Bitcoin Forum

how to choose a more secured wallet ??
is the secure of the wallet depending on transaction fees ??

No. The security of a wallet is NOT depending on the transaction fees.. It is depending on how the wallet stores/manages the private keys.


There are multiple types of wallets (from most secured to least secured):

• Cold wallet storage / Paper wallet:
  Private keys stored on an offline computer NEVER connected to the internet and only used for sensitive things (transaction signing)
  Very inconvenient, but also very secure
  
  
• Hardware wallet:
  Physical device. Private keys stored in an isolated offline environment. Can be plugged in into computers and used safely without the fear of private keys getting leaked.
  Easy to use and very secure. But costs 70$+
  
  
• Desktop wallet:
  Software wallet on your desktop. Should be open-source and private keys / wallet file should be encrypted.
  Easy to use and only as secure as your computer is
  
  
• Mobile wallet:
  The mobile equivalent to a desktop wallet. Can be a bit more or less secure. This depends on multiple factors
  
  
• Web wallet:
  Definitely the least secured wallet. Your private keys are stored on a server. Not recommended.
  
  
• Exchange / 3rd party site:
  Can not be considered a 'wallet'. 3rd party has full access to your money. Should be avoided.
  
  

The fees doesn't have something to do with the security. As a user we also have the responsibility to keep our wallets safe on how we are keeping our private keys or seeds.

With the mentioned comparison, you can choose those types of wallets on https://bitcoin.org/en/choose-your-wallet

I would avoid to use exchange as a wallet, you can store dust amounts that you are trading there but don't be too confident keeping all of your assets there.

It's easy mate. You can use a hardware wallet to store your coins. Hardware wallets are most secured in the crypto world. The only thing with any kind of wallet, please keep safe your private keys. If you don't like to spend money on a hardware wallet, you can go with a desktop wallet.

No. It has nothing to do with transaction fees.

Also, I suggest reading:

• [General] Bitcoin Wallets - Which, what, why? https://bitcointalk.org/index.php?topic=1631151.0
• Bitcoin & Cryptocurrency Wallets and it’s Risks https://cryptosec.info/guides/cryptocurrency-wallets/

to hopefully give you a good grasp on what the kinds of wallets there are, and each of their pros and cons.

Security of wallets are generally the same. With minor difference the best security in wallet is YOU.
Learn about security, about internet/computers in general. It will help secure your wallet for sure.

If you are concerned about the safety of your coins just buy a hardware wallet and transfer your coins to it. I use a Ledger Nano S, which I can recommend 100%, very easy to use and most of the bigger exchanges support it out of the box.

I would argue that the difference of security between web wallets and just about every other kind is pretty significant, just because the former store your private keys online. This generally means your coins are always at risk, no matter what precautions you take.

But yeah, going off bob123's list, I personally wouldn't use anything below desktop wallets.

Just always make sure that you know how to protect your  device for any malware and viruses and you are safe to save your bitcoin in your own device.

There is no 100% that your crypto is safe to any wallet even a hardware wallet I am sure in the future someone could discover a new software or script that can manipulate the security of hardware wallet just like what happen to trezor before if you can remember.

So for me if you want for your wallet become secured and safe you must use Bitcoin core wallet and use antivirus to protect your pc from any malware and viruses.

you've gotten a lot of information here already but I'll just link a thread I wrote related mostly to ethereum but the concept applies to all:
https://bitcointalk.org/index.php?topic=3576100

No, pal, transaction fees is nothing to secure your wallet. Actually, you need to have a basic knowledge of PC and internet security system for keeping safe your wallet. You may use a hardware wallet which can help you out of this situation but whatever you use just use it carefully.

which one is the best wallet in these all wallets , which one provides high security ?? 
i just want to know about high secured wallet ..

For newbies, hardware wallet is the best and most secure choice.

A paperwallet or an airgapped pc are definitely safe Wallets if you know what you are doing.

As you probably don't know exactly how to do them, just buy a hardware wallet, it's worth.

Mobile and desktop are somewhat aafe and if you keep your seeds in a piece of paper offline, you are ok.

Honestly you should be able to figure out the answer to that question if you actually read bob123's reply.

Anyway, if you're not knowledgeable on how to properly create a paper wallet, then purchasing a hardware wallet(preferrably a Ledger Nano S[1] or a Trezor[2]) would be best.

---

[1] https://ledger.com/
[2] https://trezor.io/

how and where can i purchase the hardware wallet ??
is that more secure than other wallets ???

Check the thread above yours...

You can buy the Ledger Nano S:

Or the Trezor:

---

Did you even read any of the replies to your thread?

'Wallet securing' its one of the vital question for crypto holders. If you are worried about your assets and money safety you need to learn internet/ website and basic computer security system at the same you must collect a hardware wallet that could help you out in this case. And hardware wallet will not be a solution if you put your phrase code online, better to write them on a paper wallet.

Just an important reminder on the purchase of hardware wallet, make sure you are buying from the official site or from it's authorised reseller, make sure it is listed on their website. buying from the authorised reseller in your country/city is comparatively cheaper and more convenient.

No need to think much bro just go for hardware wallet which is the best secure wallet ever in the crypto world you can buy Ledger Nano S or trezor both is enough good for providing the best security for your assets and private keys. But hardware wallets a little bit costly but best wallets no doubt.

Just to emphasize that purchasing a hardware wallet should indeed be done through the seller’s official site and/or authorized resellers (you need to be verify that they are before making the purchase). Just this week, Trezor released an important note (see [PSA] Non-genuine Trezor One devices spotted. Be careful, buy only from Trezor Shop or authorized resellers (https://blog.trezor.io/psa-non-genuine-trezor-devices-979b64e359a7)), stating that they had detected near to exact copies of their Trezor one on the market (the watermark on the box seems to be a minor difference, and that's about it).

If you happen to purchase a copy (it could happen if you buy it from sites such as eBay or AliExpress), your private keys could already be inadvertedly in the hands of the person/company that made the copies…

Anyone having the private keys can spend the Bitcoins associated with your wallet irrespective of your permission. Hence, it is recommended to hold Bitcoins in the secure offline wallet. I believe that hardware wallet and paper wallet is user-friendly as well as moderately secure methods of storing funds. If anyone other than you has access to your wallet then it is not secure at all. Fees and other aspects have nothing to do with it.

I used in past paper wallet, but after i get hardware wallet, i only use hardware wallet to store and hold coins and i think is most secure and i not have any problem with. For daily use i use mycelium on mobile phone and electrum on PC.

Yes, this is the most important thing! And also, check out the official Ledger site! Due to their black friday deals, you can save 50% on Ledger Nano S, I recommend buying one (bought one myself too), it will not get any cheaper from this anytime soon.

the transaction fee doesn't related to the secure of the wallet. the secure of the wallet depends on your choice. I suggest that you should choose hardware wallet.

If someone gains access to your internet banking, you can easily revert all the damage they did by calling your bank.

This is not the case with crypto currencies. So a higher level of security is definitely needed.

You should not store amounts you are not willing to lose on a machine which is connected to the internet (no web wallet, mobile wallet, desktop wallet).
For higher amounts use either a hardware wallet, paper wallet or an air-gapped storage on a dedicated device.


Also, don't forget one of the most important things: Common sense.
I believe more people lose their coins trough scams and shady 'investments' than trough malware.

No, you're wrong. The secure of the wallet don't depend on transaction fee. Transaction can affect to the the security system.

No buddy secure of the wallet doesn't depend on transaction fees. There are various types of wallets in the market but the best secure wallet is none other than hardware wallet which can provide you the best security for wallet safety but it is a little bit costly but the best performer.

The most secure wallet is hardwallets! There is no secure wallet except them. A hardware wallet doesn't cost a high amount of money, so, I think you should buy a hardware to live a safe crypto life. Though Myetherwallet is making some big changes to secure their wallet very much, hardware wallets always the boss. By buying a hardware wallet, you can store more than 500 crypto coins!


No, it doesn't.

Secure wallet depends on you how much you conscious to save your private key. Transaction depends on the transaction network. To get secure wallet you must store your private key in a safe place, you could choose hardware wallets like as Ledger Nano S or X.

Hardware wallet. Best combination of security and convenience. Just make sure you buy direct from the manufacturer.

There are few types of wallet but among them hardware wallet is more safe than any other wallet. And secured wallet doesn't depend on transaction fees.

No it isn't. In crypto, you are your own bank. You can't just use the precautions that your bank imposes on you eg. 2FA and translate that into the crypto world.

Since you are now the bank, you need to decide how to protect your own funds.

Example: storing of recovery seeds. If you misplace the pin to your banking accounts in traditional banking environments, no problemo, just call the help desk to assist you.

This help desk does not exist in the crypto world. What do you then need to do? You need to make backups of your seed yourself. You also assume responsibility for deciding where to store them (basement, bank vault, friends house) and a whole host of other stuff.

As crypto wallet is our own bank we should make secure on our own way as we cant take help from others like physical bank. We should make it secure as much as possible and also we should keep track all the required information without any error. If we miss something then we may loss all of our fund.

Hi bellington, we wrote a guide on cryptocurrency wallet security (https://whotookmycrypto.com/secure-cryptocurrency-wallet/). Hope this helps you out and do let us know if you have any comments. Thanks.

This could be useful for those who are confused on how to have a cryptocurrency wallet security and if it is really reliable.

It is a good article for the newcomer on cryptocurrency market and also I want to say it is same helpful to old people too as it is helpful to new comer on crypto market.

the original question in the thread is not quite clear.
is it maybe not even a question? :P

in any case, there have already been many helpful tips here and you can only advise anyone to be careful in the crypto environment always and everywhere.

You have not got any question? Their is two good question , I can see. First of all OP asked about secure wallet and then OP tried to know either secure wallet depends on transaction fee or something else.

it depends on what device for example. if you  are using online wallet, its similiar security. if you are using mobile wallets for smartphone it will be less secure and of course desktop wallets could be most secure but could be also vulnerable, depends on user

no, transaction fee is measure of how quick your transaction will be processed in Bitcoin network

We cover the easy/free/secure wallets for newbies

https://www.bestbitcoinbuyers.com/wallets/

These would all be approved by the bitcoin core team obviously and have been used by thousands of bitcoiners for years.

Then there are the more costly hardware wallets for those with more than a few dollars to secure on a device that costs $$$

Either is fine to use but for first timers it's super annoying trying to figure out how to just get bitcoin into a wallet and how it works to not lose it.

You cover for newbie of their wallet to make/keep secure so what will be others? What is the speciality of you? Why it is only for newbie? Why not for other, is there any specific reason behind it?

The best wallets in my opinion are the paper wallet and the hardware wallet.
This is because they are completely irresistible to hacking attempt unless your private keys are compromised which should be   stored safely in a cold storage.

I think this is already said at the very first reply on this thread.

ANy wallet which has private keys are completely secured only if you know how to keep those private keys safely.

Have to disagree. Paper wallets are unsafe.

https://en.bitcoin.it/wiki/Paper_wallet

The process users go through to generate the private keys for paper wallets exposes it to so many attack vectors. Eg. you have to print it out, but your printer has memory that may store your private keys even after printing. Unless you are an information security expert, don't bother with paper wallets.

No. With a properly written walk-through anybody can safely make paper wallets. If you are afraid of printer hacks you can reboot your printer, or print something else afterwards or simply write down the private key from your screen with a pen (yes, I know it's error-prone, but it's OK at least for sake of example...).

Also you are greatly exaggerating. Your example is as good as telling the cars are unsafe because some idiots drive them blindfolded (https://www.google.com/search?hl=en&q=bird+box+car+accident).



Like the others, I also advise paper wallets as being on almost the same safety level as hardware wallets. (Airgapped cold wallets are safer though.)

Would you mind pointing to one such properly written walk-through?

Don't feel that the example given was an exaggeration. There are many other issues with paper wallets that were mentioned in the wiki.

For those intending to use paper wallets, suggest you read this thread first.
https://twitter.com/aantonop/status/978279050438299650?lang=en

I think that this would be pretty good(*, **) https://99bitcoins.com/bitcoin-wallet/paper-wallet/ and it's the first result Google has returned.
You have to scroll down to part 3. Creating a paper wallet (advanced method, ultra secure)

(*) I think it doesn't mention about rebooting the printer or printing something else afterwards (or both), but on the other hand I didn't hear yet of any malware stealing paper wallets from printer's memory either (it may be too much effort and the results would be weak)
(**) I think it doesn't also mention about wiping that USB stick either, but that is an obvious, common sense move

Disclaimer: while I did use paper wallets, I've never was extreme about their security (not so big funds), so I didn't actually do all the steps myself.

I don't believe the assertion that the security of a wallet can be determine by the transaction fees because the transaction fees are just charged when ever one is carrying out transaction on the wallet and it goes to the Miner's but if you can use a wallet that requires a second level security authentication it better and secured using such wallet.

as many stated above i confirm that transaction fee has nothing to do here, your best bet is hardware wallet, most secure but most expensive, i recommend here software wallets or online wallets
keep in mind you need to be able to secure enviroment with your software wallet

Nope, it's not depend on transaction fees. My recommendation is electrum for desktop wallet, blockchain for online bitcoin wallet and myetherwallet for altcoins wallet or you can buy trezor to stored your coins for more safety.

For hotwallet, choose wallet with good reputation and history. For large amount cyprto asset, use hardware wallet. Open source are better but not necessary.

Never use a new wallet with less than 2 year operation history, let other people do the testing for you:)

not at all, there are wallets that let's you hold private keys yet they are close source which is actually risky to hold funds. there are this so called 'back doors' in which any IT expert can be able to perform this.

Points that you need to focus while buying an wallet are:

• User Interface
• Physical Design
• Security
• Focus on "Expansibility"
• Back-up and Recovery
• After-sales support

https://coinswitch.co/news/trezor-wallet-review-2019-know-all-pros-and-cons

What they will do? Brute forcing the private keys is almost impossible right.

Back door meaning giving another party access to your keys which in combination with a keylogger of some sort can be deadly. I think that is what he meant. 

Think what he is saying is that the code itself has backdoors that allow bitcoin to be stolen. Example: https://arstechnica.com/information-technology/2018/11/hacker-backdoors-widely-used-open-source-software-to-steal-bitcoin/

You could argue that close sourced is more risky. But open source also means that scammers have full access to the code and can readily identify vulnerabilities. This is one reason why Ledger does not open source all parts of its architecture.