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Topic: Bitcoin Wallets - page 3. (Read 748 times)

legendary
Activity: 1876
Merit: 3132
March 16, 2018, 01:24:44 PM
#32
For online wallets, blockchain is quite good, just secure it properly and if you can afford a hardware wallet then get one because it's much safer and reliable.

Using web wallets is a common mistakes which many newbies make. I must admit that they are really convenient to use but they are not secure at all. Blockchain doesn't let you to view or manage your own private key which is later used for signing transactions. Try to use Electrum, Armory or Bitcoin Core if you don't want to spend any money on a hardware wallet or if you are waiting for one to be delivered. Even if your hardware wallet dies, you still will be able to recover your bitcoins using seed given on the first wallet setup. If you really want to use a web wallet then go for GreenAddress.it
full member
Activity: 2184
Merit: 100
SOL.BIOKRIPT.COM
March 16, 2018, 05:05:38 AM
#31
You have done such a marvelous job. It is very useful for beginner as well as for others also because honestly speaking even I don't have such a vast knowledge. The knowledge you shared is very precious for us. I heard about the many wallet but doesn't have in depth knowledge your research is very helpful to understand the pros and cons of wallets that is very knowledgeable. Even I am planning to buy Trezor wallet that I understood is good to have it.
full member
Activity: 462
Merit: 101
BitcoinSN - The Real Bitcoin!!!
March 16, 2018, 04:55:44 AM
#30
Well, to be honest, this is one of the best post made in this forum with well researched and adding value to the query and this was one of my first questions in this forum when i was at beginner level. According to me the best wallets for Bitcoin or any other coins will be the Hardware wallets especially something like Trezor wallet and i have bought one a few months back and using it on daily basis. I am quite happy with the hardware wallet and other than hardware every other wallet lacks behind.
newbie
Activity: 123
Merit: 0
March 16, 2018, 04:45:21 AM
#29
For online wallets, blockchain is quite good, just secure it properly and if you can afford a hardware wallet then get one because it's much safer and reliable.
sr. member
Activity: 980
Merit: 294
March 16, 2018, 04:27:26 AM
#28
I think it's good to store your Bitcoin into a hardware wallet like the ledger nano. If you don't have a ledger nano, your Bitcoin must be placed into some wallets and not in one address only. Local wallets like coins.ph is not advisable for those who have large amount of Bitcoin because aside from it has a limitations in terms of withdrawals, they also watching the amount of the Bitcoin that come and go into your wallet, you might be suspecting of money laundering and your account on them will be suspended if they will not be satisfied with your credentials provided. So coins.ph is not reliable enough.
full member
Activity: 352
Merit: 125
March 16, 2018, 04:25:35 AM
#27
newbie
Activity: 30
Merit: 0
March 16, 2018, 04:17:08 AM
#26
I am a beginner for me Bitcoin should be kept in the wallet so it will limit the possibility of theft from Smiley Smiley
newbie
Activity: 56
Merit: 0
March 14, 2018, 03:21:29 PM
#25
If you want to accumulate or for what purposes get Bitcoin, then the easiest way to do this is through exchangers. Choose the exchanger that suits you and buy bitcoins for rubles or dollars.
member
Activity: 266
Merit: 10
BITCOIN TRADER 2016
March 11, 2018, 01:05:18 AM
#24
Nice post thank you for this information you share to us, atleast we can choose what wallet that compatible with us. For mow im still using my old wallet but maybe later on i will use another wallet the secure wallet for my bitcoin soon.
sr. member
Activity: 602
Merit: 327
Politeness: 1227: - 0 / +1
March 10, 2018, 11:23:29 PM
#23
Well written and well explained too, but regarding hardware wallets, you should include (I guess) some products of ledgerwallet like the nano blue and for the software wallet samourai wallet is nice too, there are many positive feedbacks for this wallet.
Good day Sir. I didn't include the Samurai Wallet because the app is still in development. It's still unstable and some bugs may still occur when using it, though Samurai wallet will really become a good wallet in the future since it has so many features. I will add Samurai Wallet once it is fully released.  Wink

Well written and well explained too,

Thanks for your greetings Sir. Good comments like these inspired me by making more research and informative posts.
 
And addition for blockchain.info disadvantages, the wallet is full of bugs.
Updated. Thank you and sorry, my research is not fully complete. Still missing some informations.
copper member
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
March 10, 2018, 09:18:58 AM
#22
Well written and well explained too, but regarding hardware wallets, you should include (I guess) some products of ledgerwallet like the nano blue and for the software wallet samourai wallet is nice too, there are many positive feedbacks for this wallet.

1) Are hardware wallets allowed on every exchange. I mean I am not using any international exchange but the exchanges available in my country. I do not see any option there to store in physical wallet. I tried searching for tutorials but there is nothing for the specific exchange.
Yes, hardware wallets are allowed on any exchange you are only sending cryptocurrencies to the wallet address of the exchange or vice versa and there's nothing to do when sending to any wallet, international exchange or local.

2) If someone steals that physical wallet and I have not written the details, I will not be able to access the coins. Right ?
Of course, yes. Once the hardware wallet breaks, steal or lost and you don't have written or save the backup of it then there's no way to recover your funds on that hardware wallet that's why most wallet has an alert to backup the recovery phrase first when using in any type of wallet.

And addition for blockchain.info disadvantages, the wallet is full of bugs.
jr. member
Activity: 84
Merit: 3
March 10, 2018, 08:56:36 AM
#21
Thanks for this detailed guide on different types of wallets. I have some doubts about this and hope you can answer:

1) Are hardware wallets allowed on every exchange. I mean I am not using any international exchange but the exchanges available in my country. I do not see any option there to store in physical wallet. I tried searching for tutorials but there is nothing for the specific exchange.

2) If someone steals that physical wallet and I have not written the details, I will not be able to access the coins. Right ?
member
Activity: 114
Merit: 10
Bitcoin: 1HrWs3tDzWr13zocV3qP9ENRLgiDuewtsu
March 10, 2018, 08:48:21 AM
#20
the wallet space has a huge opportunities for hardware companies like samsung and toshiba, they could mass produce them cheap w/ high quality.
sr. member
Activity: 602
Merit: 327
Politeness: 1227: - 0 / +1
March 10, 2018, 08:43:41 AM
#19
Well, I thought it might be worth mentioning since you wrote "Ledger Nano S" instead of just "Ledger". There was also Ledger Blue but it was discontinued. I still think that it would be a good idea to add this model since it "fixes" the disadvantages of the previous model, but it's up to you.
Oh ,I just used the name Ledger Nano S because it is the common name called by people to Ledger wallet.  Grin and it is also the name that I saw in some articles that I found. They also called it Ledger Nano S that's why it's the name I also used.
You should also try formatting the whole text, it will look better. Try to bold some of the most important information such as software and hardware wallets definition.
Because of excitement I forgot to use some of the forums functions for formatting text. Thank you for reminding me.

Silent26,you invest some time and research in your thread and there is no doubt that it will be of help for newbies and for some more experienced users.I'm not sure is this thread belongs here or would be more appropriate to be posted in Beginners&Help,but this is up to you and moderator.

Some things I would added/change to your descriptions :

Ledger Nano S is support much more crypto coins then Trezor,and Ledger reputation is not in any case worse then Trezor.

For any online wallet,like Blockchain.info it would be well worth mentioning that this is not a way to store&keep coins for long term.if you not have full control of your private keys-you can lose them anytime.

Another thing that would be worth mentioning is download of any wallets from internet,there is so many attempts of phishing and users often download fake wallets and lose coins in that way.So maybe would be good to add legit link for every wallet which you have described.
That's a good Idea. Working on it Sir. I will add the links for each of these wallets where it can be downloaded and buy. Actually I really decided to post this thread in this section because, Im thinking that if I posted this in Beginners&Help. There's a possibility that no non-beginners can't find this topic since they don't visit Beginners&Help Sections too much. But it still depends on our Moderators to where this topic really belongs  Grin
By the way. Thank you for adding more informations Sir  Wink I appreciate it so much.

Nice and realy helpful our new member to know some advantages and disadvantage of other bitcoin wallet thank you for this thread very helpful and useful. You deserve a merit from me.
Thank you Sir  Smiley I'm glad to help you.
full member
Activity: 406
Merit: 100
March 10, 2018, 08:25:09 AM
#18
Nice and realy helpful our new member to know some advantages and disadvantage of other bitcoin wallet thank you for this thread very helpful and useful. You deserve a merit from me.
member
Activity: 742
Merit: 12
March 10, 2018, 08:24:33 AM
#17
Several of these wallets I have used. The paper wallet is best for huge amount storage and of course for any amount in long-term. Ledger Nano is user-friendly including newbie. I'm using one of it right now.
If you ask me about web wallet, well I don't prefer them but if I need to use one, I'd prefer blockchain.info.
I use Mycelium and Coinomi where Mycelium is the winner. For PC I prefer Bitcoin core because I have a limited trust level for third-party apps and tools.
sr. member
Activity: 518
Merit: 268
March 10, 2018, 08:15:40 AM
#16
That's a very nice and detailed list of available Bitcoin wallets. But I think you should treat them equally in terms of being open-source or not, as in some wallets you mention it as a benefit, while in other you don't mention it at all. Bitcoin Core, Electrum and Armory are all fully open-source, while most hardware wallets are not fully open-source and exodus isn't either. Open-source is an important aspect of the safety of a wallet, as it allows you to verify whether a wallet is working as described and doesn't include any backdoors.
sr. member
Activity: 2366
Merit: 332
March 10, 2018, 07:55:49 AM
#15
I recently got to know about how rich and secured coinomi is. It is not open to the public which is the most important. Difficult for hackers if you don't expose your password & seed. Having numerous wallets for different coins plus support for additional tokens is another advantage it has.
legendary
Activity: 3234
Merit: 5637
Blackjack.fun-Free Raffle-Join&Win $50🎲
March 10, 2018, 07:39:25 AM
#14
Silent26,you invest some time and research in your thread and there is no doubt that it will be of help for newbies and for some more experienced users.I'm not sure is this thread belongs here or would be more appropriate to be posted in Beginners&Help,but this is up to you and moderator.

Some things I would added/change to your descriptions :

Ledger Nano S is support much more crypto coins then Trezor,and Ledger reputation is not in any case worse then Trezor.

For any online wallet,like Blockchain.info it would be well worth mentioning that this is not a way to store&keep coins for long term.if you not have full control of your private keys-you can lose them anytime.

Another thing that would be worth mentioning is download of any wallets from internet,there is so many attempts of phishing and users often download fake wallets and lose coins in that way.So maybe would be good to add legit link for every wallet which you have described.
legendary
Activity: 1876
Merit: 3132
March 10, 2018, 07:28:00 AM
#13
Yes you are right Sir. But what I have discussed to Trezor is some of its advantages and disadvantages. I didn't include the features and other improvements of the latest Trezor because I thought its unnecessary since I'm just giving some basic and main information about the wallets I provided. My main goal is to atleast give people some ideas about different wallets and its pros and cons. I think the improvements and new features of each wallet is unnecessary. But still,  Thank you for your information Sir. People who read this thread will also find your post helpful.

Well, I thought it might be worth mentioning since you wrote "Ledger Nano S" instead of just "Ledger". There was also Ledger Blue but it was discontinued. I still think that it would be a good idea to add this model since it "fixes" the disadvantages of the previous model, but it's up to you. You should also try formatting the whole text, it will look better. Try to bold some of the most important information such as software and hardware wallets definition.
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