Topic: Keeping coins on Wallets - page 2. (Read 593 times)

I didn't verify it myself to confirm it but according to Electrum's release notes: https://github.com/spesmilo/electrum/blob/master/RELEASE-NOTES, they started supporting and releasing reproducible builds for Android too, and this since version 4.1.3:

It depends on the phone you have.
If you are using iPhone, than Mycelium in non-verifiable just like the mobile version of Electrum.
If you have an Android phone, the app is reproducible from source.

True, but it allows you to generate a new seed just like a non-custodial wallet. You need to write down that seed otherwise you lose access to your coins because there are no accounts like on centralized exchanges. Maybe OP heard about that somewhere and mistakenly confused Bisq with a wallet. Even though it's a non-custodial and decentralized exchange where you are always in control of your coins, it's better to use a proper wallet and use an exchange... for exchanging.   

You should test any wallet yourself but Bisq is decentralized exchange, not a wallet, so you can't really compare it with Electrum or Mycelium wallet.
I don't really like Mycelium because they added bunch of advertisement, and Electrum has clean interface with only supporting Bitcoin.
If you need wallet only for storing Bitcoin than I think you should go for Electrum.

Thanks for reply.

What about Mycelium? I will try to select from Electrum mycelium and bisq. what here suggested and searched them looks fine and more secure.

That means that they attempted to compile the publicly available code into a binary but the resulting app doesn't match the source code. The two binaries are different. They explain the process if you click on the "not reproducible" button. Or just look for the information here: https://walletscrutiny.com/methodology/#nonverifiable

BTW, I think only the mobile version of Electrum is non reproducible. That doesn't apply to the desktop client.

Thanks for useful post.


I got very useful guides and thanks for it. I installed Electrum but it is one problem that you can not buy BTC from it. you should transfer it from other platform which takes additional fees.


It would be more better if it has purchase features.

Thanks everyone.

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 I saw that tpic about Electrum wallet: https://walletscrutiny.com/android/org.electrum.electrum/
what does mean ,,NOT REPRODUCIBLE FROM SOURCE PROVIDED"?

I also found open source wallet Mycelium where is also possible crypto.

There is no such thing as normal portfolio diversification. For some Bitcoiners, the only "normal" thing is to hold BTC and no altcoins because many of them will just lose value long-term. There are shitcoins and then there are some established alts. If you are going to hold shitcoin pump & dumps, an allocation of 20% is too big. Even 1% is too big for that matter. But that's just my opinion. You have to find out what works best for you.

You've got your answers, I just want to add you my two cents regarding the way you'll make your purchase. I recently wrote a post where I discourage newbies to use centralized exchanges such as Binance, KuCoin, Coinbase etc. Do me a favor and read it.

You won't keep them on the exchange, I know, you've got perfect answers either way. However, there's no reason to hand out your personal information to such party neither.

Electrum is surely a good wallet and it's usually the first wallet which comes to my mind whenever someone asks me to recommend a wallet.
As I said in my previous post, electrum can be used as both hot and cold wallets.
With using electrum, you don't guarantee the safety of your coins. It depends on how you use electrum.

If you generate the wallet on a device which is connected to internet, there's still the possibility that you get hacked.
If you want 100% security on electrum, you should generate the wallet on an airgapped device and keep the seed phrase and private keys always offline.

Once your BTC holdings gets to the point that it's already a good amount of money, immediately grab a hardware wallet. At some point you need to beef up your security so you won't lose your funds from hackers.

https://cryptosec.info/wallets
https://ledger.com/
https://trezor.io/

It's a good decision and it's also good if you'll separate your Bitcoin from your altcoins, use a single wallet that's intended for Bitcoin only not a multi-coin wallet upon storing them.  And a multi-coin or multi-chain wallet for your altcoins.

Is this what you've planned for staking your altcoins?
Just choose a decentralized exchange for this, don't ever trust the centralized exchange to entrust your fund for a long period of time.
As ledger staking points out above and this is how Trezor staking guides.

Thanks for your times friends all of you and your useful guides. I always trying to learn from experienced people.

I am planning to purchase some BTC when i have and can afford to put it on BTC for holdings. I will try purchase little by little whenever i will be able and will use Electrum as you friends advised me.

In exchanges i will just will keep for alts for some profits.

My goal is like that: My main investment 80% will to BTC and 20 % on alts. Hope that is normal .

Thanks.

Ledger offers staking possibilities for several POS coins in Ledger Live. OP can take a look at https://www.ledger.com/staking if he is interested. I am not sure if Trezor provides similar features because I don't remember anyone ever writing about it.

Ledger has also partnered with several 3rd parties who offer their services through Ledger Live and the Discover tab. Among those offers, you can also find staking possibilities. But neither Ledger nor the end-user remains in control of the coins. The 3rd party apps are.   

It seems that you are looking for a wallet with a staking feature where you can able to make a profit or have an interest.

You already mention two wallets have this feature but the problem is I don't recommend those wallets to hold your coins.

If you want to hold your coins safely use a hardware wallet but they do not have a staking feature. If you want to stake and make a profit holding them only choose a coin that has its own developed wallet where you can able to host it with yourself. Sample Solana if you want to become one of their validator you need to have a node where all of your Solana is in staking and earn rewards.

Exchanges are also offered staking like Binance and Kucoin but most people here do not recommend holding coins on exchanges. But for me, if this is the only option you have I choose Binance than Kucoin. I have both experienced using these exchanges but I mostly use Binance than Kucoin.

And take note there is no quick rich scheme on staking there are also risks holding these coins/token the price of those coins/tokens is dropped pretty quick.

It might be what you mean is staking coins and there's no wallet that has a feature, except the exchange but first, researches it first which exchange is the best to entrust your fund.  This is the tougher choice that you need to have research first and don't rely on any financial advice.

They are totally different, for safety and holding for the long term, non-custodial wallet or hardware wallets is the best choice.
Remember always as our golden rule, "Not your keys, not your coins"

If you're not afraid of KYC and you're willing to give your personal documents to them, Binance is good to entrust your fund as a third party who holds your fund, as the feature they have (SAFU) which is the promised a secure fund of users, it might be they are a good choice since they are reputable, Kucoin doesn't have this but they don't have KYC as their minimum limit.

It's your call now which you prefer, DYOR is always in every decision you plan to make.

You can't have both safety and profit from coins if you are using some centralized services and exchanges.
If you want safety you should use cold wallets or something like hardware wallets, that should be used if you have larger amount of coins.
You can experiment with some services that earn interest on Bitcoin but you should know that you are not holding private keys for those coins, and they can always get hacked or leak your infoirmation.

Both of them are closed source and I don't recommend them for anyone who is serious with keeping their coins safe.
Best light wallet you can use for bitcoin is Electrum, and if you want to store other altcoins consider using some hardware wallets.

I am not using this exchanges now and I switched to only true decentralized exchange called Bisq and AtomicDex for atomic swaps.
Kucoin has clear advantage compared to Binance, because you can still use it even without passing kyc verification, but both exchanges can freeze your coins and account at any time.

You are probably talking about staking or using DeFi lending and borrowing platforms. You should know that such platforms are prone to different accidents. Hacking, bugs & vulnerabilities, exit scams/rug pulls, etc. Whatever the case, it's the end user (like yourself) that ends up losing money. A much better option is to purchase Bitcoin whenever you can and keep it in a good non-custodial and open-source wallet. If you don't make mistakes with the handling and securing of your keys, a 3rd party can't become the reason why you lost access to your coins. 

Never on exchanges. Always in wallets whose keys you control and only you.

Neither of them. Atomic Wallet has a bad history of selective scamming. Exodus doesn't from what I am aware of, but hosseinimr93 already explained its shortcomings.   

If you don't want to use decentralized exchanges like Bisq and you insist on a centralized one, take a look at FTX. It's got low and even free withdrawals.

If you are looking for a service giving you interest, there is no secure option for you.
For getting interest, you have to give your coins to a third party and I wouldn't recommend anyone to do so.  


An exchange (as its name suggests) should be used for exchanging your coins. You shouldn't use an exchange for holding your coins.
With using an exchange, you give a third party full control over your fund.

It's always recommended to use cold wallets. It can be a hardware wallet or a paper wallet.
Note that if you want to use a software as a cold wallet, you should generate the private keys (or the seed phrase) on an airgapped device and your private keys (and your seed phrase) should never touch the internet.
If you want to spend your coins every day, a cold wallet may not be a good option for you. But note you still need to make sure that the wallet has been created on a secure device. Never keep big amounts on hot wallets.

A good wallet which I can recommend to you is electrum. It's an open-source wallet which gives you full control over your fund. Electrum can be used as both cold and hot wallets. Just note that electrum only supports bitcoin and if you want to hold altcoins, you need other wallets. If you are looking for a multi-currency wallet, it's better to go for a hardware wallet.


Both Atomic and Exodus are close-source and we don't know what's exactly happening in those wallets. It's possible that they have access to your private keys.

Hello community,

I have newbie questions:

where is recommended to keep coins safe and get some incomes/profits from them?

Exchange servers or on cold/warm wallets?

if wallets which one is trustworthy Atomic wallet, Exodus or..?

and which Exchange server is your preferred? Kucoin or Binance?

Thanks.