Hello guys. I just joined this forum and i was wondering... Which walled is best? Can you recommend me some, and tell me your opinion and why you think it is best choice?
Depends on your usecase...
Do you want to buy and HODL, i'd suggest a properly generated paper wallet or a hardware wallet
Do you want to buy a lot of BTC, but use them for day-to-day transactions, i'd suggest a hardware wallet like the ledger or trezor
Do you want to start using BTC, but won't invest a lot of fiat into crypto, you can go for a decent desktop wallet, like bitcoin core or electrum. Core is a bit safer (since you verify all blocks and transactions yourself), but it requires a lot of diskspace and sync time. Electrum is an SPV wallet, it requires very little hardware requirements and only takes a couple of seconds/minutes to sync.
Do you want to get robbed? Go for an online wallet or an exchange... In the longrun, that's your best option to lose everything.
So many useful information... I am using some online exchangers to do the transactions, but I don't want to be robbed. Would you like to recommend some better exchangers? And do you know why bittex, bitfinex, binance and other exchangers stop new user registration ?
i'm not a real trader... Sure i do exchange some alt's from time to time, but it's not like i do this for a living... So i might not be the best person to suggest the "best" exchanges.
I wasn't aware that a lot of exchanges stopped registration... I do know i got some of my accounts blocked untill i provide identification information (but since i never keep any BTC stored on an exchange, i will not provide any information and just stop using those exchanges).
There might be a couple of reasons for them to stop accepting new members and kicking old members: stricter KYC regulations, the huge price swings, backlog in maintenance or tickets or just plain old greed (if they use a loophole to kick account holders, they *might* have found a semi-legal way to rob their own users)
If you don't want to get robbed, you must understand that when you keep your money on any online wallet or exchange, you're putting yourself at risk.
By chosing a licenced exchange, using unique passwords, enabling 2FA, keep on checking the websites certificates and never click any links in emails, you might minimise your risk... But even then, your risk is waaay higher than when you use an encrypted desktop wallet on a clean pc (with backups)... And if you switch to a hardware wallet, a paper wallet or an airgapped wallet, you can reduce the risk even further.
The main problem with exchanges and online wallets is the fact that you're not the only one in controll of your private keys. In many cases, you're not able to access the private keys at all. This means that if the exchange runs away, gets hacked, goes bancrupt: you lose everything.
Other than that, online wallets and exchanges are far more vulnerable to phising, hacking, brute forcing,... compared to other wallets.
So by storing your BTC online, you expose yourself to multiple risks that simply don't exist when you use a decent wallet.
