Bitcoin Forum

All statements are just based on what I have experience from using different kind of wallet. Hopefully, this would help you get informed and decide what wallet is worth to choose. Choosing a wallet is really an important decision on getting started in your journey with crypto investment.


Here are some points to consider when choosing a wallet:

1.   Security Application. What is the technology behind the wallet?
2.   Simplicity. Is it user friendly? Can I store multiple kind of coins?
3.   Cost. Is it free? Will the transaction fee will cost me much?
4.   Back up Feature. Is it safe against malicious software?


Open Source Technology
   Wallet should be having an open source technology, the risk for potential vulnerability can be fixed quickly since the code are allowed to be publicly viewed. Open source wallets are important; this keeps you from being tricked from malicious websites. Most well-known multi wallet like Coinomi, Exodus or Jaxx – are not Open Source. When a wallet is not open source, you cannot verify the security of your assets instead just trust that the third party has good intention. But personally, I would choose a wallet that holds the saying “Don’t Trust, Verify!”.

Simplicity
   A wallet should be user friendly, a user with no tech background could and should easily use it for sending and receiving cryptocurrency right after downloading it. A better wallet also supports large number of coins and tokens, making it suited to the needs of everyone whatever cryptocurrencies they prefer to use.

https://i.imgur.com/M5lR0mH.png
SEGWIT supported

   Segwit or Segregated Witness, is an alternative transaction format allows transaction sized to be reduced, and therefore also reduced fee and increased transaction speed. A wallet is better if segwit supported, it changes the way in which information is stored on the blockchain.


Secure Backup
A wallet should allow you to have a feature which restore a wallet without having to type in your seed – the password will be enough, and the QR code of the seed doesn’t even need to be displayed on the screen of your device. This can provide a line of defense against malicious software trying to capture the screen of your computer or smartphone.

I agree on this, wallet should really offer great security and as much as possible giving you all the control over your funds. I never heard a multiwallet that is having open source technology, the Hodler wallet is interesting.

Yes, we have to be free from trusted thrid party. We deserve a wallet that offers simplicity and security at the same time. You might consider to look at Hodler wallet in this site: https://hodler.tech/?lang=en
It is the only multi wallet having fully open source feature.

I agree on this statement, wallet should be more secured and user friendly, this is one of the best thing to considered in choosing and storing the coins and tokens, although different wallets have their own security and advantages. I still prefer web wallets like MEW rather than choosing hardware wallets, because i feel like if im gonna lose the hardware wallet, then its the end of everything.

The most important thing is security. That's crucial.
It must be user friendly, everything must be simple.
Also I like when I can store different cryptos, so multycurrency wallet is my choice;)

Yes! That is a good point, both hardware and web wallet has the advantage. There were also mobile application that has good security feature like what I am using which is HODLER wallet. The wallet gives full control over the fund Unlike well known wallets like jaxx and samurai which is not open source wallet this don't give us the total assurance that our funds are safe since there is still thrid party involve. On the other hand, MEW wallet is good but only token and not other like coins can be stored to it. Hodler is a multi wallet so user can have whatever coin he prefer even ERC20 token, this wallet offers simplicity, userfriendly feature and security at the same time.

Thanks for the info. I hope it will help a lot of newbies to choose the right wallet. But if you are careful with your private key, you can use the simple MEW. It is a great and very comfortable wallet. You can also buy a Ledger if you want to be more safe.

At the end of the day, is much more about how much crypto do you own and if it makes any sense to spend your time and money protecting it. If you hold 500 usd you don´t need anything really

Security is still important. If you hold only $500, you don't want them to be stolen

Personally im happy with coinbase for btc and myetherwallet for both eth and all other eth based tokens and both of them have been hassle free for me, i have not seen anything negative but i do think that in coming years a universal wallet that can store all the blockchains and tokens should be introduced for ease and adoption.

The most important factor when choosing a wallet is security. Then I look at ease of use and convenience. Used MEW, but it was hacked, and I was disappointed.

It goes without saying that the safest wallet is hardware wallet. It cost 100$ or less which might also expensive depending on each person view but it's better safe than sorry.

There is no denying that my etherwallet is a good wallet since it offers the ability to hold multiple kind of token making a wallet more simple and userfriendly. Though it is a multiple token wallet, it can't still hold other kind of coin which require user to have multiple kind of wallet. There were wallets like Hodler wallet that can hold multiple kind of coins and Erc20 token, this wallet could also offer same security Myether wallet can offer. Coins such as BCH, BTC, LTC and the like can be hold all at the same time, making user have the ease of using the wallet.

Everybody will agree security is the paramount, but guys,,, why is no one saying what this means? For me #1 wallet security issue is simple. It lets me use my own private keys and never stores it anywhere. Yes, this means if I lose it forever, nobody can help me. But that is the whole point of cryptocurrency is it not? I do not care for other features. Private keys is mine only.

in addition to the above mentioned ease of accessing the wallet as supported by the android application is the most supportive thing because we can see and control our assets everywhere

You dont care on other wallet features? like GUI, Fees, Active devs. You are just basically talking to one stuff.

Its a must and i do prefer on having a mobile application yet most people nowadays do have their mobile phones which even if we are away from our pc we can able
to check out our assets conveniently.

Security and accessibility, it should have 2FA for authenticity as well can be access anywhere, much better if it offers more features like as payment too.

Security for the wallet is really important, but as we know, software-based wallets are vulnerable. So most important is to use a hardware-based wallet

Those points are good to consider but we have different views on how to choose a wallet. I'd rather go with the wallet that is being use by the community and has proven its reputation on how they are good for securing and maintaining the wallet itself.

All in all its about on how they handle and improve their security after being caught something is vulnerable. In data security, its the most expensive part of the system and that's why these hardware wallets cost up to $100. I'm welcoming new wallets that can prove themselves like the one you endorsed.

I have seen an ICO project which is gymledger that is open for swap in eosex exchange wallet.

Anyway, there is a good point there in choosing a wallet. But, some of the wallets are not secure and we have some news lately about exchange wallet being hi jacked. This means that the wallets were vulnerable and I have only my belief of a secure digital wallet when it had its proven and worth it like metamask and MEW for ERC20 tokens. I am new in cryptocurrency but the wallets I have mention were really good.

Still I have to consider new wallets. I will going to conduct some research and possibly will going to try also creating a digital wallet. I think it will be worth it. 

If I choose the wallet I plan to store my crypto there for a long time. I do not want to get used to one and then choose it on another.
As much as I have
it must be a multycurrency wallet
Don't think I wanna spend $100

good information
nevertheless most of coin has only 1 official wallet (like ICX) so we have no choice
but in terms of holding top coins you should consider buying a hardware wallet tho

You cant really just easily trust any wallet nowadays. I've heard that  trust wallet was recently found out to be using a security audit by a fake company and they market themselves as open source while in reality they have just pieces of old code on github and the android version is fully closed source (they even deleted their btalk thread when it was brought up). This time, I'm now looking at the continuous of the only open source multiwallet available. They have a really great project, it is really a helpful wallet specially for us holders. You can check out their link and see for yourself if  it is worth tge try: https://hodler.tech

The project looks propitious however it will take time to gain trust from the community since choosing a wallet should be meticulously and we don't want to compromise our funds. I still choose hardware wallet over this hodler, it's not just I'm not open for new things but I prefer those credible.

Yes, their project looks really have a big chance. They just got started and making their community grow, in no time they might possibly become a well known wallet. We should really be careful on choosing, recently trust wallet was found out to be using a security audit by a fake company and they market themselves as open source. But give Hodler a try since they have real claims about their feature and see for yourself if it would be worth, it has a special feature also a hardware wallet could not offer but still can meet the security you need.

Ledger abd trezor will fit especially if we just want to store and save them for long. It will secure our assets jusr maje sure to keep it well

True, hardware wallet would always be the safest way to hold fund. I've heard that HODLER.tech will also launch their own hardware wallet with even more kind of coin available to store. Aside from their hardware wallet, I find their open source wallet software great. Since its the only fully open source wallet, I find it impressive. It assures me that I have the full control over my funds and their wallet offers features not every kind of wallet offers.

This is helpful! I've been looking for an opensource multi wallet since then. I downloaded the app and it looks great. This might be my main wallet since I have multiple coins and want it to be organized in one opensource software.

Great!in fact, Hodler wallet is the only opensource multiwallet available. I just recently used it and actually see no problem with it so far. I heard that they are planning to add more coins soon. I feel more secure using this wallet, I previously using electrum but It can only hold Bitcoin, so its good that Hodler came in.