How can you choose your bitcoin wallet?

[bayu7adi]

This is the point. In fact, this is also a personal reference, perhaps also because it is related to purchasing hardware wallets which sometimes makes investors reluctant to do so. Even though that could be quite influential in the future for much safer assets.

Because online wallets tend to have higher risks than hardware wallets. Everything online will definitely be very vulnerable to various online attacks, be it hackers, scammers, malware, and so on. That's why there will be negative sides to these online wallets.

I'm sure there are several reasons why the purchase of a hardware wallet could be delayed, and as long as we can still secure BTC and the seed key generated by Electrum or BlueWallet, it is safe enough to secure our assets. Buying a USB wallet like Trezor or Ledger does offer extra security, but it also requires costs that new users will definitely have to bear.

I think using a USB wallet or what is usually called a hardware wallet is more suitable for Bitcoin owners with larger amounts because they need that extra security. For those who have a small balance or even the balance is smaller than the price of the hardware wallet, you can postpone it first and learn that the security for the software version is not bad either.

[Aanuoluwatofunmi]

Its very important that before we start any form of investment in bitcoin or cryptocurrency, we should make research about the various category of wallets we have and know how to differentiates them from one to the other, under the normal category, we can have a wallet to be either a custodial wallet or non custodial wallet, but the best to always go for are the ones which are non custodial wallet because you will have access to the private keys of such wallet.

[Z-tight]

under the normal category, we can have a wallet to be either a custodial wallet or non custodial wallet, but the best to always go for are the ones which are non custodial wallet because you will have access to the private keys of such wallet.

Yeah it is recommended to use self custodial wallets, but that is not the only criteria to check when choosing a wallet, because there are many self custodial wallets that are not recommended, i.e. Atomic wallet. You should ensure that the wallet is open source and also well reviewed, i.e. wallets like Electrum and BlueWallet.

[Litzki1990]

Its very important that before we start any form of investment in bitcoin or cryptocurrency, we should make research about the various category of wallets we have and know how to differentiates them from one to the other, under the normal category, we can have a wallet to be either a custodial wallet or non custodial wallet, but the best to always go for are the ones which are non custodial wallet because you will have access to the private keys of such wallet.

Before investing we need to be sure about the wallet first that we have selected the right wallet or how safe our invested bitcoins will be in the wallet we have selected. You put your money in a wallet but if that wallet is not good then there is a possibility of losing money from that wallet. I have invested enough bitcoins but I have selected the weakest wallet in terms of wallet selection, but we have no benefit from that investment because any other hacker can easily access our wallet and transfer bitcoins to his wallet from that wallet. So before investing we should give utmost importance to choosing the right wallet.

[Aanuoluwatofunmi]

Its very important that before we start any form of investment in bitcoin or cryptocurrency, we should make research about the various category of wallets we have and know how to differentiates them from one to the other, under the normal category, we can have a wallet to be either a custodial wallet or non custodial wallet, but the best to always go for are the ones which are non custodial wallet because you will have access to the private keys of such wallet.

Before investing we need to be sure about the wallet first that we have selected the right wallet or how safe our invested bitcoins will be in the wallet we have selected. You put your money in a wallet but if that wallet is not good then there is a possibility of losing money from that wallet. I have invested enough bitcoins but I have selected the weakest wallet in terms of wallet selection, but we have no benefit from that investment because any other hacker can easily access our wallet and transfer bitcoins to his wallet from that wallet. So before investing we should give utmost importance to choosing the right wallet.

Also, after which we might have made the right decision in choosing the best water for ourself, we should not fort=get the means to practice the safety of this wallet through the way we handles the security of such wallet, we have to understand the means to safely secure the private keys to our wallet in such a way that we are the only one to have access to them, not your keys not your coins is real.

[Z-tight]

Also, after which we might have made the right decision in choosing the best water for ourself, we should not fort=get the means to practice the safety of this wallet through the way we handles the security of such wallet, we have to understand the means to safely secure the private keys to our wallet in such a way that we are the only one to have access to them, not your keys not your coins is real.

The best way to protect your wallet is to generate the keya offline and store it in an offline machine, and that is either a hardware wallet or an airgapped wallet, as for your seed phrase, it should be backed up in more than one location. It is also great to add an extra layer of security, i.e. a passphrase, it can also help you for plausible deniability, in cases of a $5 wrench attack.

[taufik123]

The best way to protect your wallet is to generate the keya offline and store it in an offline machine, and that is either a hardware wallet or an airgapped wallet, as for your seed phrase, it should be backed up in more than one location. It is also great to add an extra layer of security, i.e. a passphrase, it can also help you for plausible deniability, in cases of a $5 wrench attack.

Storing on an Offline machine may be on a device such as a flash drive or hard drive and such, this is still in digital form.
But what is safer is to use a special steel plate that is indeed used to engrave seed phrases so that it can be stored properly for the long term.

There are many ways that can be done to do the storage of seed phrases, using a capsule tube that is resistant to all sorts of damage.
And to make backups to make sure everything is done correctly, only trusted people can find out.

[Sevi]

The best way of choosing your bitcoins wallet to make sure it is secured and safe. And always check it.

[Litzki1990]

Its very important that before we start any form of investment in bitcoin or cryptocurrency, we should make research about the various category of wallets we have and know how to differentiates them from one to the other, under the normal category, we can have a wallet to be either a custodial wallet or non custodial wallet, but the best to always go for are the ones which are non custodial wallet because you will have access to the private keys of such wallet.

Before investing we need to be sure about the wallet first that we have selected the right wallet or how safe our invested bitcoins will be in the wallet we have selected. You put your money in a wallet but if that wallet is not good then there is a possibility of losing money from that wallet. I have invested enough bitcoins but I have selected the weakest wallet in terms of wallet selection, but we have no benefit from that investment because any other hacker can easily access our wallet and transfer bitcoins to his wallet from that wallet. So before investing we should give utmost importance to choosing the right wallet.

Also, after which we might have made the right decision in choosing the best water for ourself, we should not fort=get the means to practice the safety of this wallet through the way we handles the security of such wallet, we have to understand the means to safely secure the private keys to our wallet in such a way that we are the only one to have access to them, not your keys not your coins is real.

I think you should never share your wallet private key with anyone. Suppose my wallet is empty and there are no coins or any money in my wallet, still I say even if my wallet is empty I should not share the key of that wallet with anyone else. Maybe your wallet is empty now but in the future your wallet may have enough money so if you share your wallet key with someone while empty and later you have enough money in your wallet but later share your secret key with your wallet you may get into trouble. So I think it's safest not to share your private key with anyone under any circumstances.

[tranthidung]

I think you should never share your wallet private key with anyone. Suppose my wallet is empty and there are no coins or any money in my wallet, still I say even if my wallet is empty I should not share the key of that wallet with anyone else. Maybe your wallet is empty now but in the future your wallet may have enough money

Another risk of sharing or leaking a wallet private key or mnemonic seed is perhaps in future, after creating many wallets, without any note - what wallets are used, what wallets are empty, what wallets are leaked by yourself - you will fund that wallet and who knows, that wallet will be hacked quickly.

Bad people can have automatic tool to detect any In transactions and will move it out as soon as possible.

If you are careless enough to share / leak your private key, you will be careless enough to do many things without any note.

[jeraldskie11]

Choosing the best bitcoin wallet is the most important step. I've heard of cold wallet or hot wallet. How do you choose yours?

Since cold wallet are safest one because you don't need to connect to the internet, there are several hot wallet are safe to use especially those who non custodial and open source wallet such as electrum. However, hot wallets are always prone to malicious threats. But if you just keep your device clean internally and won't connect to any random site then probably there's nothing to worry.

[bayu7adi]

Since cold wallet are safest one because you don't need to connect to the internet, there are several hot wallet are safe to use especially those who non custodial and open source wallet such as electrum. However, hot wallets are always prone to malicious threats. But if you just keep your device clean internally and won't connect to any random site then probably there's nothing to worry.

What needs to be underlined is that the process of entering viruses or other threats on a device is not just from visiting certain sites. It could be that an open flash disk from a friend or our family's flash disk could be another source of threat. Moreover, if you want to dedicate one device for cold wallet purposes without being connected to the internet, I think that's quite a high sacrifice.

There is Trezor which is more useful if you want a good layer of wallet security. We can still use the device as usual, while Trezor's function is to secure the assets stored in it.

The internet is indeed dangerous, but we must still protect devices with the strictest security even though they are not connected to the internet.

[Dr.Bitcoin_Strange]

I think you should never share your wallet private key with anyone. Suppose my wallet is empty and there are no coins or any money in my wallet, still I say even if my wallet is empty I should not share the key of that wallet with anyone else. Maybe your wallet is empty now but in the future your wallet may have enough money so if you share your wallet key with someone while empty and later you have enough money in your wallet but later share your secret key with your wallet you may get into trouble. So I think it's safest not to share your private key with anyone under any circumstances.

In my opinion, if a Bitcoiner must share share wallet phrase to any, it should be a wallet that they are fully aware that they will never make use of it in the future but if that wallet have already been used by them to carry out important transactions, then they should never share the wallet information to anyone, rather they can just discarded it without letting anyone know that the wallet belongs to them because if anyone get hold of the wallet, they can still be able to track down to the new address that is holding your Bitcoin. Privacy and security is a paramount fact or investing into Bitcoin.

[Z-tight]

Storing on an Offline machine may be on a device such as a flash drive or hard drive and such, this is still in digital form.
But what is safer is to use a special steel plate that is indeed used to engrave seed phrases so that it can be stored properly for the long term.

Steel plate is for backing up your seed phrase, it is an offline back up, just like writing it down on paper. But when i said an offline machine, i was talking about how to store your wallet file which has your keys, and it should either be in an airgapped wallet or in a hardware wallet. Take note that a flash drive is also not a bad option for offline storage, you simply have to make more than one copy of it and also have your seed phrase on paper.

[Findingnemo]

Storing on an Offline machine may be on a device such as a flash drive or hard drive and such, this is still in digital form.
But what is safer is to use a special steel plate that is indeed used to engrave seed phrases so that it can be stored properly for the long term.

Steel plate is for backing up your seed phrase, it is an offline back up, just like writing it down on paper. But when i said an offline machine, i was talking about how to store your wallet file which has your keys, and it should either be in an airgapped wallet or in a hardware wallet. Take note that a flash drive is also not a bad option for offline storage, you simply have to make more than one copy of it and also have your seed phrase on paper.

Storing seed phrases in metal sheets as engraving can be one of the backups but having it as our only backup is highly risky and I never intend to take such risks.

Tails on memory stick kind of wallet can add the security of the wallet but nothing ever comes near in terms of security as air-gapped/cold storage that is why whoever is holding a pretty good amount in crypto should opt out cold storage and don't use it very often to keep them safe from the scammers and hackers.