Bitcoin Forum

Newbies should start realizing what "wallet" means and when businesses are using the term to fool people into giving up their keys .I got the info on web today about "free wallet" freewallet  is all in one cryptocurrency wallets available on playstore for android devices that doesn't has private keys,please stay away from such wallets ,YOu ARE NOT IN TOTAL CONTROL OF YOUR FUNDS ,if anything happens to freewallet  your fund is gone.

Update: those of you mining through Minergate ,free wallet has become the only source of withdrawing from minergate ,well to me minergate sucks cos of lower hashrates ,if minergate is a must for you then make sure you withdraw your funds to another wallet with privet key after withdrawing from minergate.

It sounds trivial, but things like that are often ignored, I personally prefer the wallet issued by the coin itself or their official wallet.

That's why newbies should always stay away from unknown wallet source provider because it can only cause big problems, used only trusted wallet provider like MyEtherWallet.

Yes newbies should know that there would be wallets in some projects or sites that are suspiscious and not legit, maybe it we log in to their websites with our personal datas, maybe it can be steal so we ahould be aware of that.

Yep, newbies actually don't know exactly how these apps work, so they often fall into these traps and lose their money.

Some trusted wallets:
MyEtherWallet
Coinbase
Blockchain
Ledger
And I think that is enough for all cryptocurrencies

Most of free wallets are not giving the features that makes you able to take your privatekey. And then put anything on the wallet that gives you ability to take your privatekey.
Freewallet is untrusted wallet that means it's not a scam but it can't be trusted.

Hello

Many financial services choose not to share private keys with individual wallet addresses.

May we know the reason which made you post this thread? Are you having an issue with our service?

Freewallet is aimed at providing the long-term and trustful service. A lot of crypto enthusiasts are investing their time and efforts helping us to elaborate one of the best solutions in the industry. We were the first mobile wallet launched the BCH mobile app.

If there is no particular reason for your sharp thread, we may interpret it as pure defamation.

You've just said it yourself ,we need our freedom ,for example I use copay wallet ,with my key I can open my wallet on bitpay or coinomi wallet or jaxx wallet ,I have total control, try this and you will have millions of users

You can also connect your hardware wallet to your myetherwallet for extra security better than storing private keys and json file.

metamask is also good for newbies since it blocks harmful websites like phishing websites.

The problem with private keys is now very common. Newbies do not know how to safely store their private key. and the wallets which do not need private key  - this is a scam i think

To be honest, they will gradually learn how to store their assets safely, just need time and experience. If we give them examples, they might be able to understand, but if they have never made a mistake or carelessness, then they will not be able to study well. Tell what to tell and let them explore how cruel the crypto world is

the important thing is to be careful in entering the exchanger to avoid phishing because when we will withdraw or deposit, we must enter the private key, if it's phishing then we will definitely lose. to be safer, bookmarking the original site is not phishing.

For those bitcoin related wallet, use only these:

https://bitcoin.org/en/choose-your-wallet

Blockchain.com isn't on the list but I'm also using that wallet. For altcoin related wallets, there's lite wallets from the coin developers itself and hardware wallets who have plenty of alts to support.

it means the meaning of a wallet, I prefer a wallet that has a private key, not an email or password, with private there is no control from anyone except myself and safer than e-mail using passwords

Yes newbies should stay away from any wallet requesting to login using email and password because they are online wallets with no private keys ,if anything happens to that particular company kiss your coins goodbye ,paper wallets which are offline and wallets with passphrase or private keys are the best

Yes, you are absolutely right. Cryptocurrency now represents a very tasty morsel for various scammers who want to profit at someone else's expense. And they are very creative and we need to be very careful with our wallets. Especially in this regard, newcomers will suffer and this will cause great damage to the advancement of cryptocurrency. Only a private secret key can save us from fraud and abuse, and not always.

wow, this is a fact alot of people would have ignored the basics
but thanks for the timely reminder. And while you get an etherum account with private keys amongst others, do ensure to avoid phishing links that could endanger the safety of the accounts.
Face the facts and bookmark myetherwallet.com or use metamask for chrome browser or mozilla browser.

Just heard that kind of wallets, so it will be dangerous because we can't claim our money back if something happen, but me even use private key, i never use android wallet and trust my own wallet on PC.

Yes, that's true, many newbies are victims of scam wallets. They should learn a lot about the risks of crypto investing. A scam wallet is also a risk of storing crypto assets so they have to find out about a wallet that is safe to use.

Unfortunately freewallet is first result when searching for eos/ethereum wallets, many newbies fall prey to it.

I am pretty sure sooner or later freewallet will run away.

I cringe when I think about free wallet, they were one of the first I used when I was a newbie. Valid point OP, also alot of others that posted in this thread. My first advice to someone starting out is take a day or more and do research on anything before diving in. If you don't you could learn the hard way, it's okay if you do but it could cost you financially to learn that lesson.

Agree, there are no strong feature that can guarantee safe assets inside. like certain feature that can be used tool to as access to the wallet.

Note: can't be trusted not a scam.

many new traders and new investors who don't know the security of the wallet they are using are actually very dangerous, so there must be more accurate information about the problem of the cryptocurrency wallet so that newbies traders can safely store their assets.

We must worry, remember hacking often occurs.Even decentralized exchanges or DEX, do not escape from hacking targets.So I think, it is possible, wallet services like that, will one day be targeted by hacking

Yeah! You have a point but there are some which still remain trustworthy. Actually I consider myself using a so called "free wallet" but my experience was good so far. What I'm using is the most trusted and oldest running local crypto wallet (as far as I know) here in our country so I have no worries for issues about losing money.

When choosing a wallet, don't look only on whether it is "free wallet" or not, look also for its ratings, years of operation and feedback from its other users.

private key is a very important thing for the wallet, so don't even give your information to anyone because it can be fatal, while with you not giving it, you can still fill our wallet, because of our careless and inadvertent mistakes.
learn all the problems of this wallet so that it is not harmed.

Newbies should always do their own research before choosing a wallet and dont just download it because it may also contains a malware that will be able to pull up any sensitive information on your device. It would be better if they search about the wallet users feedback, how responsive their customer support and how long this wallet exist. The wallets i am using was Coinomi, Jaxx, Exodus, MEW and Metamask.

We are pretty sure that the time of our presence on the market will exceed your expectations. We are aimed at providing long-term and comfortable service.

my favorite wallet is for android that of eidoo, as software wallet exodus, even myetherwallet is not bad taking the necessary precautions

Since every project planning to have is own wallet will have a straight link that will lead to where to download it, and if it to be etherum myetherwallet and metamask is the best wallet. The rest is left to the owner how carefully he's about it so as not to lose it to scamers

You should also be very careful with the project that creates universal services. A wallet, investment package, crypto exchange or exchanger is conveniently linked, but this can be fatal to all the cryptocurrency of the user who trusts such a service.

I believe that you need to trust the proven wallets that have been used for several years and have never been attacked by hackers.

sometimes you need to trust good services like Freewallet. They deliver a nice app and allot of features. Its the same as a bank if a bank or your country goes bankrupt you loose your money to

Nice advice, I prefer to use the official wallets and reputable hardware wallets. Other than the mobile wallet, I would like to add exchange wallets to the list. We have no control over wallets in exchanges and shouldn’t be using the wallets to store our coins for the long term.

I think that there is a certain list of wallets that are trustworthy, although they are also hacked, so if you are new to the world of cryptocurrencies, then you should be very careful.

I strongly agree with you, too many scam project and wallets out there looking for people to devour, MyEtherWallet is a good wallet that recommends and their security is ok.

When I was a newbie, I first of all found out what types of wallets exist and which one is safer. On youtube a lot of video reviews on this topic. I'd add that there is nothing safer than storing a wallet.dat on flash drive and a private key on paper.

Many has lost their asset due to wrong use of wallet,we need to be mindful of the wallet we are using to store our asset,make sure you are having control over your private key.

Well, not giving users their private keys is another thing to increase security, not all of them understand how to use it and just to get 5$ from the upcoming fork some of them transfer the fund to a random wallet that claimed its support. I don’t find this a good idea, the private keys should be given to those only who understand how to use them and when you should not do so. Cold storage is basically keeping safe the money of those who is just new to the crypto and takes off a chunk or responsibility from the users. I personally store part of my coins in a Cold Storage wallet and never had issues with it.

It is better to use top-end, internal wallets have many vulnerabilities about which you may not know, and they may disappear along with the coin.

if you have tokens under ethereum  blockchain you have to use myetherwallet or any other trusted wallets.. you have controlled on everything

All people should somehow learn about wallets and what kind of wallet to use, only wallets where you can back up private keys or passphrase are good because only then you own the crypto and can always be recovered with private keys.

Keeping wallets private keys or wallet mnemonics phrase is very important. Is unfortunate that scammers are using skills to scam newbies of their fund by luring them to fill fake airdrop forms. Everybody should be very careful of the forms they fill.

Indeed, this is the most important step in securing your wallet from loss or anything, but most importantly, don't easily trust anyone and any site because the network can be controlled by someone to hack the computer or cellphone you are using, I suggest storing phrases offline recovery so it's not easily accessed by scammers.

As the name goes, private key which means it's yours and gives you power to control your funds, in the absence of this then the user isn't in control. Thanks for bringing up this post and wish it will help most newbies out there to make better decisions. When money is involved, one needs to be extra careful.

Don't download wallets that you are not familiar. Chances of being hacked is high any amount that you deposit is likely to go to the devs.

It's not about being hacked, but about the platform's team control your private keys. With that access, they can do anything with  your wallet including run your money away. I have seen some bounty hunters do this, they submitted private keys instead of their address in the applications form  ;D ;D ;D

This is what must be considered by people who have just entered the crypto world. Because they sometimes easily give private keys that should not be given to anyone. And I want to remind you too, in the future also avoid if there are suspicious links. Because of that you can also cause losses to your wallet.

This is a great advice for both newbie and non newbies because that's is your bank account , that us why you have to be careful in order not to loose all what you have work for.

It's the easiest term that others can understand that's why I used the term hack. Because someone is able to control your funds and gain access from your wallet.

A friend's wallet was hacked sometime last year through one dubious and clever way. I can't go for any wallet other than Imtoken or myetherwallet. Though no wallet is to rally free from hack, these two has proven trustworthy to an extent.

Frankly speaking always have the wallet which will work across window,android, chrome or ios may be it might be tricky for first time user. If you want you can use web wallets which is controlled by third party but you can get some good platforms in the market for this so choose according to your preference.You can keep the majority of your coins in hardware wallet and some smaller amounts you can keep it in web wallet.

We should only use secure and reputable wallet platforms, such as trustwallet, myether, blockchain, ... or store your money at trading platforms such as binance, houbi, ... The platform is secured. Besides, private key, 2FA is always safe. Do not use dangerous, unsafe, or non-originated wallets.

If one is not currently using a specific wallet but just keeping it at the exchange, should it be refreshed?

Right timing for this topic to be bumped. So there's this another wallet (Satowallet) suspected for exit scam. Fund withdrawal has been a struggle for users since April and developers have been coming up with multiple excuses such as "technical issues". Find more at https://medium.com/altcoin-magazine/altcoin-news-nigerian-crypto-wallet-is-suspected-of-exit-scam-d328f97270dc

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Don't use exchange wallets as storage please. If you have some funds, buy a hardware wallet and store your assets there instead. If you don't have, there are still so many free mobile and web crypto wallets that are non-custodial. Meaning, no one else can control your funds except you. But be careful because there are also fake online wallets out there.