Topic: Wallet security, a good choice of wallet is very important (Read 332 times)

For more information, that not all of addresses are fully compatible to every platforms. Thay's why you should choose compatible address when you want to send or move your bitcoin's balance. most people prefer to use segwit address format which started with "bc1....." address because it has lower transaction fees.

Thank you Lucius.
Many valuable new findings that I want since I was present in the forum. It wouldn't be wrong if I tried to find out about wallets and their security.
In the next few days I will be doing a sign message using Electrum which I learned a lot from the local board to prove that the bitcoin address is mine.

Technically, in using software and hardware wallets, what I need is a way to secure it properly so that I don't let my guard down in the midst of my limitations as a human being.

Bitcoin has many address types and transaction types.

Legacy, Native Segwit, Nested Segwit, Taproot are different address types. Transactions with those addresses will be all excecuted on Bitcoin network.

There is nothing like Segwit network, Legacy network or Taproot network. Your post spreads misleading and confusing information.

Invoice address
Taproot is a newest Segwit type, Bech32m type starting with bc1p.

No need to argue. You just don't understand what was conveyed by Helena Yu, who explained several types of addresses with different formats and each centralized exchange also provides different types of addresses with different formats. That's more or less what I understand from Helena Yu explanation.

Maybe the help of each of our translation tools is different in detecting the letters we type if it's true that we use the help of Google Translate.

Yesterday I got a BTC asset theft case from a topic. The addresses that we use can be stolen by hackers. That's why security is very important because we are connected to the internet.
As soon as we are negligent, the criminal is not negligent in carrying out his actions.

This is why you need to read the full sentences rather than only focus about few words, it seems you're likely want to argue rather than accept the reality.

I was not saying if the exchange is really free to credited our coins to our balance or not without any reason. But I already said it was depends on the exchange if they already accept segwit or not.

AFAIK Kucoin still not allow you to withdraw Bitcoin using segwit network, I think you can try to withdraw your Bitcoin using Bitcoin network, but you use segwit address as the receipt address. Don't angry if your coins never credited to your wallet

it's not about the adoption of Segwit that I ask it's about whether the exchange will add to our balance or not.
which I understand from your previous post and I believe we will always check our BTC address whenever we will withdraw our coins

The security of the wallet is very important to pay attention to properly.
Never store assets on exchanges even though there are some exchanges that will guarantee returns when you lose due to hacking.
Choose an open source wallet. Do not choose a wallet based on ease of use but they do not maintain privacy or can sell our data.

Software or Hardware Wallet, visit bitcoin.org and find a good wallet there.
I wish you success in the forum.
Welcome, Aprilio.

What I meant the centralized exchange or wallet doesn't adopt segwit, native segwit and taproot. Let's say you've Bitcoin in your centralized exchange and you want to send into your non custodial wallet, you're prefer to receive it using native segwit because it's cheaper than legacy, even you've typed/pasted correct native segwit address, the exchange will give you warning message if the address you inputted are wrong or they will proceed it, but your coins will not arrive into your wallet, which mean your coins are gone.

You can check it in this site https://en.bitcoin.it/wiki/Bech32_adoption

OP, your question is not specific enough, but you are talking about wallets and security. There are some Bitcoin wallets with good security, so you can take a look.
[Tutorial] BlueWallet - Bitcoin Wallet Discussion

Also, while the hard-wear wallet is always on a separate device like a flash drive, the software wallet is usually an app for mobile or software for Windows. The Electrum wallet is good for Windows, while the Blue wallet is also good for mobile (you can see the above thread). For a hard-wearing wallet, you can go with the Ledger Nano and Trezor hardware wallets.

Thanks for you.
For almost a week I explored various boards and found lots of information that made me want to say that what you said about the people here is true.

From my journey this week on the forum, I saw your case in one of the topics. I think you should clarify the case because I found readings about prohibitions that are not allowed.
https://bitcointalksearch.org/topic/m.62136570

Technically, we can say that there are several types of wallets, and they could be divided into three categories: desktop, mobile and hardware wallets. What is perhaps even more important is that most of these wallets enable non-custodial storage of key data (private keys) that actually serve us to access Bitcoin, which is always on the blockchain. Regarding security, many will say that hardware wallets are the most secure, but none of them are resistant to human stupidity and ignorance.

As for the statement "bitcoins don't fill up automatically", you are absolutely right, and if you understand it in the right way, you will be able to avoid every scam that claims otherwise.

Although this is a forum about bitcoin, about cryptocurrencies, you can find a lot of discussion on various topics here. Not only about bitcoin, about football, but we also have political economy topics where we share experiences and skills in life as well as outside professions and business...We are very diverse. You don't have to rush, start slowly with everything, and you'll find the forum a great place, and you'll wish you knew about it sooner.

By the way, welcome to the forum.

Welcome to the forum, you are already in a forum where users are friendly and polite to members who have just joined. Some of the comments above have directed you to several references that can help you choose a wallet that is good and has a high level of security.
One thing I can suggest to you after being around the friendly people on the bitcoin.org forum, never get tired of reading. All the links that have been attached in some of the previous comments will be very useful for those of you who are studying Bitcoin and safe storage.

It's been a week since I've read almost all the different posts without any of the posts I've read making me dare to comment on them for fear of being misinterpreted. On average, all posts are only pleasantries apart from bitcoin technical posts.

Thank you so much lovesmayfamilis and everyone for coming to leave the conversation here.
I found the most valuable lesson that the wallet is an object that is important in storing bitcoins. Wallet security is very valuable even though once there is a wallet, bitcoins don't fill up automatically without buying and/or in other ways.

You are right lovesmayfamilis that this forum is full of information. I will always try to carry out your message.


Now I decide to learn to focus and be consistent without rushing.

There is also a football discussion board here that can channel analysis as a hobby.

Welcome to the Bitcoin community, Aprilio!

It's great that you're taking the time to research and learn about Bitcoin before diving in. Here are some answers to your questions:

Wallets: A Bitcoin wallet is used to store your private keys, which are necessary to access your Bitcoins. There are two main types of wallets: software and hardware.
Software wallets: These are wallets that are installed on your computer or smartphone. They are convenient to use, but they are also more vulnerable to hacking and malware attacks. Examples of software wallets include Electrum, Exodus, and Mycelium.

Hardware wallets: These are physical devices that store your private keys offline, making them less vulnerable to hacking. They are considered to be the most secure type of wallet. Examples of hardware wallets include Ledger, Trezor, and KeepKey.

Bitcoin addresses: A Bitcoin address is a string of letters and numbers that is used to send and receive Bitcoins. There are two main types of Bitcoin addresses:
Legacy addresses: These addresses start with the number 1. They are the original type of Bitcoin address and are still widely used.

SegWit addresses: These addresses start with the letters "bc1" or "tb1". They are a newer type of Bitcoin address that was introduced to improve transaction speed and reduce fees.

It's important to note that while some wallets may only support one type of address, most modern wallets should support both legacy and SegWit addresses.

When it comes to choosing a wallet and address, it's important to do your research and choose a reputable wallet provider. Additionally, you should always make sure to back up your wallet and keep your private keys secure

Welcome to the forum.

I would focus on the basics like just learning which wallet is which and what it is best used for. 

Personally, I recommend that new users start out with Blue wallet for your mobile wallet because I think it has the highest level of functionality for the average user. If you're looking for a desktop wallet with a high level of functionality, I would suggest using Sparrow wallet but it takes a little understanding to setup and use.

If you plan on using lightning for payments, I would suggest either Muun or Phoenix because they are both plug n play non-custodial wallets so you control your private keys but you don't have to manage channel liquidity.

This page might help point you in the right direction: What Is A Bitcoin Wallet?

Once you know what you want to do, choosing a wallet is much easier. Best of luck.

Welcome to the Bitcoin forum.
My advice, don't rush.

un_rank, mk4, TravelMug, UchihaSarada and lovesmayfamilis have provided links for you to read and other friends have also provided explanations that make it easier for you to get what you want.

To make it easier to dig into something the OP doesn't know about, I think discussing it on a local board might also help.
Where do you come from?

what do you mean about them having the control to accept or not bitcoin? i believe that exchanges will add the bitcoin to your balance as long the address is correct.
the sad thing if using the exchanges is we can't have control of that address

OP, you are welcome to the forum. It is good that you joined this community to learn and get most information about bitcoin and the blockchain. Learning is a gradual process here because there are a lot of information that you need on how to be a successful investor and how to keep your investment safe. Taking it slow and steady will make it possible. You have been given so many articles to read on wallets,you should read them so that you can know the best wallet suites you.

Yea,I did that also. As long as you get registered into the forum,your mindset will be how to buy bitcoin because you will be reading so many threads on bitcoin. The second thing that comes into your mind will be,if I have a bitcoin,how will I keep it safe? which will boil down to having a wallet without a bitcoin. After having a wallet,your mind will be at rest because you know that it is possible for you to have bitcoin.

Although Bitcoin addresses are different, but everyone must know if any format can receive and send to each other as long as you're use a non custodial wallet. If you use a custodial wallet or exchanges, they have a control to accept or not, depends on their development. All exchanges must be accept 1 (legacy) and 3 (segwit) address, most of exchanges already accept bc1q (native segwit), and only few exchanges are accept bc1p (taproot) address.

It's always so surprising that the first thing newbies want to know about is wallet information.
I was like that too, thinking that if there is a wallet, then bitcoins will definitely appear there soon.
OP, in addition, it is useful for you to learn how not to lose your assets and how to properly store and use wallets.
The forum is full of information; rushing here will be a mistake. Try to study everything slowly and consistently.
Link for easy search - https://bitcointalksearch.org/topic/guide-searching-effectively-5276341

Sooner or later the OP will find the answer behind all this considering there is nothing specific to ask.
Idea after idea will be found later if OP is serious about being in this forum.
The invitation to join this bitcointalk forum is for me the right choice told by a friend or someone the OP mentioned.

Wallet security is very important, that's true. The selection of a good wallet is also very important.
Electrum, Bitcoin Core is my recommendation for PC.

Addresses are different, some start with bc1, 1 and 3.
Choose a bitcoin wallet that is open source.

Rather than creating your own cold storage using Electrum, it's better for @OP just buy a trusted and reputable wallet e.g. trezor or ledger from official stores without need to think how to create a safe wallet. He's still a newbie and he might mistakenly wrong set up the correct cold storage.

The price of hardware wallet is around $50-$100, he can buy more cheaper during Black Friday promotion at November, 24 if he want to wait.

All wallets listed on the bitcoin.org website are secure enough to provide reliable protection for your bitcoins: it is definitely a good source of information to choose your first wallet, especially if you have no prior experience in dealing with similar software systems. All those wallets are open-source, which means their codebase is being maintained and peer-reviewed by the bitcoin community consisting of people of different levels of expertise in programming and development. If you don't have knowledge in this field or can't review the code yourself, don't worry: as long as you use a widely-adopted wallet such as Electrum or Sparrow Wallet, you may be sure that it was well-reviewed and shouldn't contain serious bugs or vulnerabilities. As for privacy wallets, you better don't use them until you fully understand how the Bitcoin protocol works, how to manage UTXOs, and control your behavior during transaction sending or receiving. Privacy wallets won't help you if you don't understand the basics, and they may do more harm than good if you choose the wrong wallet to protect your privacy.

Well, that's a good effort to explain very basic knowledge about Bitcoin. So, what's the specific help that you need, mate? Uhm, about this  This is true, but it's not only the security of the wallet itself that's important; you also need to know how to secure it. For example, you need to know that the wallet consists of two keys: a private key and a public key. The private key to your wallet is a lengthy string of letters and numbers that, like a password, must be kept hidden. Meanwhile, the public key is your wallet address that was shown publicly. People can send crypto (or, in this case, bitcoin) to you through this address. It is right that wallet addresses consist of random alphanumeric that start with a 1, a 3, or a b. I hope it could help, if not don't be hesitate to ask more specific questions in this forums. Cheers!

With Electrum wallets, you can set up cold wallets or multisig wallets that are more secured than single-sig wallets.

Creating a cold storage wallet in Electrum
Creating a multisig wallet in Electrum
[GUIDE] How to Safely Download and Verify Electrum [Guide]
Old phone as cold storage?

Just to add though, all the comments are good and worth looking by the OP,

But if you can find a wallet like open-source, then it might be the best wallet that you can find, in my opinion.

Might be a good read as well: BTC address formats.

This is really awesome and something I never knew. Bitcoin.org provides you with a reliable filter and sorting option to go out and find the best wallet either hardware or software for being your own bank. If I was a newbie, I would have loved this for how useful it is.

Let's take an example of an average Bitcoin enjoyer, who uses Windows OS, is new to the field of Crypto just like you, I would simply go with Electrum as that is also suggested by the above website.

Some features Electrum provides:

- 2FA
- BECH32
- Legacy Address
- Lightning
- Segwit
- Multisig

I am sure it covers all of your needs with Bitcoin and if you are looking for a wallet that not just only cover Bitcoin and other crypto assets as well, go with a Hardware Wallet like Trezor or Ledger.

Everyone is willing to help you out. Aside from the stickies that's being posted in here as a suggestion for you to read about wallets.

You can also go directly to: https://bitcoin.org/en/choose-your-wallet?step=5

That's a link for wallets that you may want to use and being suggested. It's composed of hardware, desktop and mobile wallets.

It is better that you recognize that learning is the best way to get the main insight and full detailed explanation about Bitcoin and blockchain technology, Bitcoin key and address, and the right choice of wallets so that you will know the exact choice to make when beginning your Bitcoin journey.

Learnmeabitcoin.com can be helpful as a starter because it explain everything in details for you to get started and learn the basic things you need.

Nothing specific that I should ask because I don't know where to start.
However, from the explanation that I have read, it is enough as the first step for me to learn more slowly in the future.

Thank You.
You are very warm as a place for me to ask if there are problems in the learning stage, are you willing?

Do not panic this are just public key or address formats. The ones that starts with 1 are pay to public key hash (P2PKH), those that starts with 3 are pay to script hash (P2PSH) and then those that start with b1 are the ones are the bech32 or Segwit address formats. The bech32 or segwit formats are the most preferable formats because of their low transaction fee and easier to use. It is supported by many wallets like the ethereum wallet,

You're going to have to do some reading.

* https://chainsec.io/wallets
* https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151


But in general, BlueWallet for a software wallet(if you have like <300 USD worth of bitcoin), and Ledger or Trezor for a hardware wallet(if you have >300 USD worth of bitcoin).

Read about Bitcoin wallets ^[1]. That is a good place to start when getting introduced to bitcoin wallets.

[1][General] Bitcoin Wallets - Which, what, why?

- Jay -

You can use either of them, a good self custody software wallet that is open source like Electrum or BlueWallet is highly recommended, but they are hot wallets, so if you want to hold a large amount of BTC you have to set it up in an air-gapped device, generating the keys offline and it would never be connected to the internet, but that set up is kind of difficult for newbies to do in a safe enviroment, so a hardware wallet is great and easy to use if you want to hold a lot of BTC for a long time.
There are also addresses starting with 3 and bc1p, you can use any of the addresses you want and they are all compatible with each other, but i will advise you to use the address that begins with bc1q, it is the one used the most today because the fees are lower when you use this address and the transactions are faster.

What kind of help do you need?
Ask some specific questions about what interests you and what is not clear to you. this way we can only guess and give extensive advice that you may not even understand.

If you are confused by addresses that start differently, don't worry, because they are all compatible with each other. A Bitcoin address can start with 1, 3 or bc and it doesn't matter which one you use, with the fact that users of Segwit (starting with 3 or bc) addresses pay a slightly lower fee compared to users of legacy addresses (starting with 1).

The most common classification is software and hardware wallets, although that is also a bit more complex. A hardware wallet is certainly safer to use, but you have to pay for it.

Hi. I'm Aprilio.
This is my first post.

I joined the bitcoin forum initiated by a meeting with one of the people who claimed to work as a miner.
He explained to me about bitcoin in general, what is bitcoin, what is the role of bitcoin in the future that made him pursue this activity.
For my reference, he said join the bitcoin forum (bitcointalk.org) to find out all things bitcoin.

A few days ago I registered here but only to open and read. I continued my search on google and found the bitcoin.org site.
On the bitcoin.org site I found some initial steps such as a wallet and what is bitcoin.

Wallet security, a good choice of wallet is as important as privacy.
Regarding the wallet, I found two, namely software and hardware.
Then there are addresses starting with b1. Next there is an address starting with the number 1.

Please help me.