other options for this job, such as Decred, Dash, and Monero. Regarding security now, I'm not too certified to voice an opinion, but quite a few incidents have occurred with wallets being compromised, some of which were supposed to be non-custodial but turned out not to be; see the latest incidents with Atomic or Trust wallets. There are certainly ways to preserve your security, by using non-custodial, air-gapped or hardware wallets. While there's never a guarantee, taking the necessary precautions to prevent a possible compromise

The crypto industry cannot overcome these challenges, these challenges are part of the industry. The best we can do is to find a way to mitigate them.

For security and privacy, it can be said as below;

• The security of the coin network: In this aspect, the most secured coin is bitcoin and it is very much decentralized.  So, unless you talk about shitcoins which has not good security architecture
• Security of the coin in the custody of the investor: This is when we begin to talk about the type of wallet you use (custodial or non custodial), here we begin to talk the right use of the exchanges. We also talk about how safe your devices where you install your wallets are and more.
• Privacy: It is here we talk about how the projects are about to conceal the data and information of the investor. It is here that privacy coins like Monero comes to play, also here mixers comes in for Bitcoin and more.

So, every problem already has solutions in the cryptocurrency industry.

It will attack us for real and many will target crypto assets if we cannot protect the privacy of our portfolio.

See some news that reported that the owners of quite a lot of Bitcoin assets were targeted for robbery and murder.
That means being anonymous is very important and crypto privacy must be very well maintained.

If only online crime may only deal with Malware, Phishing, and some scammer methods that will try to steal the private key or seed phrase wallet that we use.

In terms of what? hacks? then do used hardware wallets, make a very hard password that is not easy to break. Used 2FA or Google Authenticator.

On the outside world, don't talk to anyone about how your crypto investments is, whether it's big or just enough for you. Don't trust anyone. We all know that "byob" - Be our own Bank so that alone will tell us to be very very careful already.

And for the wallets, protect your private keys and do not divulge it to anyone.

When we are talking about the general terms which is cryptocurrency that has brought every other digital currency into same approach, we cannot but different bitcoin in cryptocurrency that it's different from the same consequences other crypto received in terms of security and privacy matters, bitcoin is the only most secured and privacy digital currency anyone can choose to adopt, other cryptocurrencies are centralized and there's lesser security and privacy on anything centralized.


Everyone of us constitute to the change in cryptocurrency, if you engage in scam or promote any related activities in scam, we should learn about bitcoin, know the difference between this and other cryptocurrencies, avoid investment on shitcoins, then take custody of our asset into our possession, avoid third party interference, avoid centralized means of holding our digital coins by being decentralized using a cold storage wallet, if all these were taken into consideration we may not have issue related to scam, security and privacy challenges.

I am talking about the Bitcoin here so it's known that it can't be tampered or reversed after the confirmation which is the positive side of using cryptocurrency but the idea of being our own bank might be the challenge cause we are completely responsible for our holdings so if our system becomes vulnerable then attackers can assess the keys or wallets itself and drain your wallet.

This is not only related to cryptocurrency but the whole privacy of all internet users so its important to create awareness about keeping our data safe while connected to online.

I feel that is the most we can do for security and also privacy, you cannot be scared about securing your own funds and then trust others to keep it for. The kind of attention you will pay for any of your things is certainly not measured same to how a person or an entity will have over yours. And if you are kind of too scared then there are options like trusting your kin or families to keep some for you rather than storing these keys on platforms that either the developer would one day compromise or some of its work will. But with multiple back or using kin and family then you know where or who must have been involved in compromising your funds. I still think the best of bitcoin and crypto currency at large is the been our own bank.


The problem is all these authentication are actually available but the major problem is as technology advances with developers trying to create extra layers of security so will scammers, there is no way beating this. The thing should be people should seek out adequate knowledge in everything they want to get into and shouldn’t be in a rush to do things like installing or updating apps, verify them diligently. Even if people use encryption they would still get compromised if they aren’t careful. Take off your keys off online services no matter how hard it is for you to be your own bank. People should also be less greedy because most of the major scams are through phishing which are followed through by people that want to earn through faucets or airdrops

There's no privacy worth protecting when you use centralized platforms - almost all of them require you to pass KYC. If you care about privacy - then you should use decentralized exchange that has good reputation. The advent of decentralized exchanges is how some developers have handling this problem.

Apart from that - the mixer is made to make it easy for you to get some privacy for your coins. But recently the government has closed some of its services.

First of all, you had been here for quite a long time, you can put more effort when you created a thread.

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I agree with you in most of your statement, the only problem i see its..... the "new" crypto guys who doesnt want to understand basic question and think all its beautifull and easy, and also think KYC was only invented to destroy crypto.

When you ask them the question , ok now go an buy a house in the real life with the money made in crypto without having a job and without making a laundry enginering of money.

Yes, they cant provide an answer.

Crypto industry definitely CAN tackle these issues, just not yet as there are no tools ready for that. But there's going to be.

Privacy trough ZK smart contracts alone and ZK based ID will guarantee that information will be private, and can in fact be a holy grail for GDPR privacy laws. These are currently being made, they are just not ready for big adoption yet.

I am thinking that by security, OP means investor's security as user is always responsible for themselves. And it's really hard to do anything for the user safety on this. Users will be always the weakest link and vulnerable for social engineering, thefts or hacks. Some coins could technically deal this in token issuancer level and make transactions reversable. But i am not sure what that would look like or what would it do to the ideology of decentralization and permissionless transactions.

These immutable transactions most likely won't fly with regulators when we are talking about altcoins that had an ico, ido or any kind of sale. It's likely that demanding that user is responsible of his tokens (self custodity) will be against consumer protection laws but it isn't yet being dealt with.

Regulators can't really do anything about fairly distributed POW coins, or coins that have achived a certain level of decentralization, except maybe they can ban them from CEXes, but teams of funded coins could technically be sued later on about this. I am actually baffled why they haven't yet used this type of attack yet. Maybe it's coming later.