Best wallet | Bitcointalksearch.org

dkbit98

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Quote from: Tfolger on March 07, 2021, 06:45:39 AM

Who has the best wallet and why? Secure, trusting,easy to use etc...

Always go for trusted and tested open source wallets and don't experiment with web wallets and exchanges for keeping your coins.
There are free options for desktop and mobile wallets and you can also buy hardware wallets like trezor or coldcard if you want offline cold wallet.
This are some of good open source wallets:

Desktop wallets:
-----------------------
Electrum is the standard for Bitcoin wallets.
Wasabi is good for privacy.

Mobile wallets:
----------------------
BlueWallet is very easy to use.
Electrum is a good choice.
Samourai is good for privacy on mobile.

crazy_cat_lady

newbie

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I've installed BlueWallet on my Android smartphone. This is the first experience I've had with Lightning payments and they've made it very easy to use for novice.

joniboini

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Quote from: dihari on March 08, 2021, 12:54:45 AM

And from my recommendation, I suggest you to use trust wallet. You choose.

For a closed-source wallet, it is fine, but I won't recommend it as your main wallet. It lacks several features, you need to trust without being able to verify the code, etc. If you need a wallet that supports multiple chains for small transactions, it is fine imo, but if you want the best security, features, privacy, etc, there are better alternatives out there.

Oshosondy

legendary

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Quote from: SquirrelJulietGarden on March 07, 2021, 12:13:46 PM

You made newbies fear of bitcoin and bitcoin wallet when you shown your knowledge and get them lost with many features and many things to consider for a wallet.

There is nothing like ease about wallets, easy wallets like close source and/or custodial should not be used, there is nothing hard to learn, if newbies can not learn about wallet, he should not use wallet, anything can happen while using wallet, a reason for newbies to be well acquainted about wallets before using one.

Quote from: bL4nkcode on March 07, 2021, 09:45:57 PM

Depends on what a person prefer, I might say best wallet is the one convenient and easy to use ofc a secure too while other will say different.

Newbies must follow standards, they can end up losing their coins, there are many wallets that are easy today to use, but the more the ease the more they are introducing ways future wallet will not be good as manipution will continue. Wallets should be open source and noncustodial, all others are not recommended in any way, nothing like ease in using wallet, there are standards to follow.

dihari

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Quote from: Tfolger on March 07, 2021, 06:45:39 AM

Who has the best wallet and why? Secure, trusting,easy to use etc...

If you are new to this crypto universe and want to secure your first bitcoin, I recommend you to use an easy-to-use mobile wallet. Assuming you are live with 12h/day smartphone inside your pocket. There's lot of trusted and secure mobile wallet that easy to operate even for a beginner. This is recommendations from a website you can trust https://bitcoin.org/en/wallets/mobile/android?step=5&platform=android&user=beginner
And from my recommendation, I suggest you to use trust wallet. You choose.

Peanutswar

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All of the given answers are approved with the electron well I recommend this wallet too I've been using this for a year and terms of problem or issues, for now, I've never been experienced also one good thing is always make sure you keep your seed base on my experience I lost my hard drive but I stored my seed phrase and then I access my wallet through the use of their mobile version.

The seed phrase is more important than your password.

ShowOff

legendary

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Quote from: The Cryptovator on March 07, 2021, 11:16:55 AM

Just spend a few days on the forum and use the search button, so you would get a few existing answers from the forum related to your questions.

Not an easy task for someone who's really lazy about reading, I guess. So asking is the easiest way to get an answer before getting confused by several different answers. Wink

Quote from: The Cryptovator on March 07, 2021, 11:16:55 AM

It's quite hard to select a perfect wallet at the beginning.

True, but at least they would be of great helped if they wanted to read the pinned thread about the wallet.
Ultimately all the best decision must fit the desired need. I believe that a hardware wallet is best for storage. But for android in my opinion Electrum is the recommended one.

bL4nkcode

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Limited in number. Limitless in potential.

Depends on what a person prefer, I might say best wallet is the one convenient and easy to use ofc a secure too while other will say different.

There's a secured mobile wallet, as almost everyone has smartphone (mycelium wallet) - people might say it didn't, coz phone can be stolen, well its the same for hardware wallets and paper wallets, disregards on how it was stolen.

Some say desktop wallet such electrum, only if you have a computer/laptop. This kind of wallet isn't a newbie-friendly though it can be learned.

Most say hardware wallet(trezor/ledger), but most newbies are skeptical how it can be used, why it still be bought first, why it still need to use a computer or a smartphone when theres a desktop and mobile wallets already and only some have it.

Most will not recommend a web wallet since its easy to hack, but most people here has web wallet or have tried web wallet since its convenient and easy to access whatever device you're using.

So its a matter of what you have, what you can buy, and what you can risk.

SquirrelJulietGarden

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Activity: 1442

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Some sheet and table to choose best wallets

- Veriphi.io's sheet (I take the sheet from this article on Veriphi.io blog. More analysis report)
- Cryptowisser.com's reviews for wallets (I have no idea how votes on this website is checked its legitimacy and accepted to count for vote results. When you look at the vote result, and assume votes' legitimacy is good, let's pay your attention on size of total votes. If the size is small, vote results can not be true. Bigger size is better).

sheenshane

legendary

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Quote from: Charles-Tim on March 07, 2021, 08:55:17 AM

Best wallet should be:

1. Open source
2. Noncustodial
3. Support replace-by-fee
4. Able to spend unconfirmed input
5. Able to make use of child-pay-for-parent using change address UTXO
6. Able to make use of coin control
7. Able to freeze certain addresses, especially against dust attack
8. Able to free certain coins, especially against dust attack
9. Able to generate entropy, send phrase, private keys, public keys and addresses securely and safely
10 Support 2fa, if need be
11. Support multisig, if need be
12. Support nested segwit and native segwit addresses to minimize transaction fees, not only legacy addresses
13. Should have multi-wallet function
14. Should have excellent fee estimating algorithm

I tend to agree with all of these and Electrum wallet is the answer.

Additionally, there's one feature that you forgot to mention. A Bitcoin wallet that supports Lightning Network, this feature belongs to and considered the best wallet. IMO, the most important feature is open-source and it supported with replace-by-fee.

I recommend always separate your Bitcoin from altcoins wallet. Because a wallet that focussed on one currency like Bitcoin has a strong security level and you will surely be secured. Storing a big amount of cold storage like a hardware wallet is the best option.

lozovenkop

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It depends on which cryptocurrency you want to store. You can take a closer look at the multi-currency wallet Trust Wallet.
But i would advise you to start using Electrum, and then buy a cold Ledger wallet.

Oshosondy

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Quote from: The Cryptovator on March 07, 2021, 11:16:55 AM

However, I will suggest buying a hardware wallet if you can afford it. Otherwise, Electrum is the best option for you. But you can't use it for storing multi coins. But on a hardware wallet, you can store multi coins securely. So choose according to your needs. Keep in mind, wallets aren't secure unless you can secure wallet credentials.

I will advice hardware wallet to be used too, especially for cold storage in a way private key not connected online but offline. One other thing I like about hardware wallets is the number of cryptocurrencies recommended ones are supporting, like the trezor and ledger nano that support thousands of cryptocurrencies. But hardware wallets can be open source and close source too, I will prefer the open source ones like trezor.

SquirrelJulietGarden

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Quote from: Charles-Tim on March 07, 2021, 08:55:17 AM

Best wallet should be:

1. Open source
2. Noncustodial
3. Support replace-by-fee
4. Able to spend unconfirmed input
5. Able to make use of child-pay-for-parent using change address UTXO
6. Able to make use of coin control
7. Able to freeze certain addresses, especially against dust attack
8. Able to free certain coins, especially against dust attack
9. Able to generate entropy, send phrase, private keys, public keys and addresses securely and safely
10 Support 2fa, if need be
11. Support multisig, if need be
12. Support nested segwit and native segwit addresses to minimize transaction fees, not only legacy addresses
13. Should have multi-wallet function
14. Should have excellent fee estimating algorithm

With all these characteristics, Electrum fit to be the best wallet, while Bitcoin Core is the best for privacy but being a full client wallet. For multi-currency, most are close source, but very important to go for open source noncustodial ones also.

You made newbies fear of bitcoin and bitcoin wallet when you shown your knowledge and get them lost with many features and many things to consider for a wallet.

Quote from: Charles-Tim on March 07, 2021, 09:49:58 AM

Wasabi is the third that comes to my mind, but due to some certain reasons, I can not recommend Wasabi for newbies. Even for privacy, it should be one of the most recommended wallets as it coinjoin multiple transactions and make tracking difficult and nearly impossible, but there are cases bitcoin users will send money to exchanges using Wasabi wallet and the bitcoin frozen by the exchange, experts are aware of these and the reason they make use of Wasabi successful without facing any problem. Due to this, I will suggest electrum, there are ways to make use of electrum with you still have high privacy, like the coin control, coin freezing and address freezing, but due to it connecting to central server decreases the privacy, but out of the SPV wallets, electrum is the bitcoin best but not disputing Wasabi offer most privacy, even than electrum.

Wasabi gives people more privacy with Coin Join transactions but this wallet is not hard to use. People can use Coin join or don't use it.

The restriction is the minimum of BTC to be queued for Coin Join. This min is about 0.1 BTC.

The Cryptovator

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Just spend a few days on the forum and use the search button, so you would get a few existing answers from the forum related to your questions. It's quite hard to select a perfect wallet at the beginning. Even a few people think web wallets are bitcoin wallets especially those who are newbies. However, I will suggest buying a hardware wallet if you can afford it. Otherwise, Electrum is the best option for you. But you can't use it for storing multi coins. But on a hardware wallet, you can store multi coins securely. So choose according to your needs. Keep in mind, wallets aren't secure unless you can secure wallet credentials.

Charles-Tim

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Quote from: SquirrelJulietGarden on March 07, 2021, 09:38:54 AM

Wasabi wallet have those characteristics and it is better to protect privacy for your transactions. Bitcoin Core full node needs 400 GB to install, download the full blockchain. Electrum is not good for your privacy.

Each person has different purpose to use a bitcoin wallet and best is defined by what that person want from a bitcoin wallet.

Wasabi is the third that comes to my mind, but due to some certain reasons, I can not recommend Wasabi for newbies. Even for privacy, it should be one of the most recommended wallets as it coinjoin multiple transactions and make tracking difficult and nearly impossible, but there are cases bitcoin users will send money to exchanges using Wasabi wallet and the bitcoin frozen by the exchange, experts are aware of these and the reason they make use of Wasabi successful without facing any problem. Due to this, I will suggest electrum, there are ways to make use of electrum with you still have high privacy, like the coin control, coin freezing and address freezing, but due to it connecting to central server decreases the privacy, but out of the SPV wallets, electrum is the bitcoin best but not disputing Wasabi offer most privacy, even than electrum.

SquirrelJulietGarden

hero member

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Quote from: Charles-Tim on March 07, 2021, 08:55:17 AM

With all these characteristics, Electrum fit to be the best wallet, while Bitcoin Core is the best for privacy but being a full client wallet.

Wasabi wallet have those characteristics and it is better to protect privacy for your transactions. Bitcoin Core full node needs 400 GB to install, download the full blockchain. Electrum is not good for your privacy.

Each person has different purpose to use a bitcoin wallet and best is defined by what that person want from a bitcoin wallet.

Lucius

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The best crypto wallet is the one that gives you complete control over your private keys, is completely open source and has regular updates that fix all bugs and bring new features. The question is just what do you need, only BTC wallet or multi currency wallet?

Also keep in mind that the best crypto wallet in the wrong hands is worth nothing - if you don't understand what you're doing it's only a matter of time before you make a cardinal mistake. Being your own bank means you have to learn some basic things first. Crypto wallet is just a tool - people are the ones who use it.

Charles-Tim

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Best wallet should be:

1. Open source
2. Noncustodial
3. Support replace-by-fee
4. Able to spend unconfirmed input
5. Able to make use of child-pay-for-parent using change address UTXO
6. Able to make use of coin control
7. Able to freeze certain addresses, especially against dust attack
8. Able to free certain coins, especially against dust attack
9. Able to generate entropy, send phrase, private keys, public keys and addresses securely and safely
10 Support 2fa, if need be
11. Support multisig, if need be
12. Support nested segwit and native segwit addresses to minimize transaction fees, not only legacy addresses
13. Should have multi-wallet function
14. Should have excellent fee estimating algorithm

With all these characteristics, Electrum fit to be the best wallet, while Bitcoin Core is the best for privacy but being a full client wallet. For multi-currency, most are close source, but very important to go for open source noncustodial ones also.

Chikito

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Already on pinned message. don't be lazy to read a top page before creating a question.

pakhitheboss

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What kind of wallet are you looking for?

If it's a mobile wallet then I would recommend you Mycelium wallet, which is Bitcoin only wallet.

If you want to use desktop wallet then Electrum Bitcoin wallet is the best.

Above all for safety hardware wallet is the best.

NeuroticFish

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Quote from: Tfolger on March 07, 2021, 06:45:39 AM

Who has the best wallet and why? Secure, trusting,easy to use etc...

The most trusted wallet is the official wallet. Bitcoin Core. Just it needs bandwidth, 350+GB of disk space (if not pruned) and time for the initial download.
Electrum is one of the SPV (simple payment verification) wallets which synchronized in seconds and has a lot of features. You'll have to make sure you download if from Electrum.org and verify it.
In order to minimize the chances to get your funds stolen, a hardware wallet can also be used.

Keep in mind that a wallet doesn't hold your coins, it's only a tool that allows you spend them. You have to keep safe the seed, private key and wallet file since else anybody else can spend your funds.

I use a hardware wallet together with Electrum on desktop and together with Mycelium on Android.

jackg

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https://bit.ly/387FXHi lightning theory

Are you alright with security? Eg not forgetting passwords (writing them down is fine).

If so I'd suggest a wallet like electrum which means you control your coins fully.

If not you could go with a web exchange who may be able to handle your funds for you and offer added peace of mind for recovering your account if you're likely to lose your wallet mnemonic (electrum).

Bitcoin core is another option if you want to contribute to network propagation and reduce the amount of trust you have to put on others.
Web wallets are generally not a good idea (like blockchain.com) as they can be prone to more attacks - if you do use an exchange or Web wallet you might want to install a different browser on your computer for accessing it and not install plugins on that.

Also there's hardware wallets if you're storing large amounts of funds >$500 as they're considered to be more secure (normally encrypt able with a password and a pin).

Tfolger

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Who has the best wallet and why? Secure, trusting,easy to use etc...

Topic: Best wallet (Read 335 times)