[General] Bitcoin Wallets - Which, what, why? - page 2.

kobita333

member

Activity: 244

Merit: 10

Official Street Team member

Quote from: ?? on ??

Hi. I would just like to know if you have heard of cases where people's money have been stolen from their wallet. If so how can you avoid this?

The only way to steal money is if they compromise the target machine/network. To avoid this you need to look into general security advice for computers and network. Read this thread: Beware of Malware: Think Before Acting!. What you could do is:
1) Keep the majority of your coins on an offline machine and only boot it when you need to use them.
2) Split the coins across several different devices (e.g. desktop wallet, mobile wallets) and make sure to use 2FA and encryption where available.

Another way to keep your coins from being stolen is to use a cold storage wallet. While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe. With the cold storage keys being generated offline, there is no way for a hacker to get said keys. But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.

If you want to save coins for the long term, a cold storage wallet is definitely the solution to go with.

Few days ago a youtuber upload a screen record video from her laptop. In that screen he kept his private key. Some of his viewers zoomed and got the key, for this that youtuber lost about $15000 .
So please don't get know anyone about your private key.

OmegaStarScream

staff

Activity: 3402

Merit: 6065

Quote from: gospelzm on July 10, 2019, 02:12:09 PM

Hi everyone. I'd like to get your opinion on Jaxx. I've read about minor lagging but it seems to be not crucial. Is it true?

Don't use that wallet. It's neither transparent/open source nor secure.

If you're holding more than 500$, I suggest buying a hardware wallet otherwise stick to MEW (ETH and ERC20) and Electrum (BTC/DASH/LTC) and that should cover most of you're holdings in Jaxx.

gospelzm

newbie

Activity: 22

Merit: 0

Hi everyone. I'd like to get your opinion on Jaxx. I've read about minor lagging but it seems to be not crucial. Is it true?

OmegaStarScream

staff

Activity: 3402

Merit: 6065

Quote from: Ruramai on July 09, 2019, 09:30:08 AM

Hey, i'm new to this and i was wondering wether getting a hardware account would affect flexibility of access to funds?

It won't. Unlike paper wallets, HWs are pretty easy to use and spend from without having any risk and you can also access from both your computer and phone. I suggest going with Ledger nano S (more convenient for accessing funds on phone) or Trezor.

Ruramai

brand new

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Hey, i'm new to this and i was wondering wether getting a hardware account would affect flexibility of access to funds?

rricaresad33

newbie

Activity: 3

Merit: 0

Quote from: OmegaStarScream on June 19, 2019, 09:03:38 AM

Quote from: rricaresad33 on June 19, 2019, 04:31:29 AM

Hey, I'm pretty new at this and I was thinking to get a nordvpn to secure my wallet. Although I would like to get your opinion about this. Is it usefull, is it worth it, or maybe you could suggest something else?

Thank you.

A VPN, transactions over Tor, and using mixers will only make you hard to track and find. If you're concerned about the safety of your funds that much, a hardware wallet is the best solution.

Thank you and ETFbitcoin also! So after all, I got nordvpn for just my data safety anyways, but I'm about to get a hardware wallet either.

lastvillain

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Wasabi Wallet
Samurai Wallet
Both are Wallets are built in regards to better privacy.
Wasabi wallet just mixes coins on all wallets users between each other and does it using the multisig script to completely eliminate the trust on the other party. Also being a new type of validation, which involves communication with a central server anonymously over Tor AND the Bitcoin P2P network. I like their way of utilizing coinjoin and all the other features it has which also do not complicate the GUI of the wallet. One thing is though it only supports Bech32, being a segwit address format which is specified by BIP 0173. Also the to use coinjoin the minimum amount is considered high as I believe it's over 200USD to initially mix in coins.

Samurai Wallet is I'd say is definitely focused on taking back privacy of transactions and they definitely are very forward with elevating security at a higher caliber than most mobile applications. They most certainly are devoted to what they do and the whole development team is very active. I'd recommend both wallets to anyone who seeks out privacy and also for convenience wasabi wallet packs a lot of useful features for breaking the ties of bitcoin transactions/blockchain.

ddesoran9

newbie

Activity: 4

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What about securing the crypto wallet? I found this article https://tipsfromgeeks.com/guides/crypto-wallet-security/ about it, although I'd like to get some personal experience.

ZenGo

newbie

Activity: 14

Merit: 4

Quote from: masulum on June 25, 2019, 06:46:12 AM

Quote from: ZenGo on June 25, 2019, 06:17:31 AM

I would recommend taking a look at ZenGo. It's the first keyless, non-custodial wallet based on threshold cryptography. There is no private key but you're still the ONLY one who has access or control of your funds.

Look great, I start to searching about ZenGo and found articles on Mashable, there is mentioned if we need to scan our face to start using wallet after registrations.

To backup your wallet you do need to scan your face. Although the way that the server side stores the face scan is through an encrypted mathematical representation of your face (not an actual photo). So it's not something that could be abused or distributed.

masulum

legendary

Activity: 2226

Merit: 1592

hmph..

Quote from: ZenGo on June 25, 2019, 06:17:31 AM

I would recommend taking a look at ZenGo. It's the first keyless, non-custodial wallet based on threshold cryptography. There is no private key but you're still the ONLY one who has access or control of your funds.

Look great, I start to searching about ZenGo and found articles on Mashable, there is mentioned if we need to scan our face to start using wallet after registrations.

ZenGo

newbie

Activity: 14

Merit: 4

I would recommend taking a look at ZenGo. It's the first keyless, non-custodial wallet based on threshold cryptography. There is no private key but you're still the ONLY one who has access or control of your funds.

Jwick83

jr. member

Activity: 153

Merit: 4

Quote from: ?? on ??

Quote from: joniboini on June 20, 2019, 02:25:53 AM

Quote from: Jwick83 on June 20, 2019, 02:03:08 AM

Currently using coinbase wallet and I think the fees are high.

Coinbase is more like an exchange. Try to use Electrum, you can change the fees if you want to, but remember that it depends on a lot of things, such as your input, the network status and so on. But in general, using Electrum (plus segwit) could give you a boost instead of using an exchange wallet.

Still, you need to move your Bitcoin from Coinbase to another wallet & you'll back to the first problem.

Don't forget Coinbase is custodial wallet and AFAIK there's no export seed/private key option.

I have moved to blockchain wallet.

Seems decent enough to me.

I can have the minimum bytes as low as 10, but I think 20-50 bytes is good enough. It'll take an hour to fully receive but getting 1 confirmation is less than an hour or so. Haven't tested sending low amounts and seeing, what fees I have to pay.

I moved my BTC from coinbase to Blockchain, and I'll stick to this.

I am not very "technical" with words like segwit and I am a simple user, trying to use bitcoins for my daily transactions.

P.S I do my payments mostly via mobile, so the blockchain app is pretty good and also convenient in letting me handle the fees.

But I read their note, that if the fees are very low. the transaction may never be confirmed? Has this happened to anyone before? And why does this happen? I thought the more the fees, faster it get's confirmed, but less fees = may not get confirmed at all? And there's no way getting a refund for BTC, so you'd lose the money forever?

joniboini

legendary

Activity: 2170

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Quote from: Jwick83 on June 20, 2019, 02:03:08 AM

Currently using coinbase wallet and I think the fees are high.

Coinbase is more like an exchange. Try to use Electrum, you can change the fees if you want to, but remember that it depends on a lot of things, such as your input, the network status and so on. But in general, using Electrum (plus segwit) could give you a boost instead of using an exchange wallet.

Jwick83

jr. member

Activity: 153

Merit: 4

Currently using coinbase wallet and I think the fees are high.

Any other wallet with similar functions and a bit lower fees? I kinda do 3-5$ transactions and it requires around 2$ worth in fees so I end up paying more, and over the time it costs alot.

rricaresad33

newbie

Activity: 3

Merit: 0

Hey, I'm pretty new at this and I was thinking to get a nordvpn to secure my wallet. Although I would like to get your opinion about this. Is it usefull, is it worth it, or maybe you could suggest something else?

Thank you.

canadian33

newbie

Activity: 23

Merit: 0

I do keep my coins on hardware wallets and actually, tried both ledger and trezor, see no difference. But when dealing with erc20 I use a mobile app Lumi wallet. Now you can get a free eos account there which is neat. Not sure how much it costs niormally but heard it's somehow painful to create new eos account.

Tajuluc

newbie

Activity: 16

Merit: 0

Quote from: mytakin on June 06, 2019, 05:18:20 PM

Quote from: Tajuluc on June 04, 2019, 08:40:07 AM

hi i am a newbie as u can see,excuse my question but are offline wallets advantageous?in term of security

Offline wallets are better due only you has absolute control of your keys and the signatures. Any online services could have access to your keys.

thanks i will search for that,security is the most important thing with this cryptocoins

mytakin

newbie

Activity: 1

Merit: 0

Quote from: Tajuluc on June 04, 2019, 08:40:07 AM

hi i am a newbie as u can see,excuse my question but are offline wallets advantageous?in term of security

Offline wallets are better due only you has absolute control of your keys and the signatures. Any online services could have access to your keys.

szmalek1212

newbie

Activity: 5

Merit: 0

hello can any one advise my which wallet i should use. i just need to send money to bank account. Is there any wallet that dosent need verification?
Im having 115E in 4conis in btc ofcourse i i dont know how to whitdraw.
Sorry for bad english

thanhtrung99vn1

brand new

Activity: 0

Merit: 0

Without a Bitcoin wallet, you can’t send or receive Bitcoin payments. So before you get bitcoins, you’ll need to buy, download, or create a bitcoin wallet.

Topic: [General] Bitcoin Wallets - Which, what, why? - page 2. (Read 139327 times)