IMO, convenience and safety are 2 things that inversely proportional.
however, all wallets that give you the seeds are good. as long as the key is in your hands, it is 99% safe.
you are the man behind the gun at this point. you can find articles about software wallets or hardware wallets that become detrimental to their users.
no, it's not caused by the wallet itself, but the mistake usually came from the users, for example, lack of awareness regarding secure connection, malware, scam links, etc.
whatever wallet that you will choose, make sure to secure and backup your seed.
this thread might be helpful to find new insights on how to "safely" store your seeds.
https://bitcointalksearch.org/topic/--5278821
Topic: Selecting a proper way to store my Bitcoins - page 2. (Read 274 times)
Is it also possible to store Alt coins on these hardware wallets?
Same goes for ledger https://www.ledger.com/supported-crypto-assets
Links to download and remember to verify what you download.
Verify wallet's guides
Verify wallet's guides
Appreciate the short and informative reply, thank you!
In summary:
For more in-depth: https://cryptosec.info/wallets
- Software wallets: less secure, more convenient
- Hardware wallets: more security, less convenient
- Paper wallets: unless you know what you're going, big NO
- Web wallets: NO
For more in-depth: https://cryptosec.info/wallets
Thanks for the reply! I think a Trezor hardware wallet would be a good enough solution for now, as I am still learning ( Don't want to make a mistake that'll leave me coinless lol)
Is it also possible to store Alt coins on these hardware wallets?
Mostly yes, but it completely depends on what altcoins you're planning on holding. Both Ledger and Trezor supports most of the well-known cryptocurrencies. Is it also possible to store Alt coins on these hardware wallets?
Thanks for the reply! I think a Trezor hardware wallet would be a good enough solution for now, as I am still learning ( Don't want to make a mistake that'll leave me coinless lol)
Is it also possible to store Alt coins on these hardware wallets?
Is it also possible to store Alt coins on these hardware wallets?
Don't use Web wallets. They don't provide any tangible benefits whatsoever,
Desktop wallets like Electrum, Wasabi Wallet and Bitcoin Core are fine for normal use but they're not as safe as it's far more susceptible to malware attacks since you're using it all the time. They act more like a hot wallet to store small amounts of Bitcoin for easy and quick access. It's safe enough provided that you are able to manage your own security well.
Hardware wallets (Trezor, ColdCard) are much safer than those but comes at a price. I would recommend you to consider it if you want the convenience and have an idiot proof method to store Bitcoins. If possible, try to ship them to your PO boxes or a reshipper so you won't reveal your actual address. Do your own research before any purchase.
I can't really recommend people to use paper wallets. If you want, you can create a an air-gapped storage using two Electrum instances[1]. It provides similar security to an airgapped wallet if done correctly as it practically eliminates the possibility of a malware attack.
[1] https://electrum.readthedocs.io/en/latest/coldstorage.html
Desktop wallets like Electrum, Wasabi Wallet and Bitcoin Core are fine for normal use but they're not as safe as it's far more susceptible to malware attacks since you're using it all the time. They act more like a hot wallet to store small amounts of Bitcoin for easy and quick access. It's safe enough provided that you are able to manage your own security well.
Hardware wallets (Trezor, ColdCard) are much safer than those but comes at a price. I would recommend you to consider it if you want the convenience and have an idiot proof method to store Bitcoins. If possible, try to ship them to your PO boxes or a reshipper so you won't reveal your actual address. Do your own research before any purchase.
I can't really recommend people to use paper wallets. If you want, you can create a an air-gapped storage using two Electrum instances[1]. It provides similar security to an airgapped wallet if done correctly as it practically eliminates the possibility of a malware attack.
[1] https://electrum.readthedocs.io/en/latest/coldstorage.html
Hey guys, a noob member here, as I've learned, there are a few ways to store bitcoins: Software wallets, hardware wallets, Paper Wallets, and Web wallets.
Can you please explain to me in a nutshell, which way is the best as far as security & convenience?
Say for instance I have bought Bitcoins on an exchange like Binance, how do I transfer those bitcoins to the dedicated wallet?
BEST REGARDS
ramboitcoiner
Can you please explain to me in a nutshell, which way is the best as far as security & convenience?
Say for instance I have bought Bitcoins on an exchange like Binance, how do I transfer those bitcoins to the dedicated wallet?
BEST REGARDS
ramboitcoiner
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