Best BTC wallets? Learning the basics

Myfe

sr. member

Activity: 476

Merit: 255

Hi. I'm happy to elaborate...just sent you a personal message. If anyone else has questions, please feel free to send me a personal message.

Quote from: Nachalnik on March 13, 2017, 11:57:10 AM

Quote from: Myfe on March 13, 2017, 11:32:52 AM

One last thing, there is one "wallet" that's paying interest on deposits. I put wallet in quotes because it actually started as a bitcoin faucet, so no one thinks of it as a wallet. But you can deposit your coins to this faucet and they will pay interest on your balance, daily. The interest is at 4% annually...so better than what's available in the fiat world. PM me if you want more details.

Thanks for the link

I'm not sure what a faucet is though, elaborate?

NH

sr. member

Activity: 422

Merit: 250

if you using android, you can use mycellium..
This wallet is pretty good

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: Nachalnik on March 13, 2017, 05:44:25 AM

I'm looking to buy some bitcoin but don't know much about wallets and how they're used.

Any tips or links on where I can read up on it?

I use android and windows if it matters at all. What is the friendliest and most secure wallets available out there right now?

Thanks

You can use web or desktop wallets. If you are looking web wallet which can available in Google playstore means you can blockchain.info, coinbase.com or spectrocoin.com
If you looking to have a desktop wallet for windows start with electrum wallet or multibit. both have a good features such private key sweeping, multiple wallets under one email address and some more.

Nachalnik

newbie

Activity: 14

Merit: 0

Quote from: Myfe on March 13, 2017, 11:32:52 AM

There are a lot of different types of a wallets, each different type offers different benefits and drawbacks. So to ask which one is the "best" won't get you a good answer. There's hardly such thing a single "best" wallet. It depends on balance size, your use for bitcoin, your interest in level of management of your wallets (do you want to be your own bank), and your personal threshold for security.

Instead of asking us here, check out this site to help you choose your wallet: https://bitcoin.org/en/choose-your-wallet

There's more information out there on each, but this will help you narrow down the choices from the universe of options.

One last thing, there is one "wallet" that's paying interest on deposits. I put wallet in quotes because it actually started as a bitcoin faucet, so no one thinks of it as a wallet. But you can deposit your coins to this faucet and they will pay interest on your balance, daily. The interest is at 4% annually...so better than what's available in the fiat world. PM me if you want more details.

Thanks for the link

I'm not sure what a faucet is though, elaborate?

Mikellev

sr. member

Activity: 308

Merit: 250

Quote from: kuckong on March 13, 2017, 10:48:49 AM

i use coinbase & Blockchain, this 2 very recomended for me

I had used both of them and currently using coinbase and i would suggest coinbase over blockchain any-day because coinbase is much more user friendly when compared to blockchain or any other wallets and secure as well at the same time but there is nothing against blockchain but you need to make sure you never forget your password in blockchain or else it almost equal to impossible for retrieving the password in blockchain but coinbase is much more simple you can retrieve the forgotten password through the email address registered with the wallet.

Myfe

sr. member

Activity: 476

Merit: 255

There are a lot of different types of a wallets, each different type offers different benefits and drawbacks. So to ask which one is the "best" won't get you a good answer. There's hardly such thing a single "best" wallet. It depends on balance size, your use for bitcoin, your interest in level of management of your wallets (do you want to be your own bank), and your personal threshold for security.

Instead of asking us here, check out this site to help you choose your wallet: https://bitcoin.org/en/choose-your-wallet

There's more information out there on each, but this will help you narrow down the choices from the universe of options.

One last thing, there is one "wallet" that's paying interest on deposits. I put wallet in quotes because it actually started as a bitcoin faucet, so no one thinks of it as a wallet. But you can deposit your coins to this faucet and they will pay interest on your balance, daily. The interest is at 4% annually...so better than what's available in the fiat world. PM me if you want more details.

kuckong

member

Activity: 184

Merit: 10

Token That Will Transform The Venture Capital Mark

i use coinbase & Blockchain, this 2 very recomended for me

Nachalnik

newbie

Activity: 14

Merit: 0

Quote from: kolloh on March 13, 2017, 09:02:59 AM

I definitely recommend using the Electrum wallet. Ever since Blockchain.info changed their UI, I haven't been a fan. If you want a simplistic wallet, it will work, but if you want more complete control I definitely recommend something like Electrum. With Electrum, you can control which addresses you send funds from and it has better fee estimation with the Dynamic Fees feature which is now enabled by default in new versions.

Yes, It will probably be the one I am going to use... just doing a bit more research to understand how the keys and trading works in general before I start buying or selling any coins. I don't want to make any noob mistakes xD

Thanks )

kolloh

legendary

Activity: 1736

Merit: 1023

I definitely recommend using the Electrum wallet. Ever since Blockchain.info changed their UI, I haven't been a fan. If you want a simplistic wallet, it will work, but if you want more complete control I definitely recommend something like Electrum. With Electrum, you can control which addresses you send funds from and it has better fee estimation with the Dynamic Fees feature which is now enabled by default in new versions.

greenwall2002

newbie

Activity: 12

Merit: 0

I use blockchain.info. it is fast in received and send bitcoin, almost instant. and the fees is low. I recommend it.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Quote from: Nachalnik on March 13, 2017, 07:21:13 AM

Quote from: OmegaStarScream on March 13, 2017, 07:06:15 AM

Wallets and exchanges are two different things, If you want to store your coins securely then I suggest using Electrum for Windows and Mycelium for Android. These wallets allow receiving and sending clearly so you will be able to deposit into exchanges, do what you have to do and then withdraw later.

There is no wallets that could make change your BTC to USD and keep it there, If you want a wallet that have built-in exchange (for other coins) then Exodus.io would be the best choice.

And i'm guessing that Electrum and Mycelium would be synced? or are they separate accounts?

So if you can't exchange to USD permanently then selling your coins to other people is the only option to get USD? if so, where would be the best place to do so?
I know of a company that will do this in the future but who knows how long it will take to get banks to sign off on it, might be years from now.

Electrum have an android version too, you could use the seed from the Desktop wallet to recover it on the Android (I have never tried that but It should work), a lot of people prefer Mycelium on android because the GUI is much better and It has more features.

I don't know where are you from so I can't give you any services at the moment, but If you have payment methods like PayPal, Skrill, Neteller etc... then I suggest using the "currency exchange" section on the forums and trade with individuals instead of companies.

Nachalnik

newbie

Activity: 14

Merit: 0

Quote from: OmegaStarScream on March 13, 2017, 07:06:15 AM

Wallets and exchanges are two different things, If you want to store your coins securely then I suggest using Electrum for Windows and Mycelium for Android. These wallets allow receiving and sending clearly so you will be able to deposit into exchanges, do what you have to do and then withdraw later.

There is no wallets that could make change your BTC to USD and keep it there, If you want a wallet that have built-in exchange (for other coins) then Exodus.io would be the best choice.

And i'm guessing that Electrum and Mycelium would be synced? or are they separate accounts?

So if you can't exchange to USD permanently then selling your coins to other people is the only option to get USD? if so, where would be the best place to do so?
I know of a company that will do this in the future but who knows how long it will take to get banks to sign off on it, might be years from now.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Wallets and exchanges are two different things, If you want to store your coins securely then I suggest using Electrum for Windows and Mycelium for Android. These wallets allow receiving and sending clearly so you will be able to deposit into exchanges, do what you have to do and then withdraw later.

There is no wallets that could make change your BTC to USD and keep it there, If you want a wallet that have built-in exchange (for other coins) then Exodus.io would be the best choice.

Nachalnik

newbie

Activity: 14

Merit: 0

Quote from: ReLieD on March 13, 2017, 06:32:52 AM

Quote from: Nachalnik on March 13, 2017, 05:44:25 AM

I'm looking to buy some bitcoin but don't know much about wallets and how they're used.

Any tips or links on where I can read up on it?

I use android and windows if it matters at all. What is the friendliest and most secure wallets available out there right now?

Thanks

Firstly let me tell you using online wallets in not recommend as they keep crashing.
By online wallets i mean blockchain.info . Even when I try to make transactions it crashes.

Now using offline wallets like mycelium and electurm is the most recommended.
You can even use electurm as your pc wallet.

I've heard of Electrum, is it able to transfer/exchange between different kinds of coins? or is it able to change to fiat money in any way?

ReLieD

sr. member

Activity: 546

Merit: 255

Quote from: Nachalnik on March 13, 2017, 05:44:25 AM

I'm looking to buy some bitcoin but don't know much about wallets and how they're used.

Any tips or links on where I can read up on it?

I use android and windows if it matters at all. What is the friendliest and most secure wallets available out there right now?

Thanks

Firstly let me tell you using online wallets in not recommend as they keep crashing.
By online wallets i mean blockchain.info . Even when I try to make transactions it crashes.

Now using offline wallets like mycelium and electurm is the most recommended.
You can even use electurm as your pc wallet.

Nachalnik

newbie

Activity: 14

Merit: 0

I'm looking to buy some bitcoin but don't know much about wallets and how they're used.

Any tips or links on where I can read up on it?

I use android and windows if it matters at all. What is the friendliest and most secure wallets available out there right now?

Thanks

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