[General] Bitcoin Wallets - Which, what, why? - page 9.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: MrSlippage on June 24, 2022, 01:35:57 PM

I think that this post needs an update... Huh

It does, but the OP/TS of this thread "permanently left this forum back in October of 2020"; hence the lack of updates since then.

Quote from: MrSlippage on June 24, 2022, 01:35:57 PM

Anyone knows about "ColdCard Mk4" Roll Eyes

I have limited knowledge about that particular model, so I'd suggest either creating a thread on the "Hardware wallets" board or reading some of the published threads/posts in regards to Mk4:

MrSlippage

newbie

Activity: 5

Merit: 2

Quote from: OmegaStarScream on June 24, 2022, 02:23:22 PM

Quote from: MrSlippage on June 24, 2022, 01:35:57 PM

-snip-
Anyone expert, Could say main wallets to use for example;

- Computer/PC

- MobilePhone (Android & IOS)

About HardwareWallet like Trezor, Ledger or SafePal. Anyone knows about "ColdCard Mk4" Roll Eyes

-snip-

I wouldn't label myself as an expert but, here's what I'd personally go with (for bitcoin):

Desktop: Electrum
Mobile: Blockstream or Samurai wallet (the latter is privacy-focused).

As for the HWs, then since I'm not that familiar with the MK4 model, I would go with either Trezor or Ledger. SafePal might be cheap but it's definitely not something you should be using for your life savings (closed source, backed by Binance, bad UX, etc.)

Thanks for reply! @OmegaStarScream Grin

I'll try both Electrum and Samurai! Cool

Thanks for your time, Roll Eyes

OmegaStarScream

staff

Activity: 3402

Merit: 6065

Quote from: MrSlippage on June 24, 2022, 01:35:57 PM

-snip-
Anyone expert, Could say main wallets to use for example;

- Computer/PC

- MobilePhone (Android & IOS)

About HardwareWallet like Trezor, Ledger or SafePal. Anyone knows about "ColdCard Mk4" Roll Eyes

-snip-

I wouldn't label myself as an expert but, here's what I'd personally go with (for bitcoin):

Desktop: Electrum
Mobile: Blockstream or Samurai wallet (the latter is privacy-focused).

As for the HWs, then since I'm not that familiar with the MK4 model, I would go with either Trezor or Ledger. SafePal might be cheap but it's definitely not something you should be using for your life savings (closed source, backed by Binance, bad UX, etc.)

MrSlippage

newbie

Activity: 5

Merit: 2

I think that this post needs an update... Huh

Anyone expert, Could say main wallets to use for example;

- Computer/PC

- MobilePhone (Android & IOS)

About HardwareWallet like Trezor, Ledger or SafePal. Anyone knows about "ColdCard Mk4" Roll Eyes

Thanks, regards Grin

Hispo

legendary

Activity: 1162

Merit: 2025

Leading Crypto Sports Betting & Casino Platform

Quote from: nc50lc on June 17, 2022, 12:37:08 AM

All good except this:

Quote from: Hispo on June 16, 2022, 07:23:21 PM

-snip-
3... Are called segwit

Those addresses that start with "3" aren't all SegWit.
"P2SH" (Pay to Script Hash) can also be MultiSig: "P2SH-MultiSig" or other scripts; in SegWit's case: "P2SH-P2WPKH" as mentioned in that article.

Thanks for pointing that out, I forgot that little detail.
I was kind of just explaning the basics so the new users lurking this thread could have a grasp of the differences among the type of Bitcoin addresses one can use and I decided to share that article about the subject published by Trezor which I recalled it was quite good explaning the basics to newbies within the crypto community about addresses, that why I included it, in case someone wanted to read further my short asnwer.

dkbit98

legendary

Activity: 2212

Merit: 7060

Cashback 15%

Quote from: Agathamay on June 16, 2022, 01:31:41 PM

I want to ask as a newbie, what is the best wallet to trade ur coin and I will like to know more about bundle wallet and how safe and effective it is

I don't know what ''bundle wallet'' is exactly, but if it is wallet for storing Bitcoin with other altcoins than I would use some hardware wallets like Trezor, or open source mobile wallets like Unstoppable.
Wallets are generally not used for trading, only for storing secret keys for your coins, but there are one dex exchange Bisq that you can use for both use cases.
One more option is AtomicDEX, that can be used as a wallet and for atomic swaps between Bitcoin and other coins.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Quote from: Agathamay on June 16, 2022, 01:31:41 PM

I want to ask as a newbie, what is the best wallet to trade ur coin and I will like to know more about bundle wallet and how safe and effective it is

To trade, for privacy, you will best use decentralized exchanges like https://localcryptos.com/, https://hodlhodl.com/, https://bisq.network/ or any other decentralized exchanges.

For convenience, you can use the so called centralized wallet if it support swapping or conversion, or use centralized exchanges, but you have no full control of centralized wallets and exchanges, the coins on it can be hacked and no privacy.

About Bundle wallet, according to what I saw on Playstore:

Quote

About this app

Bundle Africa is a social payments app for Cash - NGN & Crypto - BNB, BTC & ETH

Note: Bundle is currently available in Nigeria and Ghana . We'll be in more countries soon!

I downloaded the app, it requested for phone number and I decided not to proceed because it is already obvious that the app is not noncustododial wallet and it is just a payment app.

Best wallets

Full client
Full node wallets, Bitcoin Core, not for newbies and require learning very well about the full node, requires up to 5 to 10 gigabyte monthly to say updated and require almost 400 gigabyte to download the full bitcoin blockchain. Only for those that want to have their own node but most people use SPV light client wallets which are the ones I will list below.

Best light clients
Electrum, but an online wallet
Open source hardware wallet
You can also go for airgapped wallet which are also cold storage: Electrum cold storage

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: Agathamay on June 16, 2022, 01:31:41 PM

what is the best wallet to trade ur coin

It depends on choosing the most convenient one ^{[online wallets]} or a somewhat safer route that's a bit complicated ^{[hardware wallets]}.
^{- Regarding the former, "most" of them can freeze your funds or a hacker might access your wallet and as for the latter, most ^{[if not all]} of them rely on third-party providers for offering such features ^{[in other words, they can also freeze your funds and ask for some information]}!}

Quote from: Agathamay on June 16, 2022, 01:31:41 PM

and I will like to know more about bundle wallet and how safe and effective it is

If you're referring to multi-cryptocurrency wallets, always go with a hardware wallet that supports various cryptocurrencies.
^{- It gets the job done, but I prefer to not say they're 100% risk-free!}

nc50lc

legendary

Activity: 2338

Merit: 5297

Self-proclaimed Genius

All good except this:

Quote from: Hispo on June 16, 2022, 07:23:21 PM

-snip-
3... Are called segwit

Those addresses that start with "3" aren't all SegWit.
"P2SH" (Pay to Script Hash) can also be MultiSig: "P2SH-MultiSig" or other scripts; in SegWit's case: "P2SH-P2WPKH" as mentioned in that article.

Hispo

legendary

Activity: 1162

Merit: 2025

Leading Crypto Sports Betting & Casino Platform

Quote from: Lulu007 on June 16, 2022, 11:26:16 AM

Quote from: Hispo on March 17, 2022, 07:20:11 PM

Quote from: Lulu007 on March 17, 2022, 12:51:11 PM

-snip-

Thank you for your suggestion mate.
Actually, I see the pattern of Bitcoin wallet is changed. Now most of the address start with "bc", but before 2, 3 year I see most of them start with number.

Bitcoin has gone through some soft-forks that have introduced more efficient type of addresses:

1... are called legacy addresses, that is the original format
3... Are called segwit
bc1q... Are NAtive segwit adresses are more efficient than legacy ones, are are prefered in order to save money in fees.

You can find more information here:

https://blog.trezor.io/bitcoin-addresses-and-how-to-use-them-35e7312098ff?gi=3ffdd5451624

Quote

Can you suggest me some website or app for the best in 2022.
Cheers...

I'd say you should get a Trezor One from the official web store, they support Bitcoin, Ethereum and its tokens. I personally consider it to be a good hardware wallet and most importantly, they use free software.

Agathamay

newbie

Activity: 17

Merit: 8

Hello Everyone
I want to ask as a newbie, what is the best wallet to trade ur coin and I will like to know more about bundle wallet and how safe and effective it is

Lulu007

newbie

Activity: 6

Merit: 0

Quote from: Hispo on March 17, 2022, 07:20:11 PM

Quote from: Lulu007 on March 17, 2022, 12:51:11 PM

Hello everyone,
I am new here, so welcome to all community member. Actually, I know several way to create bitcoin wallet. But I can't understand which is the best option in 2022 and also secure plan. Can anyone give me some ideas or way the best plan. Many thanks in advance.

It depends on the quantity you want to secure, you are going to store about 1$-50$ worth of Bitcoin, you could use a good,open source mobile wallet like the Schildwach wallet or even electrum on your PC. YOu are storing more, let us say, over 200$, you should consider to use a Hardware wallet of good reputation.

Thank you for your suggestion mate.
Actually, I see the pattern of Bitcoin wallet is changed. Now most of the address start with "bc", but before 2, 3 year I see most of them start with number.
Can you suggest me some website or app for the best in 2022.
Cheers...

Hispo

legendary

Activity: 1162

Merit: 2025

Leading Crypto Sports Betting & Casino Platform

Quote from: Lulu007 on March 17, 2022, 12:51:11 PM

Hello everyone,
I am new here, so welcome to all community member. Actually, I know several way to create bitcoin wallet. But I can't understand which is the best option in 2022 and also secure plan. Can anyone give me some ideas or way the best plan. Many thanks in advance.

It depends on the quantity you want to secure, you are going to store about 1$-50$ worth of Bitcoin, you could use a good,open source mobile wallet like the Schildwach wallet or even electrum on your PC. YOu are storing more, let us say, over 200$, you should consider to use a Hardware wallet of good reputation.

Lulu007

newbie

Activity: 6

Merit: 0

Hello everyone,
I am new here, so welcome to all community member. Actually, I know several way to create bitcoin wallet. But I can't understand which is the best option in 2022 and also secure plan. Can anyone give me some ideas or way the best plan. Many thanks in advance.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Quote from: Markinzo on February 21, 2022, 04:29:12 PM

In the Advent of a stolen wallet what action then can one take up, ASAP?

The best is to avoid your wallet device not to be compromised by avoiding malware that can compromise your wallet and steal your coins. There is no one way to avoid malware than to be very conscious about it and visit only legit sites, making use of ad blocks like ublock, stop clicking on ads and ad links. Stop downing pirated torrent files and the likes.

To learn more, you can learn more from some of these topics:
Good topics on security and privacy

In case your device is infected, you may need to erase your device completely to become like a new device, and reinstall your OS.

Know that a compromised wallet means a compromised wallet which may not be recovered back as the coin on it would have been stolen already.

Markinzo

member

Activity: 336

Merit: 41

I must say this an eye opener for me.
In the Advent of a stolen wallet what action then can one take up, ASAP?

Charles-Tim

legendary

Activity: 1512

Merit: 4795

A thread was created yesterday about this:

Trezor hacked (again)

Quote from: dkbit98 on January 25, 2022, 04:48:50 PM

Problem is not only for Trezor but for most hardware wallets and devices that use STM32 microcontrollers and most wallets are using them.
They are used in billions of devices around the world, not only in hardware wallets and it's scary when you think about it, even without flaws some agencies could add backdoor for spying inside this chips.

Trezor already fixed the issue in latest firmware versions and wallets no longer copy or move the key and PIN into RAM but in protected part of flash that is not affected by firmware upgrades.

Quote from: zasad@ on January 26, 2022, 07:33:55 AM

---snipped---

We should always follow the appropriate way which is sending your coins to another offline wallet if your hardware wallet is stolen. Also the use of passphrase which is also advisable for Trezor users because passphrase are not stored on the hardware wallet device while also new different keys and addresses will be generated from the same seed phrase.

zasad@

legendary

Activity: 1694

Merit: 4213

Engineer hacks Trezor wallet, recovers $2M in 'lost' crypto
Hacker helps Trezor One owner who forgot his wallet passcode and seed phrase to recover cryptocurrency funds valued over $2 million.
https://cointelegraph.com/news/engineer-hacks-trezor-wallet-recovers-2m-in-lost-crypto
“We are basically causing misbehavior on the silicon chip inside the device in order to defeat security. And what ended up happening is that I was sitting here watching the computer screen and saw that I was able to defeat the security, the private information, the recovery seed, and the pin that I was going after popped up on the screen."

OmegaStarScream

staff

Activity: 3402

Merit: 6065

Quote from: ?? on ??

English version:

Hello,
I still have not received the transfer made on the 7th of december at 10:54 from
-snip-

Name of beneficiary: Coinbase Ireland Ltd
Bank name: AS LOHMUS, HAAVEL AND VIISEMANN / TALLINN
IBAN: EE26 7777 0000 8423 2416
BIC: LHVBEE22

Can you tell me why ? It's been 72 hours, we are on 12/10.

Do we have to validate something in particular? they told me IBANI that it was indeed a SEPA transfer. No money return on IBANI account for the moment.

Thank you for your reply,

According to this [1]. It should take up to 3 business days. I would wait for 24 hours, then reach out to the support, they're the only ones who can help you in this situation. Also, it might be a good idea to remove your bank account from your post.

[1] https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/payment-methods-for-european-customers

n0nce

hero member

Activity: 882

Merit: 5811

not your keys, not your coins!

Quote from: dkbit98 on September 04, 2021, 05:41:19 AM

Quote from: decodx on August 31, 2021, 07:27:58 PM

Anyone know the most popular hardware wallets of the new generation? I have been searching for a hardware wallet that is both new and reliable. I came across and was thinking of ordering Opolo Cosmos, but it's still not available. Is there anything similar that is verified?

There is no hardware wallet that can be new, verified and good, especially not Opolo wallet that is still in presale, it's like you are purchasing experimental cat in a bag.
If you are interested in hardware wallet check out few topics like LIST of Open Source Hardware Wallets and Hardware Wallets with Secure Elements to get better picture of your options.
Going exotic and checking Big List of Hardware Wallets is also an option, but I don't recommend experimenting so much with more than a crypto pocket money.
Best hardware wallet should ideally be Open Source, with secure element, airgapped and tested by security professionals.

I agree a lot with this, the tested by security professionals (independent ones) is often overlooked. A new product has not yet been 'tried and tested' thoroughly by the whole community, so bugs might and probably do still exist. Of course, to aid in the security analysis, open source code, firmware, and secure element, helps a ton because then you're not looking at a black box.

Quote from: Charles-Tim on September 04, 2021, 06:12:10 AM

Quote from: dkbit98 on September 04, 2021, 05:41:19 AM

Best hardware wallet should ideally be Open Source, with secure element, airgapped and tested by security professionals.

But it is quite always surprising that the two most sold wallets in the world, Trezor and Ledger Nano do not possess all these characteristics.

I think it's because they were the first well implemented wallets, then everyone recommended them and does to this day, even though there are much better alternatives, just because they're this well known by now.

We should always keep our 'recommendation list' for anything really, up to date based on recent developments, found exploits etc., and not just keep recommending something for 10 years imho Wink

Topic: [General] Bitcoin Wallets - Which, what, why? - page 9. (Read 138722 times)