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Author Topic: Need advice for bitcoin wallet..  (Read 4516 times)

Offline vs2014

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Re: Need advice for bitcoin wallet..
« Reply #30 on: January 13, 2024, 09:52:03 PM »
There are many good bitcoin wallets where the security level is good and your capital will be safe.
Like coinbase, zengo, ledger, Trust wallet, Electrum - Best Desktop Bitcoin Wallet
In fact, you can use any wallet, but do a little research yourself which service is most convenient.
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Re: Need advice for bitcoin wallet..
« Reply #30 on: January 13, 2024, 09:52:03 PM »

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Online Stompix

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Re: Need advice for bitcoin wallet..
« Reply #31 on: January 14, 2024, 07:24:26 AM »
Does Exodus provide a coin control feature like CPFP or RBF? Does it provide a private key or seed phrase? Another thing, is it open source? I do not want to rely on google searches.

Both, but a while ago (don't know if it's recent) the tx sent with default and no custom fees were not RBF, but I guess that also changed electrum was doing this at that time also in the mobile version, it was quite long ago and I've heard no issues about it for years, but just a head's up!

The first thing that comes up when looking for a wallet is which wallet will provide the most security. That is, in the case of choosing a wallet, we try to find a wallet that will keep our assets safe. There are many wallets from which money is easily stolen, we should stay away from those wallets.
~
You can use Electrum wallet if you don't need to make extra transactions for your bitcoins.

Really curious, how do you look for that security?
I'm serious, how does the average Joe look at a wallet and decide it's secure? He has to trust others and their reviews for that, and when you trust somebody their advice is good until a moment when shits hits the fan and it's not definitely not good anymore.
I'm also using electrum as a wallet, but do I trust it will all my funds? No!
Remember this ?
https://github.com/spesmilo/electrum-docs/blob/master/security_issues/sec_201801.rst
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Offline DabsPoorVersion

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Re: Need advice for bitcoin wallet..
« Reply #32 on: January 14, 2024, 08:07:59 AM »
Aside from Electrum, you might also try using Exodus. I currently hold Bitcoin in both Electrum and Exodus wallets. In case you plan to hold cryptocurrencies other than Bitcoin, I recommend Exodus as it offers a multi-cryptocurrency wallet with a wide range of features. Both Electrum and Exodus are user-friendly and provide adequate security measures, making them ideal for beginners.

Does Exodus provide a coin control feature like CPFP or RBF? Does it provide a private key or seed phrase? Another thing, is it open source? I do not want to rely on google searches. I am using Electrum for Bitcoin and Unstoppable for altcoins. I need a wallet that is available for mobile devices and has these key features.

I always prefer open source wallets over closed sources wallets. It should be non-custodial wallet. For now, I am using unstoppable because it's open source and available for mobile device.
Yes, when you use Exodus to transfer Bitcoin, you can enable RBF in your Exodus wallet by going to the settings and enabling the custom fees. Or if you have an unconfirmed Bitcoin transaction, there will be an additional warning to spend higher fees, and a CPFP transaction will be created.

A secret phrase will be provided after you create your wallet. You have to go to the security option and click the Backup feature. You can also secure the mobile application with a Passcode or by activating the Fingerprint protection.
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Re: Need advice for bitcoin wallet..
« Reply #33 on: January 14, 2024, 06:53:19 PM »
There are numerous options available when it comes to storing bitcoin, both free and paid. However, if you're looking to purchase a wallet for storing bitcoin, here are five excellent recommendations for you: Trezor, Coinomi, Bitcoin Gold Care, and Exodus. Each of these wallets offers its own unique advantages. Before making a purchase, take some time to carefully consider which wallet suits your needs best.
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Re: Need advice for bitcoin wallet..
« Reply #34 on: January 14, 2024, 09:52:04 PM »

Yes, when you use Exodus to transfer Bitcoin, you can enable RBF in your Exodus wallet by going to the settings and enabling the custom fees. Or if you have an unconfirmed Bitcoin transaction, there will be an additional warning to spend higher fees, and a CPFP transaction will be created.

A secret phrase will be provided after you create your wallet. You have to go to the security option and click the Backup feature. You can also secure the mobile application with a Passcode or by activating the Fingerprint protection.
One more thing I will like to add for exodus  wallet user , Avoid  the exchange feature there's been alot of report talking  about being scammed the exchange and you must know that this exchange is just a third party in partnership  with Exodus so Exodus  won't be responsible  for your lost coins
« Last Edit: January 16, 2024, 09:42:40 AM by CryptoLaila »

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Re: Need advice for bitcoin wallet..
« Reply #35 on: January 16, 2024, 10:03:09 AM »
There are many good bitcoin wallets where the security level is good and your capital will be safe.
Like coinbase, zengo, ledger, Trust wallet, Electrum - Best Desktop Bitcoin Wallet
In fact, you can use any wallet, but do a little research yourself which service is most convenient.
You can use trust wallet for mobile phones and desktop.
You can use Coinbase wallet for phones and pc
You can use electrum wallet for desktop
You can use ledger wallet as Hardware wallet
You can also use SafePal S wallet as Hardware wallet.

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Re: Need advice for bitcoin wallet..
« Reply #36 on: January 16, 2024, 01:53:45 PM »
You can use trust wallet for mobile phones and desktop.
Trust wallet is closed source, it lacks many good features too and its users also complain about bugs affecting the wallet, i would not recommend trust wallet, except the person wants to store only altcoins.
You can use Coinbase wallet for phones and pc
Take note that coinbase wallet is a closed source wallet.
You can use electrum wallet for desktop
Electrum wallet is recommended for both desktop and Android mobile devices. Other recommended wallets are BlueWallet and Sparrow. For your altcoins Unstoppable wallet is open source and recommended.
You can use ledger wallet as Hardware wallet
You can also use SafePal S wallet as Hardware wallet.
Ledger is not a recommended hardware wallet, it is closed source and they implemented a terrible feature called ledger recover which can extract customer keys and send them to third parties. Safepal is also not a recommended hardware wallet. Better alternatives to use are Passport and Trezor.
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Re: Need advice for bitcoin wallet..
« Reply #36 on: January 16, 2024, 01:53:45 PM »


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Re: Need advice for bitcoin wallet..
« Reply #37 on: January 16, 2024, 05:20:33 PM »
Yes, when you use Exodus to transfer Bitcoin, you can enable RBF in your Exodus wallet by going to the settings and enabling the custom fees. Or if you have an unconfirmed Bitcoin transaction, there will be an additional warning to spend higher fees, and a CPFP transaction will be created.

A secret phrase will be provided after you create your wallet. You have to go to the security option and click the Backup feature. You can also secure the mobile application with a Passcode or by activating the Fingerprint protection.

Thanks for the information. I think it meets most of my criteria but, It does not meet the main criteria which is about open source or closed source. I have searched for if exodus wallet is open source and found that it's a closed-source wallet software. But, still, it's better than a trust wallet. I have used trust wallet before which does not provide the RBF feature which is why we are unable to bump our Bitcoin transaction fee. Trust wallet is closed source too. For now, I am using unstoppable for alt coins but didn't moved my coins yet. I may consider using Exodus as well.
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Offline debra

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Re: Need advice for bitcoin wallet..
« Reply #38 on: January 17, 2024, 12:18:25 PM »
Use an open-source wallet like Electrum to store your bitcoin.
Yep. Electrum is a trustable wallet to store Bitcoin. It is quite safe because it has good security and we can control it ourselves.

Avoid keeping your coin in exchanges or any wallets that is in charge of controlling your coins, especially centralized exchanges that will request your personal details for KYC; take exchanges as marketplaces, buy your coins, and send them out.
I agree with you. It is better to store the Bitcoin on the private wallet like Electrum, specifically for holding a long time. Keeping the Bitcoin on CEX is too risky because we have no control of our Bitcoin. Sure, it also requires KYC procedure, it takes our private data. For people who wants to keep the Bitcoin in an anonymous way, storing the Bitcoin to CEX isn't a good idea.

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Re: Need advice for bitcoin wallet..
« Reply #39 on: January 17, 2024, 01:04:58 PM »
I am newcomer and very interested about bitcoin. I need a wallet before I am purchase some bitcoin. What is the best and most secure bitcoin wallet?

Your suggestion is very important to me
You have two options for storing your cryptocurrency. You can purchase a hardware wallet, or if you don't want to spend money, you can use either an Electrum wallet or a Trust wallet. These are trusted wallets that are recommended for new users. I have personally used both of these wallets and found them to be reliable.

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Re: Need advice for bitcoin wallet..
« Reply #40 on: January 17, 2024, 08:09:04 PM »
I am newcomer and very interested about bitcoin. I need a wallet before I am purchase some bitcoin. What is the best and most secure bitcoin wallet?

Your suggestion is very important to me
You have two options for storing your cryptocurrency. You can purchase a hardware wallet, or if you don't want to spend money, you can use either an Electrum wallet or a Trust wallet. These are trusted wallets that are recommended for new users. I have personally used both of these wallets and found them to be reliable.
A crypto wallet is must for storing cryptocurrencies. But how reliable or how good that wallet is, it can be easily estimated by the reviews of ordinary users. If a user wants to use a free crypto wallet without spending then he must stay away from hardware wallets as they are expensive while there are many software wallets which are not harmful if the user keeps his keys and phrases in a safe place.

Generally we prefer open source wallets when it comes to using crypto wallets because we can see the code ourselves. Whether there is any error or not can be detected by the users so we can say that it is relatively safe. But in case of closed source wallets a user has to rely on the developer. Any error in the code should be fixed by the developer. So I can suggest you to use open source wallets.

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Re: Need advice for bitcoin wallet..
« Reply #41 on: January 17, 2024, 08:36:55 PM »
What is the best and most secure bitcoin wallet?
Even if you are suggested the most secure bitcoin wallet and you do not take the extra security tips seriously, your bitcoins or any other coins that you decide to keep will still end up being a risk. As you choose a wallet, take not of the online and offline security tips as they are both important.

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Re: Need advice for bitcoin wallet..
« Reply #42 on: January 17, 2024, 09:21:03 PM »
What is the best and most secure bitcoin wallet?
Even if you are suggested the most secure bitcoin wallet and you do not take the extra security tips seriously, your bitcoins or any other coins that you decide to keep will still end up being a risk. As you choose a wallet, take not of the online and offline security tips as they are both important.
Exactly! If you are give the most secured wallet on the planet and you aren't security conscious then you might be prone to losing your wallet. For example, Hardware wallet are strongly secured wallet but if connected to a compromised  system  the hardware gets compromised too so, security measure should be taken in using wallets no  matter the type you are using

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Re: Need advice for bitcoin wallet..
« Reply #43 on: January 18, 2024, 07:51:10 AM »
I am newcomer and very interested about bitcoin. I need a wallet before I am purchase some bitcoin. What is the best and most secure bitcoin wallet?

Your suggestion is very important to me

If you have enough money, you can use hardware wallet. And if you have financial problem then you can use software wallet. You can use either Electrum Wallet, Mycelium Wallet among the software wallets. Among the software wallets these two wallets are the best and the security is complete which is very less likely to get hacked. But the key should be stored properly and note down on paper will be most secure. And by keeping it in a nice and safe place, you can safely use this wallet and store bitcoins for a long time.

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Re: Need advice for bitcoin wallet..
« Reply #44 on: January 18, 2024, 03:54:42 PM »
What is the best and most secure bitcoin wallet?
Even if you are suggested the most secure bitcoin wallet and you do not take the extra security tips seriously, your bitcoins or any other coins that you decide to keep will still end up being a risk. As you choose a wallet, take not of the online and offline security tips as they are both important.
Exactly! If you are give the most secured wallet on the planet and you aren't security conscious then you might be prone to losing your wallet. For example, Hardware wallet are strongly secured wallet but if connected to a compromised  system  the hardware gets compromised too so, security measure should be taken in using wallets no  matter the type you are using

You're all right, first of all it's not about the wallet type used, but the way we understand how to run a security practice with any kind of wallet that we use, if we know how to do this, we are more likely to safely use any kind of wallet because we have an understanding of what we are doing and knows how to maintain the security measures needed in using a wallet, security and privacy are very important in using a crypto wallet.

 

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