Bitcoin Forum

Question is so simple to say but not so easy to be cleared by a noob like me.
I have to setup my first BTC wallet.
I can't store 243 GB of blockchain.
So which is actually the most secure wallet that works without forcing me to download the blockchain?

If you want to have a working Bitcoin wallet out-of-the-box then consider downloading Electrum from the official website (https://electrum.org/#download) and veryfing it (https://bitcoinelectrum.com/how-to-verify-your-electrum-download/). Repeat these steps every time a new update is released. Electrum is a light client which offers a lot useful features such as bumping a transaction with a higher fee and coin control. You will be given 12 words which will be needed for the wallet recovery in the future. Don't lose them, don't share them with anyone and don't write them down on your computer.

It is a local wallet? So it can't be controlled by companies or possibilities to froze funds until KYC approvation?

If you are looking for secured wallet these wallets below are recommended.

Hardware wallets(Best wallet by rankings)
#1 Ledger nano = Official website from here https://www.ledger.com/
#2 Trezor = Official website from here https://trezor.io/
#3 keepkey = Website where you can buy this wallet here https://shapeshift.io/keepkey/
#4 Bitbox = You can buy this wallet from here https://shiftcrypto.ch/

Desktop wallet:

- Wasabi wallet (https://wasabiwallet.io/)
- Electrum wallet (https://electrum.org/#home)

Take note about Electrum make sure to download the wallet directly from electrum.org domain.

Mobile wallet

- Mycelium
- Electrum
- Coinomi
- Bread wallet

For most secured wallet go for hard wallet you don't need to download the whole blockchain.

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Electrum has no KYC and it is not controlled by companies no one can froze or freeze your wallet except you who know about the seed phrase and private keys.

How with Electrum is possible to use every feature without downloading the blockchain?
Is it stored on "a" server? If the server go offline I can't use my wallet?
I think this is the final doubt cause you guys make great this community thanks to your detailed replies.

This will only happen if you keep funds on an Exchange, such as Coinbase (or its custodial Wallet).

Custodial wallets aren't really a wallet, it is an exchange that keep your funds. They can enforce KYC or anything else, as they are the true owners of your bitcoins, as they hodl the private keys.


You will be safe with the wallets suggested by BitMaxz. Just note down the Seed (12-24 words), because that seed contains your private keys.


Because it is a light weight wallet (SPV). It doesn`t download all transactions in history, just the ones related to your funds.

SPV wallets check balances using explorers such as blockchain.com. Just paste your public address there (used to receive funds) and you can see all its past transactions.

AFAIK, there is no risky of this to happen. If Electrum ever stop working, you can just import your SEED (that words i said) into any other wallet and you will have your bitcoins.

Electrum connects to external servers which are only used for looking up the transaction history and broadcasting transactions.


No, you wallet file is stored locally and no one should be able to access it. There are many servers, so you should be always able to connect to one of them. If you couldn't for some reason then you can always sign a transaction locally and broadcast it manually.

I love you guys.
I opt for Electrum.
In the future I'll consider buy an hardware solution.

Thank you for your availability!

Don't forget to download it directly to the real URL or domain which is https://electrum.org/ because there are many fake websites promoting fake Electrum wallet.

I would like you to be aware of fake electrum websites from this thread ⚠⚠️⚠~Beware on active phishing Electrum websites~⚠⚠️⚠ (Collection list updated) (https://bitcointalk.org/index.php?topic=5126880.0)

And also guide on How to verify Electrum (for Windows, Linux and Mac) (https://bitcointalk.org/index.php?topic=5105901.0)

Why not try Wasabi it is another best option with coinjoin. it is just like the same as Electrum but it only support segwit wallet..

Just verified using this (https://bitzuma.com/posts/how-to-verify-an-electrum-download-on-windows/) guide reached from the official site.
Thank you!   :D

Which wallet I should chose?

https://i.postimg.cc/wxhwbKyq/screenshot-41.png

If your only limitation is blockchain storage, but no problem with downloading, you can also consider Bitcoin Core in "prune" mode.
You can choose how much storage to use. It's available in the GUI settings, or the configuration file.

The first one: Standard wallet.
Then, when prompted to select address type, I recommend you to select "Standard" (starts with "1") for the best compatibility.

You can also make a Nested SegWit (starts with "3") wallet using an externally generated BIP39 SEED if you prefer SegWit that is compatible with "shitty" services that still doesn't support Native SegWit (starts with "bc1") addresses.

You don't gain any advantages using legacy type addresses, only disadvantages.

For maximum compatibility and lower fees one should choose nested segwit (P2WPKH nested in P2SH).
Each service recognizes these addresses, and besides lower fees transaction malleability is fixed. While this might not be a big issue for an average user, there is not a single good reason to choose legacy over nested segwit.

FTFY. It is better not to recommend anything than to recommend insecure garbage (especially Coinomi).

Some people in this forum hate coinomi because it is not open source, and because its mobile desktop version had a bug that could share seed with Google docs (something like that)

However, it is a convenient wallet, in the mobile version. There is no multicurrency wallet which is open source. Also, the Google bug with the seed never affected the mobile version.

So, imo, you can use the mobile version to hold small amounts of money, especially if you need a multicurrency wallet.

For large amounts, ledger nano and trezor are the best choices, no doubt

These sentences are contradictory. Unless OP mentions that he needs a multicurrency wallet, we should recommend the best option for Bitcoin only since we are in the Bitcoin Technical Support board.

Loque, now when you install Electrum and verify signature before that it is sure to say that you have offical wallet and you can start to use it. I hope you write down your seed (12 words), this is most important thing to do, in case you need to restore your wallet. It is also important to protect your wallet with strong password, to prevent any unauthorized use.

My advice is also that you pay extra attention to safety of your PC, install good antivirus / antimalware software, and always click Preview button before sending transaction to review all transaction details, especially the address to which you send coins (clipboard malware).

I'm still undecided if choose Segwit or Legacy.  :)

@Lucius thanks.

It depends on what you are going to do with your wallet. If you intend to hold your coins for a longer period of time then go with SegWit. Transactions made from native SegWit addresses let you save some money. However, there are still many services which don't recognize such addresses and can't send coins to them. You will be able to spend from them to any address, though. Once you select SegWit in Electrum, all of your addresses will start from bc1 instead of 1. Take a look at this discussion (https://bitcointalk.org/index.php?topic=2703648.0).

Most important thing I need is an address that can allow my customers to send me money.
Instead of withdraw with exchangers every time it can happen I'll use some btc too.

Choose Legacy then. Your customers might want to send you coins from exchanges or wallets which don't support native SegWit addresses. Alternatively, you could try getting nested SegWit addresses to work (they start from 3) which are compatible with all services and still allow you to save some money on fees. However, this will require and extra step during setup.

Did anyone ask for a multicurrency wallet here? No. Therefore, that post was pointless. Coinomi is unsafe and should not be used, convenient or not. People need to start being held liable for their recommendations.

You can have both, just make two wallets in same Electrum and name it Legacy wallet and SegWit wallet. In this way you can use SegWit and benefit from lower fees, and in case some service is not support bc1 (native SegWit) it is easy to use address from Legacy wallet.

The process of creating a new wallet in Electrum is simple, just click File -> New/Restore and make new standard wallet with the only difference in type of address.

You're welcome ;)

Samurai: Settings -> Transactions -> Check one box on/off depending on which type you want to generate next (legacy vs. bc1). Easy with both of them, but easier with Samurai as it is the same wallet.

Sorry, just correct my mistake. The bug affected the Desktop version, not the mobile one.

Googling, I'm just reading that legacy fees can go up to 140 usd circa!
Maybe I'll create two wallets but I'd start with one and see how it works.
Basically customers can't see the difference except for compatibility, but for me the difference are the fees when I'll have to make payments. If I understood well.

I'd start using the nested segwit. The nested segwit has the same fees of standard segwit? Is this tutorial valid on how to create one? https://bitcoinelectrum.com/creating-a-p2sh-segwit-wallet-with-electrum/

Generally if you have other suggestions I apreciate.

Transaction fees depend on the transaction size, the number of transactions in the mempool (awaiting confirmation) and the type of address you are using. Right now, less than $1 is enough to get a small transaction (1 input, 1 output) confirmed in the next block. It's still a lot because usually a few cents is enough, but it looks like the fees have spiked due to decreasing price. You can check the recommended fee here (https://coinb.in/#fees). 1 sat/byte is the lowest possible fee and it was enough for the past few months.


There is no need to create two wallets if you are going to use nested SegWit addresses. This tutorial is valid.

No, $140 doesn't make sense. The fees depend on how busy the network is at a given time, and how quickly you want the transaction to get confirmed.

At the peak of the last price rise (late 2017-early 2018) the network was very busy. If you were impatient then you could end up paying high fees.

Right NOW, you can have a transaction confirm quickly for 0.05$ (or less). During the busiest times the past week you may have had to pay $0.50, and it could still take a few hours to confirm. If you wanted to get a quick confirmation, $2.50 would probably do it.

There's still no standard way to sign messages with a Segwit addresses. Electrum might do it, but not Bitcoin Core.

Is a bug or what that if I click copy address nothing happens and I can't paste it somewhere...
Edit: restarting Electrum now works. :)

https://jochen-hoenicke.de/queue/#0,24h

Visit this site.
Scroll down to the chart that says "Mempool Size in MB"
Hover over it and you'll see something like this:

https://i.ibb.co/6WtfF4z/Screenshot-2019-08-14-19-30-58-996.jpg

If you want your transaction confirmed in next block, I believe you'll need to pay between the fee range where block sizes are less than 1 MB'ish. Credits to DarkStar_ and TheQuin for making me understand more about this.

If I were you, I'd definitely choose SegWit over Legacy if you're not so loving towards short addresses and can use addresses starting with 'bc1' without any problems, though there are SegWit addresses that start with a '3' as well. The only difference I believe will be the fee that you pay more in Legacy and a bit/lot less (depends on the size of transaction) in SegWit.

I just opened the segwit (3) wallet and my addresses starts with 3. :D
Thanks for the tips!

You would save a little bit more with native SegWit, but it's not worth the hassle of using two different wallets at the same time. Nested SegWit offers significant savings over legacy addresses. You should stick to it for the next few years until native SegWit becomes more popular.


This isn't much of a disadvantage in this case. I doubt that any of his customers will request a signed message.


We have already come to conclusion that in his case, nested SegWit would be the best choice.

Guys I just attempted to use my addres on BTCPay Server and... the address is invalid.  ;D
https://i.postimg.cc/28vMWbk8/screenshot-42.png

I'll forward manual payment procession anyway.  :D

Did you type in your address there? If so then you did it wrong. Open Electrum, select Wallet -> Information and copy your Master Public Key. Use the following format in the box from the provided image.


Make sure to check if addresses generated by BTCPayServer match the ones in Electrum. In Electrum, select View -> Show Addresses to access a list of 20 addresses.

Create your wallet with Bitcoin Core software, then extract your private keys and import them into Electrum, when you need to send coins.

You don't need to download the block chain to create a wallet/keys with Bitcoin Core. The moment you start the software, it assigns you a wallet.

If you are not going to spend any coins but only hodl, then you can skip the electrum part. Create, Extract, Store.

Do NOT use Electrum wallet unless you properly know how to verify the program . Electrum is the wallet that is targeted the most by malware/viruses.
Lot's of people lost their coins already like this.

This isn't just applicable for electrum, you should not use any wallet if you don't have proper knowledge about it. So electrum isn't different and you should know how to verify it before use. I know electrum attack was pretty much confusing. But I think it was lesson for others that we should not just update software from popups without verification from websites. Most of peoples using electrum because its pretty much easier. And of course everyone should verify that he is using original software.

Don't scare people and make them think that the verification process is something difficult. It literally takes a few minutes to read the guide on how to verify Electrum > https://bitcoinelectrum.com/how-to-verify-your-electrum-download/

A few minutes to download and install the needed software and another minute or two for the verification. It is worth it and once you do it the first time you get used to it and it becomes a habit. That is the whole point - verify before using.

Additionally, EVERY software needs to be verified.

Just because people don't do that, and everyone is encouraging people to verify the electrum download, it doesn't mean that you don't have to verify each software you are installing.

This is nothing related to electrum. The only way to be sure that you are installing the software created by the original developers, is to verify the signature using their PGP key. Whether electrum, wasabi, core etc..

Setup means what?

Did you generate it with vanitygen?

DID YOU MOVE 10K OR moore worth of bitcoin?

Did you use multisig or segwit or legacy?

The most secure is to setup you orwn private key, sign the transaction offline, and move the coins by broadcastin the transaction from a usb

No, the most secure setup is do more or less what you suggested, but transfer the unsigned and signed transactions via QR codes and webcams, ie. take no risk with an airgapped machine.

I think this is extremely secure:

https://glacierprotocol.org/docs/overview/

or this:

https://store.coinkite.com/store/coldcard

But might not be for everyone

I have never had of both of these before. If they are extremely secure then I am wondering why they are not so popular or mostly talked about here.
Are the wallets still new in the game?

If it's the case they i would rather stick to the popular ones that have been around for a couple of years.

I have. The first is basicaly a 78-page PDF guide: https://glacierprotocol.org/assets/glacier.pdf with some scripts. It's fine and it's not a new thing, but I don't recommend it to newbies, as the entire instructions are overly long and drawn out for newbies. But they themselves claim it's for those holding bigger amounts of money, so it's less of a problem.

Coldcard wallet also isn't an unknown piece of hardware, even if it's nowhere near as known as Trezor or Ledger wallets.

Both of these methods are extremely secure, but never ever use a protocol or method that you don't understand fully. Otherwise the risk of losing your coins is bigger than getting robbed.
I don't recommend any of those 2 methods unless you know what you are doing OR invest time to understand these methods (they are very well documented). And I recommend to only use these methods if you store a large amount of BTC (more than 20% of your total savings).

Here is what I think would fit to most users and is still very secure:

- Buying a Ledger from the official website
- Writing down your seed (24-words) and put them in an hologram sealed envelope, so you will be aware if someone took a peak at it.
- Leave a small amount of funds on the main seed and the rest of your savings behind a 6-8 word passphrase (Ledger has tutorials how to do that). So even if your seed gets compromised, your main savings would be safe.
- Store this envelope with your seed in multiple locations that you trust. If you do not have different locations that you trust, buy a password protected USB stick and store your seed on there from an airgapped machine. And put this password protected USB stick at the unsafe location (replace them every 5-10 years as they might die).
- Never store your passphrase at the same location as your main seed.

You went overboard with that one.

Personally, I opt for using blockchain's wallet as a hot wallet, I don't keep a lot of funds there always less than a 100$  and for long term storage I have electrum wallet on an unnetworked old computer, it was working fine just got old, so I no longer use it anymore, it isn't connected to the internet, I only connect it on an as-needed basis.

In that case your computer IS connected to the Internet. You can't consider your setup to be an offline setup if you connect it to the Internet from time to time. Only if it has never gone online you can truly say that it is cold storage. 

Edge Wallet probably best non-custodial mobile wallet. Full control of your keys and complete privacy.

In depth talk here on how keys are secured while keeping it simple. https://www.youtube.com/watch?v=7djc0E1ICjY

What I've used so far are Electrum for both desktop and Mobile, as well as the Bitcoin Wallet for Android.

Take the proper precautions as others have already said, on mobile try to stick to your own data, such as your own home wifi or mobile data. Avoid using public wifi when using your mobile wallets.