Topic: Safe wallet for a newbie - page 10. (Read 7223 times)
Yeah, don't use coinbase if you plan on using any bitcoin for gambling. It's against their ToS and they may freeze your account.
As a newbie I would recommend you to still use the blockchain wallet because its maybe online its very safe due to the fact it has 2 way verification.
well but as far as i know there were occasions when the wallets were hacked and people lost bitcoins from them so i doubt that it would be a great decision to use it for newbiei would definitely choose a multibit desktop wallet if i wanted to have a safe and easy to use wallet as it is a newbie friendly wallet and impossible to hack if you dont have viruses
As a newbie I would recommend you to still use the blockchain wallet because its maybe online its very safe due to the fact it has 2 way verification.
Nice! Thank you for sharing!
I use a multibit (old one) but I am not happy with it
For a newbie, first of all your should try some online wallets like coinbase, xapo, etc., just to understand how does Bitcoin works. After that you may try some desktop wallet or hardware wallet or may be some paper wallets.
I would concur with this.
Advantage of online wallets are ease-of-use and the wallet provider takes care of backups to prevent risk of loss of the wallet. The disadvantage is that they can potentially be hacked or go offline.
Longer-term you should (probably) use offline wallets like Electrum or a hardware wallet or paper wallet. The advantage here is you are in control and you don't need to trust or rely on a 3rd party. The disadvantage is that you may be more vulnerable to being hacked (or physically robbed) than an online provider. And you NEED to keep backups, in a secure manner, of any offline wallets - sooner or later you'll suffer a hard drive failure, or a house fire, or a lightning strike. The risk of theft must be balanced against the risk of losing access to your private key(s).
Go with Electrum or Multibit. I wouldn't recommend blockchain.info because there's at least 2 threads on this forum where people have reported what appears to be blockchain.info generating an address that is not associated with their wallet's xpub
I agree with your recommendation about Electrum. It's what I use, and I like the fact that you don't have to download the entire blockchain, which saves a lot of hard drive space.
I am reading the forum daily and am registered here a few days ago.
What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
I would suggest you or an online wallet or a hardware wallet. An online wallet like coinbase is good start for a newbie, it is accessible from many devices and also they have their own native mobile app both for iOS and Android, so it is portable. The cons of it is that they do not provide you with the private key (but you can sign bitcoin message). About hardware wallet they have different price and each has different features, it's like an USB plug & play.
I would say Coinbase is the simplest not techy wallet out there.
I use Blockchain's wallet from the start up to now. Never ran into problems. I use 2FA, and second passwords in the wallet to keep it secure. I'd recommend you also do so if you plan on using online wallets.
I'd say Multibit is probably one of the best because of its reputation and easiness to use, good for long-term holding as well.
However, I do use Xapo in doing little transactions because there's practically no tx fee so why the heck not and besides, I don't put more than 0.10BTC in my Xapo wallet.
However, I do use Xapo in doing little transactions because there's practically no tx fee so why the heck not and besides, I don't put more than 0.10BTC in my Xapo wallet.
You could also try out a hardware wallet like a Trezor, if you have some spare money to burn. Since it started.. I have never heard of anyone saying they lost a single cent, using their wallet. There
were some issues with Blockchain.info {Random generator} a while ago, but I think this is solved. The general rule will be not to save too much money in these online wallet providers and to always
find a way to have 100% control over your private keys.
were some issues with Blockchain.info {Random generator} a while ago, but I think this is solved. The general rule will be not to save too much money in these online wallet providers and to always
find a way to have 100% control over your private keys.
Any wallet is as safe as you make it to be, with careless practices you can (most definitely will) lose money from any wallet, there are tonnes of tutorials on safe keeping of your bitcoins, read up on them and then choose. My personal recommendation is Electrum.
Give these a read:
https://en.bitcoin.it/wiki/Securing_your_wallet
https://bitcoin.org/en/secure-your-wallet
Give these a read:
https://en.bitcoin.it/wiki/Securing_your_wallet
https://bitcoin.org/en/secure-your-wallet
For a newbie, first of all your should try some online wallets like coinbase, xapo, etc., just to understand how does Bitcoin works. After that you may try some desktop wallet or hardware wallet or may be some paper wallets.
Yeah, let him do that and he will learn the hard way when his coins will be frozen by Coinbase when he ever try to send BTC to any gambling services 'unsupported' by Coinbase.I think good wallets for newbie are Electrum, Multibit and Hive (although I never tested it myself, I only read some opinions).
It all comes down to a lot of what you are looking for, and what you think you can handle.
If you are confident with your ability and have the funds to make copies of the wallet and keep them in offline storage devices, then a lot of the desktop wallets such as Electrum and Armory would be relatively good places to put your funds in.
If you would rather having something online to keep it safe, Coinbase with 2FA or Blockchain would be equally good choices, and just depends on your preference.
If you are confident with your ability and have the funds to make copies of the wallet and keep them in offline storage devices, then a lot of the desktop wallets such as Electrum and Armory would be relatively good places to put your funds in.
If you would rather having something online to keep it safe, Coinbase with 2FA or Blockchain would be equally good choices, and just depends on your preference.
I am reading the forum daily and am registered here a few days ago.
What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
My gut feeling would guide you towards either electrum or multibit HD. They're SPV wallets, meaning they only download headers from central servers, so you don't have to download and sync the full blockchain, while they still keep your private keys on your own computer.
Also, the fact that they can easily be backupped by writing down the seed words on a piece of paper is a big plus.
Electrum allows a bit more coin controll, while multibit HD hides a lot for a new user... They both have their advantages and disadvantages.
Bitcoin core is the 'default' wallet. It has allmost all feature imaginable, but i personally feel the learning curve is a bit steeper, and the syncing might take a couple of days.
I'd personally stay away from online wallets due to safety aspects. Just google for "blockchain.info wallet hacked" or similar, and you'll hopefully see what i mean.
Go with Electrum or Multibit. I wouldn't recommend blockchain.info because there's at least 2 threads on this forum where people have reported what appears to be blockchain.info generating an address that is not associated with their wallet's xpub
For a newbie, first of all your should try some online wallets like coinbase, xapo, etc., just to understand how does Bitcoin works. After that you may try some desktop wallet or hardware wallet or may be some paper wallets.
I am reading the forum daily and am registered here a few days ago.
What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
For me personally Blockchain is still the best.What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
If you use 2 step authentication with then, have Antivirus program up to date on your computer and don't share your password you will be safe with them.
Of course, there is no such thing as ''absolute'' security on Internet but if you don't keep to much funds in one wallet youn will be ok.
Other idea is to keep Bitcoin offline.
I am reading the forum daily and am registered here a few days ago.
What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
What do you people suggest for a safe wallet for a newbie, I am not that tech guy , just the average joe with computers.
I have read that Blockchain.info is one of the best wallets, but I have also read that there are a lot of other wallets that they call local wallets like Bitcoin core Multibit Electrum and Armory also phone wallets. Which is one you can sleep safe at night ?
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