Topic: What is your biggest issue with Bitcoin wallets? - page 2. (Read 710 times)

Most probably a phishing website because we will never know it's a scammers wallet until we get scammed. And besides, if we know it's a scammer's wallet, why would we send a certain amount to that wallet? And besides, anyone can easily make a fresh wallet that is not associated with scam transactions.

Make a soft copy and hard copy and place it in different locations, just to make sure it's accessible in the event of disruption such as fire, flood or if there's chaos/war within your area.

What do you mean by scammer's wallet?
To be safe from scammer websites, of course, you must know the original website of the wallet you are using. Don't get caught up with phishing websites.
Reading news about scam wallet websites will not get you caught and fall into the trap. it is information to let you know that the wallets of scammers are numerous and dangerous. Do not click on websites carelessly, do not enter or give private keys to people or websites that are not convincing. The private key is the primary key and you must protect it.

So far i don't have biggest issue when it comes bitcoin wallet because i'm using a very trusted platform since 2017 wherein until now they keep upgrading their system and it's getting better , and what i don't like only is the fees of bitcoin which not good..but yeah i can still prevent paying massive fees because i have options since there's 6 cryptos available on that wallet.. No massive issue , and so far after how many years it's still good and very reliable to store bitcoin..

My issue is to be safe from scammers and phishing websites. I feel unsafe with by reading news about scammers scam wallet. Crypto is new currency and companies are working hard for making it better.

I believe coins.ph does that also, and I've been using it since then. I prefer it more because it's user friendly and newbie friendly also. It alerts me every transactions that have took place like example sending and receiving via SMS and email. And it has a 2FA which is the most important thing to secure my wallet and my informations.
In case some of you doesn't know coins.ph yet, it is a wallet and a conversion platform which is backed by blockchain. And I'm also using electrum but it's where I choosed receive any crypto currency especially btc before sending it to my personal wallet for security purposes.

1. What are the features that you feel that are sorely missing? The ones I use tend to have most of the stuff I want, which for a hot wallet is normally basic stuff.  It would be nice if they could add Tor (though not sure if that's good for cell phones).  It would also be nice if most of these hot wallets would allow for swapping basic coins.

2. What are your biggest issues with specific wallets you're using, or with BTC/cryptocurrency wallets as a whole?  Not too many big issues other than lack of coin coverage.  Mycelium on apple stopped supporting their wallets on apple, so that was obviously a big issue.

3. What's your favourite wallet and why? Is it the user interface / user experience, colours, specific functionality, habit, perceived trustworthiness, something else?  I use Bread most often.  I like it as it's just very basic and easy to use. 

4. What changes would you like to see with the wallet(s) that you're using?   Add more of the features I mentioned above.

I tried a few wallets only, the most active wallets I'm using now are Exodus and Electrum.

I used Electrum for my campaign earnings and I love this wallet because you can adjust the fee you want and I just have to check here (https://mempool.space/) and I would already know how much fee I should put in to confirm timely. However, I also faces problems in the past as I almost became a victim of phishing, I'm glad that I have a group where I could ask for help.

The other wallet which is exodus is used mostly for altcoins transactions, I think they have a lot of altcoins I can store the altcoins that I want, but maybe sooner I will have a hard wallet so I don't need to store it on my desktop wallet.

The biggest issue with using a bitcoin wallet based on my experience is I lost money because of phishing.

When I open my Electrum wallet, there's a prompt that I need to update to the latest version, and I just click it not knowing I was redirected to a fake site. I'm not gonna divulge the amount I lose but as of the current price, it's already a decent amount.

However, despite what happened in the past, I still use the Electrum wallet and it's my favorite so far, I'm more confident now as I learn from my past mistake and I'm sure I will never lose my bitcoin again.

1. The ability to convert cryptocurrencies through low minimum amount requirement. The minimum amount requirement is usually on the higher side in many wallets based on what I observed.

2. The biggest issue that I observed in certain wallets is that fees for any TX cannot be manually set which is a con in my opinion.

3. Exodus all the way. I love it's design and performance on my mobile and it's security protocols are top-notch.

4. The minimum amount requirement needs to be lowered in Exodus since it usually on the higher side for all cryptocurrencies.

A modern-looking GUI and design. For the older generations who are into Bitcoin for years already, the way the software looks isn't that big of an issue. But newer generations will look at it, and say nah, this doesn't look right. For increased adoption, it's their opinions that have to be take into consideration.  

I would love to see a wallet with a detailed walkthrough and on-boarding process for newbies. Not just FAQs, DOCs, and videos explaining how to use the wallet to send, receive, etc. I would like a testnet environment similar to what some exchanges have to teach users how to trade on their platform. A testing area that users can go through with testnet coins that shows them how to generate an address, how to send and receive coins, select the appropriate fees, double check your entries... And they should be able to do all those things in that test environment, not just read about them.

I have to go with Electrum here. A force of habit and its trustworthiness. Electrum was the wallet I tried many years ago. It worked back then, it still gets the job done today, and offers me the coin control features that I need.  

The points I mentioned in questions 1 and 2.
An open-source multicurrency wallet would also be a pleasant surprise.    

hmm, perhaps the most sought after feature is the security system itself. Well, maybe I think 2fa is a feature that needs to be in every wallet. In addition, systems such as forgotten email, or mobile phone numbers, or things that can provide alternative access to login other than pviate keys may also be needed. Well, that's just a thought I've had so far.

My problem regarding the wallet that I have is several. the first is the problem of how to access the wallet. sometimes i save PK and password in some places like mobile, or PC. however, i always think about it, what if it goes away ? Well, maybe that's the thing I always think about my wallet.

for bitcoin, I use a web wallet like blockchain.info, while for ethereum, I use Myetherwallet, and BSC, Trustwallet. however, so far I'm more inclined to keep assets on CEX like binance.

So far so satisfying, because I rarely pay attention to the wallet I have. however, if you want a change, I might want a security and recovery system that is within reach of the person who owns the wallet.

For me there is only one feature that is missing on Bitcoin wallets and I think one of the probably the best to have is the coin mix for any amount, I use Wasabi wallet before but the minimum amount is 0.01 BTC which is not suitable for micro transactions, some users wanted to have a private transaction even with smaller amounts but I think it's because of the transaction fees and other stuff.

I am checking sparrow wallet right now and I think you can use coin mix with smaller amounts around 0.001

I am using three wallets for now. This includes mycelium, electrum and nano ledger.
For all of them or any other wallet out there I see one major challenge or feature that is missing -> Offline Transactions. Traditional banking apps who needs internet to synch the data and validate the data before confirming a transaction. Unlike that, crypto wallets has additional benefits of blockchain where the Tx gets confirmed after miner validates it once it is broadcasted to the chain and picked up by miners. When we have a wallet installed in our phone they usually synch up the latest blockchain data and work in series of data packs received and sent.

I believe that crypto wallets should be able to send the money even when its not connected to the interenet. They can add the feature in wallet which will help embed the broadcasted transaction hash on the phone its itself and get "temporary confirmation". The receiver address should gain the coins in their wallet by means of NFC, IR, Bluetooth to synch up this hash and make the coins available in their wallet.

Once any of the mobile phone is connected to the interent then wallet shall be able to synch this data with the parent blockchain and get the "permanent confirmation" about that Tx.

Obviously this will have many technical issues but what I have mentioned an issue and an imaginary solution to it as per my thoughts.
May be developers could have solution on this in near future, but with the blockchain tech I believe it should have been invented already.
 

Well I have no other complaints with the wallets. All I am concern about the connectivity which they have given us. No network means the app is useless.
At least they should be able to add the feature where I can synch the data between my mobile version and desktop versions too. Read above to understand this. 



Mycelium is great one for me. Idk, may be this is the wallet where it all started for me. Obviously the ease of use is way better than other wallets. I can easily bump the fees, tx if not broadcasted or got stuck. I get to have HD wallet and regular wallets which I can segregate as per my needs. Good feature mostly not seen with other wallets. The fee structure can be chosen as per your speed. They have unique differentiation of fees, like low priority to highest priority. Recently I have seen lowered fees in the mycelium as compared to others.



Ability to notify the incoming and outgoing transaction in the notification bar is not available for the ledger and mycelium if the app is closed. Or in case of ledger you need to have it plugged in to see the notifications.

Also, they dont have the quick smart apps on the Apple watch. For example, Raven Core has their smart watch app to where you can quickly see the upcoming transaction and also check the balances. This is missing for others I believe.

Yes, that is not possible, he is totally implying custodial exchanges. But exchanges can also be decentralized and be open source, like bisq. It can also be possible for Electrum to have an open source decentralized exchange but I do not think that is happening anything soon even if it will later likely become reality.

Segwit has been activated since 2017, any exchanges that is not using it should not be used. But normally on noncustododial wallets, you can receive or send bitcoin from or to any wallet irrespective of the address type, be it legacy, nested segwit or native segwit.

But, you still have to know that Electrum support legacy addresses:

Either you downgrade your wallet to version 4.0.9 to see segwit as an option while setting up the wallet, but which I will not recommend because it is good to use the latest version.

You can use the version 4.0.9 to generate just the legacy type of the seed phrase, then import the seed phrase on the latest version of Electrum. This will automatically generate you legacy keys and addresses.

You can use the console, type in:


It will generate you seed phrase, then import the seed phrase generated on it to another Electrum wallet, it will be of legacy type.

Well in my own --that is impossible that it will happen.
Electrum wallet is not a company or even a custodial service that has an owner, it is an open-source code that everyone could have access and there are few developers team that gives an update on Electrum. However, your suggestion is good and it looks like the same on those multi coins wallet that has a built-in exchange inside but the problem of those wallet has a terrible fee.
I am an Electrum user and I have never had a problem, the only one that I am want to have changed is Electrum wallet should be also supported with non Segwit wallet because I cannot able to send coins to Electrum because I am using a local wallet with an address of the legacy wallet.

If you need only an address or you want to be using a single address, you can copy it and paste it somewhere that you will easily access it. You can give out your address to anyone, it can be anywhere on your device and you are good. Address is what you can give out to public.

For example, you are using a wallet that change address, that does not mean you can not give it out to a campaign manager on this forum, even if the address change to another on your wallet, any coin sent to your previous address (like the one given to campaign manager) will still be successful, the coin will be stored on blockchain and the amount will appear on your wallet balance.

So, there is nothing wrong about change address, it helps privacy to an extent, you can not expect all blockchain observers to run central servers all because they want to link IP address and bitcoin addresses together, and yet if they do, change address is still given privacy compared to using single address which its coin can easily all be seen on blockchain to all blockchain observers.

A mobile wallet with an alert via SMS to acknowledge the receipt of an incoming coin just like a bank alert will be a welcome idea, I think blockchain has such feature and moreso easy to navigate user interface and not too complex sort of like in some wallets thus newbie friendly and most importantly 2FA is very important to improve the security of the wallet, if the wallet can feature signing of messages like electrum for authentication using mobile phone not necessarily or always on PC

I agree with others with the 2FA being added and not just passwords which are mostly used like in Electrum and Mycelium.
I have them both, one on my PC and the other on my smartphone.
Other issues were said by other members but if there will be changes that I want to add to the software it will be a direct link whenever I look at the transaction hash/history.
In Mycelium there is a prompt but it always brings up an error and I think the web URL that was used is wrong or phased out. It would really make clicking easier than copy-pasting.
That's it, I think I covered all the questions including the favorite and most used.

I believe these wallets must provide us 2FA facilities like phone call, sms, Google Authenticator, etc. to make the security very tight.


Some wallets change addresses constantly and I believe it's good, but to some extent where people like us need a single address to be shared, it is not something I'd prefer. Yeah definitely it helps maintain privacy, but come on, are we really that private anymore?


Electrum, it's a habit to use it and I'd call it an extremely simple and sober way to get known to crypto in a simplest way, so I use it.


I'd like Electrum to give an in-built exchange (through a third party exchanger) be made available so not to let me send coins to an exchange and waste my money on fees, but charge their commissions and let me trade inside.

1. Almost the same as what @GreatArkansas stated above, it is about verification when we want to send BTC. So far, I see there no such verification asking for 2FA such as Email, Google Authenticator, or Message to my phone number.

2. I have found no big issues. The biggest problem probably is about the number of transaction fees only.

3. My favorite BTC wallet is Segwit. It is simple and easy to use. I avoid using BTC wallets that are rather complicated in using it. Another reason, it supports bech32.

4. The process to create Segwit wallet is a bit complicated or rather difficult. I hope it can be easier in the future. So, newbies can easily create it.