Topic: Wallet advice? (Read 768 times)

Desktop or hardware wallet if you value your privacy.

I've been using trust wallet for keeping my coins... It's a multiwallet where you can stored all altcoins... Just keep in a private place all the passphrases of your wallets and put a strong passwords that only you knows... You can also use hardware wallets in keeping your assets....

Atomic wallet is an open designed to store the data just to your device, well talking about open source wallet, it is pretty safe when you have set it up correctly honestly something could go wrong if you mistakenly forget something when setting it up. Coinbase has earned so much reputation from being an exchange, running for long years seems to be great so the coinbase wallet is a thing for their top exchange, there is no doubt it is built just like the exchange, pretty fast and secure.

Very happy with the Nano X and S but you are only able to work with a single address at a time.  In order to get a new address to receive, the previous one must be used first.

Apart from that, very pleased with them.

The X interfaces with an iOS/Android app via Bluetooth where the S does not.  It must be physically connected.

Again, you are your own banker when it comes to your crypto assets.  You wouldn't walk around with your life savings in the wallet in your pocket.  Think of it like that.  keep a small amount in the online wallet for day-to-day stuff but the bulk of your holdings in a secure, hardware wallet or a PC/Mac wallet that is not connected to the internet.  Set up your transfers, connect online and let the transactions proceed and then go offline when they are sent.

how about TrustWallet? I am currently using it and it is very secure. There does not seem to be a hack and theft of users' money. so you can be assured and deposit there. In addition, if you want to be more secure, use a cold wallet. Ledger Nano S is one of the best security wallets and it is completely offline when you disconnect it from your PC. Therefore, hackers cannot participate in this type of wallet.

You shouldn't risk your money in online wallets because we all know that online is really complex and there are good hackers who can access your account without you knowing. You should choose a bitcoin wallet platform that is famous enough and the company is really trustworthy and effective in keeping your assets safe. Online wallets are really useful for a small transactions or payment to lessen the hassle of transferring money but all in all it is not that guaranteed for huge amount of coins. Hardware wallet is really much safer because you have only the access to that and no one can access that unless you give them some of your information, a simple information can be used by scammers to enter your wallet.

If you're looking for a secure online wallet check out https://sendbit.io or trezor.io


Sendbit.io allows you to have access to your private keys... That's pretty cool and they have an awesome API
Trezor.io you'll need to order their hardware device your private keys are inside that.


Good luck.

You should go for Atomic wallet, they have staking and swap, you can hold bitcoins, altcoins, and even tokens. Read a Lil about it, start using it and I'm sure you will love it just as i do.

Here is the download link: https://atomicwallet.io/

Set up an Exodus wallet for any mining rewards and sweep them regularly to a hardware wallet, such as a Trezor or Ledger.

And buy the hardware wallet directly from the manufacturer.  There are scams online where you THINK you are buying a new (sealed) device but it has been tampered with or seed words are pre-loaded and recorded by the scammer.  depositing BTC into one of them is the same as sending it directly to them.

Education is the name of the game.

Good job asking the questions up front.

There is no specification that Hardware wallets is only safe for Huge funds
because remember that each of us are
vulnerable from hacking and scamming so either you have Big amount or even small we must Have hardware wallets to keep
our funds safest in this kind of attacks here and there towards us crypto Holders,But we can just segregate our funds into many
 different wallets even if its hardware or online wallets because this will save our other funds in cases that we don't expect.

I have been making use of the Blockchain wallet for over four years now. What exactly were the complaints you were seeing on TrustPilot about Blockchain? The only problem I once had with it was that I created an account and didn't copy down my wallet ID. But I later discovered that on their website you can check the wallet ID that is attached to your email address. That's how I was able to gain access back to the wallets.

If that's the case, then you have got no problem. Coinbase is also good and I have not had any issue with them. I don't know about the ZenGo you mentioned ,I have not used the wallet before. Unless you want to be using hardware wallets like Trezor or Ledger Nano X.

Any wallet that allows you to access your Private key, which is not always connected to the internet is a good wallet. For example hardware wallet and desktop wallet. I personally prefer using desktop multi cryptocurrency wallet. There are many in the market. You need to google it and you will find it.

Yeah, having an hardware wallet is the safest for people with huge funds to carry and could be supported with a mobile wallet Electrum for some quick little transaction.

A lot of people here always says that using a hard wallet is the safest wallet that you could use because it will be difficult for hackers to have an access in hardware wallets.

Exodus and BitPay both work good, and Exodus allows you to keep using a single address until you decide to change the settings. Electrum is one another wallet that gives you everything (one of my fav) but you need to be careful while using it as there are many phishing issues coming from the Electrum community as in some cases, they complain about having their BTC stolen due to a phishing server being used in the wallet.

Imtoken do supports BTC and ETH.

--> https://support.token.im/hc/en-us/articles/115001657313-Which-tokens-are-supported-by-imToken-

Do Wallet is like a free wallet that is installed on your smartphone, but you should know that your smartphone is also very vulnerable to hacking if you are not alert, a lot of malware is lurking, use protection such as smartphone antivirus to protect your wallet.

To use Hardwar do have to buy at the official store and make sure the new hardware. If buying in an unofficial store ranges get a hardware wallet that has been modified and is very dangerous if used, the asset will be stolen by someone else who modifies the wallet hardware.

There are different types of wallets out there. People mostly use desktop, mobile, online and hardware wallets.

Online wallets on reliable services are fine for relatively small amounts if you use 2FA security layer properly. But you should remember to
check url when visiting online wallets - many fishing sites out there.

Desktop and mobile wallets are also ok if you know associated threats and security measures.

If you are going to keep significant bitcoin long-term, then hardware wallet is a must. There are many manufacturers, including Trezor, Ledger, Keepkey, Bitbox etc. Trezor is the oldest company. Ledger and Trezor are most popular.

I don't know other types of wallets apart from hardware wallets that can gives me confidence that I actually OWN my bitcoins. I've lost some assets on 2 exchanges due to hacker attacks. One of them was Cryptopia. I didn't have any problems with desktop wallets, but I know something about security.

Here is a simple guide: https://bitcoins.menu/#bitcoin-wallets-easily-explained

there are much types of wallet depending one specific blockchain you want to run.
1. btc wallet
2. Ethereum wallet
3. EOS Wallet
4. Stellar wallet
etc

for bitcoin wallet I recommend you to use desktop wallet, while for Ethereum only you go for trusted app or possibly you can activate metamask on your web extension.
the EOS wallet that can be downloaded through the websites and the rest would be done.
Stellar you can also be downloaded an installed in your system but you have to make sure all your details are secured and protect your system from being damaged. more can be discussed some post that has been made by some individuals.

I have been using Coinbase and Blockchain for about 7 years, but I have not done anything against them that I would call bad. I think wallets are not responsible for those who have hacking problems that are due to their own mistakes, if we do not click on the wrong gender then our wallets will not be able to hack hackers to hack even though we often allow different apps. Gives us information to view, so we make all these mistakes and blame the wallets for what is not desirable, first see what mistakes are in yourself, according to my advice Coinbase would be good for you because here you can pay your employees via email.

No, wallet exchanges are the most vulnerable because hackers often target them. Even trusted global exchanges have been hacked, so users lose assets, fortunately the exchange is willing to take responsibility and provide compensation. In another case, there was a CEO of one of the shit exchanges who took away the assets of their users, and ran off somewhere. So be wise in using wallet exchange.
The safest wallet is the offline wallet, just select the hardware wallet.

Bitcoin has taken the world by storm, offering a currency alternative to the government-backed currencies we all know from daily use. Proponents argue that the digital currencies are easier, safer, and offer better privacy than traditional currencies. Because the value of a Bitcoin compared to the U.S. dollar and other currencies has skyrocketed over the years, it has shown up on some people’s radar as an investment opportunity as well.

Before you put a dollar into Bitcoin or any other cryptocurrency, it is important to understand the risks. Bitcoin could easily double in value over the next few years, but it could just as easily drop to near zero in value. Only put in what you can afford to lose because there is a chance you won’t get it back. If you understand the risks and you’re ready to move forward, any of these best Bitcoin wallets should have you covered.

For keeping your Bitcoin there are several wallets that you can use to store your Bitcoin. 1. Coinbase the most recommended wallet 2. For the best security 'TREZOR' 3. 'Electrum' for desktop computer wallet 4. 'BLOCKCHAIN' Best online wallet 5. 'MYCELIUM' for mobile wallet 6. Best for Intuitive Desktop Use 'EXOSUS' and last Best for Free Buying and Selling: Robinhood.

Those are wallets that you can use to keep your Bitcoin safe but it depends on the availability or where you prefer to use.

But wait, while it is not wrong to use exodus wallet on desktop
Why not own a mobile application as well?

I mean, if you are in profit and you need to trade rather urgently and you are away from home, hoe would you trade?
You can consider the use of a mobile bitcoin wallet or trezor or ledger

Yeah, don't use exchanges as your wallet they are very prone to be stolen not by the exchange itself but by the hackers. Just go with the top trusted wallets in the appstore, I use DoWallet not only bitcoins that I can store here but also litecoin, ethereum and BCash. It works pretty well for me, you can search for more free wallets out there but make sure it is trusted by many. Or you can go with using hardware wallets, but make sure to buy it to the direct supplier so you can avoid receiving a tampered one.

Selection of the right and safe wallet you have to do. I would rather you save Bitcoin with a wallet that you can control yourself.
For example you can use a BitcoinCore Wallet or a safer Electrum instead of having to store your Bitcoin Asset in an exchange such as Coinbase which will likely be able to be hacked at any time.
Or for safer use of Hardware Wallet such as Trezor, Ledger nano S, KeepKey and others, which will give full access to the assets you have.

please for a long time holding, Do not store your wallet on exchange wallets. In fact, it is not advisable at all. If the exchange platform get hacked or the platform runs away, believe me, that is the end of your money. Even some desktop wallets like exodus will suggest you only put small amount of coin for temporary reasons. You need to read about cryptopia and what happens to the traders that have funds in their wallet

Do not trust many of those review of trustpilots. They are mostly dropped by newbie that probably get involve in ponzi scheme or mistakenly transfer money to a wrong address and hold the wallet responsible. Depending on how much you are planning to put there, Hardware wallets such as Trezor are the safest wallet. You can purchase one and store your coin their

I don't recommend using exchange wallet simply because of some unnecessary maintenance, the exchange to wallet is fast but there are some bugs as I've experienced it. The most recommended asset for most secured storage is the hardware ones like Trezor, Ledger etc. but that would costs you a couple of bucks. There are wallets downloadable at playstore and appstore maybe you can try some, read the reviews first before deciding what to use 

Um using an etherwallet but its been hacked so im thinking that i need to choose a more secure and safe one so i decided to switct to coinbase and matamask wallet.

You may use any wallet for which you have control on the private keys. This will include the desktop wallets and the mobile wallets. Avoid the online wallets like coinbase etc, because they do not give you the private keys. Also some people store their coins on the exchanges , which is also dangerous as exchanges could be hacked or scam.

I don't have much knowledge about mining and how huge would be the transactions every transfer is, but one thing is for sure hardware wallet is more secure than using the custodial wallets and other online wallets. Though if there is a need for you to use one of the online wallets, then I think you'll be still fine, base on your statement, I assume you're doing a lot research before taking the first step, so you'll most probably end up using the most trusted one like the Electrum wallet.
Good luck to your business in mining.

Yes. My business is based in a remote location and we generate our own electricity. Without going into too much detail, changes in technology and business plan over the years means we currently have around 50kw redundant power capacity, which is enough to power a small collection of decent miners. I am confident we can power a 1PH/s farm and cooling.

Also planning to buy new equipment which allows for tax write-offs as well.

There are a lot of good non-custodial wallets on the market. Always use wallets that not require registartion and personal data. Coinomi, exodus, ownr wallets, for example

Not sure what business you are going to start. You you are going to start online business and you wanna accept bitcoin as a payment method then I will prefer for BTCPAY server this is non custodial open source bitcoin payment getaway. You may use this wallet on multi purpose even accept bitcoin from mining. Even you may accept altcoin via this wallet and you may accept bitcoin through lightning network if you use your own server.

However for accept mining reward better if you could buy hardware wallet. It's safe ever than any other wallet. But if you can't afford this then I will prefer for Electrum wallet since it's open source and easy interface. For long time holder I will never prefer any wallet except hardware wallet since I am using Ledger for it. For short deal using Electrum wallet. So I will prefer as same.

Do not use custodial web wallet/exchange like coinbase to hold your fund longer.

If you're planning to mine BTC, then we can assume that you have significant resources to invest in it. Mining devices themselves, electricity, soundproofing, cooling cost a small fortune compared to one hardware wallet that can give you optimal security.

However, keep in mind that receiving a very large number of transactions on your hardware wallet is not recommended, at least as far as Ledger is concerned. You can read more about this issue at the following link : Receive mining proceeds.

For someone setting up a mining farm, which would be a lot a of investment and incoming transactions, using coinbase isn't safe because it's an online wallet here and they have a lot of con which includes not having access to private keys and lose of funds if there's an attack on their wallet provider's server.

I would advise getting an Hardware Wallet like Ledger and have it connected to Electrum or Mycellium Wallet.

@OP if you are trying to look for the wallet that is suitable for your needs it is better to go to the application or wallet platform that is already trusted and gained a lot of reputation into the world of cryptocutrency. In my opinion, most of the time I prefer for the use of the coinbase, from the previous months I used this kind of wallet it helps me a lot of times in trading and investment because this is one of the most secured platforms for me. Coinbase has an application that always notifies their users about the updated market price, an increase of their price and the percentage also coinbase has a good market cap than the others so I prefer to use this but they do not have the candlesticks on their graphs and for me, it is quite hard to know the open and close of the markets.

Well I hope you have chalked out a plan for how many miners you are going to install and how to maintain them and cooling costs. In general mining is a pretty difficult ROI game in this market. You dont want to end up with a bunch of heavy machinery and nowhere to make money without having a huge negative balance. I hope you know what you are doing, but if you need advice, you can talk about it in this forum's "Mining" section.

Go for a hardware wallet and not a web wallet. Web wallets dont give you full control over private keys. Even if they secure it well, it is questionable and you cannot completely trust them. We have had hacks of many exchanges several times and people have lost money due to them.

The idea behind the crypto scene is that one needs to be in control of their private keys to be in control of their coins. You should never reveal your private keys to wallet to anyone, whoever has it has control of spending the coins.

Also the internet search engines are made in such a way that if you look for bad points regarding a hardware wallet, you will only get the bad reviews and not a single website is going to give you a objective opinion about them. However they are most secure that you can unless you are tech savvy enough to keep an wallet in a ArchLinux distro airgapped from the internet.

Hardware wallet is the best! Just buy a ledger or trezor and I am sure that your going to be safe. All online wallets have a horror story and all of them are not  100% safe, only offline wallets and hardware wallets are safe and you can guarantee that your money is in your own hands. Coinbase is a good one but still it is a online wallet and your money is not in your own hands. Invest some money on hardware wallet if you want maximum security.

By now you might be aware that there are two kinds of wallet hot and cold. Hot wallet wallets are the ones that are always connected to the internet for example a mobile wallet and cold are the ones that are not always connected to the internet for example hardware wallet or a desktop wallet (if you donot connect your computer a lot to the internet).

Hardware wallet have to be purchase and software wallets are free to download. Software wallets support all major Operating system both mobile and desktop.

A wallet is considered to be best if it is open source, allows Private key access and backups. You can visit this cryptocurrency blog and check out the recommended list of crypto wallets for different cryptocurrencies.

You want to mine Bitcoins in the UK?After the BTC halving?!?How expensive are the electricity costs in the UK?
Anyway,Blockchain and Coinbase are secure enough,as long as you don't use your Bitcoin for activities such as gambling or using BTC mixers.I've used Blockchain.com wallet in the past 2 years and I never had any issues.I used Coinbase 5 years ago and I had some problems logging in,but that was my fault,because I deleted the email associated with the account back then.The Coinbase customer support was really helpful and I got access to my account.
If you are about to stake lots of BTC,having a hardware wallet is the best option and I think that Trezor is the best.

mining reward is also like any other transaction when you want to receive it. and for that all you have to do is to share your address, there is no need to be online to receive bitcoin. it is because you aren't actually receiving any "coins". what happens is that the record of the money transfer is stored in the public blockchain that is stored by all full nodes.
the only difference between a mining reward (coinbase transaction) with any regular transaction is that you can't spend a coinbase tx right away, it needs to "mature" which means it has to be at least 100 blocks deep (have 100+ confirmations).

You better use a hardware wallet if you want to keep your several coins instead of Exodus. I have used it and I have no issues but for keeping purposes, I'll choose a better wallet than Exodus.

Most of the advices are a hardware wallet, and indeed it is also my suggestion.
So, what kind of hardware wallet is advisable or recommended?
I am suggesting you to use Trezor Wallet (https://trezor.io/), visit their website for more information about this wallet, and always remember, avoid buying on some sellers, much better if you will purchase on trezor website.

To receive BTC, you do not require to go online. With Hardware wallet, you can receive payouts, also you can send without going online. Since you said you are planning long term, hardware wallet is the only wallet you should choose.

He is not talking about holding any shitcoin here. He is talking aboht bitcoin only.

Electrum wallet is only for Bitcoin. Exodus may not be perfect but its great in many ways. It also holds lots of altcoins. Theres also a trade feature built in (fees obv). Exodus is great if you just want to HODL several coins and check up on them on your computer, it has graphs etc.

Some interesting feedback, thank you. My top priority is safety & security as I intend to keep the majority of the bitcoin for long-term investment.

With regards mining pay-outs, can these be made to a hardware wallet or do they need to go to an online wallet first?

Again, if you really wanted to be safe, you should store your bitcoin to a wallet that will give you control control of the private keys like Bitcoin Core and Electrum. Free and easy to use doesn't equate security. And to give you an another advice, look for a wallet that is open source, so that you can see what is going on inside. Exodus is not open source:


https://support.exodus.io/article/89-is-exodus-open-source

To the OP, I would recommend using Bitcoin Core or Electrum (https://electrum.org/#home) or go get a hardware wallet.

Online/web wallets are risky as you don't have access to the private keys. Not your keys, not your coins.
If the wallet owner/company runs away, then you will lose every single satoshi. However, people use it for small amounts of deposits, transactions...

Better use hardware wallet if you can, otherwise desktop wallet.

You can transfer whatever amount from hardware wallet to online wallet or vice versa. You can send from any wallet to any wallet within the bitcoin network.

I was keeping my funds on Coinbase, but have switched to Exodus desktop wallet. Its free and is very user friendly and easy. Save your info on a piece of paper somewhere safe.

I'm not mining...yet. And when I say I'm in the process of setting up a small farm, I mean I'm in the very early stages (research) hence I'm here to learn and ask questions. I prefer to interact with actual people, ask questions and discuss on a forum as opposed to trusting website articles which are often biased or have ulterior motives.

Based on your reply, would I be correct in thinking I should have an online wallet (for regular pay-outs) but transfer regularly from the online wallet to a hardware wallet (to store larger amounts and or longer term storage) as this is safer than the online wallet?

I agree, you shouldn't be mining if you aren't aware of how wallets work and which ones are good. You need to master the basics first.  When it comes to wallets you'll likely need a couple different types.  An exchange to purchase/sell coins and a hardware wallet such as ledger or trezor is where you'd want to start.  The safest wallet of all is going to be a cold storage paper wallet.  These are not simple to make though, and you really need to know what you're doing.  My recommendation would be to pick up a copy of Mastering Bitcoin. Andreas Antonopolous does a great job of explaining this kind of stuff ( there is also a ton of really technical stuff in that book that is far too advanced for most, however).

You setting up mining operation while having no clue about what wallet actually is? :O im shocked
There are 3 kinds of wallets, desktop wallet, online wallet and mobile wallet.
To keep any serious Bitcoin i suggest desktop wallet, but you need to keep your desktop secure.
Online wallet can go puff during night and you don't have access to your funds anymore.
Mobile wallets are risky due to spyware in apps, good for pocket change.

I hope i helped a little, good luck doing mining operation you will need it!!

I am new to Bitcoin and in the process of setting up a small farm in the basement of my business premises here in the UK. Obviously I need to open a wallet however there doesn't seem to be much discussion or advice available on wallet providers. I've read a few reviews doing a Google search but these often seem biased. I've read some glowing reviews about Blockchain, Coinbase and ZenGo on some sites, however when you read the Trustpilot reviews (a popular review website here in the UK) the ratings are very bad for these wallet suppliers with lots of horror stories.

Can anyone make some recommendations for safe and reliable wallet providers?