The most secure wallet without downloading blockchain - page 2.

Stedsm

legendary

Activity: 3052

Merit: 1273

https://jochen-hoenicke.de/queue/#0,24h

Visit this site.
Scroll down to the chart that says "Mempool Size in MB"
Hover over it and you'll see something like this:

If you want your transaction confirmed in next block, I believe you'll need to pay between the fee range where block sizes are less than 1 MB'ish. Credits to DarkStar_ and TheQuin for making me understand more about this.

If I were you, I'd definitely choose SegWit over Legacy if you're not so loving towards short addresses and can use addresses starting with 'bc1' without any problems, though there are SegWit addresses that start with a '3' as well. The only difference I believe will be the fee that you pay more in Legacy and a bit/lot less (depends on the size of transaction) in SegWit.

Loque

jr. member

Activity: 36

Merit: 3

Is a bug or what that if I click copy address nothing happens and I can't paste it somewhere...
Edit: restarting Electrum now works.

jnano

member

Activity: 301

Merit: 74

Quote from: Loque on August 14, 2019, 09:43:18 AM

Googling, I'm just reading that legacy fees can go up to 140 usd circa!

No, $140 doesn't make sense. The fees depend on how busy the network is at a given time, and how quickly you want the transaction to get confirmed.

At the peak of the last price rise (late 2017-early 2018) the network was very busy. If you were impatient then you could end up paying high fees.

Right NOW, you can have a transaction confirm quickly for 0.05$ (or less). During the busiest times the past week you may have had to pay $0.50, and it could still take a few hours to confirm. If you wanted to get a quick confirmation, $2.50 would probably do it.

Quote from: bob123 on August 14, 2019, 05:06:13 AM

You don't gain any advantages using legacy type addresses, only disadvantages.

There's still no standard way to sign messages with a Segwit addresses. Electrum might do it, but not Bitcoin Core.

Rath_

legendary

Activity: 1876

Merit: 3132

Quote from: Loque on August 14, 2019, 09:43:18 AM

Googling, I'm just reading that legacy fees can go up to 140 usd circa!

Transaction fees depend on the transaction size, the number of transactions in the mempool (awaiting confirmation) and the type of address you are using. Right now, less than $1 is enough to get a small transaction (1 input, 1 output) confirmed in the next block. It's still a lot because usually a few cents is enough, but it looks like the fees have spiked due to decreasing price. You can check the recommended fee here. 1 sat/byte is the lowest possible fee and it was enough for the past few months.

Quote from: Loque on August 14, 2019, 09:43:18 AM

I'd start using the nested segwit. Is this tutorial valid on how to create one? https://bitcoinelectrum.com/creating-a-p2sh-segwit-wallet-with-electrum/

There is no need to create two wallets if you are going to use nested SegWit addresses. This tutorial is valid.

Loque

jr. member

Activity: 36

Merit: 3

Googling, I'm just reading that legacy fees can go up to 140 usd circa!
Maybe I'll create two wallets but I'd start with one and see how it works.
Basically customers can't see the difference except for compatibility, but for me the difference are the fees when I'll have to make payments. If I understood well.

I'd start using the nested segwit. The nested segwit has the same fees of standard segwit? Is this tutorial valid on how to create one? https://bitcoinelectrum.com/creating-a-p2sh-segwit-wallet-with-electrum/

Generally if you have other suggestions I apreciate.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: Rath_ on August 14, 2019, 07:01:23 AM

Quote from: bitmover on August 14, 2019, 06:44:19 AM

Some people in this forum hate coinomi because it is not open source, and because its mobile version had a bug that could share seed with Google docs (something like that)

Quote from: bitmover on August 14, 2019, 06:44:19 AM

However, it is a convenient wallet, in the mobile version. There is no multicurrency wallet which is open source. Also, the Google bug with the seed never affected the mobile version.

These sentences are contradictory. Unless OP mentions that he needs a multicurrency wallet, we should recommend the best option for Bitcoin only since we are in the Bitcoin Technical Support board.

Sorry, just correct my mistake. The bug affected the Desktop version, not the mobile one.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: Lucius on August 14, 2019, 08:53:20 AM

Quote from: Loque on August 14, 2019, 07:42:39 AM

I'm still undecided if choose Segwit or Legacy.

@Lucius thanks.

You can have both, just make two wallets in same Electrum and name it Legacy wallet and SegWit wallet. In this way you can use SegWit and benefit from lower fees, and in case some service is not support bc1 (native SegWit) it is easy to use address from Legacy wallet.

The process of creating a new wallet in Electrum is simple, just click File -> New/Restore and make new standard wallet with the only difference in type of address.

You're welcome Wink

Samurai: Settings -> Transactions -> Check one box on/off depending on which type you want to generate next (legacy vs. bc1). Easy with both of them, but easier with Samurai as it is the same wallet.

Lucius

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Quote from: Loque on August 14, 2019, 07:42:39 AM

I'm still undecided if choose Segwit or Legacy.

@Lucius thanks.

You can have both, just make two wallets in same Electrum and name it Legacy wallet and SegWit wallet. In this way you can use SegWit and benefit from lower fees, and in case some service is not support bc1 (native SegWit) it is easy to use address from Legacy wallet.

The process of creating a new wallet in Electrum is simple, just click File -> New/Restore and make new standard wallet with the only difference in type of address.

You're welcome Wink

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: bitmover on August 14, 2019, 06:44:19 AM

Some people in this forum hate coinomi because it is not open source, and because its mobile version had a bug that could share seed with Google docs (something like that)

However, it is a convenient wallet, in the mobile version. There is no multicurrency wallet which is open source. Also, the Google bug with the seed never affected the mobile version.

So, imo, you can use the mobile version to hold small amounts of money, especially if you need a multicurrency wallet.

For large amounts, ledger nano and trezor are the best choices, no doubt

Did anyone ask for a multicurrency wallet here? No. Therefore, that post was pointless. Coinomi is unsafe and should not be used, convenient or not. People need to start being held liable for their recommendations.

Rath_

legendary

Activity: 1876

Merit: 3132

Quote from: Loque on August 14, 2019, 07:50:00 AM

Most important thing I need is an address that can allow my customers to send me money.
Instead of withdraw with exchangers every time it can happen I'll use some btc too.

Choose Legacy then. Your customers might want to send you coins from exchanges or wallets which don't support native SegWit addresses. Alternatively, you could try getting nested SegWit addresses to work (they start from 3) which are compatible with all services and still allow you to save some money on fees. However, this will require and extra step during setup.

Loque

jr. member

Activity: 36

Merit: 3

Most important thing I need is an address that can allow my customers to send me money.
Instead of withdraw with exchangers every time it can happen I'll use some btc too.

Rath_

legendary

Activity: 1876

Merit: 3132

Quote from: Loque on August 14, 2019, 07:42:39 AM

I'm still undecided if choose Segwit or Legacy.

It depends on what you are going to do with your wallet. If you intend to hold your coins for a longer period of time then go with SegWit. Transactions made from native SegWit addresses let you save some money. However, there are still many services which don't recognize such addresses and can't send coins to them. You will be able to spend from them to any address, though. Once you select SegWit in Electrum, all of your addresses will start from bc1 instead of 1. Take a look at this discussion.

Loque

jr. member

Activity: 36

Merit: 3

I'm still undecided if choose Segwit or Legacy.

@Lucius thanks.

Lucius

legendary

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Loque, now when you install Electrum and verify signature before that it is sure to say that you have offical wallet and you can start to use it. I hope you write down your seed (12 words), this is most important thing to do, in case you need to restore your wallet. It is also important to protect your wallet with strong password, to prevent any unauthorized use.

My advice is also that you pay extra attention to safety of your PC, install good antivirus / antimalware software, and always click Preview button before sending transaction to review all transaction details, especially the address to which you send coins (clipboard malware).

Rath_

legendary

Activity: 1876

Merit: 3132

Quote from: bitmover on August 14, 2019, 06:44:19 AM

Some people in this forum hate coinomi because it is not open source, and because its mobile version had a bug that could share seed with Google docs (something like that)

Quote from: bitmover on August 14, 2019, 06:44:19 AM

However, it is a convenient wallet, in the mobile version. There is no multicurrency wallet which is open source. Also, the Google bug with the seed never affected the mobile version.

These sentences are contradictory. Unless OP mentions that he needs a multicurrency wallet, we should recommend the best option for Bitcoin only since we are in the Bitcoin Technical Support board.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Some people in this forum hate coinomi because it is not open source, and because its ~~mobile~~ desktop version had a bug that could share seed with Google docs (something like that)

However, it is a convenient wallet, in the mobile version. There is no multicurrency wallet which is open source. Also, the Google bug with the seed never affected the mobile version.

So, imo, you can use the mobile version to hold small amounts of money, especially if you need a multicurrency wallet.

For large amounts, ledger nano and trezor are the best choices, no doubt

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: BitMaxz on August 13, 2019, 07:21:00 PM

Mobile wallet
- ~~Mycelium~~
- ~~Electrum~~
- ~~Coinomi~~
- ~~Bread wallet~~
- Samurai

FTFY. It is better not to recommend anything than to recommend insecure garbage (especially Coinomi).

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: nc50lc on August 13, 2019, 11:00:43 PM

Then, when prompted to select address type, I recommend you to select "Standard" (starts with "1") for the best compatibility.

You don't gain any advantages using legacy type addresses, only disadvantages.

For maximum compatibility and lower fees one should choose nested segwit (P2WPKH nested in P2SH).
Each service recognizes these addresses, and besides lower fees transaction malleability is fixed. While this might not be a big issue for an average user, there is not a single good reason to choose legacy over nested segwit.

nc50lc

legendary

Activity: 2534

Merit: 6080

Self-proclaimed Genius

Quote from: Loque on August 13, 2019, 08:09:36 PM

Which wallet I should chose?

The first one: Standard wallet.
Then, when prompted to select address type, I recommend you to select "Standard" (starts with "1") for the best compatibility.

You can also make a Nested SegWit (starts with "3") wallet using an externally generated BIP39 SEED if you prefer SegWit that is compatible with "shitty" services that still doesn't support Native SegWit (starts with "bc1") addresses.

jnano

member

Activity: 301

Merit: 74

If your only limitation is blockchain storage, but no problem with downloading, you can also consider Bitcoin Core in "prune" mode.
You can choose how much storage to use. It's available in the GUI settings, or the configuration file.

Topic: The most secure wallet without downloading blockchain - page 2. (Read 668 times)