1. The last I used trust wallet, I didn't check the bump fee because the transaction fee was already high so the transaction was very fast.
2. You can use bitcoin to stake if the gambling website is accepting bitcoin. But ordinarily, bitcoin itself can't be used to stake.
3. You ask the best wallet and not wallets so I am also using the singular form. The best wallet for bitcoin is Electrum wallet which answered your first question. You can bump you transaction fee in the Electrum wallet to make it faster to confirm.
Topic: Bitcoin Discuss - page 2. (Read 285 times)
Many people have already answered your questions so here is my version.
1. Wallets do not have something to do with transaction speed instead its the features that a wallet provide. For example in your scenario if you are using Trustwallet to send BTC then the transaction fee will be selected automatically lets say its 2$ but after sometime a person made another transaction and his transaction fee is $5 so the blockchain processing the transaction will make that higher fee transaction a top priority and will put your transaction at the bottom of the list. Which means your transaction will be getting late and late.
So, if you would use a BTC wallet like Electrum Where you could manually increase the transaction fee to increase the priority level of your transaction to make it faster. But the drawback is you have to pay more for your transaction.
2. No, BTC has no staking feature. Why? Because BTC based on Proof of Work (POW) mechanism and for staking purpose the token must be based on Proof Of Staking (POS) mechanism.
3. There are two types of Wallets Custodial and Non Custodial and there are also two forms of wallets Soft (Hot) wallet or Hardware wallets (Cold). For BTC the best is Electrum as it has the RBF (manual fee feature) in Hot wallets and in Cold wallets i prefer you to not to use Ledger other than that you could use Trezor etc.
1. Wallets do not have something to do with transaction speed instead its the features that a wallet provide. For example in your scenario if you are using Trustwallet to send BTC then the transaction fee will be selected automatically lets say its 2$ but after sometime a person made another transaction and his transaction fee is $5 so the blockchain processing the transaction will make that higher fee transaction a top priority and will put your transaction at the bottom of the list. Which means your transaction will be getting late and late.
So, if you would use a BTC wallet like Electrum Where you could manually increase the transaction fee to increase the priority level of your transaction to make it faster. But the drawback is you have to pay more for your transaction.
2. No, BTC has no staking feature. Why? Because BTC based on Proof of Work (POW) mechanism and for staking purpose the token must be based on Proof Of Staking (POS) mechanism.
3. There are two types of Wallets Custodial and Non Custodial and there are also two forms of wallets Soft (Hot) wallet or Hardware wallets (Cold). For BTC the best is Electrum as it has the RBF (manual fee feature) in Hot wallets and in Cold wallets i prefer you to not to use Ledger other than that you could use Trezor etc.
Trust wallet is not a cold storage which is completely decentralized, you may not have the opportunity to adjust your transaction fee with trust wallet.
Cold storage or hot wallets has nothing to do with adjusting your transaction fee, Electrum is also a hot wallet but you can adjust your transaction fee in Electrum, just the way you can do so in trust wallet as shared above by OmegaStarScream. The thing is, trust wallet is closed source, thus it is not a good choice of Bitcoin wallet because their code cannot be verified.
The transaction speed is dependent on the network congestion and what's the fees going on at that time.So if you set it to priority basis like in Mycelium wallet or any other it will be confirmed fast but you can always check what's the average fees going on to set it according to your fees.Most wallets support RBF so that it doesn't remain in memepool and can make changes in fees to confirm it.But in all cases wallets don't have any role in confirming it fast or slow.
Staking platforms as you expect them are scam just setup with lucrative offers so you should avoid them completely.
You have many choices like Electrum which is good choice and non custodial wallet which keeps your keys safe with you.
Staking platforms as you expect them are scam just setup with lucrative offers so you should avoid them completely.
You have many choices like Electrum which is good choice and non custodial wallet which keeps your keys safe with you.
Hardware wallet like Passport or Trezor.
Ledger has lost significant share after their announcement after sharing this news. 1- Is wallet have to do something with transaction speed? i have a trust wallet ( but in another topic that i open, someone says that I can pick a high fee to make it fast but there isn't )
No, but you can use electrum wallet, it support the RBF function whereby you can adjust your transaction fee, pump it to speed up the confirmation time, bit know that you have higher transaction fee rate in doing that except on occassions when the mempool is less busy, you can as well always check mempool.space for more information, you can also use the mining pool to boost up your transaction confirmation time.
Trust wallet is not a cold storage which is completely decentralized, you may not have the opportunity to adjust your transaction fee with trust wallet.
2 - is their BTC staking? i saw some website offering that but mostly are scam so i prefer someone from here tell me
Maybe you're referring to bitcoin trading here?
Naturally nothing like bitcoin staking on bitcoin network if am not mistaking, but some exchanges or crypto organizations make provisions for that in their own context at your own risk.
3 - what is the best wallet for Bitcoin
bitcoincorehttps://bitcoin.org/en/bitcoin-core/
Passport
Electrum
Sparrow Bluewallet
Open Source Hardware Wallets
https://bitcointalksearch.org/topic/list-open-source-hardware-wallets-5288971 you can choose from the ones that supports bitcoin only.
Wallet has nothing to do with transaction speed. The fee paid and the mempool congestion will determine how fast your transaction would be.
Trustwallet is close source. Use open source wallet for bitcoin.
There is no bitcoin staking. The ones you see like wBTC and others are not bitcoin but pegged with bitcoin.
For multicoins with bitcoin, use Unstoppable wallet.
The best wallet for bitcoin are Electrum, Sparrow, Bluewallet, Bitcoin Core, Specter, Samourai...
Hardware wallet like Passport or Trezor.
Trustwallet is close source. Use open source wallet for bitcoin.
There is no bitcoin staking. The ones you see like wBTC and others are not bitcoin but pegged with bitcoin.
For multicoins with bitcoin, use Unstoppable wallet.
The best wallet for bitcoin are Electrum, Sparrow, Bluewallet, Bitcoin Core, Specter, Samourai...
Hardware wallet like Passport or Trezor.
1. No. It doesn't matter which non-custodial wallet you're using. The speed will depend on the mempool state and the fees you pay[1].
And yes, you should be able to increase the fees when using Trustwallet as explained here[2]
2. Not really, no. Not in a decentralized way like you would see with ETH or some other coins anyway. I can't vouch for any services, but if you were to use a legitimate service that offers these services, you would still be giving them full control over your funds, which is not something you should be doing.
3. If we're talking about security, then (open source) hardware wallets would be the best choice.
[1] https://mempool.space/
[2] https://community.trustwallet.com/t/how-to-change-the-btc-network-fee/67205
And yes, you should be able to increase the fees when using Trustwallet as explained here[2]
2. Not really, no. Not in a decentralized way like you would see with ETH or some other coins anyway. I can't vouch for any services, but if you were to use a legitimate service that offers these services, you would still be giving them full control over your funds, which is not something you should be doing.
3. If we're talking about security, then (open source) hardware wallets would be the best choice.
[1] https://mempool.space/
[2] https://community.trustwallet.com/t/how-to-change-the-btc-network-fee/67205
Hello everybody
i have some questions i hope someone can help
1- Is wallet have to do something with transaction speed? i have a trust wallet ( but in another topic that i open, someone says that I can pick a high fee to make it fast but there isn't )
2 - is their BTC staking? i saw some website offering that but mostly are scam so i prefer someone from here tell me
3 - what is the best wallet for Bitcoin
i hope you find this topic useful and gain some knowledge from the experts here
i have some questions i hope someone can help
1- Is wallet have to do something with transaction speed? i have a trust wallet ( but in another topic that i open, someone says that I can pick a high fee to make it fast but there isn't )
2 - is their BTC staking? i saw some website offering that but mostly are scam so i prefer someone from here tell me
3 - what is the best wallet for Bitcoin
i hope you find this topic useful and gain some knowledge from the experts here
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