It scared me to read bitcoiners post about the official Binance wallet (Trust wallet) not being an open source wallet, this has been my most favourite wallet option from a long time now. Sad.
These hardware wallets, i have been pondering on what makes them clearly any different from some of these popular open source hot wallets? Could it be that keys are tie to the hardware and cannot be exported or what please?
Topic: Good hot wallet recommendation (Read 316 times)
would you recommend some good hot wallets?
You could have mentioned the type of coin you want to keep on the wallet, not all wallets are multi coin supporter, for Bitcoin I'd go with electrum wallet or bread wallet and for others I will definitely choose trust wallet or atomic wallet, it's are just more easier with multi wallet as you don't have to keep switching from a wallet to another, it supports over 100+ altcoins including bitcoin itself 
It is Exodus hot wallet.
You should always avoid using and suggesting any wallet that has any closed source component or is fully closed source. Exodus is the former and must be avoided if possible, and since there are better options for a bitcoin wallet you should stick to them instead.I didn't know it is from Binance team but if it is then I consider it a lot riskier since centralized companies are not to be trusted in the decentralized world. For example a simple scenario is for the government to force them to include malicious code in their closed source software, and worse case scenario is them stealing your money when their company goes down.
My preference would be Electrum, especially because of:
- you own your private keys
- open source
- transaction fees can be customized
I would not recommend:
- cheap mobile wallets which can be easily infected
- multi coin wallets like Jaxx (horrible security)
- you own your private keys
- open source
- transaction fees can be customized
I would not recommend:
- cheap mobile wallets which can be easily infected
- multi coin wallets like Jaxx (horrible security)
I have been using this hot wallet for a long time and indeed this can be used which is recommended with very easy use and many people who have used a large number of features can be said to be multifunctional.
[1] https://www.coinomi.com/en/
[2] https://electrum.org/
Try to use this wallet for me, it is very friendly for beginners, of course it will suit this hot wallet.
[1] https://www.coinomi.com/en/
[2] https://electrum.org/
Try to use this wallet for me, it is very friendly for beginners, of course it will suit this hot wallet.
would you recommend some good hot wallets?
If bitcoin is the only coin you want to buy and hold them go for electrum wallet but if you are looking for a hot wallet that supports many altcoins the best one is trust wallet, mind you there are fake Electrum wallet on google playstore, you should try downloading through official website https://Electrum.org 
How about trust wallet? I heard this crypto wallet is half open source or something like that, I've been using it to store thousands of USDT since many months now and I have no issue using this wallet and for the fact that it's from binance team I feel more safer with this wallet, what's your answer on this?
Trust wallet was ones an open source before it was acquired by binance, but is now close source for android, and likely for iOS too as the last update was in December 2018. I do not think you should use a hot wallet. It is not safe at all. They have many technical issues, so I think you should stay away from them and use a cold wallet.
There are reputed hot wallets like electrum that you mentioned, but saving high amount of bitcoin on hot wallets is not advisable. Also saving for long term purpose will be best on cold wallet. But, for frequent wallet usage, cold wallet like electrum is still good, avoiding malware and protection your private key and seed phrase will be helpful in avoiding attackers. But if you ask me my recommendation, I will definitely recommend you a cold wallet.
Good cold wallets, 'trezor one' also is not bad- Ledger Nano X
- Trezor Model T
- Ledger Nano S
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How about trust wallet? I heard this crypto wallet is half open source or something like that, I've been using it to store thousands of USDT since many months now and I have no issue using this wallet and for the fact that it's from binance team I feel more safer with this wallet, what's your answer on this?
According to a post from reddit, it seems their iOS version is open source wallet but android version isn't open source which they have shown reason of getting cloned on google play. But I don't think it can be an excuse. I wouldn't trust that app since it's closed source.https://www.reddit.com/r/trustapp/comments/9nad8z/trust_wallet_is_not_really_open_source/
I do not think you should use a hot wallet. It is not safe at all. They have many technical issues, so I think you should stay away from them and use a cold wallet. However, if you want to use it, then you can use the Electrum, it is better, but security depends on you as long as your private key is with you then you are safe.
But if you ask me my recommendation, I will definitely recommend you a cold wallet.
Honestly Im getting tired of people saying that hardware wallets are the safest way to store coins when they actually works like a paper wallet, isn't the same with hot wallet as far as they are open source? I want to know more about this hardware wallet, using them won't we need to safeguard our private keys too? Just like every other crypto wallets? It's always about the private keys But if you ask me my recommendation, I will definitely recommend you a cold wallet.
- Ledger Nano X
- Trezor Model T
- Ledger Nano S
I do not think you should use a hot wallet. It is not safe at all. They have many technical issues, so I think you should stay away from them and use a cold wallet. However, if you want to use it, then you can use the Electrum, it is better, but security depends on you as long as your private key is with you then you are safe.
But if you ask me my recommendation, I will definitely recommend you a cold wallet.
But if you ask me my recommendation, I will definitely recommend you a cold wallet.
- Ledger Nano X
- Trezor Model T
- Ledger Nano S
It is Exodus hot wallet.
You should always avoid using and suggesting any wallet that has any closed source component or is fully closed source. Exodus is the former and must be avoided if possible, and since there are better options for a bitcoin wallet you should stick to them instead.It is Exodus hot wallet.
You should always avoid using and suggesting any wallet that has any closed source component or is fully closed source. Exodus is the former and must be avoided if possible, and since there are better options for a bitcoin wallet you should stick to them instead. would you recommend some good hot wallets?
You don't want to be stuck with a wallet that only accepts a single or two different coins like bitcoin and ethereum unless you don't have passion for other altcoins, it's more convenient if you go for multi wallet options like trust wallet or atomic wallet, these wallets supports many different types of altcoins, you can easily control all your altcoins in one box 
If you want great replies from the community, you might want to specify at least what device(or what OS) you're using, and what features you're looking for.
But in general, in my opinion:
Desktop: Wasabi Wallet https://wasabiwallet.io/
Mobile: BlueWallet https://bluewallet.io/
But in general, in my opinion:
Desktop: Wasabi Wallet https://wasabiwallet.io/
Mobile: BlueWallet https://bluewallet.io/
I see that you are new here, i would like to suggest electrum hot wallet to use but after i browsed i found a nice hot wallet to use for a new in crypto(especially bitcoin). It is Exodus hot wallet. So far i know, it has simple enough of user interface and exchange built in. You can also combine it with Trezor which is compatible for exodus. But beside that it is closed source software instead of open source. Nice enough to try this wallet.
You can find more about that here https://support.exodus.io/article/37-how-do-i-get-started-with-exodus
You can find more about that here https://support.exodus.io/article/37-how-do-i-get-started-with-exodus
would you recommend some good hot wallets?
for iOS, i recommend AQUA by blockstream. it's great for casual users---very simple and straightforward, single sig only, wrapped segwit by default. it also offers liquid sidechain support, if you're interested in that.
for desktop, i recommend electrum. it has the best UI of any wallet IMO, hands down. it also makes it extremely easy to set up an offline signing mechanism so you don't need to keep your keys online.
i would probably avoid keeping many coins on any android wallet. there's just so many security pitfalls. but in a pinch, i would recommend electrum.
It depends, there are reputed hot wallets, I too will recommend you electrum, electrum has been a good wallet, it is open source. Electrum wallet supports only bitcoin. But you also need to be very careful, you need to protect your wallet as you know no wallet is completely safe if you are making use of the device the wallet is in an inappropriate way like downloading files or clicking on ads that can contain malware, such can result to the wallet being attacked by hackers. Also, you need to download the wallet from the official site which is electrum.org.
Other than Electrum, Wasabi wallet is also a good choice. It is on the link that was given above. As long as that wallet gives you private keys or recovery words, choose that wallet as your hot wallet.
But the best as suggested is to own a hardware wallet. It will always be the best choice as a hot wallet.
But the best as suggested is to own a hardware wallet. It will always be the best choice as a hot wallet.
would you recommend some good hot wallets?
Without a doubt Electrum is the best hot wallet out there.
There is a mobile and a desktop version.
If you decide to later on upgrade to a hardware wallet you can still use your hardware wallet with electrum.
it depends on what platform you want. for both desktop (any operating system) and mobile (only Android) i suggest using Electrum (it doesn't have ios). it is light (SPV) and very user friendly. it is also open source and secure.
avoid all types ofweb wallets and custodial wallets that you don't have any control over the keys.
there is also bitcoin.org page that can help you choose a wallet: https://bitcoin.org/en/choose-your-wallet
makre sure to verify the signature of any wallet you download before installing them.
avoid all types ofweb wallets and custodial wallets that you don't have any control over the keys.
there is also bitcoin.org page that can help you choose a wallet: https://bitcoin.org/en/choose-your-wallet
makre sure to verify the signature of any wallet you download before installing them.
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