so people are saying Bitcoin is about to be worth $100,000 a coin I don't know when that's going to happen but I want to show you how to protect your Bitcoin borrowing some ideas from a little bit of History during World War II there was an Army

called the ghost Army it was an American Tactical deception unit that used inflatable tanks fake radio transmissions and sound effects to mislead the enemy making them believe an entire Army was present when it wasn't this psychological warfare tactic distracted the German military

and saved a lot of lives there was also Robert Houdin now if Houdini was the father of magic then Robert Houdin was the grandfather it's also where Eric Weiss got his inspiration for his stage name Houdini and one of the most famous

legends about Robert Houdin was about him performing for the Algerian tribal leaders because in 1856 he was asked by Napoleon Bonaparte III for his help in conquering the French colony of Algeria now the Algerian Chieftains at the time

believed in Magic and superpowers so Dan presented them with a chest that looked not very different from this one which he said could be made heavy or light using just the power of his mind so one by one he invited them to come and pick up the chest and they all

did easily because it was super light and then with the power of his mind he made it so heavy that none of them could lift it the Algerian leaders believing that the French possessed magical powers stopped their Rebellion now this trick right here is called the

light and heavy chest, it's a classic in magic, but the point is that there's a common thread in security magic which at its core is deception. The takeaway here is that convincing others to look in the wrong place or to see something as valuable

when it isn't is extremely powerful. The easiest way to steal valuable information is in ways that most people don't consider. It's like misdirection. Just when you think you're watching a video on Bitcoin safety, bam, income World War II stories. And just when you think

you're watching a video on history, bam, income the lightsaber attacks. Misdirection. Someone comes to your house, bonks you over the head with a wrench until you give up your private keys or your seed phrase. What do you do? So I want to give you some ideas on how we

can apply this thinking to securing your Bitcoin. Because if these so-called experts are really right and Bitcoin does become a lot more valuable, I want you to hold on to it and not lose it. So let's go over some common attacks and the best security practices of how not

to lose your coins from a real-life loser. So let's get into it. Hi, my name is Andre J. Hope you're doing well. Come for the finance and stay for the magic of misdirection. And speaking of misdirection, I think we're we're going

to see Wall Street systematically take the Bitcoin away from ordinary people. It'll be like a magic trick, and here's how I think it's going to happen. A lot of people have been buying Bitcoin ETFs. You can find a bunch of different ones on your favorite brokerage app, and I've

seen people do what's called covered call options on Bitcoin ETFs to collect dividends or premiums as they're called. Covered calls are like making a bet that Bitcoin could reach some price point at some point in the future. Like, let's say I make a bet that Bitcoin

will not reach $100,000 by next week. And if it doesn't, I get to make some money, the premium. The more realistic the price point is and the closer it is to the deadline, the higher the premium. But if it does reach the price point, then the

Bitcoin gets called away from me at a lower price point than where it is today, and that's a bad idea because Bitcoin's extremely volatile. It can gain tens of thousands of dollars really fast. So if there's someone telling you now you can make some extra money by selling some

covered call options on Bitcoin ETFs, I would just avoid it. It's not worth it. Instead, I would keep it on the blockchain, which has never been hacked. It's the most secure place to keep your coins. Step number one also is get yourself one of these, a pepper spray.

Just kidding. Can you imagine this whole video was going to be about just KV magas self-defense tactics? Yeah, I just, you know, the worst mistake is, of course, keeping your coins on an exchange for a long period of time. As soon as you deposit your coins there, that money

belongs to those companies. What you own is a piece of paper that says you own something, and that's not good because when those coins disappear, that's where the phrase "not your keys, not your coins" comes from. Exchanges like banks can fail, but there's a major difference because

Unlike major banks, they are not FDIC protected, which means federally insured and obligated to be returned up to $250,000 of our money in the case of failure. This is the law. The same extends to trading brokerages that are SIPC insured. If an app like Robinhood

goes bust, you can still get some of your assets back within the SIPC limits. But these laws do not extend to crypto assets. There is no obligation for these funds to be returned unless you bought the Bitcoin ETF, which is what people are now doing. But be very careful and don't

get greedy trying to sell covered calls. Exchanges can also be hacked, and even worse and more likely, they can go bankrupt because of negligence, greed, or some bonehead CEO starts doing bad business practices like loaning your money to other companies that are leveraged into risky bets that are

cross-collateralized with other risky bets, and they become overly reliant on one another. And they eventually blow up. And because they all relied on each other, when one failed, they all failed. So protect your coins. And if you choose to self-custody your Bitcoin, meaning hold

and and protect the asset yourself, here's what you should watch out for before you get yourself a hardware wallet like this: The Ledger, the Trezor. Just remember, there's plenty of them out there, including the Coldcard Q, which is way more advanced. Make sure you buy them

directly from the manufacturer. Another mistake is keeping your seed phrase on your phone or on some app. Remember that these devices generate that 12 or 24-word seed phrase. This is the key to your wallet. It's not the hardware itself that holds your coins. Your coins are on

the blockchain and the hardware here is just an interface, it's a piece of software that allows you to talk to the blockchain easier. Unfortunately, it's not that uncommon that when people set up these devices, they take a screenshot of their seed phrase or they put it on a

password logger like 1Password. Those apps and password managers have been hacked before, so it's not safe there either. And if your computer has a key logger or someone plugged in some device without you looking, or worse, you accidentally download some Chrome extension that sends you something or

makes you sign something, they could figure out your OnlyFans passwords and other compromising information. So never type your seed phrase into a computer that is connected to the internet, ever. The moment you do that, the wallet becomes what's called a hot wallet, meaning it's susceptible to all the things of the

internet. Now if you're thinking to yourself, "Well, fine, Andre, I'm just going to store it in my home safe." But if the lock picking lawyer hasn't scared you yet, it's also the most obvious place that someone's going to look, that's where your valuables are. It's a honeypot.

They may not be able to crack your safe, but they could steal it and then later brute force into it. And if they can find that piece of paper, they'll know exactly what it is. It could even be as harmless as your house cleaner coming by to find

your seed phrase somewhere and then a couple years later, just when you think you're safe, poof, you'll have no idea how your device, which no one has touched for years, was wiped clean. You're going to think, "I was hacked. Bitcoin is a scam." But

No, instead you just granted someone access by not storing your seed phrase properly. And don't trust anyone, including your dog, because they could accidentally eat it too. It sounds silly, but it's actually happened before. So if you do store it somewhere physically, make sure it's not just written down on

a piece of paper. That's a risk if your house burns down and you lose it. Instead, keep it somewhere on a metal sheet or a device that's really hard to destroy, like a bill photo or the Crypto Tag. The Crypto Tag displays what's called a BIP

39 mnemonic, which is made up of 248 different words that you can use to reference and reconstruct your 24-word seed phrase. Another potential problem that I've seen is splitting your seed phrase into multiples, like if you have a 12-word seed phrase, splitting it into

six and storing it in two different locations, or even worse, a 24-word seed phrase in three different locations. Don't overcomplicate it. Keeping track of one or two things is already hard enough, because if one or two of those sections is compromised, it makes it

possible with a brute force attack to figure out the rest of the seed phrase for someone who is sophisticated enough. Instead, pro tip: set up a secret wallet by way of the 25th passphrase. What that will do is if someone finds your 24-word

seed phrase, as long as they don't have that 25th passphrase and your seed phrase together, they would not be able to access that wallet. And it's also super useful because you can delete your accounts, and something like the Ledger Live, for example, you can remove them and delete

them permanently until you want them back and that's really useful especially when crossing the border to another country if God forbid a TSA agent opens up your laptop and finds oh this person's a crypto person they have some money in their account well how much is

it they open it up and they find out you're transporting all this money well you can get detained you don't want to put yourself through that so just hide those accounts and their values right now I'm going to show you how to set up your secret wallet and the way we're

going to do that is by setting up a 25th pass phrase now the way the secret wallet works is you're going to be assigned a new PIN code to access your key and you're going to create a passphrase now the way that it works is

this secret wallet is a derivation or a derivative of your first wallet the main wallet that we've created in other words the private key are the same 24 words except we're going to be adding a 25th word the idea is that this 25th word

should be something that you can remember but you can also write it down somewhere you can store it on your phone you can put it in a password manager app if that's what you want the goal is to separate these words and that 25th word

and the goal behind it is that if someone was to get access to your 24 words they would get access to your main wallet but if you hold most of your money in the secret wallet the idea is that they would not be able to access it

now it's still possible for them to brute force and access your secret wallet because remember you're now only hiding behind one word but hopefully it buys us enough time that if we discover someone gets a hold of this we can move our funds

before they discover what that secret wallet word is that's how it works and I'm going to show you how to set this up so let me show you how to do that right now once you've plugged in your key what you're going to do is you're going to

enter the PIN code so for the main wallet remember it was 1 2 3 4 goes without saying obviously yours is going to be different and not that easy to guess so what you're going to do is you're going to scroll to the right all

the way until you see control center now at control center you're going to just just hold both the buttons for a couple seconds and that's going to bring you to this other screen now here we can either lock device we can go to settings or close check our battery level device

name and Bluetooth but what we're going to do is we're going to navigate towards settings and manage device and we're going to click both the buttons to select it we're going to scroll to the right till we see security so press that and here we're going to do the

passphrase now once you click both buttons passphrase it's going to show you Advanced feature read passphrase manual so what we're going to do is we're going to navigate all the way to the right so I pressed it twice 1 2 and it says check mark setup passphrase so

that's what we're going to do boom set up passphrase now in this section it's going to present you with two different options it's going to show you attach to pin or set temporary now there is a big difference between the two attach to pin means that your secret passphrase

that 25th word is going to be stored on this device meaning every time you enter the PIN code which we're going to create a new one for the secret wallet it's going to recall that 25th passphrase in other words it'll give you access to

that secret wallet by entering the right pin code that's different to setting temporary set temporary means that once we go through this process and we detach the device you will not be able to access your secret wallet unless you enter your 25th word your secret

password right so it's not going to store that 25th word on this device and some people prefer to do that so what you're gaining is a little bit of security but what you're losing is a little bit of convenience because you're going to have to enter that word every

time you want to see that secret wallet now just for this demonstration I'm going to show you attached to pin because it's a little bit more convenient but the process is the same so we're going to click attach to pin there we go and now it's going to ask me

choose passphrase pin all righty so the PIN code now remember we had 1 2 3 4 to access our main wallet but for this wallet again in the spirit of keeping things simple I'm going to put 5 6 7 8 so it's a completely different pin

code which when entered the next time I unplug this device it will give me access to my secret wallet so I'm going to hit check mark there we go and now it's going to ask me to confirm the passphrase PIN so since we just created

it that's 5 6 7 and 8 there we go now it's going to ask me to enter my passphrase remember what we're actually doing here is we are creating an entirely separate wallet this is not a different account it's a completely different wallet that's again

a derivative of our main wallet the same 24 words plus a 25th so now we can choose what that 25th word will be so let's try that enter passphrase you want to make sure that this word is not something that people can just brute

force meaning it shouldn't be a word that can be found in a dictionary because then it's just a matter of trying every single word before they discover it it should also not be something that can easily be attached to you like your birthday or whatever it is

that people can Google about you and find out so make it something that you're going to remember but something that people can't reverse engineer and just Google about you so for this one I'm just going to keep it simple and I'm going to put Satoshi now that's a name

but I'm going to change it up a little bit and I'm going to add some special characters to it which is something you can do in this case and it's also case sensitive this interface might be a little confusing for you so here's how

you can kind of work around it so it's going to show me AB capital letters so it's going to show me the entire alphabet of capital letters so I'm going to start my Satoshi with a capital S so there we go then I'm going to navigate

towards S there we go so they're found S and now to get back where I want to go I'm going to navigate all the way to the right until I see lowercase ab and from here on I don't just want to enter a lowercase a I'm going to do

something a little different I'm going to enter a symbol so a special character where it says question mark and zero I'm going to double tap that now it's going to show you all the digits I'm going to scroll through and you can see there's

the letter N there's the forward slash and question mark and semicolons we're going to go past all of that until we find at like your email that's going to be my a it's a special character there we go now we're going to go back out of

that back back into the normal lowercase letters and I'm going to type out the rest of it there we go AB click that and I'm going to do the rest Toshi as you would spell it Satoshi so there we go let's find the

T then I will find the O there we go so Toshi i h and I Satoshi there we go and now I'm going to navigate all the way to the right until I see a check mark I'm going to double press there we go now it's

going to ask me to confirm the passphrase right so make sure that I entered it the right way so you can see capital S at Toshi right so double tap confirm current pin okay so confirm with current pin let's do that so my current pin is 1 2 3 4

1 2 3 and 4 that's my main wallet pin that's what it's asking not the new one we just set up the first one we set up check mark processing and now passphrase set there we go so now we have a secret

wallet now at this point in time because we technically have a new wallet we must also set up those new accounts if you want to learn how to do that I have a link down below in the description of this video with over 4 hours of training

that shows you how for multiple devices use coupon code Andre 40 to get 40% off another mistake I've seen is people falling for a phishing scam you wake up one day and you get an email or a password breach of some sort that your

credentials were stolen you have to log in and enter your information so you can change your password and recover your money this tactic was so common during the bankruptcy recoveries that the crypto companies had to start mailing physical checks to people instead of sending them digitally for fear that the

people they were sending the money to were compromised so instead add two-factor authentication to all of your devices and I know it sounds silly and you probably already do this but I didn't do this and I fell victim to this attack and my ex account was hacked for

an entire year once you set up 2FA instead of using your phone number, please use another app like Google Authenticator. If you do use your phone number for 2FA, I want you to send in an email, don't just call, email your phone service provider immediately and let

them know that any changes or attempts to recover your SIM card must be approved by you in person because true story, someone I once knew, Michael Turpin, had 1,500 Bitcoins stolen because an AT&T employee was bribed and compromised, and he sued AT&T for $24 million and won the

lawsuit. But most of us probably don't have his resources to go after a major telecom company, so just send out that email for extra protection and at least have some paper trail that you can prove you requested it for legal reasons. I want to show you how I personally think

about security, and a big part of it again is based on deception. Those stories I told you about in the beginning, so after you set up your devices and you set it up properly by creating that secret wallet and transferring most of your money to that

hidden wallet, where you keep some of the money in the primary wallet as a duress wallet or a duress PIN code for plausible deniability, and you hid those accounts and you deleted them from Ledger Live so that they don't show up, you set up your 2FAs and you've done all

that, here are some cool ideas on hiding spots from my training guide that you can check out in the description down below. This is my favorite one. See if you've ever seen one of these devices. This is really, really cool, and again I'm sure I will include all of

these items in a PDF where you can check them out. They have one and they have a dual socket hidden installation. This goes inside of your walls and what's really cool is that this little socket is held together with a magnet that you take apart and here you will actually

find a door that you will unlock with a key and once you open it up you can actually put some contents inside of here like your seed phrase that you can tape behind it with black electrical tape. If you really want to be extra safe you can even put your hardware wallet

inside of there as well and if you're extra paranoid once you've screwed that into your wall this magnet attaches there you can even super glue or hot glue around the edges so that this little cover is not going to go anywhere. Now let's talk about some extreme cases

and you might be thinking, Andre, no one's going to target me and my 0.1 Bitcoins, but you'd be surprised. Ransomware attacks have spiked over several 100% in the past few years and while they do tend to target bigger corporations, individual people are not off the hook.

And yes, the lightsaber attack I mentioned, aka the wrench attack, someone physically threatening you to give up your seed phrase is real. That's why you have that duress pin code which gives you that plausible deniability. You can have some money on it, but most of your

money can be on a completely separate wallet like that 25th passphrase secret wallet. And finally, it's really important, important to practice recovering your Bitcoin. What happens if someone steals both your seed phrase and your hardware wallet, and worse, they do it while you're traveling? You don't have time to travel

halfway across the world to get it all back. So what do you do? You need to download a software wallet and access your wallet before the thieves do. And there is a way to do that. Those are just some of the lessons that I've put together down below across 40 separate

training videos spanning 4 and 1/2 hours. You can find all the information that I teach in this course for free, but personally I've always had a hard time putting all the information together in context. Like, what happens if I don't

have my wallet or my seed phrase? And what if I'm traveling? Which thing is that right? And if you want to direct an easy way to learn from videos that are not littered with ads or sponsors, you can find the link down below right here in the description and you can use

coupon code Andre40 to get an additional 40% off. And I'll be running that coupon as long as I'm updating the course with new information. So thank you so much for watching this video. As always, I hope you have a wonderful rest of your day. Smash the like button,

subscribe if you haven't already. I'd love to see you back here next week. I'll see you soon. Bye-bye.

How to Protect Your Bitcoin Before It's Too Late (Essential Security Tips)

I will NEVER contact you for business or promotions (even if it comes from my legit email). I will not use IG, Telegram, or whatsapp to reach out - please ignore and report those accounts. 

I'm like Harry Potter - if he was a financial minimalist, did card tricks and worried about money. Biz inquiries: andrei@majikh.com


Andrei Jikh

Introduction: Bitcoin Security and Historical Analogies

Bitcoin's potential future value and the need for security measures are introduced.

The "Ghost Army" deception tactic from WWII is used as an analogy for security through misdirection.

Robert Houdin's magic trick with the light and heavy chest illustrates the power of deception in security.

The core concept of security magic is deception, convincing others to look in the wrong place.

Misdirection in security is highlighted, using the example of physical attacks.

Common Bitcoin Security Threats and Best Practices

The video focuses on common attacks and security practices to prevent Bitcoin loss.

The risks of covered call options on Bitcoin ETFs are explained.

Keeping Bitcoin on exchanges for extended periods is discouraged due to risks of exchange failure or hacking.

The lack of FDIC or SIPC protection for crypto assets on exchanges is emphasized.

The importance of self-custody and choosing reputable hardware wallets is stressed.

Hardware Wallet Security and Seed Phrase Management

Buying hardware wallets directly from the manufacturer is recommended.

The risks of storing seed phrases on phones or password managers are highlighted.

The dangers of typing seed phrases into internet-connected computers are explained.

Keeping seed phrases in home safes is discouraged due to vulnerability to theft.

Alternative, more secure methods of storing seed phrases are suggested (metal sheets, Crypto Tag).

Advanced Security Measures: Secret Wallets and Passphrases

The risks of splitting seed phrases into multiple parts are explained.

Setting up a secret wallet using a 25th passphrase is recommended for enhanced security.

The process of setting up a secret wallet is explained.

The functionality and security benefits of the secret wallet are reiterated.

A step-by-step guide on setting up the secret wallet on a Ledger device is provided.

The importance of two-factor authentication (2FA) and using an authenticator app is emphasized.

The risks of using phone numbers for 2FA are discussed, along with a real-life example of a SIM swap attack.

Additional hiding spots for seed phrases are mentioned.

A specific example of a hidden installation device for storing seed phrases is shown.

The importance of duress PIN codes and recovering Bitcoin in emergency situations is highlighted.

A link to a comprehensive training course on Bitcoin security is provided.

How to Protect Your Bitcoin Before It's Too Late (Essential Security Tips)

How to Protect Your Bitcoin Before It's Too Late (Essential Security Tips)

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