Which wallet can i use for my needs | Bitcointalksearch.org

Coyster

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Quote from: Rimueng on February 05, 2024, 07:30:42 AM

I agree with other comment like seperate between btc and altcoin wallet. for btc use trust wallet, you need keep phrase and this secure option because it supports Bitcoin and a wide array of altcoins, meaning you can manage multiple types of crypto assets within just one wallet.

Do not use trust wallet to hodl your Bitcoins, trust wallet supports many altcoins and also Bitcoin, but use it for only your altcoins, and choose from the other safe and secure alternatives for your Bitcoin, like electrum wallet.

Quote from: teamsherry on January 30, 2024, 10:55:17 AM

they are numerous wallets that support bitcoin and altcoins like metamusk, electrum etc.

Mind you that electrum wallet does not support both Bitcoins and Altcoins, electrum wallet is a Bitcoin-only wallet.

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Quote from: vs2014 on January 29, 2024, 01:03:38 PM

Personally all wallets are safe for me if i can keep the private key and password of your wallet confidential. There are many wallets which are all good but exchange wallet is not very convenient. If you want to save big money then avoid exchange wallet. If your capital amount is high then you can use hardware wallet and if the amount of money is small then you can use trust wallet, coinbase, myetherwallet.

best wallet someone can advise you or encourage you to use for your cryptocurrency investment especially a Bitcoin is a Electrum wallet, other wallet are good but as you said what is paramount or important is the seat phrase of any wallet because the prophet key is most important thing in any wallet depends your storage of your private key, the mistake some of us always make during a cryptocurrency investment and its private key is to store save our Private key in our laptop and also our phones so it is good for someone to write out of the private key or the seed phrase and document it manually than saving it online.

Rimueng

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Quote from: Yorubek on January 08, 2024, 09:22:25 AM

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

I agree with other comment like seperate between btc and altcoin wallet. for btc use trust wallet, you need keep phrase and this secure option because it supports Bitcoin and a wide array of altcoins, meaning you can manage multiple types of crypto assets within just one wallet. And for splitting assets like altcoin and flexible to use in dekstop and mobile I prefer use Metamask.

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Quote from: Yorubek on January 08, 2024, 09:22:25 AM

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

I don't really know the reason why you want a wallet that can store altcoins, but I will advice you as a newbie you don't need to put your target and focus on altcoins because it takes good understanding for one to be able to decide to go for which altcoin will be better to invest in. Since you are still young in the crypto world it will be best you focus on bitcoin and choose the best wallet that is good for storage of bitcoin. Making your choice concerning wallet shouldn't be because of altcoins but let bitcoin be the reason why you need a good wallet for storage.

Altcoins are not what a newbies need to put the mind, concentrating on altcoins can be misleading expecially for newbies and it is very easy for a newbie to lose his/her money in altcoins. As for altcoins I know trust wallet as one that many altcoins can be stored, buy the trust wallet is not he best for bitcoin, it is better for bitcoin can to be store in non custodial wallet.

Ojima-ojo

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For a few bulk, you can use any of the recommended online wallet, for me i used bluewallet to store my Bitcoin but i don't know about altcoins since I have none of that for now, but if I may consider holding any at a time, I would rather choose to use a trusted wallet for short-term storage, because a trusted wallet accepts multiple coins and can connect to decentralized exchange Dapp such as uni swap and the rest.

For the highest level of security, you may have to use a hardware wallet like Trezor and the rest of the hardware wallet device if you are holding for the longest period.

jrrsparkles

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Quote from: aTriz on January 30, 2024, 06:01:48 AM

Quote from: jrrsparkles on January 23, 2024, 12:20:34 PM

I will say Electrum is more suitable for a newbie due to its popularity and simple UI/UX. But choose your bitcoin wallet based on multiple factors via: Choose your Bitcoin wallet

For altcoins, you can refer replies from Open source multi crypto wallets!

Your wallet must provide private keys/seedphrases and it should be open source.

Electrum is one of the best wallets for bitcoin. but I would advice a newbie to use a wallet which supports bitcoin and altcoins both. Coinomi, or Trustwallet these two would be perfect fit for OP.. while it is not a problem for him to use multiple wallets but as you said a newbie. then it is better to stick with one wallet until you gain some experience in crypto.
Coinomi and trustwallet both are non custodial. BTW. coinomi works on an electrum seed too. so it should be good for OP.

Both Coinomi and Trust wallet are closed-source so I would not recommend both these wallet for anyone to store their crypto assets but the alternative can be Unstoppable Wallet, which is multi crypto wallet and open sourced too.

Github: https://github.com/horizontalsystems
APP store: https://apps.apple.com/app/bank-bitcoin-wallet/id1447619907?ls=1
Google Play: https://play.google.com/store/apps/details?id=io.horizontalsystems.bankwallet

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Quote from: Mpamaegbu on January 30, 2024, 11:39:27 AM

Quote from: God bless u on January 29, 2024, 02:20:30 PM

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.

That's not a good suggestion to start with. Exchanges aren't for storing coins/tokens. They're only beneficial for trading. Just buy on them and move to your private wallets, except you're going to be trading them there. If you do trade them on exchanges, make sure not to leave them there for long. Remember, not your keys, not your coins, slogan?

Yep it's a bad advice. Theymos even announced here in this forum to avoid storing our tokens to exchanges as they are not meant to be a wallet. Theymos made us remember it after the FTX scandal where people lost their coins/tokens by storing it at that exchange. It should be a common knowledge in cryptocurrency that exchange isn't supposed to hold our assets, it's a place where we can exchange them for something. Newbies are the one who should learn this at least before venturing out on crypto opportunities.

Quote from: Mpamaegbu on January 30, 2024, 11:39:27 AM

You wrote like one who's VERY new in this industry. Otherwise, you wouldn't be expressing so much confidence in a Cex. Binance may have a great rating now but that doesn't insulate it from the realities of hacks and betrayals. Remember Bitrex, Coinex, Poloniex; just to mention but three; those were the exchanges that dominated the crypto space when I came into it in 2017. Where are they now? Anything can happen in this industry.

Quote from: God bless u on January 29, 2024, 02:20:30 PM

It's work very well and no one can move your money.The best thing about it is the authentication that you do any transfer then authentication code will receive to Google authenticator, your money can go out through it. When you have it, no one can take your money out. There is another way to not to get your money out. If you have installed it, no one can hack your account.

He just doesn't know how tricky hackers are in this days. The examples you mentioned are failed exchanges that supposed to be trusted way back. Even if the google authenticator somehow save you from being hacked, there's a chance that the exchange itself is the risk why your asset will disappear.

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Quote from: God bless u on January 29, 2024, 02:20:30 PM

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.

That's not a good suggestion to start with. Exchanges aren't for storing coins/tokens. They're only beneficial for trading. Just buy on them and move to your private wallets, except you're going to be trading them there. If you do trade them on exchanges, make sure not to leave them there for long. Remember, not your keys, not your coins, slogan?

Quote

It's work very well and no one can move your money.The best thing about it is the authentication that you do any transfer then authentication code will receive to Google authenticator, your money can go out through it. When you have it, no one can take your money out. There is another way to not to get your money out. If you have installed it, no one can hack your account.

You wrote like one who's VERY new in this industry. Otherwise, you wouldn't be expressing so much confidence in a Cex. Binance may have a great rating now but that doesn't insulate it from the realities of hacks and betrayals. Remember Bitrex, Coinex, Poloniex; just to mention but three; those were the exchanges that dominated the crypto space when I came into it in 2017. Where are they now? Anything can happen in this industry.

teamsherry

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I think you should figure out what you want to use the wallet for, they are numerous wallets that support bitcoin and altcoins like metamusk, electrum etc. So I think if your looking for a wallet with maybe a special feature or something like that.

summonerrk

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Quote from: aTriz on January 30, 2024, 06:01:48 AM

Quote from: jrrsparkles on January 23, 2024, 12:20:34 PM

I will say Electrum is more suitable for a newbie due to its popularity and simple UI/UX. But choose your bitcoin wallet based on multiple factors via: Choose your Bitcoin wallet

For altcoins, you can refer replies from Open source multi crypto wallets!

Your wallet must provide private keys/seedphrases and it should be open source.

Electrum is one of the best wallets for bitcoin. but I would advice a newbie to use a wallet which supports bitcoin and altcoins both. Coinomi, or Trustwallet these two would be perfect fit for OP.. while it is not a problem for him to use multiple wallets but as you said a newbie. then it is better to stick with one wallet until you gain some experience in crypto.
Coinomi and trustwallet both are non custodial. BTW. coinomi works on an electrum seed too. so it should be good for OP.

I will not write about Trezor or Ledger to a beginner, he will then understand the essence of these difficult wallets for a beginner. I would advise a beginner to use the Wallet Trust specifically. Yes, its code is not open, like Electrum, for example, but the Trust Wallet interface is perfect. Let's not consider it an advantage that it has something to do with Binance, it's nonsense. But a Trust can store a huge amount of coins, while you can stake Ethereum! You only need 0.025 eth and you will get 3.7 per annum.

GeorgeJohn

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Quote from: Yorubek on January 08, 2024, 09:22:25 AM

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

It's not encouraging to use same wallet to accumulate or accommodate your coins, because its advisable to not bag all your eggs with one basket, instead you make a separation and it's necessary, so therefore I will like us to know that if I should choose a bitcoin I will choose Electrum wallet so that my bitcoin will be conserved, but I can use exchange that is reputable for my altcoins knowing the fluctuations of altcoins in the market

Many became confused because of the kind of wallet there are to use for storage of their bitcoin for long-term and also their altcoin for long time, so therefore it is good for someone to investigate properly before storing it bitcoin for a particular wallet so that during the process of long holding or Bitcoin nothing will happen to it nobody will penetrate to such wallet that is why it is advisable to use Electrum

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Quote from: jrrsparkles on January 23, 2024, 12:20:34 PM

I will say Electrum is more suitable for a newbie due to its popularity and simple UI/UX. But choose your bitcoin wallet based on multiple factors via: Choose your Bitcoin wallet

For altcoins, you can refer replies from Open source multi crypto wallets!

Your wallet must provide private keys/seedphrases and it should be open source.

Electrum is one of the best wallets for bitcoin. but I would advice a newbie to use a wallet which supports bitcoin and altcoins both. Coinomi, or Trustwallet these two would be perfect fit for OP.. while it is not a problem for him to use multiple wallets but as you said a newbie. then it is better to stick with one wallet until you gain some experience in crypto.
Coinomi and trustwallet both are non custodial. BTW. coinomi works on an electrum seed too. so it should be good for OP.

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If you just want to choose a suitable wallet for storing bitcoins, I support Electron and Mycelium as software wallets. But since you want to hold Altcoin then you can use trust wallet but password must be stored very securely. Trust wallets are usually encoded with 12 words, so they are very difficult to hack, but you can be at risk if you store passwords in an insecure manner. Mycelium and Electrum wallets will be more secure than trust wallets.

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Quote from: Yorubek on January 08, 2024, 09:22:25 AM

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

Many wallets have been provided by forum members; these are the wallets you can use to save your bitcoin, but in order to prevent being hacked, you must exercise caution when holding bitcoin. Although wallets are safe, they can still be compromised if you neglect to protect them or hide your secret key. Therefore, saving bitcoin involves more than just having a reliable wallet; it also entails being able to hold your wallet without falling victim to fraud. I'm sure you've heard of many people who have complained about being hacked. These people were hacked because the hackers obtained their private key and gained access to their wallet. Therefore, my advice to you is to keep your private key secure and never share it with anyone. If you don't, you will likely become a victim of cyberattack, and once that happens, there's probably nothing you can do to recover your bitcoin. So, be cautious and wise when handling bitcoin, and never give out your phone number or any other system you use to anyone.

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Quote from: Tipeform$ on January 29, 2024, 06:18:52 PM

As a newbie you can definitely use Trust Wallet. Trust Wallet is a really good wallet to hold your altcoins and bitcoins. I myself am using this trust wallet as a newbie. This trust wallet is unlikely to be hacked if you don't give your seed phrase to anyone.

Trust wallet may be a good wallet for you to hodl your altcoins, but don't use trust wallet to hodl both your altcoins and your Bitcoins, because it is not a good Bitcoin wallet and you have many good wallet options to choose from.

Quote from: God bless u on January 29, 2024, 02:20:30 PM

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.

Stop giving advice to people on matters such as this. An exchange is not a place to keep your assets, it is a place for you to trade your assets. Exchanges are custodial platforms and if you leave your assets in their platform, then they own the coins and not you, if the exchange gets hacked you lose all your assets, if they suspect you of anything, they'll seize your assets too. Make sure to only use wallets that you control to store your assets.

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Quote from: Yorubek on January 08, 2024, 09:22:25 AM

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

All the wallets you have heard about as a newbie are very good not only new users but also many senior persons are using these wallets. But out of this I will suggest you to use trust wallet. Trust Wallet is very security complete and has many conveniences to use. As a newbie you can accept trust wallet very easily. But my suggestion for you is don't share your wallet seed phrase with anyone if you share your wallet seed phrase with anyone then you can't use your wallet securely. Can hack your wallet anytime.

Tipeform$

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Quote from: Yorubek on January 08, 2024, 09:22:25 AM

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

As a newbie you can definitely use Trust Wallet. Trust Wallet is a really good wallet to hold your altcoins and bitcoins. I myself am using this trust wallet as a newbie. This trust wallet is unlikely to be hacked if you don't give your seed phrase to anyone. I have not heard of anyone hacking this trust wallet so far but those who have been hacked have been hacked through their own abuse. However you can safely use trust wallet I think you won't have any problem.

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Quote from: Ever-young on January 29, 2024, 10:36:33 AM

Quote from: leonair on January 10, 2024, 09:45:43 AM

Trust Wallet is a Non Custodial wallet but is it not much safer. if you want your best security for your asset specially for bitcoin then. you can use electrum wallet. which is very secure. But if you want to deposit a small amount of assets and know how to receive different types of tokens there, you can use Trust Wallet. Because you can support all types of blockchain tokens in Trust Wallet. It is token friendly.

Even for smaller amount of coins I’m still very much against that having different kind of crypto both Bitcoin and other crypto on the same wallet because if the wallet is affected by any form of hack as a result of airdrop or any form of activities that can result to stolen of funds everything in that wallet will be affected.

I do recommend same bitcoin wallet that you do and Metamask wallet for Altcoins so that bitcoin can be on separate wallets why Altcoin on other wallets, you don’t need to connect bitcoin wallet to any dapp as as result of claiming anything such is not common on bitcoin.

Based on my understanding, the Trust wallet is just an easy-to-use wallet, and when security is the major concern it shouldn't be considered as an option. A friend once sent me USDT using the wallet and the USDT was sent to another wallet. He had to complain to the Trust wallet team before he could get the USDT back.
For a secure and easy-to-use Bitcoin wallet SPV wallet (Electrum is an example) is always considered the best option but for multi-currency, I like the Unstoppable cryptocurrency wallet.

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If you want to store your cryptocurrencies in the most secure wallet available today, definitely use a hardware wallet. Because the hardware wallet will be completely offline which no one else can access and your assets will be safe. And if you are a new Bitcoin user then you can start with Electrum Wallet.

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Quote from: Yorubek on January 08, 2024, 09:22:25 AM

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.
It's work very well and no one can move your money.The best thing about it is the authentication that you do any transfer then authentication code will receive to Google authenticator, your money can go out through it. When you have it, no one can take your money out. There is another way to not to get your money out. If you have installed it, no one can hack your account.

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