Help me in choosing wallet before I make mistake

EarnOnVictor

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Quote from: Woodie on May 15, 2023, 09:24:46 AM

Quote from: EarnOnVictor on April 22, 2023, 03:56:20 AM

Binance is a good choice if it fully operates in your country, you will be able to deposit and withdraw your money easily, and you can also trade with it.

Someone asks for help in choosing a wallet , why does Binance come up as a suggested wallet when everyone knows that this is an exchange (centralized exchange for that And looking at the reasons for choosing them, let's avoid these suggestions for the sake of convenience when it comes to ease of trading for other coins and the alike!

Let's advice our friends correctly especially when the notion of not your keys, not your wallet is being spread to allow users to have full control of their crypto assets!!

I simply don't know where this is coming from, nonetheless, you should think twice if you believe you can use me to collect cheap merit. You didn't guide the OP, all you could do is look for an excuse for what someone has perfectly advised, it's my opinion, share yours. Much advice has been shared and there were four extra options for the OP as suggested by me, all non-custodial wallets, so I don't know your headache, you should suggest yours and share value, not criticism. I can lecture you about wallets and exchanges if you want.

Binance is valuable to me and I used it alone for over 4 years before I have other wallets, plans vary, and the comfort and benefits it gives me till now others could not. As for the wallet, does my Bitcoin hang in the air when I send it to Binance? Meaning it has a wallet that holds it, right? It's you who needs learning and dynamism in thinking. Binance being an exchange doesn't mean it can't store your coin, it is multipurpose and I added it due to its advantage as the OP already heard about it.

What you could have reasonably said is that coins are risky on a custodial wallet regardless of being an exchange or not, which would have been constructive to an extent.

Woodie

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Quote from: EarnOnVictor on April 22, 2023, 03:56:20 AM

Binance is a good choice if it fully operates in your country, you will be able to deposit and withdraw your money easily, and you can also trade with it.

Someone asks for help in choosing a wallet , why does Binance come up as a suggested wallet when everyone knows that this is an exchange (centralized exchange for that And looking at the reasons for choosing them, let's avoid these suggestions for the sake of convenience when it comes to ease of trading for other coins and the alike!

Let's advice our friends correctly especially when the notion of not your keys, not your wallet is being spread to allow users to have full control of their crypto assets!!

Crypt0Gore

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Quote from: Grasper on April 21, 2023, 08:38:34 AM

Scam is everywhere, I fear for my money. They say the person who ask for help does not make a mistake. I want to own my first Bitcoin next week when my monthly salary is paid but afraid of jumping on any wallet to avoid losing my money.

The popular choices I know and hear from people are Binance, Blockchain, and Freewallet. Which one should I choose? I am just starting my bitcoin owning journey and it will be kind of the senior guys to show the way.

You can suggest better ones if there are any.

Freewallet, Blockchain wallet, and Binance wallet? That's very bad advice given to you, is that coming from a friend? Do tell them they know nothing about Crypto wallet, I want you to be very calm with yourself and don't rush.

I have been using my trust wallet for two years straight now and I have no bad news to share about the wallet, you can use Google to search for Freewallet reviews you will see too many bad experiences from the users.

If you want the best Bitcoin wallet that anyone can run on a Android phone it's ELECTRUM, this wallet can run on phones and PC, mind you it's for Bitcoin only, if you want multi chain wallet then use Trust Wallet.

What you need to be very careful about is your seed phrases, you will be warned by the wallet to keep them safe and never share with anyone, this seed phrases is the ultimate key and access to your wallet, if someone sees it they will steal your funds.

CryptopreneurBrainboss

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Quote from: summonerrk on April 23, 2023, 02:06:11 PM

All three options are terrible. Nevertheless, you did a reasonable thing to ask for advice, because hackers are increasingly breaking wallets and taking bitcoins from ordinary users of cryptocurrencies.
Of course, I want to advise you the best wallet is Trust Wallet. Its strongest advantage is open source. It turns out anyone can see how it works.

Trust wallets is also a terrible wallet and not the best suggestion to give either. They're not open source as they claim and there are speculation of them been a centralized wallet that can freeze your coins if you default against their terms and conditions as trust wallets is now a wallet under Binance control and whenever binance acquire any company, they become centralized immediately due to their mode of operation and plans of Binance to buy the whole industry and have manipulative power of the entire market.

If you're looking for a good and user friendly wallet to use then download electrum wallet. Electrum is a decentralized wallets, can work both on IOS and Android, can be downloaded on your phone, laptop and other devices. Electrum lets you select your fees at your will, it has the replace by fee option that you can use to accelerate your transaction in case if any delay of confirmation. Electrum is just the perfect wallets for anybody not looking to buy one of the hardware wallets available.

Stable090

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Quote from: Grasper on April 21, 2023, 08:38:34 AM

Scam is everywhere, I fear for my money. They say the person who ask for help does not make a mistake. I want to own my first Bitcoin next week when my monthly salary is paid but afraid of jumping on any wallet to avoid losing my money.

It’s a nice idea trying to invest in bitcoin, but I don’t know if you are having any knowledge about bitcoin, I will recommend you go and study about bitcoin first before buying bitcoin, don’t just jump into the investment you have little or no knowledge about, don’t blindly follow what people are saying. Also when in investing, you should Have it at the back of your mind that every investment is risky and you are likely to lose money, so have it in mind that you are likely to lose money after investing in bitcoin.

Quote from: Grasper on April 21, 2023, 08:38:34 AM

The popular choices I know and hear from people are Binance, Blockchain and Freewallet. Which one should I choose? I am just starting my bitcoin owning journey and it will be kind of the senior guys to show the way.

First avoid storing your coin on Binance exchange, it’s not only binance, avoid storing your coin on any exchange, the only thing I will recommend you do with your exchange account is to purchase your bitcoin, immediately after purchasing, make sure you withdraw it to your non custodial wallet address, where their is no internet connection.

kamvreto

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Quote from: ItsCrafty on May 12, 2023, 08:02:37 AM

Quote from: summonerrk on April 23, 2023, 02:06:11 PM

hackers are increasingly breaking wallets and taking bitcoins from ordinary users of cryptocurrencies.
Of course, I want to advise you the best wallet is Trust Wallet. Its strongest advantage is open source. It turns out anyone can see how it works.
That's great!
Few wallets can boast of this. Also, a lot of reputable people recommend it.

https://trustwallet.com/ru/

There is no doubt that hackers are getting into many wallets these days.But there are also such wallets where it becomes difficult to access them.

Of course trust wallet is a good wallet but hackers often gain access to it,And I have heard many people losing their assets in this wallet to hackers.In my opinion, if a hard wallet is used instead of this wallet, the risks are much less.Hard wallet is an excellent and very secure wallet.
Your capital will be very safe in the hard wallet and it is not easy for hackers to enter here, rather it is somewhat impossible for hackers to enter.

But be careful to buy it from the official website because there is a risk of hacker attack if you buy from other online platforms.

The best wallet is a Hardwallet, and when compared to a trustwallet, of course it's better to use a hardwallet. Wallet security also depends on how the user uses his wallet. usually hackers will set up traps so that they access phishing websites and make connections so that the wallet can be hacked.
many incidents about hacking of mobile wallets like trustwallet.

Jon_Hodl

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I have tried a number of wallets but since you're new, I would start with Blue wallet and learn how wallets work and how to send and receive with custom miner fees etc.

Once you are comfortable with using Blue and want a wallet with the highest level of functionality, I would suggest using Sparrow wallet. I can't think of anything that Sparrow can't do. It is literally the best wallet I have ever used.

- single sig
- miltisig
- all of the different script types
- time locks
- Hardware wallet integration
- BIP 32, 39, 44, 174 and others
- CoinJoin and PayJoin
- Coin control
- custom miner fees
- fee bumping

Pretty much anything you can think if, Sparrow supports it.

summonerrk

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Quote from: ItsCrafty on May 12, 2023, 08:02:37 AM

Quote from: summonerrk on April 23, 2023, 02:06:11 PM

hackers are increasingly breaking wallets and taking bitcoins from ordinary users of cryptocurrencies.
Of course, I want to advise you the best wallet is Trust Wallet. Its strongest advantage is open source. It turns out anyone can see how it works.
That's great!
Few wallets can boast of this. Also, a lot of reputable people recommend it.

https://trustwallet.com/ru/

There is no doubt that hackers are getting into many wallets these days.But there are also such wallets where it becomes difficult to access them.

Of course trust wallet is a good wallet but hackers often gain access to it,And I have heard many people losing their assets in this wallet to hackers.In my opinion, if a hard wallet is used instead of this wallet, the risks are much less.Hard wallet is an excellent and very secure wallet.
Your capital will be very safe in the hard wallet and it is not easy for hackers to enter here, rather it is somewhat impossible for hackers to enter.

But be careful to buy it from the official website because there is a risk of hacker attack if you buy from other online platforms.

Correct. For now my opinion is changed about Trust.
I recently wrote a post in my locale on this topic, here is its translation:
There have been discussions about its reliability. The code is closed (it is often written that it is open source, as far as I remember there is only a link to the dusty git version for iOS with the last commit of 2018), and the certification was also carried out by a muddy office. The same MEW or Electrum source codes are open.
A strange moment: On Google Play, he has a high rating, like 4.7, unlike Electrum, which has 3.6, while the latter has a lot of strange reviews with units, they say money is disappearing, etc. The feeling that someone is doing Electrum anti-advertising.

ItsCrafty

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Quote from: summonerrk on April 23, 2023, 02:06:11 PM

hackers are increasingly breaking wallets and taking bitcoins from ordinary users of cryptocurrencies.
Of course, I want to advise you the best wallet is Trust Wallet. Its strongest advantage is open source. It turns out anyone can see how it works.
That's great!
Few wallets can boast of this. Also, a lot of reputable people recommend it.

https://trustwallet.com/ru/

There is no doubt that hackers are getting into many wallets these days.But there are also such wallets where it becomes difficult to access them.

Of course trust wallet is a good wallet but hackers often gain access to it,And I have heard many people losing their assets in this wallet to hackers.In my opinion, if a hard wallet is used instead of this wallet, the risks are much less.Hard wallet is an excellent and very secure wallet.
Your capital will be very safe in the hard wallet and it is not easy for hackers to enter here, rather it is somewhat impossible for hackers to enter.

But be careful to buy it from the official website because there is a risk of hacker attack if you buy from other online platforms.

summonerrk

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Quote from: Grasper on April 21, 2023, 08:38:34 AM

Scam is everywhere, I fear for my money. They say the person who ask for help does not make a mistake. I want to own my first Bitcoin next week when my monthly salary is paid but afraid of jumping on any wallet to avoid losing my money.

The popular choices I know and hear from people are Binance, Blockchain and Freewallet. Which one should I choose? I am just starting my bitcoin owning journey and it will be kind of the senior guys to show the way.

You can suggest better ones if there are any.

All three options are terrible. Nevertheless, you did a reasonable thing to ask for advice, because hackers are increasingly breaking wallets and taking bitcoins from ordinary users of cryptocurrencies.
Of course, I want to advise you the best wallet is Trust Wallet. Its strongest advantage is open source. It turns out anyone can see how it works.
That's great!
Few wallets can boast of this. Also, a lot of reputable people recommend it.

https://trustwallet.com/ru/

Hyphen(-)

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Quote from: Grasper on April 21, 2023, 08:38:34 AM

The popular choices I know and hear from people are Binance, Blockchain and Freewallet. Which one should I choose? I am just starting my bitcoin owning journey and it will be kind of the senior guys to show the way.

You can suggest better ones if there are any.

If you truly want to be in control of your coin, I recommend that you calm down and learn the basics of keys and addresses before you begin investing in Bitcoin.

Binance is a centralized exchange; they will require your personal information before you can use their exchange, which means they will have control over your Bitcoin because you are leaving it in their custody, which is risky.

I suggest you go through This to learn more on how to secure your Bitcoin and how to use your wallets.

Lida93

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Quote from: Grasper on April 21, 2023, 08:38:34 AM

Scam is everywhere, I fear for my money. They say the person who ask for help does not make a mistake. I want to own my first Bitcoin next week when my monthly salary is paid but afraid of jumping on any wallet to avoid losing my money.

The popular choices I know and hear from people are Binance, Blockchain and Freewallet. Which one should I choose? I am just starting my bitcoin owning journey and it will be kind of the senior guys to show the way.

You can suggest better ones if there are any.

Binance is a centralized exchange and is strictly not a recommended place to keep your money, except for a pretty trade's, and as means of deposit but expect much KYC requirements. But if you're one of those not cool with KYC, then you go for AgoraDesk a good P2P exchange with no KYC requirements, well known for privacy and security.

For a choice of wallet to use for your bitcoin storage I think I'll recommend Electrum wallet, it's non-custodian, simple for newbies to easily get along with. Check this guide: Electrum wallet for beginners and advanced users (by BitCryptex) https://bitcointalksearch.org/topic/tutorial-how-to-use-electrum-for-beginners-3456040

Yamifoud

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Quote from: Grasper on April 22, 2023, 03:51:26 PM

Thank you everyone for contributing and guiding me on this choice, it was a tough choice since yesterday through to today. I stressed my brain before I finally made my choice. I read through your advice and preferences and go through links provided by many and I did my research online to get more clarity.

In the end, the winner is Electrum wallet. I trust not to regret this but will not buy in large scale at first.

Perhaps, a lot of investors/holders are using this platform and the current number is quite growing fast, and they never encounter problems with their wallets. Because as a beginner, it was not necessary to buy a hardware wallet, especially if you are just about to spend small amounts, it is not worth it anyway.

We may hear about hacking, electrum wallet has no escaped from this but it was not because it was weak or something the security is not on the highest level. It happens because the owners of said wallet are so careless, yes it really depends on us no matter what kind of wallet it is.

Husna QA

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Quote from: acroman08 on April 21, 2023, 08:55:23 AM

anyway, you can also check this thread [General] Bitcoin Wallets - Which, what, why? if you want more choices and info and feedback from members.

Some of the wallets mentioned in the thread's first post are outdated, for example, Jaxx Liberty, which is no longer available (https://blog.jaxx.io/jaxx-liberty-sunsetting-update/); Cobo Vault, which has changed to Keystone hardware wallet (https://blog.keyst.one/leaving-cobo-to-continue-the-cobo-vault-legacy-29bb2f8f026e).

Quote from: wahyuagung26 on April 21, 2023, 09:23:14 AM

-snip- if the quantity is large we recommend you to try to get a hardware wallet, for example like Electrum they say so far very safe. maybe there are some other trusted secure hardware wallets you can try.

Electrum is not a hardware wallet; I think you are confused about understanding the types of wallets.

Quote from: Grasper on April 22, 2023, 03:51:26 PM

Thank you everyone for contributing and guiding me on this choice, it was a tough choice since yesterday through to today. I stressed my brain before I finally made my choice. I read through your advice and preferences and go through links provided by many and I did my research online to get more clarity.

In the end, the winner is Electrum wallet. I trust not to regret this but will not buy in large scale at first.

Perhaps some of the following documents about Electrum will be useful:
- https://electrum.readthedocs.io/ (Official documentation)
- https://bitcoinelectrum.com/ (Unofficial guide - by Abdussamad)

Negotiation

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Quote from: mikeywith on April 22, 2023, 07:51:06 PM

I know many people think Trezor is a great hardware wallet with open-source code that is "approved" by the community and all that, to me, they are hurting the fungibility of Bitcoin and I would never use or support them.

I also agree with you that although many people support the use of Trezor, I think that using Trezor on multiple devices is a bit complicated, mainly because Trezor is one device so it is a problem for many people to use. However, Trezor promises to provide a slightly more secure service than other software base wallets, which is supported by many people (I was also supportive at one time).

Note: But I think that with some user awareness and the use of the right software, so software-based wallets also play a very important role. (Preferable software base Wallet ).

omoniy1

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The fine manner to keep bitcoin is to save it in a stable, offline pockets. This may be a hardware pockets like a Ledger or Trezor, or a software program pockets like Electrum or Bitcoin Core this is mounted on a pc that isn't always linked to the internet. It's vital to make certain which you have a backup of your pockets's personal key or seed word if you lose get admission to for your pockets. Additionally, it is vital to take steps to guard your personal keys or seed word from robbery or loss, including storing them in a stable vicinity and now no longer sharing them with anyone.

mikeywith

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be constructive or S.T.F.U

Quote from: Peanutswar on April 22, 2023, 02:21:34 AM

But if you have money same can have an investment suitable to buy a trezor

He shouldn't use Trezor even if it was for free, let alone make an investment, Trezor uses zkSNACKs aka Wasabi Wallet, a service that censorship transactions based on a dozen of reasons only to "protect themselves" from the law and biased governments, mind you that Trezor did not have to use Wasabi as there are a dozen of other alternatives, in fact, they did not need to implement CoinJoin in the first place, but seems like an excuse to please the authorities while pretending to be offering "privacy and anonymity" to its users.

I know many people think Trezor is a great hardware wallet with open-source code that is "approved" by the community and all that, to me, they are hurting the fungibility of Bitcoin and I would never use or support them.

Nheer

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Quote from: Grasper on April 21, 2023, 08:38:34 AM

Scam is everywhere, I fear for my money. They say the person who ask for help does not make a mistake. I want to own my first Bitcoin next week when my monthly salary is paid but afraid of jumping on any wallet to avoid losing my money.

This is really considerate of you, and asking your question here is the best course of action when you have questions on a topic involving bitcoin or other cryptocurrencies. Due to their lack of experience, beginners are constantly exposed to scams and are more likely to fall prey to them. One can quickly lose their assets if wallets are handled improperly, therefore you must be very careful. You must use caution when handling wellets even after selecting one. Before making a bitcoin purchase, you must read all wellet handling instructions.

Quote from: Grasper on April 21, 2023, 08:38:34 AM

The popular choices I know and hear from people are Binance, Blockchain and Freewallet. Which one should I choose? I am just starting my bitcoin owning journey and it will be kind of the senior guys to show the way.

You can suggest better ones if there are any.

Binance is not an ideal place to store your bitcoin, it's an exchange where buy sell bitcoin and also trade your bitcoin into other coins. Your wallets private key is what gives you access to your coins and whosoever have access to your private key can access you coins, and with binance your private key is not in your possession so you don't have total control over your assets. We have heard of how exchanges were hacked and how some exchange owners have scammed their customers and run away with customers assets. Always remember "Not your keys not your coins".

I'll recommend you go through this post and select a convenient wallet of your choice [General] Bitcoin wallet - Which, What and Why?

I wish you well in your crypto journey.

Sarah Azhari

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Quote from: wahyuagung26 on April 21, 2023, 09:23:14 AM

if the quantity is large we recommend you to try to get a hardware wallet, for example like Electrum they say so far very safe. maybe there are some other trusted secure hardware wallets you can try.

Electrum is not a hard wallet. Electrum is a software wallet

Quote from: boyptc on April 21, 2023, 05:43:52 PM

Aside from these recommended desktop wallets.
...
- Samourai

No, Samourai is not for desktop wallets, Samourai is just for phone wallets/for Android only,
except Whirlpool.

Quote from: Grasper on April 22, 2023, 03:51:26 PM

In the end, the winner is Electrum wallet. I trust not to regret this but will not buy in large scale at first.

Good for you, from today you have learned how to sign in offline, and online, only for broadcast.
do not reverse like people did dude, this is a crypto world where only you control your asset.

uchegod-21

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Quote from: Grasper on April 21, 2023, 08:38:34 AM

Scam is everywhere, I fear for my money. They say the person who ask for help does not make a mistake. I want to own my first Bitcoin next week when my monthly salary is paid but afraid of jumping on any wallet to avoid losing my money.

The popular choices I know and hear from people are Binance, Blockchain and Freewallet. Which one should I choose? I am just starting my bitcoin owning journey and it will be kind of the senior guys to show the way.

You can suggest better ones if there are any.

Good that you asked.
But if I may ask, have you taken your time to read around this forum? Especially in this beginners and help board, a post by Lauda was pinned and it explained about wallets and the rest of them. You can read it here https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151.

Any further confusion, feel free to ask questions and reply in this thread. That is how to learn, don't read and keep mute.

Topic: Help me in choosing wallet before I make mistake (Read 437 times)