Topic: Looking for an Easy, Non-Custodial Wallet for my parents friend (Read 308 times)

From time to time, I still receive warnings from Metamask over my unverified wallet lol.

But for the sake of security, a hardware wallet is still a sound choice. They might even appreciate/ remember it's not something that costs a penny or two, or is free.

It's a bad wallet due to closed source and it doesn't have many advanced feature like RBF (Replace By Fee) used to increase your fee if you set wrong fee on your previous transaction. As long as your transaction not get confirmed, you're have a way to cancel or increase your fee.

Also Atomic doesn't have a feature to customize your fee, they only have slow to fast. The problem is usually they're wrong to calculate the recent fee.

I would follow aysg76's comment, better convert all different cryptos to Bitcoin or I would say Ether is fine too, plenty self custody wallets available, Metamask being obvious choice.

However, it's usually target for malevolent actors, better set it up yourself, give them seed phrase and advise to hold it securely rather than using wallet itself.

While I would personally encourage you to abandon all of your alts and sell them for Bitcoin, that decision is ultimately up to you.

My personal bias aside, I would probably recommend Exodus wallet. It supports Bitcoin and all of the altcoins you mentioned all in a single clean interface on desktop and mobile.

You can find it here: https://www.exodus.com/

Best of luck.

Why not buy a physical wallet? Whether it was a hardware or printing wallet, it contained things of value such as gold and silver, or banknotes that looked like paper money.

Most people may not understand Bitcoin, and therefore if you buy them a hardware wallet or install a wallet on their phones, and over time they will forget the password, lose the device, or delete the content, but everyone appreciates gold, silver and paper money.
You can get ideas from here: https://bitcointalk.org/index.php?board=217.0

OP clearly wrote "I found out that Blockfolio had been acquired by FTX..." and what is there to be confusing? The company FTX bought Blockfolio and paid in its worthless tokens, and now everything that FTX invested in is worth nothing, although I don't know if there is a chance that any of it will be saved.

Did you just mentioned Blockfolio account? Is that not FTX? I thought FTX was originally called Blockfolio? Anyone should please confirm this claim for me before I get more confused.

The easiest way to teach people about crypto wallet and it's security is by using a mobile wallet, Electrum is a good one.

Just buy them a hardware wallet as bundle for your gift since old people usually preferred physical thing so that they can appreciate it. I’m sure they will not understand crypto even if you gave them and stored it on a non custodial wallet. You will still need to secure it for them and check it since they will not gonna open it on there own. Non custodial wallet is not user friendly especially on people that doesn’t have knowledge/no interest on crypto.

Hardware wallet is your best shot to save you time for worrying your friends parents crypto savings.

See it's really good that you want to gift your friends parents these coins but as as advice I would say that if you can convert your altcoins into bitcoin if you have already bought them or if you are planning to buy just go for bitcoin as a gift to them due to some reasons.It would be more beneficial for them to hold it in long term and as you said they don't want to handle all the technical part it would be much easy for them to have bitcoin as one coin in one non custodial wallet like Electrum and they only need to backup the seed safely with them.

But if you want then you have many options above like different wallets or trust wallet but my advice is to have non custodial wallet with bitcoin as the coin it otherwise there are hardware wallets like Ledger and Trezor which you can have and support your existing coins which you have a look at it.

It's not completely open source and some source code is kept secret and they give reason it's for safety of users to backup this so I have doubts with them and would not recommend it to someone who is new to this and manage their wallets first time.The start from Atomic swap exchange and DeFi exchange and now offering different coins but for me it's not safe and his parents need some good wallet for use.

From personal experience, I can tell you that it is mostly a bad idea, because most people have a hard time understanding Bitcoin, and when you add altcoins to it, you will only cause even more confusion. I would personally focus on Bitcoin and probably the most used desktop wallet Electrum, with the fact that maybe after sending the transaction, I would recommend that instead of a hot wallet, they only have a watch-only wallet on their computer or smartphone.

However it turns out in the end, it is important that they understand what you are giving away, what is the meaning of everything and what are the risks. Otherwise, it may happen that all your efforts will be in vain.

For non-techy people, it is really hard for them to understand crypto wallet even though it has a simple interface or it is friendly UI.
For the newbies, Electrum was the common wallet that they suggested for bitcoin --but it is only for bitcoin and not for the altcoins, blue wallet if there are altcoins holding. All open-source wallets are good to store bitcoin for a long period of time they are reliable for how many years since they have been found because you can verify them. It would be better if you will buy a hardware wallet for them because you want them to keep their bitcoin for a long time --there is always a vulnerable issue in having a wallet on your personal mobile phone so it is not good to recommend at all.

Don't use any online Bitcoin wallets. Period.
Over the years I save many people complaining about online wallets with accounts, and I see not good reason to use them when you have perfectly fine software open source software wallets.
Electrum is most popular desktop wallet among Bitcoin community, but Sparrow wallet is seriously good alternative option.
For mobile wallets you can check Unstoppable.money and most secure option is buying open source hardware wallets like Trezor, Bitbox, Passport, Keystone etc.

Some reddit communities are asking for higher activity and karma on your account before you can create topics, so it's nothing personal.
I remember r/CryptoCurrency was doing this for years, and they are probably trying to fight spam this way, but it's stupid in my opinion.

For non techy individual I won't recommend giving multiple cryptocurrencies so the best of all is Bitcoin which means bitcoin equalent to whatever amount you decided to gift in an Electrum installed smartphone can be a good choice because instead of buying hardware wallet you can buy mid variant Samsung for 100 to 200 dollars.

If they are in tech related profession then it won't be a rocket science for them to understand how to access the funds stored in it if you manage to explain it to them.

There's nothing too bad in the title given to your thread but i only think you don't need to explain that it is needed for your parent friend who passed away, there's nothing bad in presenting them with optional non custodian wallet to use and store their  with than having them partake from the risk in using a custodial wallet, but make sure that the information is well passed across to the specific target and they understand how they can privately owned their keys which is the access to their wallet for recovery purpose anytime they needed to retrieve access.

@jackg, @NeuroticFish, @PlagueDeath, as @OP said that of course his friend's parents are Boomers who in fact don't understand more deeply about the latest technology, I personally think that it's an unstable decision to separate wallets from assets that @OP wants to send to his friend's parents. So, IMO it would be better if these assets were stored in 1 Non-custodial wallet on the smartphone.


@NeuroticFish, @OmegaStarScream, I've done some research on TrustWallet, they support $BTC, $ETH and also $LTC, but not $XMR. So, if @OP wants to transfer his assets to TrustWallet, this can't be done. But for @OP, you can use Atomic Wallet, Atomic Wallet is a secure wallet which, if I'm not mistaken, was developed by the Komodo project, they support all the assets you mentioned above. Hope my response can help you to solve your question.

They launched a browser extension a couple of weeks ago: https://trustwallet.com/browser-extension

@OP Take a look at Delta.app if Blockfolio is no longer an option: https://delta.app/en

If you fine to spend more money to buy hardware wallet, then I will directly recommend you to use hardware wallet. But if you're looking for free non custodial wallet, then I will recommend:

BTC: Electrum, Bluewallet.
ETH: None (Metamask is good but they're record your IP and make sure you're not come from restricted countries like Russia)
LTC: Electrum LTC
XMR: Monero GUI wallet.

Those wallets are non custodial and open source, you can also verify the signatures.

Take this chance to distribute your gifts to your loved ones but also use it to unofficially, indirectly educate them.

If I was you, I will sell all altcoins and buy Bitcoin as the only coin I am going to use for my gift distribution.

• It is easier for your to choose a wallet which is easily for your distribution and for receivers to use
• It indirectly helps them to avoid custodial wallets, exchange wallets and avoid risky exposure to altcoins, tokens.

If I choose Bitcoin, a wallet I choose will be Electrum wallet that is available for mobile.

[GUIDE] How to Safely Download and Verify Electrum

Online/web wallets can be a pain in the ass. From errors they may have, to phishing and the possibility the wallet becomes malicious itself. I'd avoid them.
There's another problem I see there: you have not only bitcoin, but a mix of coins. For Bitcoin it could have been easier: you generate a (paper?) wallet and you're already good; but 4 (paper?) wallets can become overly confusing.

For BTC, ETH and LTC, one easy and safe way would be a hardware wallet. XMR I don't know which hardware wallet supports it correctly, I had some surprises with XMR and Ledger, but I don't know if it was my lack of knowledge or they've changed too something (luckily I've moved the coins away as advised by somebody, but at recheck after the last XMR fork, my Ledger has returned different address to me).

So without XMR, Ledger + Leger Live is the easiest option. I don't know if you want to also invest in a hardware wallet, so I won't continue; if you want to invest maybe you find something more reputable than Ledger for the job.

If the amounts are not big and you are tech savvy, maybe you configure a bootable USB stick with a Linux on it, with an Electrum, with Monero official wallet configured with a list of live servers, and maybe you find SPV / simple options for ETH and LTC too...

It's not an advise to use it, however, all in one could be Trust wallet. Still not online/web, even more, not even open source, still, it supports multiple coins (I don't know which) and afaik it's self-custody. Keep in mind that it's owned by Binance.

There was a discussion on the best mobile wallets for android to replace trust wallet that could be found here: https://bitcointalksearch.org/topic/m.61448407

I would recommend using separate wallets for each coin (for better security - stopping random notifications) but that might be unnecessary.

Best wallets for individual coins imo would be:
BTC - electrum, bitcoin wallet for Android
Eth - metamask
Xmr and ltc I'm not too sure as I rarely use them now.

I think if you're going down the apple route, you're going to need to use multicoin wallets.