Bitcoin Core as main wallet - page 2.

o_e_l_e_o

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Quote from: yhiaali3 on July 11, 2023, 04:13:16 AM

Bitcoin Core is a completely secure wallet

There is no such thing as a completely secure wallet. Some are more secure than others, but every wallet in existence (and indeed, every electronic device) has possible attack vectors.

I would also point out that Bitcoin Core is not a particularly secure wallet when used as a hot wallet. It is like any other hot wallet - it is only secure as the machine which is running it. If it is being ran on a machine which is used daily to browse the internet, download files, stream media, etc., then it is in a very risky environment and could easily be exposed to malware.

Running a node is necessary for the security of being able to independently verify all the blockchain data, but it is not sufficient to protect your coins. For any significant amount of coins then you ideally want them on an airgapped wallet, with a watch only wallet linked to your copy of Bitcoin Core.

yhiaali3

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Bitcoin Core is a completely secure wallet that has all the required specifications, especially privacy, but its main problem is the large amount of space it needs on the device that you want to install it on.

Especially for some people with poor internet connection it will be difficult for them to download this huge amount of data, while there are many safe alternatives.

In any case, every wallet has advantages and disadvantages. Even hardware wallets, which are considered the most secure types of wallets, have recently been shown to have many disadvantages. Therefore, the Bitcoin wallet remains a personal choice and each person is responsible for choosing the wallet that best suits his needs.

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Quote from: Findingnemo on July 10, 2023, 08:53:53 PM

SPV wallets such as Electrum rely on trusted full nodes to verify transactions

There is nothing trusted about third party Electrum servers. Anyone at all can spin up a server and open it up to the public. It is almost certain that many such servers belong to blockchain analysis companies which are using them to link addresses together, link wallets to IP addresses, and de-anonymize users as much as possible. You have to trust the servers you connect to not to feed you incorrect data, but I wouldn't say the servers are "trusted".

The only really safe way to run Electrum is by connecting it to your own server attached to your own node.

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Quote from: GR Sasa on July 08, 2023, 04:54:21 AM

Thanks for answers together,

I have Bitcoin Core installed on Windows 11.

I mostly run it with a node, running internet.

And no, i don't have big amount of Bitcoins, but i prefer using Bitcoin Core, because its been popular wallet since 2010

If you wish then you can but its not really necessary and recommended when you don't have much amount or not really expect the utmost privacy. SPV wallets such as Electrum rely on trusted full nodes to verify transactions and only store block headers, transaction history, and the user's private keys.

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Quote from: RickDeckard on July 08, 2023, 09:05:15 AM

...

I just want to add to what you have said that although only the most recent blocks (the number of blocks dépend on the node'd configuration) wilm be stored on your hard drive when running a pruned node, you still need to download all the bocks from the genesis block till the most recent one when you run bitcoin core for the first time.

RickDeckard

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Quote from: ?? on ??

It's no longer most popular wallet though since you need download 500GB+ of blockchain data. Although i expect it always get update as long as Bitcoin is alive.

For anyone wondering that may be unaware: Running the node pruned[1] is always an option though - it decreases the size of the blockchain considerably. The downside of this is that, as the name implies, you won't be holding a complete copy of the blockchain and you won't be able to scan older addresses.

[1]https://bitcoin.org/en/full-node#configuration-tuning

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Quote from: GR Sasa on July 07, 2023, 05:09:36 PM

I mainly use Bitcoin Core for sending and receiving Bitcoins.

Is it bad idea to use Bitcoin Core for the main wallet?

Not at all. Bitcoin Core is the wallet which is closely integrated with bitcoin node and the use of it is good for your privacy as there is no need to communicate with third party servers to get wallet balance or send transaction, your node does those things itself. Moreover, if you have 8333 port open your node extends a little bit the bandwidth of bitcoin network thus reducing the network latency.

GR Sasa

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Thanks for answers together,

I have Bitcoin Core installed on Windows 11.

I mostly run it with a node, running internet.

And no, i don't have big amount of Bitcoins, but i prefer using Bitcoin Core, because its been popular wallet since 2010

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Other non-custodial wallets exist. I don't use Bitcoin Core as my 'main' wallet simply because of the bad UX. Take note that some non-custodial wallets allows connecting to your Bitcoin Core full node.

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As your main wallet? With huge amount of bitcoin? If you can not run Bitcoin Core offline, do not use it as your main wallet. If you run it online, your wallet is vulnerable to malware.

Bitcoin Core is a privacy wallet, if using it with Tor.

If it is security, you need a cold wallet. For privacy, you need full node wallet like Bitcoin Core.

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Quote from: GR Sasa on July 07, 2023, 05:09:36 PM

Is it bad idea to use Bitcoin Core for the main wallet?

Not a bad idea but the security and protection of your wallet always depend on us how you protect your device from any attack or how secured your device is.

A device without protection and not secured is still vulnerable to any attacks unless you installed it on Ubuntu OS or run it offline.

Do you have a full node? On what OS you installed Bitcoin Core?

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Quote from: GR Sasa on July 07, 2023, 05:09:36 PM

Is it bad idea to use Bitcoin Core for the main wallet? I don't trust any online exchanges, that require my private keys.

Not at all.
With using bitcoin core, you have full control over your fund and as you run you own node, you can protect your privacy. You can also help the network with validating transactions.
But take note that even if you don't use bitcoin core, there are still many wallets that give you full control over your fund and you don't have to keep your bitcoin on exchanges.

GR Sasa

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I mainly use Bitcoin Core for sending and receiving Bitcoins.

Is it bad idea to use Bitcoin Core for the main wallet? I don't trust any online exchanges, that require my private keys.

Thanks,

Topic: Bitcoin Core as main wallet - page 2. (Read 431 times)