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South Park

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Quote from: GlobalMilk99 on March 13, 2023, 07:30:27 PM

Quote from: Edwardard on March 13, 2023, 06:42:12 AM

Just to add, Some ppl can't afford to buy a trezor since their investment in crypto itself is much smaller than the cost of trezor. You should recommend other security tips like using paper wallets, never save your seeds online, etc. And once their investment gets larger over time, they can switch to a hardware wallet.
P.S.: I hardly use a hardware wallet for myself, but Im still safe coz I know what precautions to take Wink

I researched some hardware wallet that might be useful for more security for investing in crypto. But I might try to wallet apps first, since I still don't have much that money on me right now to invest in hardware wallet, as much as I would like to buy one right now.

Do not worry, many people begin their journeys just like you, they do not have the money to afford a hardware wallet and they prefer to use a wallet like electrum, however this does not mean that you cannot take steps to protect you, hardware wallets are a ready-made solution for those that do not want to learn or think it is too complicated to secure their coins on their own, however if you are willing to put the effort a regular wallet can be made to be incredibly secure, if you take the right steps.

GlobalMilk99

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Quote from: Edwardard on March 13, 2023, 06:42:12 AM

Quote from: danherbias07 on March 13, 2023, 06:29:12 AM

Trezor would be the best investment you could ever make.

Just to add, Some ppl can't afford to buy a trezor since their investment in crypto itself is much smaller than the cost of trezor. You should recommend other security tips like using paper wallets, never save your seeds online, etc. And once their investment gets larger over time, they can switch to a hardware wallet.
P.S.: I hardly use a hardware wallet for myself, but Im still safe coz I know what precautions to take Wink

I researched some hardware wallet that might be useful for more security for investing in crypto. But I might try to wallet apps first, since I still don't have much that money on me right now to invest in hardware wallet, as much as I would like to buy one right now.

Quote from: @sriyan on March 13, 2023, 05:55:53 PM

It is better to use a hardware wallet to hold the crypto. I am using a safepal hardware wallet. When it comes to a trust wallet, there may have a possibility of getting hacked. They have only 12 phrases in the seed phrase. Also, there are a lot of other options like cold wallets and hot wallets.

I am thinking of buying safepal as of now, when I searched and compare the prices between safepal and trezor, I would go to safepal. But when it comes to security, I would go to Trezor, as my friend suggested as well. We'll never know. Maybe in the next few months I am gonna be able to buy hardware wallet. But again, as of now, I am just gonna be using crypto wallet app for now.

@sriyan

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

It is better to use a hardware wallet to hold the crypto. I am using a safepal hardware wallet. When it comes to a trust wallet, there may have a possibility of getting hacked. They have only 12 phrases in the seed phrase. Also, there are a lot of other options like cold wallets and hot wallets.

Edwardard

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Quote from: danherbias07 on March 13, 2023, 06:29:12 AM

Trezor would be the best investment you could ever make.

Just to add, Some ppl can't afford to buy a trezor since their investment in crypto itself is much smaller than the cost of trezor. You should recommend other security tips like using paper wallets, never save your seeds online, etc. And once their investment gets larger over time, they can switch to a hardware wallet.
P.S.: I hardly use a hardware wallet for myself, but Im still safe coz I know what precautions to take Wink

danherbias07

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There will be a time you will get lazy about going back and forth from the trading platform to the wallet. I recommend having a habit to do it, that way it will be added to your own system if withdrawals are needed to happen.
Trezor would be the best investment you could ever make. It's not like there's an expiry for it or if they close down all your coins will be gone. They can still be accessed as long as you have your 24-word recovery phrase.
An investment for better security which all crypto users are dreaming of as we are always prone to attacks being online.

stadus

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

Traders usually don't use exchange wallets to keep their funds and that is what you need as well. Many replies above mention hardware wallet and Electrum wallet, and many more. Perhaps you can choose from those wallets but I suggest you not keep all of your funds in a single wallet for some security reasons. I don't say that they are totally safe but at least they are safer than using an exchange wallet because you have full control of it.

Well, the only I can say to you is that good luck in your trading journey. And please keep in mind that not only do you have the keys/passwords in your wallet, then you can say you are safe but can't underestimate hackers as they can send you links leading to such thing.

borovichok

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Quote from: Yawa2020 on March 12, 2023, 09:47:53 AM

Trading is not as easy as it seems unless you are ready for the consequences ahead of you. From your post above, I don't think you are well experienced in cryptocurrency not to talk of involving yourself in crypto trading. You can not succeed in trading if you attach emotions and yes get ready to lose part or even all of your money in trading. Don't just jump into trading mate. Learn the basics and everything necessary first. Concerning the wallet, I can see a lot of recommendations in the thread already. You can choose wisely, good luck.

Every potential trader and investor is willing to go through great lengths to succeed in ensuring that they remain stable in the market. You are entirely correct that trading is complicated because it contains both risks, which can lead to either profits or losses. The best moment to learn about the market is right now since if one keeps putting it off, time will run out. There is a strong likelihood of gains a few years ago rather than now the more you wait and the more complicated the space appears to be. The only things needed to get started with cryptocurrency are the fundamentals and the type of wallet or exchange to utilize.

darewaller

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Quote from: GeorgeJohn on March 11, 2023, 07:53:18 AM

Actually reading the link sent you by other users will make give you more insight of Trading, but as beginner who is inquisitive or interactive to know of Trading have to go into deep research of knowing the key points that will enhance a successful trading and other possible default that hinders trading by using YouTube tutorials videos and reading articles that's mainly concentrate on trading caution, and secondly you can be practicing trading with little amount fund's you can afford to lose to test run your ability in trading and it will enables you to detect errors and which will make you to know the possible way to Bypass them when you encounter it again. For the aspect of wallets to hold your bitcoin, I will recommend electrum.

I scan all the links given by other users and it was just a link to Electrum and other Bitcoin wallets because the OP is asking that thing too. So far there are no links given in regards to trading but maybe there are some helpful post here about it. Youtube can be a good platform to learn trading because the tutorials are mainly offered through videos.

I don't know any "good crypto trading channels" but the OP can just search the same keyword in the search box of Youtube and he can go on the videos with a lot of views because that must be the easiest and most informative video. I think there is no need to remind them about using tiny funds because I am sure they already know it. No one wants to start with big amounts with limited knowledge on their head because that is too risky.

crwth

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Many members have posted useful threads to help you decide what to get. I would add some ideas that I think haven't been posted yet.

I think you should have at least three wallets.

Cold wallet - this will be your main reserve or HODL wallet
Semi-cold wallet - Maybe use as a wallet to receive stuff that you put out to the world
Hot wallet - your everyday spending wallet. Ideally, the one in your smartphone

If you are a crypto enthusiast, having at least three for different reasons would be best. Mainly it will be about security, and you need to invest in a great hardware wallet. Using a suitable hot wallet in your country would be one of the best things to use.

bettercrypto

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Quote from: South Park on March 10, 2023, 02:43:39 PM

Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

You are probably going to end up using the wallet of your favorite exchange as your main wallet if you become a trader, in theory traders should send their coins out of the exchange at the end of the day, but since they do not want to miss any potential movement of bitcoin they prefer to keep their coins at those exchanges as not only this saves time but it saves money on fees as well, unfortunately even if this seems like the right thing to do you will be risking your money if you do this, and if the exchange collapses your capital goes down with them, so if you are serious about the security of your coins then you will get a hardware wallet and deposit your coins there at the end of your session.

I like what you said that it's good to use a hardware wallet if you have a profit in cryptocurrency that seems to be what you're trying to convey, right?

This is exactly what should be done, with every profit we get from doing crypto trading, it should be separated immediately and transferred to a safer container which is the Hardware wallet. Every time we save little by little, we don't realize that it is growing as days or months pass.

Yawa2020

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

Trading is not as easy as it seems unless you are ready for the consequences ahead of you. From your post above, I don't think you are well experienced in cryptocurrency not to talk of involving yourself in crypto trading. You can not succeed in trading if you attach emotions and yes get ready to lose part or even all of your money in trading. Don't just jump into trading mate. Learn the basics and everything necessary first. Concerning the wallet, I can see a lot of recommendations in the thread already. You can choose wisely, good luck.

Sorryfor

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

Since you are looking for a good wallet to keep your money safe. I would say if you invest in crypto then definitely use if you lose otherwise definitely use software wallet. Using a software wallet for you will keep your money safe with no chance of being hacked.
https://electrum.org/#download
https://cryptosec.info/wallets
https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151
https://bitcointalksearch.org/topic/guide-how-to-safely-download-and-verify-electrum-guide-5240594

Ziskinberg

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Quote from: AicecreaME on March 11, 2023, 05:40:55 AM

Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

I've been using Electrum for almost 5 years already and thanks to God nothing bad happens. Hardware wallet is the best for me and cold wallet is the second of the best. Always make sure your funds are safe and invest as well on best wallets as much as possible to avoid losing all of your funds. Also don't put all of your funds in just one wallet.

Electrum wallet can be trusted and many individuals are still using this for many years because it was free and also the security is high. But of course, if we are storing huge amounts, it was suggested to acquire a hardware wallet for this. But as OP is just doing trading, I would say it was preferred to use a wallet that is very accessible anytime, and using Electrum is suitable for this. Besides, he can move some of his profit to a hardware wallet in case he has it already.

Nrcewker

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

There are many online wallets available, which offers various features and tempting rewards. And I have seen most of the newbies join those, in the greed of exciting rewards and cashbacks, but remember one thing, online wallets are traps. You never completely own your wallet. If possible always go for cold wallets, Electreum will be best wallet, which is currently available in the market. If you want to invest more, you can also buy hardware wallet like Trezor, which will give you top most security to your coins. But these hardware wallets are generally expensive, so choose the wallet accordingly.

tjtonmoy

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

what would be the best cryptowallet to use at this time?

If you have enough assets to invest, then don't compromise on security. Just buy a good hardware wallet. That should keep you and your assets safe. But if you are unable to spend that money on hardware wallets, I think electrum would be a good option. I use it myself and haven't faced any problem till now. But can't say for sure if anything will happen in the future. DYOR on this and as I said before, the best option is hardware wallets.

Husires

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Almost all of us asked this question in the early days, and the answer to this question varies every few years, so set certain criteria for the things you want in the wallet, and then you will get an easy answer to your question.

Closed source wallets are not good for those who want to keep Bitcoin for a long time or invest large amounts, but they contain many attractive options for those who want to trade with small amounts.
Open source wallets are good for long-term retention, but you first want to review the code yourself or trust someone who reviewed the code, but they are not good at dealing with modern variables, such as updating altcoins periodically and merging with new technology.

Hardware wallets are still an excellent option if you are willing to afford them and learn how to use them.

GeorgeJohn

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Actually reading the link sent you by other users will make give you more insight of Trading, but as beginner who is inquisitive or interactive to know of Trading have to go into deep research of knowing the key points that will enhance a successful trading and other possible default that hinders trading by using YouTube tutorials videos and reading articles that's mainly concentrate on trading caution, and secondly you can be practicing trading with little amount fund's you can afford to lose to test run your ability in trading and it will enables you to detect errors and which will make you to know the possible way to Bypass them when you encounter it again. For the aspect of wallets to hold your bitcoin, I will recommend electrum.

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

You want to trade and now, you are asking for the best cryptowallet?
I mean you want to trade right? So isn't it that you will store your coins at an exchange like Binance because you want to trade? Your question isn't correlated at all because you are asking for a crypto wallet and yet, you also want to trade. Just store your coins in an exchange if you really want to trade.

Now to answer your question, many already said that having a hardware wallet would be the best choice, but if you can't afford to have one then I would suggest Electrum or something that you hold the private keys for it. Just don't store your wallet in a custodial wallet especially if you will be holding that coins for a long time.

Cedie

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Quote from: bettercrypto on March 10, 2023, 12:39:26 PM

Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

If you are the type of person who always leaves and goes everywhere, the wallet I can advise you to use is Trustwallet, for me it is proven and tested and many people use it.

But if you're always at home, I think it's better to use the electrum wallet on your desktop or laptop. Or as most people say, Hardware wallet is recommendable to use if you have something to buy that can be ordered and bought on amazon and other online shops that are legit of course.

If you’re are looking into diversity, that is holding a lot of coins on different network then Trustwallet is okay. Tho most non custodial wallet are okay if you don’t give out your wallet phrase but if you want a very secure wallet, I agree that the hardware wallet is the best, like ledger.

AicecreaME

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Quote from: GlobalMilk99 on March 08, 2023, 11:45:19 PM

I had a different thread on how to start on Bitcoin and had so many useful and helpful knowledge given to me at that thread. I just wanna say thanks to all those who replied to my post. And also, yes, I will be starting to do trading on cryptocurrencies. With that being said, I also want to take this opportunity to ask, what would be the best cryptowallet to use at this time?

I've been using Electrum for almost 5 years already and thanks to God nothing bad happens. Hardware wallet is the best for me and cold wallet is the second of the best. Always make sure your funds are safe and invest as well on best wallets as much as possible to avoid losing all of your funds. Also don't put all of your funds in just one wallet.

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