Topic: Which wallet should a beginner choose? (Read 424 times)
I am paper wallet guy these days. Yes I have invested in the hardware wallet and it’s entirely different story for me when it comes to keeping safe and carrying it around or making sure that physical wallet is safe and sound. I am not sure what would be your impression on this but I would suggest to buy any of the mentioned wallets above the only stuff is you have to handle it careful. Imagine hardware wallet like a pen drive and we all know what happens to them and how they get lost all the time. No I am not putting you down from buying it but just make sure you are ready for that. Well, I have taught myself that paper wallets are even way better than this and you could keep bitcoin safer in them.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
Hey fellas just took a glance at OP's post history and it seems he doesn't give any damn shit for the threads he created so this isn't really a valid question so stop bothering you by replying to this spammers.
@OP if you don't really have the intention of coming back to the threads you created then just don't create anything further.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
Since you are a beginner here I would suggest you not to buy a hardware wallet in the first place. You can use Electrum wallet in the first instance. Electrum wallet firstly you collect phase offline then you account online then your account is very safe. This electron wallet to collect your btc is very security complete and safe. I myself use this Electrum wallet so I don't think you need to buy a hardware wallet with money. Plan to buy a hardware wallet later when you can earn from it. I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
As someone who has only ever used Ledger Nano X, I can recommend you to use this wallet. Its biggest advantages are that it is very easy to use, proven in its sector and works in sync with its mobile application. It is also my preferred wallet as it supports many cryptocurrencies and NFT's. When we look at the product price, we can see that it is 149 on a unit basis, depending on the currency of the country you live in. So, to state my own opinion, I think it would be a pretty good option within your budget.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
Given that this hardware wallet costs less than $200, I believe ledger is what you're searching for. All of your assets should be kept in this location because it is quite secure, especially if you have significant financial investments. However, I wouldn't advise using a ledger if all you plan to do is store a tiny amount of cryptocurrency. You can store it in any number of secure software wallets. It's best to keep it there because I've been using Electrum wallet for a while and haven't had any problems with it. Instead of purchasing a hardware wallet, I believe it is more practical to add your $200 to a coin or token in which you already have invested.
As newbie in crypto, it's important to start with a wallet that is user-friendly, secure, and doesn't cost too much. There are two main types of wallets - hardware wallets and software wallets. Generally, hardware wallets is physical devices that store your cryptocurrency offline, making them more secure. Software wallets are apps or programs that you can install on your computer or smartphone. For a beginner, a software wallet might be more suitable due to its ease of use and lower cost.
Make sure to choose a wallet with good security features, such as two-factor authentication (2FA), and a strong backup and recovery process. This will help protect your funds in case something goes wrong. Check if the wallet supports the cryptocurrencies you're interested in trading. Some wallets only support a limited number of coins, so it's essential to choose one that meets your needs.
Make sure to choose a wallet with good security features, such as two-factor authentication (2FA), and a strong backup and recovery process. This will help protect your funds in case something goes wrong. Check if the wallet supports the cryptocurrencies you're interested in trading. Some wallets only support a limited number of coins, so it's essential to choose one that meets your needs.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
You've been trying to think of the important things in doing things with Bitcoin.There are already more than a few people recommending to you which wallet you should buy at an affordable price with the aim of helping you.
Once you find a suitable wallet, put it to good use even if the hardware wallet you choose has good security.
Hardware wallets are great for large, long-term storage.
For less asset storage, software wallets like Electrum can still be used as storage although using a hardware wallet to store provides a lot of convenience that doesn't require much work to be done.
When it comes to wallets you need to be extra careful as a trader I think our funds keep moving so obviously we don't need cold storage and also to get started this is not necessary to have a Hardware cold storage wallet. We can go with some Open source decentralized hot wallet if we want to trade on DeXs but if you are trading on the CEX I think Binance exchange offers ann n in-built Hot wallet for funds transfer by following a few prerequisites you can securely store your funds.
In general, I think that it is very important for a beginner to take the time to learn first. At least when I started working with a broker from Amarkets, I tried to devote maximum time to this particular issue. But the issue of wallet reliability should not be overlooked either, the results of the work also depend on it.
There is no need to mention it but many newbies knows this already because how will they know to operate a crypto wallet or to get started with crypto if they don't start at the very beginning which is the learning part?The more we allocate time and make things seriously when it comes to learning, the more we become successful. Things that can come in our way will now became easy to understand. Results of our work depend on our knowledge and not in the wallet that we are using but it is important to pick up a wallet that is reliable at all times. I guess our fellow members named those wallets already. The OP can just pick one or two of them.
I decided to buy a wallet and try to make money on the crypt.
There are good and easy to use Bitcoin wallets that you can get for free online, why waste money paying for one when you're still finding your way in this industry. Try Electrum wallet (someone already supplied the link above). It's free and on Android Playstore. See if your interest in Bitcoin remains high before doing further investment on wallet purchase. BTW, what did the person who introduced this forum to you tell you regarding this or you stumbled on this forum without a mentor like me too? 
A beginner should first understand how much amount he wants to invest and for how many days he wants to hold it. If the amount is small then I don't think it makes sense to waste money on buying a hardware wallet. But if the investment amount is a bit big then it is better to buy hardware in that case. However, only $50 is available to buy a hardware wallet. Such as Sefpal, Ledger or Trezor.
Safepal is a close source wallet, it is cheap to buy, but it is one of the wallets I can not tell anyone to buy when there are good ones. It is better to buy a better wallet like Passport or Trezor. But if you want to invest less amount then in that case you can use non-custodial wallet in the beginning it will also give security to your investment.
Hardware wallets are noncustodial wallets, just like noncustodial online wallets, only the difference between them is that the private key of hardware wallet is not created online and not online, unlike online wallets.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
As a beginner, I assume you are still learning to understand the concept of crypto. So maybe I wouldn't suggest buying a wallet but instead using an existing wallet. You can even look it up yourself.That's the least you can do to learn to store your crypto assets because, as a beginner, you need time to start buying and transferring the assets you buy on exchanges. And if your focus is only on Bitcoin, you can use Bitcoin Core to store Bitcoin. And if you start buying altcoins, I think you can store those altcoin assets in a wallet that supports altcoins. Don't rush into buying a hardware wallet if you don't understand how to store crypto assets for the long term.
Buying wallet will just be a waste of resources since since he is new for sure he will just buy few tokens to test out his crypto investments and instead thinking about buying those hardware wallet better to use it to add this on his capital. There are current wallets available and I think newbie friendly and he could choose electrum or coinomi for BTC wallet also metamask for ERC tokens storing. Although there's risk for using this but he just need to be more careful upon executing transaction or pasting his private key on any platform.a
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
Buy this wallethttps://shop.ledger.com/pages/ledger-nano-x
I have about 14 applications and half of the wallet memory is occupied, and about 100 applications, which the wallet manufacturer says, this is a strong exaggeration. But you can trade on a computer and phone. I have not regretted buying this model after several years of use.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
Ledger or Trezor.These are the most common hardware wallets that you can choose from. You'll have no problem with their reputation because if someone is mentioning about hardware wallets, these two will always be in front of the talks.
Your $200 is already more than enough and you can even have both of it.
What government surveillance and control are you talking about? If now trezor hardware wallet is considered a very bad choice, then it’s not even clear which wallet is considered a good one.
They have partnered with Wasabi, who pay the blockchain analysis company Coinfirm to surveil their users. Trezor have not been a great choice since their unfixable seed extraction vulnerability was discovered, but given that they are now pro-surveillance and pro-censorship I don't think anyone should ever buy a Trezor device again.The best hardware wallet on the market right now in my opinion is a Passport.
Are they stupid? I don't know because I don't know what is their reason to build that service and put customer coins at risk.
Bitcoin Q&A: Why is Seed Splitting a Bad Idea?
Do they build something better like Shamir Secret Sharing ?
A beginner guide to Shamir Secret Sharing
I will not buy a hardware wallet with my money and face with risk to lose my coins because the seed is shared to three entities.
Ledger created that in a way that Ledger users that opt-in for it will not be able to lose their coins even if they lose their seed phrase. It is making use of Shamir secret sharing, in a way each company has the seed phrase shard or so which can be combined and be used to recover the seed phrase. But this can make the seed phrase security to be vulnerable and also giving way to the government to have more control. I will not tell anyone to use it because it is bad in my opinion. There is nothing better than having your seed phrase backups offline. Bitcoin Q&A: Why is Seed Splitting a Bad Idea?
Do they build something better like Shamir Secret Sharing ?
A beginner guide to Shamir Secret Sharing
I will not buy a hardware wallet with my money and face with risk to lose my coins because the seed is shared to three entities.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
Well, there have been many talks about avoiding using Ledger Hardware wallet, because they are going to release a new update of Ledger Recover, which could help you to extract your Seed phrase if you have lost it, Its is a paid service by them and currently not released only the news making so much fire. You should checkout the following Threads if you planned to buy Ledger. - Never, ever, buy your hardware wallet from a third-party
- Ledger hardware wallet offering custody for seed backups
- Where do you buy a hardware wallet - online or offline?
Secondly, You could go for any other wallet such as Trezor or for Electrum (you have to integrate Electrum into the Hardware wallet). So, if you are a newbie and have less knowledge then I don't prefer you to use it. (but you can easily handle the Hot wallet of Electrum).
Tips*
1. Do not fall prey to phishing scams and buy a wallet that costs you less.
2. If you have big pile of BTC then i prefer you to use Hardware wallets otherwise you can save your money by storing your BTC on different exchanges or hot wallets (i know exchanges are not a good option but for some it is) so it's up to you.
3. Always check whether the wallet you are going to use is open source or close source. --> experts used to say open source are better.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
Your decision to buy a crypto wallet is a very good one and it will prove very beneficial to you. Well there are plenty of crypto wallets but I think if you want a good wallet at a low price then safepal can be a great choice.I bought this wallet myself and I am very satisfied with it. There are other crypto wallets but their prices are higher than this wallet, for example you can get ledger nano x but its price is much higher than its price.
It can be a good option for you due to good security and low cost.One thing to keep in mind is that never buy it from the online application but buy it through its official website,because scammer are everywhere they can cheat you through online application.
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
As a beginner, I assume you are still learning to understand the concept of crypto. So maybe I wouldn't suggest buying a wallet but instead using an existing wallet. You can even look it up yourself.That's the least you can do to learn to store your crypto assets because, as a beginner, you need time to start buying and transferring the assets you buy on exchanges. And if your focus is only on Bitcoin, you can use Bitcoin Core to store Bitcoin. And if you start buying altcoins, I think you can store those altcoin assets in a wallet that supports altcoins. Don't rush into buying a hardware wallet if you don't understand how to store crypto assets for the long term.
Buying wallet will just be a waste of resources since since he is new for sure he will just buy few tokens to test out his crypto investments and instead thinking about buying those hardware wallet better to use it to add this on his capital. There are current wallets available and I think newbie friendly and he could choose electrum or coinomi for BTC wallet also metamask for ERC tokens storing. Although there's risk for using this but he just need to be more careful upon executing transaction or pasting his private key on any platform.a
I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.
As a beginner, I assume you are still learning to understand the concept of crypto. So maybe I wouldn't suggest buying a wallet but instead using an existing wallet. You can even look it up yourself.That's the least you can do to learn to store your crypto assets because, as a beginner, you need time to start buying and transferring the assets you buy on exchanges. And if your focus is only on Bitcoin, you can use Bitcoin Core to store Bitcoin. And if you start buying altcoins, I think you can store those altcoin assets in a wallet that supports altcoins. Don't rush into buying a hardware wallet if you don't understand how to store crypto assets for the long term.
You have to exclude Ledger because it is one of the worst wallets that you can buy right now. If you want to know why, you can read this two topics:
@theymos - Time to update the current Ledger situaion @ Important Announcements?
Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
Read the second topic which is the most important and can be seen on the first topic. Ledger is becoming stupider day by day.
Are they stupid? I don't know because I don't know what is their reason to build that service and put customer coins at risk.@theymos - Time to update the current Ledger situaion @ Important Announcements?
Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
Read the second topic which is the most important and can be seen on the first topic. Ledger is becoming stupider day by day.
Bitcoin Q&A: Why is Seed Splitting a Bad Idea?
Do they build something better like Shamir Secret Sharing ?
A beginner guide to Shamir Secret Sharing
I will not buy a hardware wallet with my money and face with risk to lose my coins because the seed is shared to three entities.
A beginner should first understand how much amount he wants to invest and for how many days he wants to hold it. If the amount is small then I don't think it makes sense to waste money on buying a hardware wallet. But if the investment amount is a bit big then it is better to buy hardware in that case. However, only $50 is available to buy a hardware wallet. Such as Sefpal, Ledger or Trezor.
Safepal is a close source wallet, it is cheap to buy, but it is one of the wallets I can not tell anyone to buy when there are good ones. It is better to buy a better wallet like Passport or Trezor. Ledger Nano is not good too.
https://bitcointalksearch.org/topic/m.62251240
If you care about your seed phrase and private keys, if you care about your privacy, if you care about how your wallet is generating and storing seed phrase, do not use any Ledger lab wallet.
But if you want to invest less amount then in that case you can use non-custodial wallet in the beginning it will also give security to your investment.
Hardware wallets are noncustodial wallets, just like noncustodial online wallets, only the difference between them is that the private key of hardware wallet is not created online and not online, unlike online wallets. Jump to: