My First Wallet. | Bitcointalksearch.org

Wend

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Quote from: ImThour on July 30, 2023, 11:35:01 AM

Umm not really a great choice if you ask me, I will always go for a Ledger or Trezor hardware wallet because of how easy it's easy to use, store crypto and hide it in my house or somewhere secretive. This looks more like an alien device for those who don't know about Bitcoin Hardware Wallet(s) and if we go by Trezor or Ledger design, it's just a simple USB stick.

In the end if it's working fine for you, great.

You don't know it but many people are not unfamiliar with it, SafePal is a storage wallet with both hot and cold wallets that many people have been using, it's not new anymore. But I also wouldn't choose it as it is a closed source hardware wallet, but I would also recommend skipping Ledger, which is also no longer a trusted wallet. Perhaps when it comes to hardware wallets these days, Trezor is the safest option we have. But no one can predict what will happen, everything will be safe until it is no longer safe like how Ledger lost his reputation.

ImThour

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Umm not really a great choice if you ask me, I will always go for a Ledger or Trezor hardware wallet because of how easy it's easy to use, store crypto and hide it in my house or somewhere secretive. This looks more like an alien device for those who don't know about Bitcoin Hardware Wallet(s) and if we go by Trezor or Ledger design, it's just a simple USB stick.

In the end if it's working fine for you, great.

aylabadia05

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Quote from: Popkon6 on July 28, 2023, 08:44:26 PM

Hardware wallet is the most secure full security wallet. Hardware wallets are the safest place to store bitcoins, especially for long periods of time. As far as I know sepal wallet is safe enough but confirm keys carefully. Because if the wallet is lost then you will keep your assets inside it.

The OP's acknowledgment that while owning SafePal was rarely used and the worry he experienced was also great because SafePal was a closed source hardware wallet from China.
Hardware wallets are safe for storing long-term assets, but from the testimonials of users who have used them lead me to say it would not be safe with a SafePal wallet for storing them long-term.

Quote from: Popkon6 on July 28, 2023, 08:44:26 PM

So I think it will be safe to write down the Key on paper.

Storing keys by writing on paper is still not safe because they still have the potential to be damaged by water and scorched by fire.

DYING_S0UL

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Quote from: mk4 on July 10, 2023, 03:20:55 PM

Just mainly due to curiosity — not saying that SafePal is bad or whatever(I have no idea because I never researched it), but how did you end up picking SafePal? Knowing that the Bitcoiner hardware wallet trio is Trezor-Ledger-ColdCard.

Sorry for posting irrelevant comment but man!! I am seeing you everyday everywhere in every thread. I know you are a legendary member and you are very active. I don't know how to describe, my mind/brain always recognize this person/user (mk4). And the funny part is whether small or big or anything you always get merits. Man you are really something. Don't take it to heart no offense. I am just expression my thoughts. Grin

Bitcoin_people

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Congratulations on using a hardware wallet to secure your funds. Although currently Safepal hardware wallet has gained much popularity and it is on the list of gaining trust. Hardware Wallet It has strong security and ensures safe transactions from here very fast. But I have not used this safepal hardware wallet but its software wallet which gives me good security. Accordingly, I have seen many reviews of hardware wallets which have convinced me that this wallet is truly amazing. Safepal hardware wallet is more popular and advanced than other hardware wallets and this wallet provides maximum security of money to people.

Z-tight

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Quote from: Popkon6 on July 28, 2023, 08:44:26 PM

As far as I know sepal wallet is safe enough but confirm keys carefully. Because if the wallet is lost then you will keep your assets inside it. So I think it will be safe to write down the Key on paper.

Safepal wallet is neither a recommended nor a safe wallet. Take note that hardware wallets store your keys in them and it is your seed phrase that should be wriiten on paper and not your private keys. If your wallet is stolen or lost you'll have to use your seed phrase to import your wallet into another software or hardware wallet so an attacker would not brute-force your device pin, if weak, and steal your funds.

Quote from: Flexystar on July 28, 2023, 08:46:45 AM

That is a good looking wallet but obviously as mentioned earlier it is closed source and thus you may not be in full custody of your own funds. I don’t know, if you are in decentralised market then best way to secure the funds is use non custodial wallets itself.

A closed source wallet can also be a self custody wallet, what is unsafe about a closed source wallet is that the users cannot verify the code of the wallet to know if it is safe and secure, even though they may have their keys and seed phrase.

Cryptomultiplier

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I remember my first wallet. It was Trust wallet. Although I was still a newbie as at the time of using it, I will put myself in the bracket of persons who lost their asset due to negligence. I don't know if you would think of it like that because I got a new phone, reinstalled the Trust wallet, recovered my account with my seed phrase, but I couldn't find the supposed coin I kept there. Or perhaps I thought I did and was disappointed to find out I didn't in the end.

I had to give Electrum a try and it works just fine for me for now.
I am however fascinated by your bold move to acquire a hardware wallet no matter the cost or sacrifice you must have made, and am sure alot of us here would agree that it feels more safer to use the hardware wallet since it is totally disconnected from our devices, and safe from phishing, scammers and hackers.
Also is the case where the hardware wallet is stolen or lost, as long as the seed phrases are intact, a new hardware wallet can be bought or used to recover the coins.

Quote

Both Ledger and Trezor wallets allow users to recover access to their wallets through a seed phrase by simply using another hardware wallet.

“A user could recover their wallet and funds on any of the other new Ledger wallets. Alternatively, they could also recover on a Trezor, SafePal or another hardware wallet device,” Ledger chief technology officer Charles Guillemet told Cointelegraph.

Users can also turn to software wallets to access their funds in case the hardware wallet was lost, stolen or destroyed. “If you lost your Trezor, but you still have your recovery seed, you can recover your funds through many hardware wallets and software wallets in the market,” Trezor chief information security officer Jan Andraščík said.

According to the Ledger and Trezor executives, the list of compatible software wallets includes platforms such as Electrum, Exodus, MetaMask, Samourai, Wasabi, Spot and others.

https://cointelegraph.com/news/what-happens-if-you-lose-or-break-your-hardware-crypto-wallet

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Quote from: Aanuoluwatofunmi on July 28, 2023, 08:46:57 AM

Quote from: leonair on July 27, 2023, 06:00:59 AM

Nice op. I'm interested in buying a hardware wallet but haven't bought it yet because I don't have a large amount of money to store. The amount of bitcoins I have can be safely stored in a software wallet. However, software wallets are very risky. I think you won't have any trouble using it. I am thinking of ordering one very soon. thanks for sharing this here op. congratulations for your first purchase a hardware wallet

Maybe you can take this as a advantage to learn and know the kind of hardware wallet you should go for when the times comes for you to purchase one, my advice for you is not to buy a ledger brand hardware wallet, instead you can go for Trezor or any other brand, using hardware is not as risky as some other storage alternatives that are hot wallets, you only need to give a maintenance to how you handle a hardware wallet against any form of damage.

Perhaps hardware wallets are still the safest option for us, but it cannot be said that they are risk-free. I remember Ledger wallet used to be considered the most popular and secure until they announced the Ledger Recover feature, and it caused potential concern that they really weren't storing people's seed phrases? For me, as long as these devices are manufactured and managed under one centralized company, there will be risks that we do not anticipate.

Popkon6

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Hardware wallet is the most secure full security wallet. Hardware wallets are the safest place to store bitcoins, especially for long periods of time. As far as I know sepal wallet is safe enough but confirm keys carefully. Because if the wallet is lost then you will keep your assets inside it. So I think it will be safe to write down the Key on paper.

ajiz138

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Quote from: Aanuoluwatofunmi on July 28, 2023, 08:46:57 AM

Quote from: leonair on July 27, 2023, 06:00:59 AM

Nice op. I'm interested in buying a hardware wallet but haven't bought it yet because I don't have a large amount of money to store. The amount of bitcoins I have can be safely stored in a software wallet. However, software wallets are very risky. I think you won't have any trouble using it. I am thinking of ordering one very soon. thanks for sharing this here op. congratulations for your first purchase a hardware wallet

Maybe you can take this as a advantage to learn and know the kind of hardware wallet you should go for when the times comes for you to purchase one, my advice for you is not to buy a ledger brand hardware wallet, instead you can go for Trezor or any other brand, using hardware is not as risky as some other storage alternatives that are hot wallets, you only need to give a maintenance to how you handle a hardware wallet against any form of damage.

Perhaps it can be seen from some open-source hardware wallets. Link.
If one day he has more money and plans to invest more in the long run then hardware will be more effective than storing in a hot wallet.

Actually there is nothing wrong with storing in a hot wallet if they can keep it safe from other hacker attacks, but that is easy to do if it is connected to the internet, in anticipation, hardware is the solution if you want to be truly safe.

Aanuoluwatofunmi

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Quote from: leonair on July 27, 2023, 06:00:59 AM

Nice op. I'm interested in buying a hardware wallet but haven't bought it yet because I don't have a large amount of money to store. The amount of bitcoins I have can be safely stored in a software wallet. However, software wallets are very risky. I think you won't have any trouble using it. I am thinking of ordering one very soon. thanks for sharing this here op. congratulations for your first purchase a hardware wallet

Maybe you can take this as a advantage to learn and know the kind of hardware wallet you should go for when the times comes for you to purchase one, my advice for you is not to buy a ledger brand hardware wallet, instead you can go for Trezor or any other brand, using hardware is not as risky as some other storage alternatives that are hot wallets, you only need to give a maintenance to how you handle a hardware wallet against any form of damage.

Flexystar

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That is a good looking wallet but obviously as mentioned earlier it is closed source and thus you may not be in full custody of your own funds. I don’t know, if you are in decentralised market then best way to secure the funds is use non custodial wallets itself. Sometimes it is far safer to use the paper wallet somehow because there is literally no existence of these wallets over the internet as long as we do not import them. Better choose your methods properly and then invest. I wish you would have dated a little to order Trezor. It is proven wallet in terms of Safe keeping. Anyways, congratulation on your first hardware wallet, more Bitcoins to you!

eightdots

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Quote from: Ryu_Ar1 on July 10, 2023, 10:16:05 AM

I thought it would be fine and it would arrive safely because I bought directly from the official Trezor website because my initial thought was that it would be safer. But a few weeks later there was a call from my country's Customs saying that my package had been delayed and that I had to pay approximately $35 for my package to be sent immediately.
Since it was my first time making an out-of-country purchase, I ignored the call because I thought it was a scam and I didn't want to pay again after buying from the Trezor site.

Big shopping sites give a price by including the additional expenses at the customs when calculating the price of the goods you buy. Sites of brands that only sell a product usually do not do this. For the products of companies selling a single brand, customs have to constantly communicate. Actually, it's not something they want. It can be very tiring. From this point of view, all sites should update the order method they use and instantly add the customs prices to the products they sell.

We do not like the additional fees after shopping, but we are obliged to pay. At least if they give us the opportunity to pay as soon as we receive the product, we won't have to deal with it later.

Congratulations on becoming a user who has moved to the wallet stage. Security is everything.

$crypto$

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Quote from: blue Snow on July 27, 2023, 08:18:23 PM

It's not really, it depends on you. there are some people who even lost their Bitcoin save in their hardware wallet.

Maybe it's missing the seed phrase so that bitcoin assets in hardware can no longer be accessed, if they still store of course their bitcoin deposits are still safe.

Quote from: blue Snow on July 27, 2023, 08:18:23 PM

Basic in my experience, osoftware wallets is safe, I don't have a problem using a software wallet (electrum) for 3 years. I still have my 1st-time Bitcoin save on Electrum today. So, if you save your fund in a hardware wallet, but keep the seed phrase on PC or electronic gadget where always connect to the internet will surely be lost as well as the others.

Yes, the software wallet is still safe, I also still use Electrum for several years without experiencing any problems until now, the most important thing is how to protect our PCs from unknown attacks including from unknown sites or the kind they click on unknown links, I that should be considered for the security of the software wallet.

Although I did not store bitcoin for long on Electrum, I did store it for 3 months safely, but if you still have doubts about this then it is better to use a hardware wallet.

aylabadia05

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Quote from: Ryu_Ar1 on July 27, 2023, 08:49:03 AM

Worries, of course there are especially many who remind that Safepal is closed source from China, they steal and change and violate the original source code just like @dkbit98 said, obviously this gives me concern.
I also still can't give much experience because I've only been using this for 3 weeks and only a few times I tried to transfer and receive bitcoins although so far it's been fine for me.

Meaning I don't have to try if SafePal is a closed source hardware wallet because those of you who have already bought it have the fear of losing assets.
So far, I have avoided closed source wallets and even told other people to stay away from closed source wallets. We just want a wallet that has good privacy and we don't want our users to be bothered by worry even though we have stored the backup private key or seed phrase in a safe place.

Gladitorcomeback

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Quote from: blue Snow on July 27, 2023, 08:18:23 PM

It's not really, it depends on you. there are some people who even lost their Bitcoin save in their hardware wallet. Basic in my experience, osoftware wallets is safe, I don't have a problem using a software wallet (electrum) for 3 years. I still have my 1st-time Bitcoin save on Electrum today. So, if you save your fund in a hardware wallet, but keep the seed phrase on PC or electronic gadget where always connect to the internet will surely be lost as well as the others.

You are right that if someone keeps his wallet attached everywhere or does not keep the seed phrases of his wallet safe, then his assets are always in danger.i appreciate your experience and surly your assets will be safe in your soft ware wallet,but many peoples assets are easily stolen by scammers from software wallets.

Software wallet don't have any special security features,so you only know when the scammers have done their job.on the other hand,if we talk about hard wallets,it has very good safety features.scammers cant get in easily and various password and safety features let you know in time. I myself using a hard wallet for a long time and i feel very comfortable keeping my assets in it. hard wallet is more secure without any risk.

blue Snow

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Quote from: leonair on July 27, 2023, 06:00:59 AM

However, software wallets are very risky.

It's not really, it depends on you. there are some people who even lost their Bitcoin save in their hardware wallet. Basic in my experience, osoftware wallets is safe, I don't have a problem using a software wallet (electrum) for 3 years. I still have my 1st-time Bitcoin save on Electrum today. So, if you save your fund in a hardware wallet, but keep the seed phrase on PC or electronic gadget where always connect to the internet will surely be lost as well as the others.

dlightag

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My first wallet was created direct from trust wallet app, which is used to receive TWT Coin as a new person in Blockchain and also guide by a friend, that told me of the airdrop that I got paid as of then and, when I see Bitcoin and other Coin's that list in the App and I was trigger to buy Bitcoin and hold in the wallet that gives me profits after a certain period of time sell.

BRINIRHA

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Quote from: aylabadia05 on July 27, 2023, 07:03:09 AM

Quote from: BRINIRHA on July 14, 2023, 11:35:09 AM

I think you have done the right thing in this regard (Using a safe place to store your long term Investment). Because some people even ignore this. And they stick with their hot wallets. But yeah, it's about caution as well as convenience. so as long as you can store your Seed Phrase safely then everything will stay safe.

Among the people on the ignore list that you mean there are those who are too concerned with security to keep their assets. They really care about wallet security even though they can only afford software wallets like the electrum wallet. Those who use the electrum software wallet have also done the right thing.

I agree hardware wallets are more secure to use, but using software wallets like electrum are also very safe as their use is taken care of properly. In terms of age, it can be said that it is short, maybe yes, because in the past two years I have been using electrum, nothing has happened.

So true. As I said before that as long as we can store our wallet seed phrases properly and safely then everything will be fine even if it's just a software wallet like you meant (elektrum) and another Bluewallet. Because basically it's about whether we can store safely or not. Even though we use a hardware wallet, we can't hide the Seed Phrase properly (it's not secure). So it will still be prone to theft. It's just that hardware wallets have a better edge in terms of security against phishing attacks and such.

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Quote from: leonair on July 27, 2023, 06:00:59 AM

The amount of bitcoins I have can be safely stored in a software wallet. However, software wallets are very risky. I think you won't have any trouble using it. I am thinking of ordering one very soon. thanks for sharing this here op. congratulations for your first purchase a hardware wallet

Software wallets that are run online are risky and prone to being hacked, but a software wallet can be as safe as a hardware wallet if the keys and seed phrase are generated and stored in a completely air-gapped device. If the device is never going to be connected to the internet, then it is safe to store your funds in them.

Quote from: Fivestar4everMVP on July 27, 2023, 02:29:10 AM

But now for those of you who are well experienced with this two wallet, and maybe ledger included, which of this is the best aside one being more expensive than the other? asking this because i know that for some products, being expensive does not necessarily mean they are the best.

Safepal and Ledger are not recommended hardware wallets, Safepal is closed source and has many other flaws, while Ledger is now a mess because of the new Ledger recovery service. Trezor as well is adding CoinJoin to the services they offer, but they are using Wasabi for their CoinJoin, which works with a blockchain analysis company to blacklist certain UTXO for reasons that only them know of, so i may not recommend any of these three wallets. But for open source hardware wallets options, check this topic: https://bitcointalksearch.org/topic/list-open-source-hardware-wallets-5288971

Topic: My First Wallet. (Read 661 times)