-what are the best Bitcoin wallets? | Bitcointalksearch.org

ice098

hero member

Activity: 1498

Merit: 586

Cryptocasino.com

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

For a larger amount of Bitcoin (assuming that it is really big now since bitcoin is over $50000 now I am recommending hardware wallet such as Trezor and Nano Ledger, I think both of it can hold any coin that is under in any chain (I am not sure about this though) , and be sure you put that hardware wallet in a safe place. Next to it is software wallet, but I don't have prior experience on that thing but some reviews says that it is good. I also have some assets in Binance as well I just make sure that my password is strength with alphanumeric combination and 2FA.

charlesmichel1

jr. member

Activity: 147

Merit: 6

I use Trezor for long-term storage and Ownr as a wallet for everyday needs.

ranochigo

legendary

Activity: 2954

Merit: 4158

Quote from: ?? on ??

Bitcoin Core is better option in term of privacy. Unless you run your own Electrum server the client app of the same name connects to 3-rd parties servers many of which are run by blockchain analytics agencies. That compromises both your wallet's addresses and balances.

Not a fair comparison. Bitcoin Core and Electrum are completely different type of implementations, with one being an SPV while the other is the fully validating wallet. It'd be a skewed comparison because SPV wallets are generally not very good at keeping privacy as compared to fully validating node. There are however, wallets that are focused on privacy and that would actually be a better wallet than Bitcoin Core for privacy. Wasabi Wallet, for example gives the optimum privacy for an SPV wallet with it's built in CoinJoin and Tor, which Bitcoin Core lacks.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

As mentioned, I would also recommend both Electrum and Bitcoin Core wallets. Depending on how much BTC you have, you may want to learn about multi-signature wallets too, and running your own full node as well.

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: raise001 on January 25, 2021, 02:18:25 PM

One of the most recommended hardware wallets is the Trezor wallet. I could call it my best cryptocurrency wallet. It is a “bulletproof” Bitcoin wallet and is hyper-secure

Please.. if you don't know what you are talking about, there is not a single good reason to make a post about it.

You are misleading others.

No single form of storage (regardless whether hardware wallet or air-gapped storage) is bulletproof.
Especially the trezor has known hardware vulnerabilities.
I'd recommend you to look it up.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: raise001 on January 25, 2021, 02:18:25 PM

One of the most recommended hardware wallets is the Trezor wallet. I could call it my best cryptocurrency wallet. It is a “bulletproof” Bitcoin wallet and is hyper-secure....

Are you familiar with the vulnerability that this HW has in the sense that it is very easy to hack the same device and steal the seed if someone comes into the physical access of your device? Of course there is protection from that attack, but how many people know about the possibility to set passphrase? Not a single HW is bulletproof, these are just myths for naive people...

Quote from: Mkmanik on January 26, 2021, 02:51:22 AM

Personally I am using a Blockchain wallet for my Bitcoin and I feel safe here.

You use a blockchain.com wallet which is actually an online wallet, so although there is a difference between that service and Binance, I would not keep more than a few hundred dollars in such a wallet. The fact that you feel safe there can only confirm that you do not fully understand the risks arising from services like that.

Mkmanik

hero member

Activity: 986

Merit: 516

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

Not your key, Not your Bitcoin. although Binance is a very trustworthy exchange it's not safe for storing bitcoin. We know Binance also hacked at May 8, 2019 Hackers Steal $40 Million Worth of Bitcoin From Binance Exchange. Here is the link: https://www.bloomberg.com/news/articles/2019-05-08/crypto-exchange-giant-binance-reports-a-hack-of-7-000-bitcoin

I would suggest you use a desktop or mobile wallet for storing your Bitcoin. from here you can choose any Bitcoin wallet: https://bitcoin.org/en/choose-your-wallet Personally I am using a Blockchain wallet for my Bitcoin and I feel safe here. I am also using Trust wallet as a multi-currency wallet.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: Kid4U on January 25, 2021, 12:54:09 PM

Accourding to me binance is absolutely perfect and safe where anyone can hold all of his funds without the risk of stoleing .
I personally use binance
but the another wallet which is safe for holding your funds is Coinbase wallet and also blockchain.com

😬

You pretty much just recommended the top exchanges right now(besides Blockhain.com). If you think exchanges doesn't have risks of your funds getting stolen, then you're very, VERY wrong. https://cryptosec.info/exchange-hacks/

raise001

copper member

Activity: 54

Merit: 0

One of the most recommended hardware wallets is the Trezor wallet. I could call it my best cryptocurrency wallet. It is a “bulletproof” Bitcoin wallet and is hyper-secure — it supports Windows, Linux, Max and has one of the best Android wallet apps available for cold storage crypto investment.

dupee419

sr. member

Activity: 1344

Merit: 261

If you are to store huge amounts of Bitcoins or whatever that you are holding, the best tip really is buying a hardware wallet, and if you want your earning to go around, having a mobile wallet is very trusty and convenient, with the use of mobile wallets, you can make transactions much much easier, I tries Bitpay, still using it right now and I can say, the UI is actually family friendly and you can assure that your security is at maximum level because of how Bitpay actually offers different ways on securing your account.

kevinzxz

full member

Activity: 1470

Merit: 105

👉bit.ly/3QXp3oh |🔥Launchpad on TON

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

Trust Wallet is the right choice for storing your Bitcoin, besides that you can also use Trust Wallet to store altcoin (ETH, Tron, BNB, ERC20, BEP20, etc.) and access dapps from Trust Wallet (1inch, Pancake, UniSwap, etc.), therefore I recommend you to use Trust Wallet, because in my opinion Trust Wallet is a wallet that is very easy to use and simple.

Kid4U

newbie

Activity: 20

Merit: 26

Accourding to me binance is absolutely perfect and safe where anyone can hold all of his funds without the risk of stoleing .
I personally use binance
but the another wallet which is safe for holding your funds is Coinbase wallet and also blockchain.com

Noctis Connor

hero member

Activity: 1008

Merit: 540

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

For me ever since bitcoin is legal in my country i use the wallet my country preferred and if you got one in your country then you should trust in them and if you are holding big amount of bitcoin since you think that there will be a bullrun will be happen then the best wallet im thinking so far is hardwallet where you can store your bitcoin it can be easily to put it in your pocket or in your bag. But it is always up to you since it was your bitcoin we're talking about it was just an opinion of mine and it was 100% safe unless you drop it.

jacobbernsteinnyc

newbie

Activity: 3

Merit: 0

Hi there.

My name is Jacob Bernstein and I'm a reporter at the New York Times, where, as it happens, I'm crashing a quick piece about people who actually use bitcoin to make purchases (as opposed to those who are holding it purely as an investment).

Given the subject of this posting, I think maybe I'm maybe in the right place to talk to people about this.

If you'd like to hit my up today, I'm at 212 529 6573 and I can be found on Twitter, where my verified handle is Bernsteinjacob. My insta is Jacobbernsteinnyc. Any of which you can use to verify that I'm not a catfishing lunatic.

All best, JB

bitzizzix

sr. member

Activity: 2366

Merit: 448

I think coinbase is one of the easiest ways to buy, sell and store cryptocurrency and apart from that this digital exchange provider and online cryptocurrency wallet is great for people who are new to Bitcoin.
It's easy to get started, the most well-known cryptocurrency exchange and has a strong track record of security and another great feature is Coinbase Earn which gives you free cryptocurrency in return for watching videos and taking quizzes and more.
actually there are still many of the best bitcoin wallets and it all depends on the comfort and security felt by their use.

Indever

newbie

Activity: 24

Merit: 10

It's been a while since I came to this forum. As far as I've been concerned these days, if you save a lot of money, you should use Trezor, Ledger Nano. And if you want to save a small amount of bitcoin, you can use wallets like Electrum, Coinomi, Coinbase. I think the electrum is much better.

jasonjm

hero member

Activity: 1232

Merit: 524

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

If you have a handsome amount of BTC then I suggest you should use Ledger, trezor, or cold wallets. Electrium is also a good option to store your funds.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: Question123 on January 25, 2021, 08:17:46 AM

I use coins.ph It is only for my country or base in the Philippines so I hold my bitcoin to this because I really trusted this because I used it more than 5 years from now and until now I did not have any issue in using this and I feel safe that my bitcoin is safe and easy to transact and convert bitcoin to fiat anytime that I want to do that.

I personally use Coins.ph as well and they do provide a great great service(it's pretty much Coinbase on steroids), but you know what they say.. NOT YOUR KEYS, NOT YOUR COINS. The only acceptable reason that you'd leave funds on a custodial wallet/exchange like Coins.ph is if you're literally not intellectually capable of grasping the concept of non-custodial wallets; pretty much if you're like age 40+ or something that doesn't know how to use a computer.

Question123

sr. member

Activity: 1624

Merit: 267

Binance is a good exchanges but I will never recommending to hold your bitcoin or any altcoins that you have in any exchanges it's better to keep it to the bitcoin wallet. I use coins.ph It is only for my country or base in the Philippines so I hold my bitcoin to this because I really trusted this because I used it more than 5 years from now and until now I did not have any issue in using this and I feel safe that my bitcoin is safe and easy to transact and convert bitcoin to fiat anytime that I want to do that.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: [email protected] on January 24, 2021, 10:49:45 AM

Quote from: Lucius on January 24, 2021, 10:28:32 AM

dejankralj101, until you are 100% sure what is what, and how it works - you better leave everything as it is now, otherwise you could become a king without a kingdom Wink

That just made my day m8 Cheesy

If I had some merit I would merit you. But best I can do is thank you.
Cheers!

You're welcome Wink

Don't worry about merits, I'm glad you liked my comment - even though it's just the two of us who know what it's all about

If by any chance you decide to buy a hardware wallet, I recommend that you buy it for cash in one of our physical stores (Links or BitcoinStore). This will protect your privacy, and most Ledger users know what that means.

jaresmerel001

jr. member

Activity: 49

Merit: 1

Selecting the best wallet is a major concern for any crypto trader. A wallet is what makes sure your money stays secure and you can easily carry out the transaction. An extremely important factor in crypto trading is a decent wallet. As bitcoin is the biggest and most famous cryptocurrency, hundreds of wallets are available.

If you're only using the wallet to hold bitcoins or HODLing for longer term investment, then that's a cold wallet. Cold wallets are kept off line in a safe place where no one can access them and are therefore safer than hot online wallets.

Using a paper wallet is the simple option, allowing you to print a wallet and key that can be stored in a safe or secure deposit box. When you ultimately want to spend, you can read the key into many different hot wallets.

415jeremy

jr. member

Activity: 45

Merit: 3

I'd strongly recommend Trezor for storing big amounts of crypto and Ownr wallet for keeping small number of coins.

Karartma1

legendary

Activity: 2310

Merit: 1422

Sometimes I wonder how is that even possible that in 2021 people still don't get the difference of what is a wallet, what is an exchange, what is a private key and so forth.
Exchange ≠ wallet: never forget this unless you to find yourself a king without a kingdom Grin

(thanks for it Lucius)

ninabobo

full member

Activity: 463

Merit: 100

Binance is truly outstanding and most secure trades yet it's as yet a trade, not a wallet. You should utilize it to exchange not to store your coins as long as possible. On the off chance that you are not an informal investor, at that point, I recommend you pull out your assets to a non-custodial wallet.

buwaytress

legendary

Activity: 2800

Merit: 3443

Join the world-leading crypto sportsbook NOW!

Can't say enough about Electrum. You may always end up wanting to go hardware eventually. Trezor and the like as Charles-Tim points out are open source and in good standing reputation-wise, but learn as much as possible from a wallet like Electrum first -- lightweight and yet robust, advanced coin control, native segwit and now even Lightning features. Really doesn't get much better than that for a free and mature piece of software.

irixo10

full member

Activity: 1078

Merit: 104

GoMeat - Digitalizing Meat Stores - ICO

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

It is good you agreed and realised that it is a pretty dumb move, hence looking for a way to correct it. The truth that has been said here a number of times is that, no exchange is safe when it comes to storing your cryptocurrencies, they can be hacked and at least the one of Kucoin also reminded people of that, therefore you need to take your security of assets very seriously. However, the best form of wallet is hardware wallets like Trezor, but if you are trader and want something easily accessible then mobile wallets can also come handy, such as Trust wallet, Coinomi etc can also be used, thus whichever you chose, the overall viable solution is to keep assets off exchanges rather to a personal wallet. Also, learn a very important thing and that is, safeguard your private keys and mnemonic words very well.

Latviand

full member

Activity: 1540

Merit: 219

Quote from: Stalker22 on January 24, 2021, 10:51:51 AM

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

There are many different Bitcoin wallets and at this point it's best to know the pros and cons of each. My personal choice is the Trezor hardware wallet. Not only do they have a gorgeous design but you can manage Bitcoin with a hardware device that protects your private keys from unauthorized use which is great for security reasons.
If you don't want to invest in a hardware wallet at the moment, the next popular solution is a paper wallet for long-term storage or a desktop or mobile version of the Electrum wallet for frequent use.

I guarantee you that a Ledger Nano will also help you to secure your private keys.

I only use mobile wallets before but I think that I'm not that confident in holding my bitcoins only in a digital wallet because it might get hacked.

That's the advantages of having a hardware wallet because you are the only one who can access it and if you made a mistake with it then that's your fault.

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: khaled0111 on January 24, 2021, 03:14:43 PM

Binance is one of the best and most secure exchanges but it's still an exchange not a wallet. You should use it to trade not to store your coins for long term.

Exchange wallet is for trade and not for storage. You store your bitcoin, crypto on exchange, in exchange wallets for temporary purposes, and for trading. If you hold crypto and plan to wait for months to take profit, let's move them to your own non custodial wallets.

Binance has a good service and their reputation is good as they compensated customers in past hack. They might compensate for future hacks but they also might not. Bet your life on exchange even it is Binance is not good.

Store crypto in your own non custodial wallets require you to manage all risks and sometimes, for some people, exchange wallets are better. I could be wrong but I think if a person has an infected device and bad behavior, exchange wallet is better as exchange has multiple layers of protection.

khaled0111

legendary

Activity: 2520

Merit: 2853

Top Crypto Casino

Binance is one of the best and most secure exchanges but it's still an exchange not a wallet. You should use it to trade not to store your coins for long term.
If you are not a day trader, then I suggest you withdraw your funds to a non-custodial wallet.
A good hardware wallet costs $50-$100 so it's not that expensive. If you can't afford to buy one, then you can try Electrum which is one of the most popular bitcoin wallets.

0t3p0t

sr. member

Activity: 1512

Merit: 351

★Bitvest.io★ Play Plinko or Invest!

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

I have been using mobile wallets such as Mycelium, Coinomi and Electrum without any problem. I don't recommend storing Bitcoins on exchanges because your funds might be compromised anytime.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: Stalker22 on January 24, 2021, 12:56:24 PM

But I think they have pretty damn good security measures that the chances of this happening are almost non-existent.

Probably, and I definitely hope so. Binance getting hacked would be a total DISASTER. Probably even something even bigger than MtGox(don't quote me on this).

With that said, let's not forget that people deemed exchanges like MtGox and Bitfinex as "very secure" years ago. We all know what happened. Tongue

cheezcarls

hero member

Activity: 2254

Merit: 658

Revolutionized copy gaming platform

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

Binance is a centralized exchange. As long it's not your keys, not your coins as well. Binance is recommended for day trading, not for long-term holding or storage. I suggest you keep your coins in a hardware wallet like Ledger Nano S and Trezor. You will have the full custody of your Bitcoins because you own the private keys and no interference from third parties.

The Cryptovator

legendary

Activity: 2240

Merit: 2174

Need PR/CMC & CG? TG @The_Cryptovator

Many wallets have been suggested by other users. Keep in mind, when your funds on a centralized exchange mean funds aren't in your custody. It's been controlled by the exchange, they could freeze it for any reason like money Laundering or suspicious activities. The best option is buying a hardware wallet, but remember always, just buy a hardware wallet or use a noncustodial wallet doesn't mean you are fully safe if you can't protect your seeds and private keys properly. It's quite important when you are going to hoke your funds in your own custody. Always verify the source before using wallet software. Because many phishing sites would lead you to a hack attempt.

Nhor1011

member

Activity: 994

Merit: 11

Daxetoken.net

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

Don't keep your funds like bitcoin in any crypto exchange, that is not safe. You need to secure your bitcoin in a secured bitcoin wallet like electrum or other off line wallet. In our country I only use local bitcoin wallet which is safe and easy to convert and cash out in fiat money if I needed. But I also use Electrum, it was a good bitcoin wallet I already tried using.

Stalker22

legendary

Activity: 1484

Merit: 1355

Quote from: mk4 on January 24, 2021, 12:19:08 PM

Quote from: [email protected] on January 24, 2021, 11:36:31 AM

I recall that. They did compensate everyone who lost their assets tho which was nice

Yes, and it's because only a small number of accounts have been compromised. Though they seem to be taking security seriously, and though the chances of their cold wallets getting hacked is highly unlikely, it's still non-zero. If their cold wallet does get hacked, then they wouldn't be able to compensate anything.

Yes, Binance is allocating 10% of its total trading fees to an insurance fund and has paid out $ 40 million from that fund to affected users of the last hack.
I'm not sure how deep that insurance fund is, but I doubt it will cover the cost of one global hacking of the entire platform. But I think they have pretty damn good security measures that the chances of this happening are almost non-existent.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: [email protected] on January 24, 2021, 11:36:31 AM

I recall that. They did compensate everyone who lost their assets tho which was nice

Yes, and it's because only a small number of accounts have been compromised. Though they seem to be taking security seriously, and though the chances of their cold wallets getting hacked is highly unlikely, it's still non-zero. If their cold wallet does get hacked, then they wouldn't be able to compensate anything.

Ultegra134

hero member

Activity: 1540

Merit: 744

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

Shouldn't have used an exchange to store any cryptocurrencies, far too risky. Not judging, since I've also done it myself. Kept both Bitcoin and cash on my Bitstamp account, which was then left inactive for at least 2 years.

I've only used online wallets till now, I've always used BitGo and the Blockchain online wallet and had no issues so far. Recently, I downloaded and installed Electrum on my computer.

[email protected]

newbie

Activity: 29

Merit: 1

Quote from: Jawhead999 on January 24, 2021, 11:34:18 AM

IIRC binance was hacked on 2 years ago, gladly your funds still there until now.

But even though you think your coins in binance is safe since you hold it since 2017 that's doesn't mean your coins will be safe in future.

If you had high amount money in binance and never do any transaction from 2017, it's possible Binance will ask you to provide KYC to make sure you're the real owner and prevent from money laundering.

As has been said above, use hardware wallet or at least electrum to hold your funds safely.

I recall that. They did compensate everyone who lost their assets tho which was nice

Jawhead999

legendary

Activity: 1638

Merit: 1156

IIRC binance was hacked on 2 years ago, gladly your funds still there until now.

But even though you think your coins in binance is safe since you hold it since 2017 that's doesn't mean your coins will be safe in future.

If you had high amount money in binance and never do any transaction from 2017, it's possible Binance will ask you to provide KYC to make sure you're the real owner and prevent from money laundering.

As has been said above, use hardware wallet or at least electrum to hold your funds safely.

seramania

full member

Activity: 827

Merit: 100

i am using nano ledger since 2018 and until now it is safe. You have to do this to keep your assets from being hacked because currently only hardware wallets can help you to secure your assets.

OcTradism

hero member

Activity: 1722

Merit: 801

Binance is a good exchange and you can trust it. For your lifespan, you need custodial wallets to store your bitcoin. The same way whales, institutes move their bitcoin from exchanges to their wallets (cold wallets maybe).

https://electrum.org/#download
https://bitcoin.org/en/bitcoin-core/

Electrum is lighter and does not require huge data space to store the blockchain data on your computer. With bitcoin core, you can use prune node if you don't have enough data space but prune node has its flaws (resync wallet from genesis block).

If you only need a wallet to store, send, receive bitcoin, has issues with storage space, and don't have need to use Coin Join transactions, Electrum is a wallet to go.

Off topic but your username is email address that is bad. You can send request to theymos to change your username. I know one user weeks ago got acceptance to change username (from email address to a new one).
Good topics on security and privacy. You will get some topics for wallets, backups, how to make transactions safely, privacy, and more.

sunsilk

hero member

Activity: 2884

Merit: 620

You're lucky to still have your bitcoin through Binance despite that it's been hacked in the past because there's a tendency that they won't refund affected users although, they did. And that proved them to be one of the best exchanges that we have.

But they'll remain as an exchange and not for keeping your bitcoin safe. Do you have an allocated budget that you're good with to purchase a Ledger wallet? the old version is Nano S and the newest is the Nano X.

The price of Nano X is x2 compare to the old version, Nano S but it has more features and more supported coins. I haven't used a Nano X and I'm still okay using the old version which so far so good and never experienced any problem holding my own bitcoin on it.

Thus, if you don't like purchasing one. These wallets below are the best candidates.

Quote from: mk4 on January 24, 2021, 10:19:27 AM

Electrum and Wasabi

Stalker22

legendary

Activity: 1484

Merit: 1355

Quote from: [email protected] on January 24, 2021, 10:01:56 AM

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

There are many different Bitcoin wallets and at this point it's best to know the pros and cons of each. My personal choice is the Trezor hardware wallet. Not only do they have a gorgeous design but you can manage Bitcoin with a hardware device that protects your private keys from unauthorized use which is great for security reasons.
If you don't want to invest in a hardware wallet at the moment, the next popular solution is a paper wallet for long-term storage or a desktop or mobile version of the Electrum wallet for frequent use.

[email protected]

newbie

Activity: 29

Merit: 1

Quote from: Lucius on January 24, 2021, 10:28:32 AM

The risk of storing cryptocurrencies on online wallets/exchanges is great, not only because such platforms are always exposed to hacking, but also because any user can become a victim of phishing or theft of login data in some other way. The advantage of non-custodial wallets (hardware, desktop, mobile) is that the user has full control over his private keys and during outgoing transactions he can determine how much fee he wants to pay. The best crypto wallet is the one that the user really knows how to use in the right way, so even the best wallet in the wrong hands is worth nothing.

dejankralj101, until you are 100% sure what is what, and how it works - you better leave everything as it is now, otherwise you could become a king without a kingdom Wink

That just made my day m8 Cheesy

If I had some merit I would merit you. But best I can do is thank you.
Cheers!

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

The risk of storing cryptocurrencies on online wallets/exchanges is great, not only because such platforms are always exposed to hacking, but also because any user can become a victim of phishing or theft of login data in some other way. The advantage of non-custodial wallets (hardware, desktop, mobile) is that the user has full control over his private keys and during outgoing transactions he can determine how much fee he wants to pay. The best crypto wallet is the one that the user really knows how to use in the right way, so even the best wallet in the wrong hands is worth nothing.

dejankralj101, until you are 100% sure what is what, and how it works - you better leave everything as it is now, otherwise you could become a king without a kingdom Wink

sheenshane

legendary

Activity: 2366

Merit: 1206

So far you are safe with Binance because they are one of the largest crypto exchanges and the most reputable one, so probably you're safe for a while. They also promised their user to have a SAFU service. But it doesn't mean that you are safe forever and I don't think it is good to hold Bitcoin on an exchange where you didn't hold the private key.

This has been always reminded on the forum, "Not your keys, Not your Coin". Better to choose an open-source wallet that supported not only Bitcoin but also altcoin in one wallet.

Heads to this [BIG LIST] Hardware wallets (80+) and do research on your own, and if you wanted to use the Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained you might also know the pros and cons, its better safe than to say sorry.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Assuming you have a sizeable amount of bitcoin and if you don't know(and are not confident) in securely creating yourself your own air-gapped device, then I would recommend pickup up a(or a few, if you can afford testing them all yourself) reputable hardware wallet.

Coldcard[1]: arguably the best in terms of security and privacy, but user experience is quite bad and it's more for intermediate users imo.

Ledger[2] and Trezor[3]: Privacy downsides if you use their official software, but you can always use these with wallets like Electrum and Wasabi. Probably the best option for beginners.

[1] https://coldcardwallet.com/
[2] https://ledger.com/
[3] https://trezor.io/

Charles-Tim

legendary

Activity: 1512

Merit: 4795

For holding high amount of bitcoin, hardware wallest like trezor, ledger nano, Keepkey or Coldcard are good, but amount all, trezor and ledger nano are one of the most common. But, know that ledger nano is a closed source wallet, that is why I prefer the open source ones like trezor.

You can also use electrum, it is open source and good, you will need to read more about it as you can use it as normal wallet, 2fa wallet, multisig and as cold wallet, depending on which option you will like. For storing higher amount, you can also use electrum as cold wallet, but you will need two device for that. One as watch-only wallet an the other as cold wallet which will remain offline permanently.

Mycelium is also a good wallet, but it is a mobile wallet and not supporting desktop, unlike electrum that support all devices, it is open source too but it is online/hot wallet and can not be good for storing high amount.

[email protected]

newbie

Activity: 29

Merit: 1

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

Topic: -what are the best Bitcoin wallets? (Read 513 times)