Topic: Newbie Question (Read 1334 times)
If you hold yourbitcoins in an online wallet it could be hacked if you have a poor password. If you have your bitcoins in a wallet on your computer, it is much safer. So i would suggest to download a wallet and put ur coins at an offline wallet.
I'm still very confused about Bitcoin. Now, I opened a wallet from blockchain, ok? And you know, I have the identifier, pass, mnemonic info and etc...
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
If you want full proof wallet I will suggest wallet with full validation (you need to download whole blockchain, for now it is more than 40GB and growing).Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
As recent news shows there can be something called 'split' when some blocks can be invalid and it happen that Bitcoin Core 0.10.x or 0.9.5 are immune to this issue.
With online or simplified validation wallets you can never be sure.
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I do not recommend coinbase at all. Best way is to use Trezor or Paper wallet.
Why do you not recommend coinbase?
Why i am using it is the fact that is so easy. It's much easier than with all the hardware stuff managing the bitcoins.
But yes there are some limits of course.
Coinbase is under heavy regulation, they have limits on each account just like PayPal.
Isn't all of their bizarro behaviour self imposed? I would've thought they were so anxious to keep The Man off their back they'll be preempting any possible issues by being ultra twitchy.
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I do not recommend coinbase at all. Best way is to use Trezor or Paper wallet.
Why do you not recommend coinbase?
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I do not recommend coinbase at all. Best way is to use Trezor or Paper wallet.
Why do you not recommend coinbase?
You don't control your private keys on Coinbase, they also track where you spend your coins.
and add to that, that they will report any income that has the right to be reported to IRS, so if you're a america citizen, ironically it is better to use another exchange
also they are very slow, i heard about 5 business day for transfering money to your bank account,. or for deposit..
To keep it short and simple: "You dont control your bitcoins" - they are on someone's else hands.
I am not using coinbase to tranfer deposit from/to bank.
stop using blockchain.info if you have large amount of bitcoin and don't want to risk losing them.
my friend lost his bitcoin on blockchain.info wallet, granted it was his own fault but still he could've avoided that if he used an offline wallet,
my friend lost his bitcoin on blockchain.info wallet, granted it was his own fault but still he could've avoided that if he used an offline wallet,
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I do not recommend coinbase at all. Best way is to use Trezor or Paper wallet.
Why do you not recommend coinbase?
You don't control your private keys on Coinbase, they also track where you spend your coins.
and add to that, that they will report any income that has the right to be reported to IRS, so if you're a america citizen, ironically it is better to use another exchange
also they are very slow, i heard about 5 business day for transfering money to your bank account,. or for deposit..
Why do you not recommend coinbase?
The main reason people don't recommend it is because they're in charge of your private keys and you effectively just have a Bitcoin credit. In reality they no doubt do a better job securing them than most people but the principle stands.
Another reason is their fondness for shutting people down if they decide your activity is going to make them look bad. They seem to be monitoring addresses to gambling and dark market sites.
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I do not recommend coinbase at all. Best way is to use Trezor or Paper wallet.
Why do you not recommend coinbase?
You don't control your private keys on Coinbase, they also track where you spend your coins.
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I do not recommend coinbase at all. Best way is to use Trezor or Paper wallet.
Why do you not recommend coinbase?
Just a heads up, Ledger has a low end HW wallet that is something like 15 dollars. It is basically the same thing as the other wallet but with less snazzy packaging. It depends on how much you are storing, if it si worth it or not. But imo this is a great intro wallet.
I'm still very confused about Bitcoin. Now, I opened a wallet from blockchain, ok? And you know, I have the identifier, pass, mnemonic info and etc...
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
don't forget to enable 2fa on your blockchain.info wallet . it adds an extra layer of security. also never use TOR with your wallet there, you most probably going to lose all your bitcoins.Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
for better wallets use bitcoin-core or armory if you can download the whole blockchain. or Electrum if you want to download a small amount of data.
I'm still very confused about Bitcoin. Now, I opened a wallet from blockchain, ok? And you know, I have the identifier, pass, mnemonic info and etc...
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
You need something extra if you want to store big amount, hardware wallet is good choice or if you don't have a budget for buy hardware wallet, cold wallet is good choice too. https://bitcoin.org/en/choose-your-wallet
I'm still very confused about Bitcoin. Now, I opened a wallet from blockchain, ok? And you know, I have the identifier, pass, mnemonic info and etc...
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
You should absolutely set up 2-factor if you're using an online wallet, preferably to your cell phone. Make sure to safely back up your wallet regularly too but don't forget the mnemonic or make sure you've written it down properly in the first place.
We know that we can set up 2-factor (also in coinbase that i am using), but have you ever wonder if you reset your phone and all the data is lost.
How would we recover the codes or anyway, because we can lost a large amount of bitcoins.
I'm still very confused about Bitcoin. Now, I opened a wallet from blockchain, ok? And you know, I have the identifier, pass, mnemonic info and etc...
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
You should absolutely set up 2-factor if you're using an online wallet, preferably to your cell phone. Make sure to safely back up your wallet regularly too but don't forget the mnemonic or make sure you've written it down properly in the first place.
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I do not recommend coinbase at all. Best way is to use Trezor or Paper wallet.
I have seen many wallets that you can use only if you put the usb to the pc, login and transfer.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I personally use coinbase. Good to start but not safe as others. Your bitcoins are hold by someone else.
I don't use blockchain.info any more. The machine you access it with will always be the weak spot and they themselves have had a few issues too. For smaller amounts I use a phone wallet now. Mycelium does a nice job.
Indeed, you can also use a Trezor hardware device.
I'm still very confused about Bitcoin. Now, I opened a wallet from blockchain, ok? And you know, I have the identifier, pass, mnemonic info and etc...
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
Do I need to something extra? I mean, isn't this enough? Why people are using other wallets?
Make sure you have all these info saved.
Some people use other wallets because of the security or they simply prefer the layout of other wallets.
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