hot wallet \ buying bitcoin | Bitcointalksearch.org

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legendary

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Quote from: Dakarai on July 06, 2021, 09:00:39 AM

i use "trust wallet" but i know that if i will writh\copy something wrong in the adress i will lost the bitcoin so i prefer to check this twice

It'll be difficult to enter an incorrect address due to the checksum/error checking built in to the addresses.

As the others have mentioned, it's clipboard jacking malware that is the danger there and can be mitigated by simply confirming the address with your Mark.I eyeballs at least once and maybe twice before clicking "send" or confirm etc Wink

Trust Wallet supports BIP39 as far as I know, so you should be able to create your wallet and get the 12 word recovery phrase. Make a note of your receive address, then delete the wallet... and then restore it from your recovery phrase and make sure the receive address matches the original. That'll confirm your wallet and recovery process are working BEFORE you really need it! Wink

As for testing it... the only way to really do it with Trust Wallet is to send a small amount... start with sometime small if possible, although be aware that if you attempt to do this when fees are high, you could end up losing a significant amount to the fee. Do you have any friends with Bitcoin that might be willing to assist by sending you $5 worth of Bitcoin that you can then pay them for or send back to test? Huh

nc50lc

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Quote from: Dakarai on July 06, 2021, 09:11:16 AM

Quote from: nc50lc on July 06, 2021, 02:25:48 AM

There's no other way to test a transaction but to actually send a small amount.
-snip-

thank you for helping.
its good idea but most of the place start sell B from 50$ and for me its a lot ( i want to spend like 100-200$ for now) .

Regarding the other reply about the checking the validity of an address using a blockexplorer,
I think it's not necessary because addresses have a checksum which is used to make sure that a typo will most likely produce an invalid address.
If you made a typo in the site where you'll buy bitcoins, it should detect that it's invalid (unless if the site is badly written).

Take note that there're some blockexplorers that don't check the address' validity like blockchair.

For your original query:
You better off checking a few of the first, middle and last characters of the address just to make sure.
There are variants of the mentioned "malware" by others that can mimic the first and last few characters of your address, so include the middle parts to your checklist.

There are also fake versions of known wallets, Trustwallet isn't an exception, so make sure that you're using the legit version.

sheenshane

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Quote from: Dakarai on July 06, 2021, 09:00:39 AM

i use "trust wallet" but i know that if i will writh\copy something wrong in the adress i will lost the bitcoin so i prefer to check this twice

Not twice but thrice, check the last and the first digits, but commonly this will happen if your device used was compromised and have a malware infection. You should be careful with every transaction because once it will be confirmed, this is irreversible, not unless if you have full control of the recipient's address.

Trust Wallet is good but I don't think if you like the features they had not like Electrum that has a high level of security of all hot wallets, the customizable fee (neither Opt-In RBF nor CPFP is an option), and can able to customized the seed phrase. If you're going to transfer in a cold wallet this is also compatible with most hardware wallets.

But it's your choice, this is only a tip.

LoyceV

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Quote from: Dakarai on July 06, 2021, 09:00:39 AM

if i will writh\copy something wrong in the adress i will lost the bitcoin so i prefer to check this twice

If you make a mistake typing a Bitcoin address, it's very unlikely to produce a valid address. Clipboard malware is a much bigger risk when coping an address.

Dakarai

newbie

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Quote from: nc50lc on July 06, 2021, 02:25:48 AM

There's no other way to test a transaction but to actually send a small amount.

For your peace of mind, you can say the name of the "hot wallet" and the Exchange or Service where you'll buy the bitcoins.
If both are legit, you can safely assume that you'll receive the bitcoins as long as you copied the receiving address correctly.

thank you for helping.
its good idea but most of the place start sell B from 50$ and for me its a lot ( i want to spend like 100-200$ for now) .

Dakarai

newbie

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Quote from: SFR10 on July 06, 2021, 02:32:05 AM

Quote from: Dakarai on July 06, 2021, 02:10:46 AM

There is a way to check if my wallet address realy work befor buying bitcoin?

If by working, you meant if it's a valid address, then yes; there are a few ways and the easiest one is to copy your address into any of the explorers; If it's valid, it'll show up...

Add your address to the following link:

Code:

https://www.blockchain.com/btc/address/

Take note of the "above two posts".

thanks you! its what i needed to find.

its writh me this (so i assumes this adress work):

https://i.ibb.co/xCRQxtv/87605b1e-fdbb-4886-bc05-e088cd4dbc7d.jpg

i use "trust wallet" but i know that if i will writh\copy something wrong in the adress i will lost the bitcoin so i prefer to check this twice

LoyceV

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For my own piece of mind, I like to confirm I can recreate the same address from the backup I made. So if you use Electrum, use the restore option to create a new wallet from your seed word backup, and confirm you get the same address.

Ideally, I prefer to use different software to confirm the seed words (or private keys) produce the same address, but that's slightly more complicated (you want to do this off-line). For what it's worth: I've never found an inconsistency with wallet software, but I did once catch my own mistake in writing down the seed words.

NotATether

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Quote from: Dakarai on July 06, 2021, 02:10:46 AM

hi i new in bitcoin and I recently opened hot wallet and now i wont buy bitcoin (like in 100$ or 200$). There is a way to check if my wallet address realy work befor buying bitcoin? I'm scared that the bitcoin will not come to the wallet or thinks like this end i loss the money.

If the wallet address has been generated by wallet software, a web wallet, or exchange, they should all work. None of these can afford to have bugs that generate an invalid address because an invalid address is one that does not have any private key, and nearly all addresses do have a private key with the few exceptions being funny-looking "bitcoin eater addresses" e.g. like 1dr55555555555 (more fives) whose private keys are not known yet.

mocacinno

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One extra thing you can do if you feel insecure is trying some transactions on the testnet.

A lot of popular wallets can be started in testnet mode (for example, electrum and core). Others have a testnet version for testnet use only.

Start your desktop wallet on the testnet, google for testnet faucets, claim some tBTC and move it around for a while untill you feel confident about what you're doing (then send the leftover of the tBTC back to the faucet). Sign some messages, create a tBTC paper wallet, fund it, sweep it, create a second wallet, play around with the fees for a while, .... tBTC is worthless, so worst that can happen is you losing some time...

SFR10

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Quote from: Dakarai on July 06, 2021, 02:10:46 AM

There is a way to check if my wallet address realy work befor buying bitcoin?

If by working, you meant if it's a valid address, then yes; there are a few ways and the easiest one is to copy your address into any of the explorers; If it's valid, it'll show up...

Add your address to the following link:

Code:

https://www.blockchain.com/btc/address/

Take note of the "above two posts".

NeuroticFish

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Quote from: Dakarai on July 06, 2021, 02:10:46 AM

hi i new in bitcoin and I recently opened hot wallet and now i wont buy bitcoin (like in 100$ or 200$). There is a way to check if my wallet address realy work befor buying bitcoin? I'm scared that the bitcoin will not come to the wallet or thinks like this end i loss the money.

It would be of help if you'd be able to tell what wallet have you installed.
For example, if it's Bitcoin core you should make sure you have enough space on your HDD (300+ GB!) and I'd make sure I understood that the funds will be visible only after the whole blockchain is synced.
If it's Electrum, I'd ask if it's connected to servers and if your seed is backed up 100% safe.

Now to your question, one easy way to make sure your address is indeed yours (your wallet is not watch-only) would be to sign a message with your address. This operation is somewhat similar to spending your coins: it needs the private key.

nc50lc

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Self-proclaimed Genius

There's no other way to test a transaction but to actually send a small amount.

For your peace of mind, you can say the name of the "hot wallet" and the Exchange or Service where you'll buy the bitcoins.
If both are legit, you can safely assume that you'll receive the bitcoins as long as you copied the receiving address correctly.

Dakarai

newbie

Activity: 3

Merit: 7

hi i new in bitcoin and I recently opened hot wallet and now i wont buy bitcoin (like in 100$ or 200$). There is a way to check if my wallet address realy work befor buying bitcoin? I'm scared that the bitcoin will not come to the wallet or thinks like this end i loss the money.

Topic: hot wallet \ buying bitcoin (Read 194 times)