Starting out, wallet advise. | Bitcointalksearch.org

wintermeasures

sr. member

Activity: 322

Merit: 250

Quote from: user7 on July 08, 2016, 02:30:18 PM

Decided to start somewhere with Bitcoin, and have been reading as much as I can. But unfortunately I don't have that much free time as of right now. So I thought posting a thread would be a better idea.

I've decided I want to invest a small amount of my earnings into Bitcoin, to start out with.
But to start that I need a wallet.

And I'm not sure on the best method. I won't be spending anything as of now, so I thought a offline wallet on my personal PC might be best? Or even on a USB or something if possible?

There are quite a few clients to choose from, and was hoping for some opinions on what would be the best to use? Best in my case would probably be simple and secure.

Any help and advice would be much appreciated. Thank You.

I personally use the online wallet of blockchain.info, then I suggest to use the services of blockchain wallet. Due to its proven safety and many bitcoin users who are already using the services of this great company. Or you can also choose another wallet here https://bitcoin.org/en/choose-your-wallet Thank you

Cybertron00

full member

Activity: 126

Merit: 100

Well IMO web wallets are good to. Try blockchain wallet they are very great and have no errors though. Another good wallet if you are living in Philippines or have some relatives here is coins.ph. This site is also trusted and you can easily convert BTC to fiat using this without using exchange and reload your smartphone's airtime.

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: user7 on July 08, 2016, 02:30:18 PM

There are quite a few clients to choose from, and was hoping for some opinions on what would be the best to use? Best in my case would probably be simple and secure.

Choose couple clients at once to suit your needs. One android/smartphone wallet to keep small amounts available if needed

.
Then get desktop wallet like bitcoin core or multibit to keep higher amounts if needed.

Thats it

simple as that.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

That's good advice from knightdk. I would add that you should consider convenience and risk in your calculation. Full nodes offer the best security and one can use them with systems like paper wallets to secure millions of dollars. They do, however, require some understanding and frequent syncing. If you only want to try out $100 worth of bitcoin then you might choose a phone wallet like ( https://play.google.com/store/apps/details?id=de.schildbach.wallet ). A little less secure, but easy to use when paying. I keep some in this wallet, less than the cost of the phone. Then I keep the main wallet offline in a bank vault.

The absolute most important thing you can do is BACK UP YOUR WALLET!!!!!!
As long as you have a backup even If you lose your phone everything is fine. If you don't have a backup then your bitcoin is hopelessly lost. So make a copy, put it on a USB or a paper wallet, put it in a bank safe deposit box before funding the wallet.

achow101

staff

Activity: 3374

Merit: 6530

Just writing some code

The most secure wallet you can have is an offline wallet (e.g. paper wallet or airgapped PC), followed by a desktop wallet, and then the least secure being a web wallet. For small amounts, I recommend that you use a desktop wallet.

There are two kinds of desktop wallets, SPV wallets and full nodes. A full node wallet is one that downloads the entire blockchain and fully verifies every transaction and block it receives. The best full node wallets are Bitcoin Core or Bitcoin Armory (which also depends on Bitcoin Core). SPV wallets do not download the entire blockchain and relies on a full node to provide it with the correct data. It has to request information about its transactions from a full node. However, these wallets are also much faster to sync and load than full nodes. The best SPV wallets are Electrum or MultiBit HD.

You should use an SPV wallet if you do not want to wait for a full sync with the blockchain or don't want to download the blockchain. You should use a full node wallet if you want the best security.

user7

newbie

Activity: 2

Merit: 0

Decided to start somewhere with Bitcoin, and have been reading as much as I can. But unfortunately I don't have that much free time as of right now. So I thought posting a thread would be a better idea.

I've decided I want to invest a small amount of my earnings into Bitcoin, to start out with.
But to start that I need a wallet.

And I'm not sure on the best method. I won't be spending anything as of now, so I thought a offline wallet on my personal PC might be best? Or even on a USB or something if possible?

There are quite a few clients to choose from, and was hoping for some opinions on what would be the best to use? Best in my case would probably be simple and secure.

Any help and advice would be much appreciated. Thank You.

Topic: Starting out, wallet advise. (Read 432 times)