Topic: What is the most trusted bitcoin company? (Read 533 times)

Blockchain.com is considered the most trusted wallet, they transact 1bn dollars a month,
https://www.blockchain.com/


If you have some sort of server-side knowledge why not set up your own node... it's the safest way to go...


Best of luck

i am so sure youre talking about bitcoin wallet or where you can store bitcoins. The first most secured wallet i will advise is the hardware wallet, you can either get the Ledger Nano or Trezor wallet those are the two that i know. If you can get those two then i will advise you open an account on blockchain.info or you download Jaxx wallet on app store those are the two wallets i go started with when i got into crypto

    I think it is best to use a hardware wallet, because no software can be installed on this type of wallet, so these wallets are extremely secure and it is impossible to be hacked. Another very good option, but more complicated to use is paper wallet, but the one who opened this thread being a beginner, it is recommended to use a hardware wallet.

I guess we can't call it a centralize wallet. It shares you access of your fund to yourself like other wallets do; for instance, electrum. But blockchain is an web wallet and I wouldn't recommend anyone to use that as it's more prone to be hacked.

the one you start yourself 

I am one of the victims of Binance. Was pretty shocked when I found out it was compromised like some time after the incident.

Basically nothing online (as a service) is safe.

The main reason for high bitcoin miner fees is supply and demand. Which means that miners can only confirm. However, there is a chance that the value of bitcoin could spike again in the near future, and those who buy when it is at its current value could stand to turn a profit. Bitcoin or other types of cryptocurrency, you'll have limited legal protection and a high risk of losing some or all of your capital.

only online wallets i use is coinbase and i have for along time since i got into btc like 5 yearsago, and blockchain wallet. dont know if they can be 100% trusted nothing can be 100% but i trust them enough.

If you have already created Blockchain account, then that's great but be careful about password and private key. If you lost them somehow or share them with anyone(ex: airdrop, give away etc) , may Cause you can lose your fund.

What about all the people who have had problems with Coinbase? All the people who have had their accounts hacked? Or their coins confiscated? Or their accounts frozen? Or had their KYC details sold to third parties? Just because you have had no problems with a company yet, doesn't make them trusted.

We have no idea what blockchain.com's security system is. They are entirely closed source and there have been no independent audits of their security set up, so to say they have a good security system is complete conjecture. They could store everyone's private keys in plain text on an unencrypted laptop which someone carries around to coffee shops - we have no idea.

The whole point is to not trust any third parties. Withdraw your coins to your own wallet, and store them yourself, instead of trusting complete strangers to hold your money for you. Don't trust, verify.

In my opinion trusted bitcoin company or trusted exchanges to store bitcoin is coinbase, but blockchain.com is also included
trusted and has a good security system. I use coinbase for about 2 years, and have never experienced problems. Therefore
I recommend storing bitcoin on coinbase.

Ease and accessibility. The vast majority of people have zero experience or knowledge regarding booting from a live OS, using linux, using command lines, etc. Saying that people should just use OpenSSL is glossing over the fact that the majority of people have no idea how to even tell their computer to boot from a USB stick rather than from the hard drive. It might be more handy for you, but it certainly isn't handy for the person who has to spend hours searching the internet for instructions for every single step. Plugging in a hardware wallet and having it spit out a seed in 3 minutes is far more handy for these people.

It's the same scenario as with an encrypted airgapped cold wallet. It's more secure than a hardware wallet, but it requires a degree of technical competence to set up and use correctly, and the majority of people are going to be more comfortable using a hardware wallet than spending hours figuring out how to set one up.

I know there are people who say "Well, everyone should just learn", but that's an unsatisfactory response. Bitcoin can't require the average person to spend hours or days to learn how to generate a wallet securely. It can't require everyone to be able to boot to linux or use a CLI. It need to be easily accessible, and hardware wallets achieve that while maintaining a very high level of security.

Binance and coinbase are for sure not the most trusted Bitcoin companies!

I don't understand why you point them out and then say you don't recommend them. So are they trusted or not?

I'd trust Trezor and Ledger. Their products can be trusted and there were no signs of ill will from them. Using them is probably the second safest way of storing your coins right next to an offline cold wallet.

Purchasing a hardware wallet like Trezor, Ledge nano s and Keep Key can be a good choice, because I use it too. I am a Trezor Wallet user, safer compared to a wallet on a computer or cellphone. But for paper wallets I have never used it, paper wallets can be an option or alternative wallet that is safe and free, but the Private Key must be stored properly and not to be lost or damaged.

First thing I would tell you  there is no such thing as Bitcoin Company .

It's the third party exchanges that people usually use to change their Bitcoins.

You should write down your country because I do think it would be good for you to use your national exchange, low fee , plus direct transfers to and from your bank account.

Therefore find some local one , most wallets do provide even exchange at a good price .

If you are mean exchanges than binance and coinbase. But im not recommend to you to store money there. Its much safer to just hodl on your own non-custody wallet

You first off never want to leave your coins on an exchange or a "hot wallet".  A hot wallet is apps on your cell phone ( such as bread, or blockchain ).  Exchanges have been known to be hacked before as well as exchanges like Coinbase use a "moral" code of their own and have been known to lock up peoples funds.

The safest wallet is a paper wallet, but these are difficult for beginners to set up.  I would suggest buying either a Trezor or Ledger wallet.  These are quite easy to use.

I disagree.
Why should someone use a hardware wallet from a friend instead of simply using his computer ?
Using a device from a different person, again needs more trust.

If you trust your hardware (which you have to, otherwise you shouldn't use any IT devices), you can boot a live linux distro and use /dev/random to generate the entropy. Then use openssl to create your private- and public key as well as the address.
This requires less trust and is more handy.

I am updating what I wrote in the previous post. I have never heard of this subject. Thank you for the correction.

Then the most reliable way for now might be to use a hardware wallet.
I would like to share with you a method of creating a paper wallet (with a Ledger).
In this method, you will need a Ledger device. However, you do not need to have Ledger in this method. It is enough to create a wallet with Ledger belonging to a friend you trust and reliably store the seed keys of this wallet. Then you can reset the device and return it to its owner. Your wallet, which you can always access with a Ledger device, is at hand.
I agree, it is not a practical method, but it is extremely reliable.

As I have explained in my post just above yours, both the sites you have listed there are known scams. They were both once open source and trusted sites, but have both been bought out by a malicious third party and turned in to scam sites. Unfortunately, because of their previous good reputation, lots of people still blindly use them without checking and end up losing their coins.

See this post (https://bitcointalksearch.org/topic/m.54444963) and the post by user bedla a few below it for a good explanation of the issues.

Just because a site was once open source/trustworthy/reputable/etc., doesn't mean it will always be. You should never be using a live site anyway, and if you are downloading a site to use (or any program or software, for that matter) you should be checking the source code of what you have downloaded, and not just assuming nothing malicious has happened since the last time you downloaded it.