Topic: As a beginner, which wallet is best for you? (Read 355 times)

The main security is trying to use the wallet which you feel secure to keep your funds. I personally used the hardware wallets like Ledger Nano s which is more secure and there is no chance of exposing the private key. So take your time but choose the best wallet because it is the main key where your all earnings will be there.

For sure that would be one of the best for us to do since if we know how reliable the wallet thru numerous feedback given by it's user for sure we can see that the wallet suggested is good and also we should inspect carefully before we go thru since at the end of the day we are the one who's using it.

But we should keep in our mind that safety and convenience is truly good for us so we should go to the best among the rest.

It's always a relevant detail choosing the right wallet. I searched tutorials, review and guides. My main question was about HW wallets VS virtual wallets. I started with virtual wallet also after that I found many positive feedbacks and reviews about virtual wallet, maybe better for beginners. There're many websites where you can see opinions, reviews or feedbacks regarding the best wallet, like how to Get a Bitcoin Address in few Seconds where I found also a good tutorial about how to get a bitcoin wallet in few seconds.

jseverson hit the nail on the head, but just to add to the point you made about 2FA.

Firstly, 2FA comes in many shapes and forms, is not 100% secure. 2FA using a physical hardware device is great, and can only be compromised if someone steals your device. An authenticator app on your phone is almost as good, and would need either stealing your phone or some very good malware to be able to get your codes. However, many people use email or text messages as their 2FA. Both of these are very poor in terms of security. Most people who use email use the same email address as their wallet is registered under, meaning if someone hacks your email then they can reset your password and access your 2FA, therefore it isn't 2FA at all. Text messages can be intercepted since they are non-encrypted, and phone numbers can be transferred with minimal amounts of social engineering.

Furthermore, all 2FA protects you against is someone accessing your account from the usual login screen. It doesn't protect against the exchange or web wallet being hacked, shutting down, system failure, ceasing operations in your jurisdiction, freezing your account, scamming you, locking your coins until you complete invasive KYC, and the list goes on. The only way to protect yourself against all these things is to get your coins off the exchange or web wallet and hold them yourself.

Let's assume that I'm a beginner in crypto and I'm looking for a wallet. The first thing I would consider is if it's preferred by most of users, meaning its rating should be high in order for me to choose that wallet. The second thing I would consider of course is if it's convenient for me; it should be easy to use and always available regardless of what device I'm using. For the last thing, I would consider its transaction fee. We all know that each wallet has its own value added transaction fee and we don't want to pay too much for that service.

Saw that also and actually I feel not safe on storing on those wallet that's why I prefer exodus wallet since we can hold our keys and that is so hard to get by any scammers. But if people prefer to hold huge amount much better if they used a hardware wallet since it's more safer than any online wallets out here.

I'm glad you haven't faced any issues thus far, but the problem with blockchain.com and Coinbase isn't about the user experience they provide, it's that they're custodial. Case in point, look at how blockchain.com's wallet works:


They keep a copy of your wallet for you in their servers, and you have no idea how secure it really is, and nor can you verify that they're doing what they claim to be doing -- you basically have to trust them completely. Coinbase is even worse in that it keeps your coins for you completely, and they have a history of closing accounts without prior warning. It's also worth noting that most of these services won't even help you if you lose your coins, even in cases where they're the ones who caused the loss in the first place.

That being said, non-custodial wallets are objectively better because they grant you complete control over your own coins, and you don't have to worry about the custodial service being attacked. All you're really doing by involving third parties in keeping your coins is increasing attack vectors and potentially compromising your anonymity.

I beg to differ, I have used blockchain online wallet as well as coinbase to store Bitcoin and Ethereum but I have not faced any sort of issue till now, I believe it's upto us about how we secure of keys and password because also most of the online wallets have 2FA nowadays to avoid any sort of hacking or unauthorized usage. this is just my experience but as you suggested some user might have faced issue but if we get to know the specific issue then it will be helpful in this case.

I don’t think blockchain online wallet is good.I saw many people faced problem in blockchain. If you search,you will see thath their history is not good.if you holding big amout of money then you should change your wallet.

As much as I agree, beginners may just be testing the waters and only hold a few bucks worth of coins. Unless they're sure they want to grow their holdings in the future, it may not be practical to buy a hardware wallet immediately. The relatively lengthy setup compared to other wallets may also turn them off (i.e. first impression of Bitcoin UX will be less than positive).

My personal suggestion is Electrum. Very straightforward to set up, safe enough for small amounts, and perfect for getting a feel on how Bitcoin must be used. To clarify, hardware wallets are better, but they're probably only worth the price once your coins have grown to a certain amount.

Blockchain is enough for me to save Bitcoin, Ethereum and other.
Imtoken to save ERC token from  Airdrop and other Giveaway.

Enjin Wallet -- one of the best wallets, in my opinion. Besides, their coin is constantly growing - this is a good sign for a blockchain project.

Don't forget the malware. New altcoins aren't compatible (at least initially) with any established multi-coin wallet, and so have to produce their own wallet. As you say, these wallets are almost always closed source, and so you have absolutely no idea what code the person/team behind them has put in there. They could be absolutely filled with malware (and often have been, in the past). You run the risk not just of losing all the coins in the wallet you have downloaded, but infecting your entire machine and losing coins from other wallets as well as having your accounts and passwords compromised.

Stick with bitcoin. Use a hardware wallet or Electrum on an airgapped device. Simple.

beginners must stay away from altcoins specifically tokens because the only end result for them is losses. so choosing a wallet that supports these things only makes it worse for them. additionally these types of wallets are always less secure since they are either new, closed source or entirely shady.

The security is the main thing to we have to check out before choosing a wallet. The hardware wallets best and well-secured wallet to store cryptocurrencies. Trezor and Nano Ledger S are best wallets in the market right now. If you can't buy a hardware wallet, you can go with desktop wallets.

If this is a thread for newbies, then a wallet that suggests fees isn’t a demerit. It’s a suggestion, but it’s important to know that these fees are usually overestimated and you can save a few bucks when you learn to set the best fees yourself.


VERY IMPORTANT;
 Check if your Trevor Wallet is genuine
  Check if your new wallet has been tampered with.

Additionally to what oeleo said, a wallet that automatically suggest fees always overestimate them.

If everyone uses such a wallet fees are going to be higher than necessary.
Fees should be determined by the free market.

This is how bitcoin was designed to be used, everyone should choose what fee to use according to their demands.

Again, I'm going to disagree here. An automatic fee selection algorithm such as in a wallet or on various websites is never going to be as accurate as someone who knows what they are doing and how necessary a speedy confirmation is to the transaction they are making. The wallet can suggest a fee if it wants, but the important thing I look for is that it gives me full control to set my own custom fee as desired. I can use the third graph of Mempool Size in MB on https://jochen-hoenicke.de/queue/#1,8h to much more accurately judge an appropriate fee than my wallet would suggest.

If you are holding more than a couple of hundred bucks worth of bitcoin, then it's a no brainer to buy a hardware wallet. A Ledger Nano S can be now be bought new for less than $60. If that's still too much, Ledger always put on a sale during the Black Friday weekend - last year it was 50% off. If they do the same again, you could pick up a Ledger Nano S for only $30.

It should be so using Ledger and Trezor is a good and safe thing, only a few use it even though it's cheap under $ 100, but people prefer free wallets from the internet compared to the hardware I mentioned earlier, free wallets like Trust Wallet are becoming a lot choice because they feel safe and easy to use.

For ERC, i use MEW this is very useful to me.
You can setting fee gas in transaction but there have highrisk like a many phising site. So, you must carefully to check it.