Topic: How do I secure my wallet - page 3. (Read 949 times)

Trust wallet App is more secure and reliable by store your Bitcoin, and by making sure you're wallet is secured have to saved the phase code of the wallet and like wise the password login and no condition make you to connect your wallet to a website as a result of claiming airdrop, that is a big mistake most people make and lost of funds. As long is wallet address transaction only been make in the wallet, that is simply means you're wallet is secured.

Trust wallet is a closed source and it's from the binance team too, something bad happened to the Trust wallet add-on wallet some time ago where some people lost their assets but Binance refunded all of them because the incident have something to do with the new addon from the team, the only exchange that's capable of refunding users for any losses that happens from their side is Binance.

I am not encouraging anyone to start storing their assets on Trust wallet because of possible refund if any bad thing happens, I still believe that open source wallets are better and if multi-coin wallet is your thing, Blue wallet and Unstoppable wallet are the best open source wallet I can find. DYOR

Basically prevention is better than defense so we should give utmost importance in choosing a wallet. Choose a wallet that has more security. Because if the wallet is more secure then no one can easily access that wallet. To keep the wallet secure, you need to adopt some strategies such as keeping your wallet information only with you. If you login to your wallet on mobile or computer, you must enter a strong password on your device so that no one but you can login to your device. Thus if you can adopt some strategies then you can keep your wallet safe

As a investor must keep in mind the one matter are and at future what you will invest are you all for applications and no one is given atom and one good secrete or private keys to yourself its not to be a safe and today all not unable to hide and in todays life hardware wallet is popular in all wallets and kept this kind wallet and today some one to hide and the fail and you learn about  to how keep safety  and this are the my opinion .

Trust wallet is closed source and i will not recommend it or MetaMask for someone who is looking for a wallet to store only their BTC. I don't recommend people to use multi-coin wallets to store their BTC and other shitcoins, it is better to use Electrum to store your BTC's safely and then choose another multi-coin wallet for all your other cryptocurrencies.
BTC in itself cannot be hacked, it is not centralized, but people who have BTC in their wallets can be hacked and their funds would be stolen, but that is if they have bad operational security or are just unlucky.

If you intend to invest Bitcoin long term and have no plans to trade, then don't store your bitcoins on an exchange. Not all centralized exchanges are bad, but exchanges like Binance are different because they have been in the market for a long time. Your friend's advice is correct and you should also remember that your wallet key and other information cannot be shared with friends, acquaintances or strangers.  They may try to take your wallet seed from you in an opportunity to suggest, but never make this mistake.It's important to consider the risks involved in holding exchanger funds so using a non-custodial wallet like Electrum would be better for long-term holdings.

The only thing you need to keep in mind as an investor is that you have never given anyone access to all of your uses regarding what you are investing in the future. I know that finding a good wallet is a good idea, but even if you have a good wallet and you can't keep the secret or private keys to yourself it's not safe, many people today fail because they are unable to hide their secrets.
Hardware wallet is among the most popular wallets today, none of the wallets that are introduce to you here are bad; rather, my point is that you should learn how to protect your private key.

Investing in Bitcoin is one of your best strategies that will prove in the future that you made a great decision. always keep your investment in your personal wallet. there are two types of wallets in personal wallet, one is soft wallet and the other is hard wallet.

Among the soft wallets, MetaMask wallet and Trust wallet are considered very good which you can download for free. While hard wallets you have to buy online, some are quite expensive and some are available at reasonable prices. among which Ledger nano X and Safe Pal Wallet are considered good. A few days ago, there was a news regarding the update of Ledger, due to which it faced a lot of criticism. Whereas I have Safe Pal wallet and have been using it for the past one year and consider my investment safe here.

Always keep one thing in mind whether it is soft wallet or hard wallet always keep your seed safe and don't give it to anyone.

We are aware that hacking bitcoin is not so easy. Here you asked which wallet is more secure to exchange or buy cryptocurrency. Not only bitcoin there are many other cryptocurrency platforms like ethereum, polygon etc. We must keep them in secure wallet. Many wallets. There are like coinbase, etoro, robinhood and many more. I think if you put in any one of them you can keep your assets safe in wallet.

Closed-source wallets have practically no code visibility unless you want to reverse-engineer the executables. Who has time and knowledge for that?



Atomic Wallet users were recently hacked, solid details on how the hack was executed are still missing and to my knowledge so far Atomic Wallet's investigations are too slow for my taste or maybe lack competence or are silent to hide embarassing flaws of their product.

How can you say that Atomic Wallet and Exodus are open-source? To my knowledge both are closed-source and particularly audits of Atomic Wallet revealed many issues which were not resolved by creators of Atomic Wallet, forcing the auditing company to publish their findings and concerns. (Maybe not the best source to quote: https://cryptonews.net/news/security/3138745/ but better than nothing.)

Saying whether bitcoin is a valuable asset or not returns to everyone's beliefs and perspectives because we also won't be able to impose what is said to be good or not in this case considering that what we think is good may not necessarily be as good according to other people. so that in this case we can only feel ourselves regardless of the views of others, let them judge according to the perspective they feel.
On the other hand, when talking about wallets, it's really good not to use what your friends suggest, maybe you can if the goal is trading, but when talking about investments, I personally prefer something safer than that.
A better suggestion might be Hard Wallet because apart from anything the security and comfort are also quite felt for this, as long as we don't provide seeds or anything related to our wallet I think it will be very safe to be there at least that's how I feel until now.

Actively trading or not, mate it is not advisable to keep your assets and funds with exchanges. There is no degree of confidence in exchange that would allow or should make an investor leave their funds with them. Atleast it is there for them to investigate on the well known exchange that got hacked and those that misappropriated investors funds. These are the research one should do before thinking of anything about exchange because even the best sophisticated exchange can fall for hackers. It has happened to ftx, it happened to binance years back based on my research findings notable exchanges have been hacked before so have a rethink before jumping to conclusions.

Currently there are very many wallets that we can use to store Bitcoin assets, and you can choose for yourself which one is easier to use and the Google Play Store has also provided many crypto wallets so those of us who already have assets and start investing in crypto then we can easily find many wallets there, And for wallet problems we must be careful because all for the security of the assets we have.

Some traders and investors choose to keep their assets on exchanges, especially if they are actively trading or have a degree of confidence in the security measures of the exchange. However, it is important to consider the risks involved in holding funds on an exchange, as there have been cases of exchanges being hacked or experiencing other security breaches. Using a non-custodial wallet like Electrum to store Bitcoins is a good choice for long-term holdings, as you have full control over your private keys and are not dependent on third parties. Electrum has been around for a long time and has a solid reputation in the Bitcoin community. As for altcoins, Trust Wallet and MetaMask are actually popular non-custodial wallets that support multiple cryptocurrencies. So choosing where to store your assets depends on your risk tolerance, comfort level, and specific security features, as well as the reputation of the wallet or exchange you choose.

They are not accepting because they don't know the value of it. And also add it to what you have said, bitcoin is not only an asset but also a currency. It is a digital currency exchange for goods and services, so don't tell someone that bitcoin is an asset alone but add the currency as well.

There are different non custodian wallets which you can use to store your bitcoins. You can use either mobile app or desktop software. And the Electrum Wallet you mentioned is also a nice wallet to be used. So if you like it then you can go for it.

You are entirely correct A respected wallet that provides a safe and convenient environment for storing and managing cryptocurrency is called Electrum Wallet. When it comes to centralised exchanges it is crucial to exercise caution because they may be open to government intervention and hacking operations.Choose from thses secure wallets like Electrum or Wasabi gives you more control over your money and lowers the likelihood that it will be stolen.These wallets offer individuals exclusive control over their private keys ensuring that they are the sole individuals with access to their funds. It is wise to assume responsibility for your own security and select reputable wallets especially for long term coin storage.

We can't really be too certain something wrong won't happen with this. I've read something here where a user got hacked while trying to update their wallet and all the funds moved out. I don't know how that happened but it was a shock anyway.

Doing this regularly will easily expose your wallet. Someone can stumble on where the littered vitals are hidden and the funds are gone just like that. Limit doing this. I make a copy of mine only once. I don't even keep it like something I'm hiding. I keep it where I keep other regular stuff so that even if anyone stumbles of it, they won't know it's something important. I'm practicing that principle of the best way to hide something is to expose it or put it in the open.

This should've come as number one warning to heed to on the list.

This is apt! For those who think they want to save cost by using public WiFi to assess anything confidential, they aren't doing themselves any good. Wifi in the public space should be for less serious browsing or Netflix and all of that, not something that involves high level of privacy.

For the security of your wallet, I suggest you to use a hardware wallet. No matter how hard you try to keep your software wallet assets safe, it will never be possible at your risk. You can find many hardware lists from open source. And as long as you can't provide security for your wallet, you can keep your asset on a good exchange.
See the Hardware wallet lists

Actually it highly recommendable by anyone who knows about a custodial wallet and none custodial wallet to recommend an Electrum wallet as a wallet that have a protective security in terms wallet accessibility from another person, it's crystal clear that Electrum wallet is serves as one of potential and credible wallet we can use and no one can penetrate into our wallet, so therefore having the wallet called Electrum as an wallet that have high rate of security does not mean that the seed phrase should be exposed or been documented online, because if a seed phrase is been exposed to public their is every tendency that your coin Electrum wallet can be transfer through the process of importing the wallet through the seed phrase, so in summary our seed phrase is our majority key or priority to be secured base on inability of accessibility or having access to your wallet irrespective the wallet.

It is critical to secure your crypto wallet in order to protect your digital assets from unauthorized access or theft. Here are some measures you may do to improve the security of your cryptocurrency wallet:

1. Choose a reputable wallet: Select a well-established wallet with a strong track record of security. There are different types of wallets, including hardware wallets, software wallets, and online wallets.

2. Use strong and unique passwords: Create a strong and complex password for your wallet that includes a combination of uppercase and lowercase letters, numbers, and special characters. Avoid reusing passwords across different platforms to minimize the risk of a password breach.

3. Enable two-factor authentication (2FA): Activate two-factor authentication for your wallet whenever possible. This adds an extra layer of security, in addition to your password.

4. Keep your software up to date: Regularly update your wallet software to ensure you have the latest security patches and bug fixes.

5. Backup your wallet: Make regular backups of your wallet and store them securely offline. This could involve creating a physical copy of your wallet's private keys or mnemonic phrase and keeping them in a safe place. Ensure the backup is encrypted and not easily accessible to others.

6. Be cautious with online interactions: Exercise caution when interacting online, as phishing attacks and malicious software can compromise your wallet's security. Avoid clicking on suspicious links or downloading files from untrusted sources.

7. Secure your devices: Keep your devices, such as computers and mobile phones, protected with up-to-date antivirus or anti-malware software.

8. Use cold storage for long-term holdings: Consider storing a significant portion of your cryptocurrency in cold storage. This helps protect your funds from online threats.

9. Be mindful of public Wi-Fi: Avoid accessing your wallet or conducting transactions using public Wi-Fi networks, as they may be unsecured and susceptible to interception.

10. Educate yourself: Stay informed about the latest security practices and potential threats in the crypto space. Regularly educate yourself on best practices and be cautious of scams or fraudulent schemes.

NOTE : Securing your crypto wallet is your responsibility, and taking proactive steps to protect your assets is essential.

Thanks !!