Mo. Apr 15th, 2024

Somebody was friendly enough to post the 8 laws of Bitcoin into the bitcoin subreddit. So we translated it into a blogpost for you:

  1. Never Discuss Your Bitcoin – Don’t ever disclose the amount of Bitcoin you have with anyone. Ever.
  2. Not Your Keys, Not Your Bitcoin – If your Bitcoin is not stored safely in your wallet, you do not own it. If you leave Bitcoin on an exchange, you do not own it.
  3. If It’s Too Good To Be True – Nobody in this world wants to give you free Bitcoin. Nobody wants to double your Bitcoin. Nobody wants to offer you a business opportunity. It’s a scam. It’s a scam. It’s a scam.
  4. Your Seed Is Your Key – Your 24 word seed gives access to your Bitcoin. Back up your seed and store this in a secret place offline. Anyone that has this seed can take your Bitcoin.
  5. Double, Triple, Quadruple Check – When sending or receiving Bitcoin, double, triple, and quadruple check that the addresses are correct. One incorrect character can cause you to lose your Bitcoin.
  6. Check Those Links – Anytime you buy, send, or receive Bitcoin, make sure you have a verified legitimate link, url, or website. There are a lot of scamming websites aimed at taking your Bitcoin.
  7. Everyone Has An Opinion – Everyone has an opinion on Bitcoin. Take it with a grain of salt. Never listen to one single individual and do your own research.
  8. Investing – Never invest more than you can stand to lose.

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