I’m trying to give these my best understanding and I perceive you are talking about the security consciousness of Cryptocurrency especially is bitcoin wallet as many wallet has been proven to be scam. There are many Crypto scam site and application. In as much as I like using easy wallet app I don’t just go to the play store and download any random Crypto app in my device. I go to the extreme to know about the application and I know a couple of Crypto champions I can call and seek for advice from if I’m not sure of the site or application.
The wallet is the only place you can keep all your details and seed safe. Bitcoin is a decentralized currency so it’s extremely important to keep all details in safe wallet.
Topic: Adhere and avoid being scamed !! (Read 211 times)
Apart from that, in my country (not in the US, which is strange but it has happened) I have read that people with Coinbase accounts have been receiving this year a letter from the Revenue Services warning them about the fact they own cryptocurrencies, so they've had to declare them.
If you plan to fill your tax forms it is ok for you, but if you are not sure how to do it because in your country the laws are not clear, or you have very little money in cryptos and you didn't plan to declare for now, be careful with Coinbase.
Not just coinbase, any custodial wallet service that requires one to verify their account by fulfilling KYC/AML policy obligations should be avoided like blockchain wallet because once authorities or tax bodies go knocking on their doors, they will provide all the customer information required right from the time they registered on the platform.If you plan to fill your tax forms it is ok for you, but if you are not sure how to do it because in your country the laws are not clear, or you have very little money in cryptos and you didn't plan to declare for now, be careful with Coinbase.
It's also worth noting that coinbase has a mobile wallet where they claim that one has control of their private keys but It can still be linked to one's main coinbase account thereby compromising one's privacy.
Apart from that, in my country (not in the US, which is strange but it has happened) I have read that people with Coinbase accounts have been receiving this year a letter from the Revenue Services warning them about the fact they own cryptocurrencies, so they've had to declare them.
If you plan to fill your tax forms it is ok for you, but if you are not sure how to do it because in your country the laws are not clear, or you have very little money in cryptos and you didn't plan to declare for now, be careful with Coinbase.
If you plan to fill your tax forms it is ok for you, but if you are not sure how to do it because in your country the laws are not clear, or you have very little money in cryptos and you didn't plan to declare for now, be careful with Coinbase.
The first and foremost thing that every newcomer needs to is to visit the board wallet software within the forum and check which wallet are recommended. Also, avoid downloading wallets software from the Google play store. It is recommended to visit the actual website of the wallet provider and use their download link. As for me, I have two separate wallets for storing my cryptocurrency. I use a wallet exclusively for Bitcoin and another one for multi-cryptocurrency.
The link from thebalance.com you have referred in the OP can mislead newbies. It contains only crap wallets. Maybe there should be more focus into wallet security and use of non custodial wallet over custodial
Resources like
- https://bitcoin.org/ru/choose-your-wallet
- https://walletscrutiny.com/
are good for a beginner.
Resources like
- https://bitcoin.org/ru/choose-your-wallet
- https://walletscrutiny.com/
are good for a beginner.
"not your keys, not your coins"
As simple as this phrase is, it goes on to say a lot about privacy and how people or users of the various available wallets go ahead to getting scammed by the various scam platforms and schemes in existence.Not your keys, not your coin goes on to remind users the importance of privacy in the cryptosphere. It is of extreme importance that your private keys or seed phrase are kept private by ensuring not to long on to phishing platforms or sites with them or giving it up in course of any registration as in that instance, you've introduced a third party in dealing with your wallet and crypto affairs. Hence, you both or all own the keys and share the coin's ownership.
Source.https://www.buybitcoinworldwide.com/wallets/
https://www.thebalance.com/best-bitcoin-wallets-4160642
And do more research before you pick your wallet , scam wallet is really an issue .
https://www.thebalance.com/best-bitcoin-wallets-4160642
And do more research before you pick your wallet , scam wallet is really an issue .
Hihi, and have you researched what those two links you posted are saying?
Let me point out a difference, a little tiny small difference:
1) Thebalance
Quote
Best Bitcoin Wallets of 2020
Coinbase: Best Overall
Coinbase: Best Overall
2) Buybitcoinworldwid
Of course, the link in the article which is a referral link is a clear sign why they've ranked coinbase first, you don't get any income for referring people to electrum.
Not that Coinbase is a scam or a bad wallet technically, but, "not your keys, not your coins"
If you have been really active in this category of the forum, we would have noticed that the issue of scam wallet has been rampant eg. playstore and if it continues it will surely do harm to the name cyrpto ,
I wanted to bring to our notice that they are different kind of wallet and there are different wallet for different system like if you use desktop to store your tokens or coin they are wallets for that ,
iOS device has it preferred wallet
Android device also has it own preferred wallet
Source.https://www.buybitcoinworldwide.com/wallets/
https://www.thebalance.com/best-bitcoin-wallets-4160642
And do more research before you pick your wallet , scam wallet is really an issue .
I wanted to bring to our notice that they are different kind of wallet and there are different wallet for different system like if you use desktop to store your tokens or coin they are wallets for that ,
iOS device has it preferred wallet
Android device also has it own preferred wallet
Source.https://www.buybitcoinworldwide.com/wallets/
https://www.thebalance.com/best-bitcoin-wallets-4160642
And do more research before you pick your wallet , scam wallet is really an issue .
Jump to: