It's good to have trust wallet for your bitcoin business.
NOTE:we don't really know which wallets is trusted for now even if you've your wallet once you've finish your bitcoin transaction using make sure you transfer your money into your bank account
Topic: I need Wallet for my Bitcoin Investment (Read 337 times)
Trust wallet is also good but as a beginner I will not advise to use trust wallet because trust wallet is a multi-chains wallet whereby there various wallets and it is own by binance exchange platform. So comparing the present scenario in world any wallet own by exchange company or individual (s) is not advisable to use.
Electrum which you have already opened, is one of the best wallet so far. So you can sent your coins out of the exchange platform to your wallet for proper safety. I it remember to keep your private keys in a good place.
Electrum which you have already opened, is one of the best wallet so far. So you can sent your coins out of the exchange platform to your wallet for proper safety. I it remember to keep your private keys in a good place.
Choosing a wallet has become very important for us now. Many of us use exchange wallets which are not secure these days. For this we need to use many which are very safe.Much safer as hardware wallets, trust wallets, Trezor wallet, Ledger wallet, Electrum etc can use All these are really very safe and secure.All his things can be kept safe here.
Trust Wallet is good as well to saved your bitcoin investment, while creating the account, you need to saved the pass 12 phase of the wallet by writing down on your dairy including the password, should in case of future time, if your phone device been corrupt, or stolen, you can be able to recover your bitcoin digital assets back.
^This wallet was introduced by CZ the CEO of Binance. This wallet is multi-functional and supports different blockchains, but if you really want to separate your BTC from your altcoins is better to choose Electrum wallet for BTC and TrustWallet for the altcoins. Both are open-source wallets that you can trust, as long as it is open-source we can assure that our fund is safe and we have control over our portfolio. However, if you have a budget, just go for the hardware wallet, this safest wallet for all, why? Because this wallet has a security feature itself that can protect your crypto.
@op, since you already have Electrum installed, feel free to use it, it's the best rated software wallet available today. Later, if you have more conditions, buy yourself a hardware wallet to ensure the safety of your bitcoins.
This wallet is multi-functional and supports different blockchains, but if you really want to separate your BTC from your altcoins is better to choose Electrum wallet for BTC and TrustWallet for the altcoins. Both are open-source wallets that you can trust, as long as it is open-source we can assure that our fund is safe and we have control over our portfolio.
Trust wallet isn't open-source and there is no way to know how the keys are generated and whether they have access to users keys or not. In their website, they claim that trustwallet is open-source, but they are lying. It used to be open-source and their source code has been last updated around 4 years ago.
As many people said here I think Electrum is good enough for every people's needs. If you don't own a hardware wallet, Electrum is a go-to wallet for you. I own Ledger and Trezor but I also still use Electrum, never had a problem for years. I used to use Bitcoin-QT but now it's almost impossible to use it for a regular person due to huge size and synchronization issues.
Trust Wallet is good as well to saved your bitcoin investment, while creating the account, you need to saved the pass 12 phase of the wallet by writing down on your dairy including the password, should in case of future time, if your phone device been corrupt, or stolen, you can be able to recover your bitcoin digital assets back.
^This wallet was introduced by CZ the CEO of Binance. This wallet is multi-functional and supports different blockchains, but if you really want to separate your BTC from your altcoins is better to choose Electrum wallet for BTC and TrustWallet for the altcoins. Both are open-source wallets that you can trust, as long as it is open-source we can assure that our fund is safe and we have control over our portfolio. However, if you have a budget, just go for the hardware wallet, this safest wallet for all, why? Because this wallet has a security feature itself that can protect your crypto.
Choosing a wallet is most important these days.There are many people who use exchange wallets. The most scammed we've seen are people who use exchange wallets to invest their money.Just a few days ago I saw FTX hacked and lots of funds removed from it.Earlier also we heard about various other exchange hacking and people were cheated there.So choosing a wallet is the most important thing at this time So if you want to invest your coins then of course you can use hardware wallet, trust wallet, Legdar wallet, Electrum etc. These are very secure wallets.
I already saw the topic where you said about your first bitcoin purchases and now you are officially a bitcoin investor but as an investor like you already saw many people told you to choose a bitcoin wallet for yourself if you are going to hold bitcoin for a long time I suggest you use bitcoin hardware wallet where you can have more security but you should pay some money to buy a bitcoin wallet otherwise there are software wallet like Electrum you can try if you ask me I'm using Electrum for a long time and never had any problem, but make sure if you are not downloading fake versions of this wallet.
Based on your encouragements and advices in my first purchase of Bitcoin, I was motivated to use part of my Christmas savings of $12.53 to buy Bitcoin today and I want to move them out from the exchange platform to a wallet and as a newbie in the system, I don't know which of the wallet is preferable. Though I have opened Electrum but I have not moved the coins to it.
So which of the wallet should I used to keep my coins safe?
You are already on track, because "Electrum" Is actually the best bitcoin wallet for android users, because of it's safety. So all you need to do is just copy your Bitcoin wallt address from Electrum wallet, log in to your Binance app, paste the address, then send the Bitcoin while you ensuring you send above the minimum amount. (I.e some exchanges has a specific amount of BTC you can either withdraw or deposited e.g 0.0001). So which of the wallet should I used to keep my coins safe?
Trust Wallet is good as well to saved your bitcoin investment, while creating the account, you need to saved the pass 12 phase of the wallet by writing down on your dairy including the password, should in case of future time, if your phone device been corrupt, or stolen, you can be able to recover your bitcoin digital assets back.
Trust Wallet is owned by Binance.
Remember what happened to FTX's apps when they imploded? Someone turned them into malware.
For this reason, it is not recommended to use any mobile wallet app owned by an exchange, unless you have a way to verify the signature of the file to tell that it came from a trustworthy source (though in the case of an insider attack, this wouldn't protect you so much).
For a newbie, trust wallet is worth a try because it is very easy to use as well as stores many different coins without having to create many different wallets. I have also been using Trust wallet for more than 3 years and have not had any problems as many say. But if you own more assets then it is best to get a cold wallet.
Trust Wallet is good as well to saved your bitcoin investment, while creating the account, you need to saved the pass 12 phase of the wallet by writing down on your dairy including the password, should in case of future time, if your phone device been corrupt, or stolen, you can be able to recover your bitcoin digital assets back.
Trust Wallet is owned by Binance.
Remember what happened to FTX's apps when they imploded? Someone turned them into malware.
For this reason, it is not recommended to use any mobile wallet app owned by an exchange, unless you have a way to verify the signature of the file to tell that it came from a trustworthy source (though in the case of an insider attack, this wouldn't protect you so much).
Based on your encouragements and advices in my first purchase of Bitcoin, I was motivated to use part of my Christmas savings of $12.53 to buy Bitcoin today and I want to move them out from the exchange platform to a wallet and as a newbie in the system, I don't know which of the wallet is preferable. Though I have opened Electrum but I have not moved the coins to it.
So which of the wallet should I used to keep my coins safe?
Today's purchase was awesome
~snip pic
One thing I discovered from the exchange platform is that the buying price is higher than the selling price.
What didn't you like about Electrum? This is a proven and reliable wallet that the BTC-community has been using for a very long time. The only thing I would recommend to you when using this is to install Electrum on a separate PC or a separate OS and use the PC or OS only to run this application. This will keep your wallet safe from being infected by malicious applications, or at least reduce the likelihood of it.So which of the wallet should I used to keep my coins safe?
Today's purchase was awesome
~snip pic
One thing I discovered from the exchange platform is that the buying price is higher than the selling price.
The thing you found is a common occurrence in any market for any product. Whatever asset you choose, even in traditional financial markets, there will always be a difference between the purchase price and the sale price. Moreover, different sellers will have different prices.
Trust Wallet is good as well to saved your bitcoin investment, while creating the account, you need to saved the pass 12 phase of the wallet by writing down on your dairy including the password, should in case of future time, if your phone device been corrupt, or stolen, you can be able to recover your bitcoin digital assets back.
Trust Wallet is owned by Binance.
Remember what happened to FTX's apps when they imploded? Someone turned them into malware.
For this reason, it is not recommended to use any mobile wallet app owned by an exchange, unless you have a way to verify the signature of the file to tell that it came from a trustworthy source (though in the case of an insider attack, this wouldn't protect you so much).
Trust Wallet is good as well to saved your bitcoin investment, while creating the account, you need to saved the pass 12 phase of the wallet by writing down on your dairy including the password, should in case of future time, if your phone device been corrupt, or stolen, you can be able to recover your bitcoin digital assets back.
I agree with others, Electrum is one of the best wallet as it is also lightweight,
Here is the official link if you haven't downloaded it yet: https://electrum.org/#home
I will also link you one of the best resources from our community regarding Electrum by @DireWolfM14 :[GUIDE] How to Safely Download and Verify Electrum [Guide].
Here is the official link if you haven't downloaded it yet: https://electrum.org/#home
I will also link you one of the best resources from our community regarding Electrum by @DireWolfM14 :[GUIDE] How to Safely Download and Verify Electrum [Guide].
Btw, trust wallet is also one of the most recognised wallets now that the FTX collapse took place, as it helped CZ to promote that wallet (non-custodial one)
Being one of the most recognized wallet doesn't mean it should be recommended. OP has already installed electrum which is open source and one of the most secure wallets and should avoid any close-source wallet like trustwallet. The electrum wallet isn't bad, just ensure you're able to keep they keys safely, it's one of the best recommended cold storage
Note that electrum isn't always used for cold storage. Electrum can be a hot wallet too. Being a cold wallet or a hot wallet depends on how you use electrum. 
The Electrum wallet is the best and it's Bitcoin-only even I use this wallet for a long time as long as the phrase seed is placed in a safe place and has several copies in case other backups are lost, but you need have to keep the phrase seed online and in offline must do just in case.
I know you want to invest for the long term, if you want to be more secure then you can use a hardware Wallet if you have more money then you can buy it this will be much safer than others, even though others are safe but I think hardware is the best .
List of hardware wallets: [1] https://bitcointalksearch.org/topic/--5282364
I know you want to invest for the long term, if you want to be more secure then you can use a hardware Wallet if you have more money then you can buy it this will be much safer than others, even though others are safe but I think hardware is the best .
List of hardware wallets: [1] https://bitcointalksearch.org/topic/--5282364
Though I have opened Electrum but I have not moved the coins to it.
So which of the wallet should I used to keep my coins safe?
So which of the wallet should I used to keep my coins safe?
The electrum wallet isn't bad, just ensure you're able to keep they keys safely, it's one of the best recommended cold storage, another option you can use could be more technical and demanding than this first one which is bitcoincore or getting one of the hardware wallet by a single purchase.
One thing I discovered from the exchange platform is that the buying price is higher than the selling price.
What els could you expect, if you buy anything just now, you don't expect to sell it thesame value it's been bought, that's where some third party like exchanges make their profits and you will still have to pay the tixed transaction fees which could be adjustible using a decentralized exchange.
Please always edit your image to a smaller size whenever you're posting pictures for future sake.
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Electrum wallet is just fine bud, though I personally use mycelium wallet which also is a great wallet, Electrum is another outstanding wallet as well.
Since you are just starting out, those wallets are good enough, but the best wallets is hardware wallet because they are offline when not connected, but I don't think you can afford this type of wallet right now, so just stick with Electrum or mycelium, which ever is more interesting to you.
Since you are just starting out, those wallets are good enough, but the best wallets is hardware wallet because they are offline when not connected, but I don't think you can afford this type of wallet right now, so just stick with Electrum or mycelium, which ever is more interesting to you.
One thing I discovered from the exchange platform is that the buying price is higher than the selling price.
This is the norm, buying price is always higher than selling price, to me, this is one way to discourage people from buying and selling off immediately, as one can not do this without incurring some loss, though the main reason for this is in the buying and selling orders placed by traders, those are buying are placing orders at a lower price while those selling are placing orders at higher price, this the major reason why you sell at a bit lower price if you sell immediately after you bought. Jump to: