Topic: How do i set up a wallet as a beginner? (Read 171 times)

Since you are a beginner you'll find the easiest experience with a 3rd party website, such as Coinbase.com, because they handle everything for you. It may be a good idea to start with them just to familiarize yourself with how things work. Use small amounts. They also have a mobile app and their security is good.

As you get more comfortable you can move away from Coinbase (or keep them for only smaller amounts). There are a couple reasons for moving to a wallet you completely control yourself, such as Electrum. First, with Coinbase your identity and coin use is not private. If you will use your money for anything in a legal gray area, such as gambling, your account may be frozen or closed. Second, as people will tell you here, it's always best to control your own coins (the private keys) because that's the only way you're sure you own them. With others you only have an IOU. That's not so bad with a company with Coinbase as they're very large and professional, but you should be careful with others.

For larger amounts use a hardware wallet such as Ledger. Another good option between a 3rd party and running your own software is blockchain.info. With them you generate your own private keys using scripts in your browser. They also have a mobile app. They're a great option to get up and running fast and experiment and learn. However, remember they are not the same as completely controlling your coins yourself, because you're trusting the software they give you. Hope this helps

If you want access on your phone, look into samourai wallet. It supports segwit, lets you control your private keys (no need for a third party) and it let's you create a mnemonic seed for recovery purposes. It has other favorable features that you can check out for yourself on their website https://samouraiwallet.com/index.html

There are other mobile phone wallet options out there but always opt for a wallet that allows for your keys to be in your control. Leaving funds on an exchange site, or a third party as you say, is never recommended seeing as those companies can go out of business or get hacked at any point in time--leaving you completely helpless most of the time.

Cheers!

There many trusted and legit wallet for your smartphone or even your desktop. It depends on which country. For example me, I have coins.ph where I keep most of my coins. Also myetherwaller, you can easily use to and is accessible as long as you have a device.

I can suggest you to sign up for myetherwallet. It is easy to use. You can also access it to your mobile phone anytime and anywhere. The one that you only give to others is you address key.. Do not give your Private key to anyone but you. If you give it to someone, they can have access to your wallet and hack it and put your cryptocurrency to their wallet.

I recommend using BL blockchain. there is a 2-step verification.

For Phone Wallet I Reccomend Apps that has 2-Step Verification.. Blockchain wallet is recommended..

Please please always read the pinned posts first especially when starting out.

READ: Topic: [General] Bitcoin Wallets - Which, what, why? https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151

There are several wallets for your phone. For Android, I recommend BRD, Samourai, or Mycelium. BRD is easier to use, but Samourai supports segwit. Mycelium is full-featured (though it doesn't support segwit yet).

What points are you confused about?


Desktop wallets are your best bet. I personally recommend Electrum. Setting up a wallet with it is fairly straightforward, as are sending and receiving transactions. Try starting out with a standard non-segwit wallet (because some services do not support payments for segwit wallets), and be sure to set a strong password, and keep your seed words safe and offline. It also has a phone app. You can explore the other features later (like 2FA, Segwit, etc.), once you get the hang of things.

It also has a dedicated subforum here should you ever need help/support.

I read the beginner FAQ, but i am so confused on many points.
I wanna be able to receive bitcoins, i'm not sure if it would be safest to get my own wallet with an app, or use a trusted 3rd party website?

It would be preferably if it could be accessed via phone via an app or so.

Would really appreciate help! Mainly gonna be receiving bitcoins and using it for shopping.

Thanks in advance!