Some questions about Bitcoin wallets

Commie

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Quote from: jackg on September 21, 2017, 02:43:58 PM

Having the recovery seed is better than having private keys.
You CANNOT import private keys into a HD wallet, it's just not possible for it to be useable or storable and would require another wallet that is non deterministic.

When importing a private key, it's a good idea to sweep the key so you don't have to keep that key stored somewhere for you to get it after. Sweeping does cost you in fees though.

Could you please elaborate on why seed is better than a private key in case of a single currency wallet? I don't really see any difference.

jackg

copper member

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https://bit.ly/387FXHi lightning theory

Quote from: Commie on September 21, 2017, 01:36:45 PM

Quote from: CP9 on September 21, 2017, 10:54:25 AM

I guess private keys and recovery seed are the same important having bitcoin wallets, they will give you a recovery option once you have atleast one of that two I mentioned. Having the recovery seed is the same with having private keys, I am right? Can anybody answer this question of mine.

It's a bit more complicated. Say, I use a multicurrency wallet like Jaxx and a Electrum btc wallet. I can export btc keys from Jaxx and import them later into Electrum, yes, I also can back up the whole wallet with seed. But I can't import my private BTC keys from Electrum into this seed, it won't allow me.

Having the recovery seed is better than having private keys.
You CANNOT import private keys into a HD wallet, it's just not possible for it to be useable or storable and would require another wallet that is non deterministic.

When importing a private key, it's a good idea to sweep the key so you don't have to keep that key stored somewhere for you to get it after. Sweeping does cost you in fees though.

Commie

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Activity: 621

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Quote from: CP9 on September 21, 2017, 10:54:25 AM

Quote from: billy.ryoko on September 16, 2017, 06:11:06 AM

Your comment are very useful for me, I now using the blockchain for the web and mobile wallet, but now cannot
holding the private key with myself, do you know how can I find my key?

I guess private keys and recovery seed are the same important having bitcoin wallets, they will give you a recovery option once you have atleast one of that two I mentioned. Having the recovery seed is the same with having private keys, I am right? Can anybody answer this question of mine.

It's a bit more complicated. Say, I use a multicurrency wallet like Jaxx and a Electrum btc wallet. I can export btc keys from Jaxx and import them later into Electrum, yes, I also can back up the whole wallet with seed. But I can't import my private BTC keys from Electrum into this seed, it won't allow me.

CP9

newbie

Activity: 3

Merit: 0

Quote from: billy.ryoko on September 16, 2017, 06:11:06 AM

Your comment are very useful for me, I now using the blockchain for the web and mobile wallet, but now cannot
holding the private key with myself, do you know how can I find my key?

I guess private keys and recovery seed are the same important having bitcoin wallets, they will give you a recovery option once you have atleast one of that two I mentioned. Having the recovery seed is the same with having private keys, I am right? Can anybody answer this question of mine.

Commie

full member

Activity: 621

Merit: 108

Quote from: Sehorn 666 on September 21, 2017, 03:20:27 AM

yes it can be hacked it is Depend your security but blockchin.info is best one Because you can choose ip blocking

Please stop misleading people into thinking that online wallets are the best ones. Yes, they are very convenient, but unless you control your own private keys you are at high risk. Suppose you try to log in tomorrow and the website isn't there anymore, then what? Right, you're screwed.

Sehorn 666

newbie

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yes it can be hacked it is Depend your security but blockchin.info is best one Because you can choose ip blocking

redoykhan

member

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Quote from: thomasonil on September 15, 2017, 01:28:54 AM

i want to know more about bitcoin wallets. what kind of wallet should be chosen for better transaction and security?help me out kindly

you can use desktop wallet.like electrum or core wallet

chr!snes

newbie

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go to blockchain.info best one for me

jhannlenris

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Quote from: thomasonil on September 15, 2017, 01:28:54 AM

i want to know more about bitcoin wallets. what kind of wallet should be chosen for better transaction and security?help me out kindly

Sir before you ask question please try to review this topic to give you a great idea about bitcoin wallet. Maybe they will give you some advice but if you dont have enough idea about different types of wallet then it is not easy for you to understand their proposals and you cant appreciate it.

Here is the topic link please read eat, thank you and good luck.

https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151

billy.ryoko

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Quote from: dothebeats on September 16, 2017, 05:53:38 AM

There's only mobile wallets, paper wallets, lite wallets and desktop wallets that you can choose from.

Mobile wallets - these wallets can be installed on your smartphone and can be used on the go. Such wallets are Mycellium and Bitcoin Wallet.

Paper wallets - these are designed for the long-term storage of your coins without compromising the security since you'll be keeping it offline. You can still spend whatever is loaded in the wallet though you need to export the private keys to a new wallet.

Lite wallets - carries the same features of a desktop wallet though does not have the full copy of the blockchain. The most prominent lite wallet is Electrum.

Desktop wallets - these are the wallets in which you can do almost all technical stuff re: sending coins and keeping it. It has the full copy of the blockchain (which technically makes your pc a full node) so expect a long download and sync time.

It all depends on how are you going to use your coins because all wallets can send and receive and have the same level of security embedded to them.

Your comment are very useful for me, I now using the blockchain for the web and mobile wallet, but now cannot
holding the private key with myself, do you know how can I find my key?

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

There's only mobile wallets, paper wallets, lite wallets and desktop wallets that you can choose from.

Mobile wallets - these wallets can be installed on your smartphone and can be used on the go. Such wallets are Mycellium and Bitcoin Wallet.

Paper wallets - these are designed for the long-term storage of your coins without compromising the security since you'll be keeping it offline. You can still spend whatever is loaded in the wallet though you need to export the private keys to a new wallet.

Lite wallets - carries the same features of a desktop wallet though does not have the full copy of the blockchain. The most prominent lite wallet is Electrum.

Desktop wallets - these are the wallets in which you can do almost all technical stuff re: sending coins and keeping it. It has the full copy of the blockchain (which technically makes your pc a full node) so expect a long download and sync time.

It all depends on how are you going to use your coins because all wallets can send and receive and have the same level of security embedded to them.

elegion

member

Activity: 108

Merit: 10

In 2010 and in 2011 I was using Bitcoin core. Actually, in the early days I was using a paper wallet.
And then in 2014 I was using the mycelium android app on my android phone. I now I use Trezor to keep everything in cold storage and I use coinomi for small transactions. I still have some paper wallets that I laminated from late 2010. What I'm trying to say is that technology will always advance to force you to experiment, learn, and change.

Hanebel

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Quote from: A1exander on September 15, 2017, 01:46:54 AM

It depends on the amount of coins, number and frequency of transactions you expect to make, and even the hardware you have. For long-term secure storage of significant amounts you may consider a 'cold' wallet (created on a freshly configured computer or a virtual machine which is offline and guaranteed to be free of malware) or hardware wallet. For small amounts and frequent transactions even online wallets or mobile devices may be OK. Personally I prefer Electrum (https://www.electrum.org) as a lightweight desktop client. It is frequently recommended here, fast, easy to use and secure, and also a good choice for cold storage. Full client is for enthusiasts only, it requires more than 150 GB of storage for the blockchain.

I'll check this, I am also looking for a reliable bitcoin wallet

Ke!th

newbie

Activity: 17

Merit: 0

it is depend on coin that you want to use and number of altcoin that you want

for bitcoin best is blockchine.info

escapefrom3dom

sr. member

Activity: 1932

Merit: 288

Quote from: Nifftini on September 15, 2017, 11:52:09 PM

Anyone recommend a nano ledger?

quite an acceptable option.

read the article to find out all the details:
https://99bitcoins.com/ledger-nano-s-review-bitcoin-wallet-better-than-trezor/

Nifftini

newbie

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Anyone recommend a nano ledger?

TaKlarPH

full member

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Well now they answered your question. I would like to add that sometimes campaigns different campaigns ask wallet different wallets like if they ask ETH you can use the wallet for specifically for ether coins but if they ask waves you should gives waves.

CarlOrff

sr. member

Activity: 826

Merit: 440

Quote from: thomasonil on September 15, 2017, 01:28:54 AM

i want to know more about bitcoin wallets. what kind of wallet should be chosen for better transaction and security?help me out kindly

To be sure to have the best wallet, the more compatible and the more secure, there is no choice : bitcoin.core.
This wallet is a real wallet, then you have to download locally the blockchain (~150 GO and one week).
Then, the best is to install this wallet somes days before making your first transaction.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

I'm going to assume that you are talking about the fees and confirmation times when you said better transactions. In that case, use a wallet that allow dynamic fees such as Electrum, the wallet is pretty secure as long as your PC have no malware etc. but If you want to go with something safer, I suggest a hardware wallet (Trezor or Ledger Nano S) If you have large amounts because It wouldn't make sense to store 10$ in a 100$ device.

A1exander

full member

Activity: 336

Merit: 102

It depends on the amount of coins, number and frequency of transactions you expect to make, and even the hardware you have. For long-term secure storage of significant amounts you may consider a 'cold' wallet (created on a freshly configured computer or a virtual machine which is offline and guaranteed to be free of malware) or hardware wallet. For small amounts and frequent transactions even online wallets or mobile devices may be OK. Personally I prefer Electrum (https://www.electrum.org) as a lightweight desktop client. It is frequently recommended here, fast, easy to use and secure, and also a good choice for cold storage. Full client is for enthusiasts only, it requires more than 150 GB of storage for the blockchain.

Topic: Some questions about Bitcoin wallets (Read 769 times)