Topic: Crypto Wallet (Read 402 times)

There are many crypto wallet or Exchange where you can hold your crypto assets. I recommend that you use binance exchange you can hold and trade your favorite coins and also hold for Long term.if want more save you can use trust Wallet that is decentralized Wallet  you can also hold your tokens with security

First (and LOOOONG before even thinking about getting "a wallet"), I'd recommend you do a whole lot of learning. Your original post leads me to believe you don't have the needed knowledge to start on cryptocurrencies.
Read. When you're sick of reading, read more! I have followed several online courses from Udemy.com (5 so far). Ask questions here, and KEEP READING!
In a nutshell (I'm far from an expert), first, find out which kind of wallet is best for you. There are many: exchanges (both custodial and non custodial), paper wallets, software wallets, air gapped wallets, hardware wallets...
Each has it's own pros and cons, and its own limitations.
For example: hardware wallets are widely regarded as the safest option, but they can be expensive, or just unavailable, depending on where you live. And, again depending on your circumstances, they may not be worth it.
Meanwhile, paper wallets are free, and may offer you a suitable degree of security, if you're holding just a few bucks (which can be a fortune outside the US).
Or a software wallet may be safe enough for you. Or, if you don't plan on transacting on your crypto that often, having an air gapped wallet (a software wallet in a strictly off-line OS), while cumbersome to use, may be the right solution for you.

One think to keep in mind is: learn the full address of your future wallet, DON'T GOOGLE and DON'T FOLLOW LINKS. And check the full link you're about to visit BEFORE you  do. "whatever. com" is not the same as "whatever.io", for example. make sure you're following the right link, and not going to a scammer's website.

Metamask wallet only support ether and ethereum tokens. Also it is a web wallet as explained above which are most vulnerable to online attacks. Trustwallet is not open source anymore.

To deal with altcoins, you will be better with open source hardware wallets like Trezor.

Do not forget some people buy on centralized exchanges and got discouraged to send to noncustododial wallet because of the exchange high withdrawal fee, especially for bitcoin and ether. Centralized exchanges can be hacked, gives no full control, and it's never your coins on blockchain as you do not have the keys, the exchange owners have the keys and the full control that can overide yours. Best for people to have their coins on reputed noncustodial wallet.

What has been noticed for long is that faucets are no more profitable but a complete waste of time. Also there are needs to be careful of airdrops not to directly or indirectly lead to scam.

There are tons of different wallets out there..hardware wallets, mobile wallets, laptop/desktop wallets...etc.. My personal recommendation would be to go with one that is well established and used by a lot of people (might make it easier to get help/assistance if you have any problems or questions). Personally, on mobile I like Trust Wallet and on desktop/laptop I like MetaMask.

For getting money in there, you have a couple options...
1) Some wallets (like MetaMask) offer the option to buy crypto using your debit/credit card.
2) Buy on an exchange (such as Binance or Coinbase) and then send to your wallet address.
3) Do airdrops/faucets/bounties..etc and cash those out to your wallet address(es).

There are tons of different wallet options out there and people have their personal favorites. Do some research depending on your needs and maybe install one or two to check the layout..etc before you start putting money in there.

Trustwallet is no more an open source wallet, the reason it is not advisable. Matamask wallet is a web wallet, web wallets are most vulnerable to online attacks.

For bitcoin, I will prefer Bitcoin Core for privacy, Electrum for one of the best SPV wallets, while hardware wallets can be the best for altcoins which can also be used for bitcoin as they are more secure than online wallets. There are some existing open source hardware wallets.

The blockchain is an open ledger available to the public. Secondly, all transactions are online, even while using hardware wallets or any other offline or cold wallets. Just that the private key is what is kept offline while making use of hardware wallet, the reason it is safer than online wallets.

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I like the trezor hardware wallets

trezor.io is the website

@ altcoinshub
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he can download a core wallet on a safe pc

but he will need a decent internet connection
he will need a 1tb ssd
and the ability to back that up onto 2 hdds

or get a trezor hardware wallet.


and he needs to understand with his own pc wallet or a hardware wallet he can still get roobed

i will suggest you that use trust wallet or metamask that is dex wallet where you can save crypto online without loosing any money. if you want to trade any crypto in daily basis you can choose binance exchange to trade any crypto like buying and selling. but you will be search on google to right further info about that wallet which you have better feel. other side you an choose hardware wallet to get secure you,r crypto offine mode

I only suggest wallets that is known and used by many like what people mentioned above. Don't ever make a try to those new random websites, google can give you every questions you ask, just make a proper keywords though.

It all depends on what you want to do with your wallet. Personally, having a hardware wallet, a hot wallet, and an exchange is sufficient as long as you understand the do's and don'ts of these types of wallets.

If you have a large amount of crypto in your stash and plan to hold it for a long time, it is important that you have  at least one hardware wallet, such as a trezor/ledger/coldkey, etc. You can also integrate these HW's into Electrum if you want

If you're only going to use the wallet for day-to-day spending, Bluewallet will suffice, assuming you're only holding bitcoin and no other altcoins. Can be downloaded on playstore or applestore.

It is not about how safe p2p trading is, it is about teaching of how to avoid being scammed. So, are you implying that someone can not be scammed on binance p2p trading platform? You are wrong about this.

That aside, also know that some people that are privacy oriented will never go for a centralized p2p exchanges, they will prefer https://bisq.network/ and other reputed decentralized exchanges.

Centralized exchanges should not even be trusted, like you implied, any centralized exchanges can be hacked, even if coins are not stolen, how about stolen data that can indirectly be used in phishing attacks.

What you meant is to have full control over ones coin by making use of noncustododial wallets, that noncustododial wallet l will generate private key which can be used to unlock coins from blockchain directly rather than depending on centralized wallets and exchanges that gives no private key, which means no full control. The centralized wallets and exchanges have the keys and have the full control. So even the centralized wallets and exchanges and other centralized service providers do not give their users private key, so users have no full control over their own coins.

No, I still don't. 
Even how trusted Binance is and how popular the name is with this exchange platform but I still don't choose to store my coins there.  They'd once hacked and there's no safe platform when we're talking about centralization.  It's better to always have full control over your private key which means you have your own crypto.

As mentioned above, the most common use Bitcoin wallet is Electrum which is totally free, but don't forget to verify it first before you will install and prefer to the official that dropped the link above.  If you can't afford to buy Bitcoin wallet, choose those open-osurce wallets but if you have extra money, I would go on hardware wallets which is totally safe.

It all depends upon your requirements. For hardware wallet Ledger Nano & Trezor are the best wallets.
I have personally used them both and never faced any issues. But if you are willing for marketplace I would only recommend you Binance.
As it's the safest & trusted market place I have seen.

About your question, I believe you are new to cryptoactives. By the way, welcome! 

As previously mentioned by other users, one of the best ways to buy crypto is p2p, dex and exchanges.

Regarding the wallet to store your bitcoins, I believe the Electrum is an excellent option, it is a good quality wallet and has several interesting features!
there are hardware wallets, which are physical wallets, and are one of the best ways to store your crypto.

I almost forget to share, there is the "official Bitcoin site" where he makes a comparison of the wallets that currently exist on the market, I believe this can be useful 
https://bitcoin.org/en/choose-your-wallet?step=5


ps: some advice, don't store your funds at exchange wallet.
"not your keys, not your bitcoins".

In case you are interested in purchasing a hardware wallet like Ledger, Trezor or KeepKey, here is a list of all hardware wallets: [BIG LIST] Hardware wallets (80+) (thanks to Ratimov). However, I'm not sure if it's still up to date with the latest models. Hardware wallets are considered the most secure, as they store a user's private keys securely and never expose them to the internet or to any other third parties.

If you plan to trade daily it's better to use mobile wallet like trust wallet or metamask mobile wallet for faster transfer but if you want to be a long term holder it's better to buy hardware Wallet and they are the best

u can start buy and hold in exchange wallet but most people wouldn't recomend that, so if u purpose buy and hodl for long term try using external wallet with private key on it like trustwallet, safepal metamask

and how to transfer it u can see bunch of tutorial on youtube

I'd suggest a hardware wallet if you plan on some long-term investing. If you are buying hardware, look into getting a used one if possible. But even if you pay full price, you won't regret it, security is not a thing you want to be cheap with. I can attest from personal experience that the Ledger Nano-S is a great product. But that's old technology and I am sure newer versions are better.

The OP, I'm pretty sure Charles-Tim has all the answers you need regarding wallets. I recommend Electrum if you don't want to buy a hardware wallet, but if you have a large amount of bitcoins then a hardware wallet is one of the best for you.

The use of the wallet depends on your needs, if you want to stay safe then make sure you make proper efforts to implement the recommended security practice. I only advise you not to entrust all your funds to a custodial wallet, it is very risky for the safety of your own funds. Owning bitcoins is how you have the bank in your own hands, so make sure you choose a completely secure wallet for it.

That's a close source wallet I will not recommend either.

If you have assets, it would be better if you will separate your bitcoin to your altcoins, much safer if you will use a single wallet that is for the bitcoin only.
I agree with the above, Electrum is still the best one if you can't afford to buy a hardware wallet which is really good if you have this one.

If that is a small amount, better to use Electrum but if that's a huge amount and I doubt you can buy a hardware wallet which is far better than Electrum as long as it is an open-source wallet.

Yeah. Crypto wallet connotes some general purpose wallet just like the exchanges and Trustwallet us one wallet that could do that. Having wallet addresses for varying coins, along with there smart chains to look out for. Though how secure it is, is questionable being a closed source wallet. To go a lot more private, get a wallet that comes with a private key and specific for a coin, like the electrum or mycelium wallet that is all and only for bitcoin. It would serve you more better.