Bitcoin Forum

Today i just researched about the wallets for Bitcoin, I thought it will be usefull for new comers who don't know much about the wallets ,  that's why posting here . There are a few kinds of wallets out there . It is prudent to know these classes with the goal that you generally pick one that suits you. Those are-

SHORTLISTED:

HOT Wallet and COLD Wallet :
All wallets are named either hot or cold . One that is associated with the web or is online is said to be 'hot'. Then again, 'Cold' suggests it is disconnected or detached from the web. 'Cold Wallet  is viewed as the most secure, accordingly, prescribed for putting away a lot of bitcoins. 'Hot' is appropriate for every now and again got to stores. In this way, the best system is to utilize cool stockpiling for long haul possessions and a hot wallet for normal utilize.

Dekstop Wallet (OS Apllication):
These wallets are mainly a software or application which run on specific application. They are intended to be downloaded and utilized on PCs . They are anything but difficult to access and utilize notwithstanding when the PC isn't associated with the web.  They are accessible for various working frameworks – Windows, Mac OS and Ubuntu. Armory is the most suggested work area wallet, particularly because of its security highlights. Others are Multibit, mSIGNA etc.

   Armory : https://www.bitcoinarmory.com/
   MultiBit: https://multibit.org/
   mSigna : https://ciphrex.com

Mobile Application Based Wallets:
We utilize Mobile for most assignments nowadays and bitcoin wallets custom fitted for your Smartphone is in this manner exceptionally advantageous. Mycelium and Blockchain are both accessible on Android and IOS. Maybe, a standout amongst the most convenient highlights on portable wallets, aside from upgraded security highlights, is the QR code ability. It empowers moment installments.

   MyCelium: https://mycelium.com/
   Block Chain : https://blockchain.info/wallet/iphone-app  (iPhone)

Web Wallets:
These are given on the cloud by outsider wallet benefit organizations. The wallets on these stages are just open through a web association. Coinbase and Circle are some of such specialist organizations. Bitgo is trusted by organizations for its vault benefits that incorporate co-sign to bolt accounts.

   Coinbase : https://www.coinbase.com/?r=50bfb056112d6ea246000326
   Circle: https://www.circle.com/en
   Bitgo: https://www.bitgo.com/

Paper Wallets :
Many wallets offers the paper version of it's wallet .  Paper wallets can securely hold your bitcoins in cold storage form for a long time. You can store this form of wallet it in a safety deposit box along with your other valuables.

Bitcoin Clients:
These are the first bitcoin wallets utilized by the pioneers of the money. PCs introduced with these wallets frame some portion of the center system and consequently approach all exchanges on the blockchain. BitcoinQt, was the first ever built bitcoin client wallet. Many believe it is what Satoshi Nakamoto used. With it, you play a role in the overall state of the network. Another with richer features is Electrum, a lightweight client.

   Electrum : https://electrum.org/#download

Hardware Wallets:
Trezor and Ledger HW.1 are quickly becoming popular as portable physical vaults. They are incredibly small devices. They are secure for storage, sending and receiving transactions online.
   Trezor : https://trezor.io/
   Ledger : https://www.ledgerwallet.com/

I use mainly Mobile Wallets and Hardware Wallets. What you use ?

I use mobile phone wallet names Samurai as my hot wallet and other is located on my multiple paper wallets. For altcoins HOT wallet I use coinomi (not open source, but I guess I can trust the devs), but it doesn't support all alts but again mostly paper wallets.

Which wallet is the safest?

If you ask me which is the safest , i would say go for

I would suggest Electrum. It supports segwit, and is very safe. Armory & Bitcoincore work as well of course, but you have to download the whole blockchain. Or you can get a trezor of course.

There already exists at least two threads talking about bitcoin wallets in detail.
[GUIDE] Bitcoin Wallets - What's the best for you? (https://bitcointalk.org/index.php?topic=2219544.msg22393985#msg22393985)   
[General] Bitcoin Wallets - Which, what, why?
 (https://bitcointalk.org/index.php?topic=1631151.0)Sorry to say but you could have put your time in something more valuable.

Opps thats awesome post , full of information.

You obviously didn't research very well... ::)

- The website you've listed for Armory is the wrong one... You're directing users to and old/outdated website carrying an old/outdated version of the wallet. The NEW website is: https://btcarmory.com/

- Armory is a wallet for "expert"/experience Bitcoin users. It requires a Bitcoin Core Full Node and can be very complicated/problematic to get running correctly. Recommending it to "new comers who don't know much about the wallets" is a "Bad Idea"™. Also, saying it is the "most suggested" wallet is probably wrong. I'd guess that Electrum would probably be the most recommended wallet.

- MultitBit is old, outdated, full of bugs and is NO LONGER SUPPORTED/DEVELOPED (was dropped in July 2017) - https://multibit.org/blog/2017/07/26/multibit-shutdown.html

Recommending this to new users is BAD! :-\

- mSigna: really? for new users? ??? Just no.


In my opinion, Bitcoin Core (for a full node) or Electrum (for lightweight wallet).

Personally i felt these wallets are not out dated except multibit . You are posting your opinion. I am using those and they are still doing fine.


Hey new users or old users these are not too old . I have used electrum , but personally i don't like it. Don't just force to use something which users may not like. New or old security concern is the vital thing. The only one is MultiBit is controversial. But Armory is great.

I didn't say Armory or mSigna was too old... I said the website he linked to for Armory was old and outdated. It is carrying an outdated version of the wallet which does not work with the current versions of Bitcoin Core...

Go read the Armory subforum (https://bitcointalk.org/index.php?board=97.0)... aside from having links to the newest version, it is full of threads of people who have started with the old version because they used the old website, and had a lot of trouble because of it. Armory is NOT for newbies and/or technically challenged people.

As far as security goes, Armory is great if used correctly with an offline air-gapped computer setup. "Goatpig" & co are doing a great job on the development side keeping it alive. However, it is a technically advanced wallet and REQUIRES that you run a full node (all 170+ Gigs of blockchain)... not exactly new user friendly.

FYI, I used Armory before migrating to a hardware wallet.