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yhiaali3

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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 good wallets in which you can store your coins, but before choosing, you should pay attention to the following:

- Stay away from web wallets and centralized exchanges as they are the worst.
- Keep the seed or private key in a safe place and do not give it to anyone for any reason.
- Hardware wallets are the best but they are not free.
- There are wallets for bitcoin only, the best of them is Electrium, but if you want a multiple wallet for bitcoin and altcoin,
there is TrustWallet and AtomicWallet.
- Always make sure to download the original wallet file from the original website. And beware of phishing sites.

jeraldskie11

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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?

The best crypto wallet to use is the wallet that is non-custodial and open source wallet such as:

Electrum
Mycelium

One thing you have to consider is to make sure that your device is not infected with "malware", because there's some cases of hacking cause by that. If "2fa" is available to a wallet, make sure to add it for more security.

jossiel

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Any wallet that's known and gives you the seed or private keys but with the easiest version of it, Electrum. This is only for bitcoin so if you're trading bitcoin/usd or bitcoin/usdt pair then Electrum is only for bitcoin so don't forget about that.

Usually traders are keeping their funds on exchanges and that's not recommended unless it's an amount that you afford to lose. If you happen to earn some bitcoins, don't be too lazy to withdraw it and transfer it to your chosen wallet like Electrum.

Also, there are multi-cryptocurrency wallets that you can also try like Exodus, Atomic, etc. they provide various supports for many cryptocurrencies.

South Park

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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?

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.

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Quote from: benalexis12 on March 10, 2023, 09:56:11 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?

If you are going to do crypto trading in this business field, I think the exchange site platform is fine, it just depends on you if you use a centralized or decentralized platform, where you feel comfortable doing your trading activity. But if you are a long term holder, and you can afford to buy a hardware wallet or Ledger nano is better. However, if you don't have a budget, you can also use the Electrum wallet for desktop or if you use a Cellphone, you can use Trustwallet and if you use Ethereum, you can use Metamask.

I agree that long term holders should be getting at least one ledger based on how much money they have.
It may not be that much cheaper for someone who lives in a poor nation and only has like 500 dollars saved, that may sound like a very little amount of money to you but there are people from Venezuela or Argentina who have an account here and having 500 dollars saved for them is a huge amount, if they somehow could get 10x return, which is not impossible in this market, 5000 dollars would mean they are basically very rich in their nation.

I am sure that an American would not care about that or even save that much during high school by working on McDonalds, but that is not how rest of the world feels.

Jody.Drummer

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There will be many choices about which wallet you use, but for me personally a hardware wallet is the top choice to use. Especially if your assets are large and intended to be held in the long term. I think you have to distinguish if you are a person who does a lot of transactions, I mean the hardware you use to hold long-term assets, and you can use a trust wallet or something else if you do a lot of transactions.
But the main thing is the hardware wallet that I recommend.

bettercrypto

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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?

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.

Lucius

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Quote from: dzungmobile on March 09, 2023, 01:30:02 AM

I am not sure Trust wallet is a most common one but even so it is a close source wallet and it is owned by a centralized exchange Binance. They acquired Trust wallet three years ago.

You know, we already discussed why people have great trust in that wallet, and I concluded that it is because of the name. Believing in something just because it's called "trust" is quite naive, but it seems to be very important to most people, regardless of the closed source and the owner.

huu78

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of all the crypto wallets that I use and know, maybe the choice is in trustwallet because it's easier and simpler and also supported by many types of coins and chains, making it easier for us to add tokens and coins directly.

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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?

If you are going to do crypto trading in this business field, I think the exchange site platform is fine, it just depends on you if you use a centralized or decentralized platform, where you feel comfortable doing your trading activity. But if you are a long term holder, and you can afford to buy a hardware wallet or Ledger nano is better. However, if you don't have a budget, you can also use the Electrum wallet for desktop or if you use a Cellphone, you can use Trustwallet and if you use Ethereum, you can use Metamask.

ethereumhunter

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Quote from: Pandu Geddon on March 09, 2023, 08:44:52 AM

Quote from: ethereumhunter on March 09, 2023, 02:52:39 AM

If you want to trade, you don't need a crypto wallet to store your coins because you still need them to sell and buy. But when you want to save the profits you earn from trading, you can use one or several wallets such as Trust wallet, Blue wallet, or hardware wallets such as Ledger, Trezor or others. But many people will advise you to use hardware wallets to store your coins. Trading and investing or depositing coins are different and it is not recommended to store your coins on an exchange.

Now there will be more traders who attract their assets to their private wallets after completing trading. And deposit it again when they are going to trade. Of course, you know the reason.
Hardware wallets such as Trezor will be further advised to be used to store assets after trading. Using a Trust wallet may also be done but still risky.
Safepal Wallet also has an alternative for hardware. So maybe it can be considered.

Yes, it should be like that so we can prevent things we don't want that can happen at any time. Although it will certainly involve transaction fees, it is better and we can feel safe keeping an eye on our assets in our private wallets. Trezor and Ledger are an option for users but some users prefer other wallets which may cost nothing to buy. But it's better to store all assets in a hardware wallet and keep it in a safe place.

Quote from: Mpamaegbu on March 09, 2023, 02:56:36 PM

Quote from: ethereumhunter on March 09, 2023, 02:52:39 AM

If you want to trade, you don't need a crypto wallet to store your coins because you still need them to sell and buy. But when you want to save the profits you earn from trading, you can use one or several wallets such as Trust wallet, Blue wallet, or hardware wallets such as Ledger, Trezor or others. But many people will advise you to use hardware wallets to store your coins. Trading and investing or depositing coins are different and it is not recommended to store your coins on an exchange.

You can sell on crypto wallets using DApp. Trust Wallet also has that feature and a lot of traders and hodlers have been utilizing that feature. You can sell any crypto into a stable coin and then rebuy whenever you feel like. The only nag there is the limited tokens one can have assess to because of difference in chains. With DApp you don't have to pass through the hassles of KYC which centralized exchanges demand.

It is a good idea so that we can reduce the transaction fees for sending those assets to the exchange even though when we use the DApp, we will also get fees that may be higher than the exchange but that can reduce any worries. DApp is a solution for those who don't want to verify overly complicated exchanges and we can also store all assets there while waiting for the price to increase again.

Mpamaegbu

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Quote from: ethereumhunter on March 09, 2023, 02:52:39 AM

If you want to trade, you don't need a crypto wallet to store your coins because you still need them to sell and buy. But when you want to save the profits you earn from trading, you can use one or several wallets such as Trust wallet, Blue wallet, or hardware wallets such as Ledger, Trezor or others. But many people will advise you to use hardware wallets to store your coins. Trading and investing or depositing coins are different and it is not recommended to store your coins on an exchange.

You can sell on crypto wallets using DApp. Trust Wallet also has that feature and a lot of traders and hodlers have been utilizing that feature. You can sell any crypto into a stable coin and then rebuy whenever you feel like. The only nag there is the limited tokens one can have assess to because of difference in chains. With DApp you don't have to pass through the hassles of KYC which centralized exchanges demand.

Pandu Geddon

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Quote from: ethereumhunter on March 09, 2023, 02:52:39 AM

If you want to trade, you don't need a crypto wallet to store your coins because you still need them to sell and buy. But when you want to save the profits you earn from trading, you can use one or several wallets such as Trust wallet, Blue wallet, or hardware wallets such as Ledger, Trezor or others. But many people will advise you to use hardware wallets to store your coins. Trading and investing or depositing coins are different and it is not recommended to store your coins on an exchange.

Now there will be more traders who attract their assets to their private wallets after completing trading. And deposit it again when they are going to trade. Of course, you know the reason.
Hardware wallets such as Trezor will be further advised to be used to store assets after trading. Using a Trust wallet may also be done but still risky.
Safepal Wallet also has an alternative for hardware. So maybe it can be considered.

John Abraham

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

I will be starting to do trading on cryptocurrencies.

If you want to start trading, Choose a good platform where you can start trading. Don't get scammed in unnamed trading platforms if you are new in the crypto market. Do good research before you start trading. Make a good choice of coins.

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

what would be the best crypto wallet to use at this time?

If you want a wallet just for trading purposes, You can use Trust wallet that supports varieties of coins and chains as well. Also, be aware of fake smart contract addresses. Also, You can try Atomic Wallet as well. Always use wallets that give you private keys or seed phrases. Not your keys, Not your coins.

ethereumhunter

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If you want to trade, you don't need a crypto wallet to store your coins because you still need them to sell and buy. But when you want to save the profits you earn from trading, you can use one or several wallets such as Trust wallet, Blue wallet, or hardware wallets such as Ledger, Trezor or others. But many people will advise you to use hardware wallets to store your coins. Trading and investing or depositing coins are different and it is not recommended to store your coins on an exchange.

Charles-Tim

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

I will be starting to do trading on cryptocurrencies.

Did you mean trading or just converting fiat to coin? If it is the real trading, know that it is very risky. You have just started to know about cryptocurrencies, you have to take it slow and not rush.

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

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 can play round with this: https://bitcoin.org/en/choose-your-wallet

For bitcoin wallets you can choose Electrum which I can also recommend, but it is an online wallet, but going for its cold storage for better security, or you can buy a hardware wallet like Trezor instead.

Quote from: rozak on March 09, 2023, 01:01:33 AM

Trust Wallet, the most common nowadays is widely used and also I use it to store my trading crypto assets. use is quite simple and for beginners, I'm sure there will be no disturbance. easy access from the most profitable smartphone.

He should know that Trustwallet is close source, but it support many currencies. I will rather prefer to go for an open source wallet which would make me to prefer hardware wallets like Trezor that is open source and yet support many cryptocurrencies.

Cantsay

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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 would have asked you to go for Electrum but since you have already been given the link to a thread that contains different types of wallet then you can decide for your self but make sure whichever wallet you decide to go for, make sure it's an open source wallet don't go for a close source wallet no matter how cool it may look, remember you should not be considering the designs of the wallet UI but the security that it offers to your coins. With that's been said I wish you the best of luck in your trading journey.

dzungmobile

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Quote from: rozak on March 09, 2023, 01:01:33 AM

Trust Wallet, the most common nowadays is widely used

I am not sure Trust wallet is a most common one but even so it is a close source wallet and it is owned by a centralized exchange Binance. They acquired Trust wallet three years ago.

Use Electrum wallet is better than Trust wallet if you only need to store Bitcoin.

[Guide] How to download and verify Electrum wallet safely

hugeblack

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Quote from: rozak on March 09, 2023, 01:01:33 AM

Trust Wallet, the most common nowadays is widely used and also I use it to store my trading crypto assets. use is quite simple and for beginners, I'm sure there will be no disturbance. easy access from the most profitable smartphone.
but for long-term storage of Bitcoins, a hardware wallet would be preferable. Ledger will be suitable for you to use.

If you want the best bitcoin wallet, this guide will help you ----> https://bitcoin.org/en/choose-your-wallet
But if you are looking for altcoins then buying a hardware wallet is the best option.

It is better to avoid using this wallet for large amounts, as it is closed source and linked in one way or another with Binance, and therefore there is a possibility that something will happen to it if Binance stops working.

rozak

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Trust Wallet, the most common nowadays is widely used and also I use it to store my trading crypto assets. use is quite simple and for beginners, I'm sure there will be no disturbance. easy access from the most profitable smartphone.
but for long-term storage of Bitcoins, a hardware wallet would be preferable. Ledger will be suitable for you to use.

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