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Title: New to bitcoin! Best wallet to use? Post by: HammerJackHammer on November 22, 2020, 03:25:43 AM What's the best bitcoin wallet? (In your opinion)
Why's that? Tip: I can't use a hardware wallet currently, no money. I just need to know the best wallet (convenience, security, low fees, sigwit feature (low fees) etc. Everybody is right in his own way. I'm just looking for opinions. Title: Re: New to bitcoin! Best wallet to use? Post by: ryzaadit on November 22, 2020, 03:33:26 AM You can try to use "Electrum"
- Easy to instal. - Software wallets. - Segwit feature. - You can set up your own fee, so find a suitable fee for your self. - No need to download a whole block. So, because of that electrum will be always one of the options every bitcoiners use for their wallets. Becarefull, always check the signature before download the software wallets to verify you are downloading from the official source not a phising. Title: Re: New to bitcoin! Best wallet to use? Post by: mk4 on November 22, 2020, 03:39:25 AM If you have a smartphone(who doesn't?), my best suggestion would probably be BlueWallet[1]. As usual, just don't do something stupid like saving your 12-24 word backup on a text file and such. Just write down the backup words on a piece of paper and you're good.
Also, if you're really new, take a look at: https://NotYourKeys.org/ [1] https://bluewallet.io/ Title: Re: New to bitcoin! Best wallet to use? Post by: OcTradism on November 22, 2020, 03:40:40 AM You can try to use "Electrum" You forgot that Electrum has Lightning and users can customize options in Preferences then Lightning tab.- Easy to instal. - Software wallets. - Segwit feature. - You can set up your own fee, so find a suitable fee for your self. - No need to download a whole block. So, because of that electrum will be always one of the options every bitcoiners use for their wallets. Becarefull, always check the signature before download the software wallets to verify you are downloading from the official source not a phising. Link to download Electrum (can get link for Android app and I emphasize to avoid search for Electrum on Google Play): https://electrum.org/#download How to Safely Download and Verify Electrum [Guide] (https://bitcointalk.org/index.php?topic=5240594.msg54223763#msg54223763) Officially visit websites & download apps, not fake ones. (https://bitcointalk.org/index.php?topic=5259689.msg54725580#msg54725580) With Android app, click on About and check those details to make sure the app is not a phishing one. - Developers: Thomas Voegtlin SomberNight - Distributed by Electrum Technologies GmbH. Title: Re: New to bitcoin! Best wallet to use? Post by: HammerJackHammer on November 22, 2020, 03:46:56 AM You can try to use "Electrum" Hey, thanks! I understood the phising part, I'll always check if the website is www.electrum.org or a fake one.- Easy to instal. - Software wallets. - Segwit feature. - You can set up your own fee, so find a suitable fee for your self. - No need to download a whole block. So, because of that electrum will be always one of the options every bitcoiners use for their wallets. Becarefull, always check the signature before download the software wallets to verify you are downloading from the official source not a phising. Could you tell me more about the last point? What's a signature? And how to verify it? Title: Re: New to bitcoin! Best wallet to use? Post by: ryzaadit on November 22, 2020, 04:02:29 AM What's a signature? And how to verify it? A digital signature used to be a mark or certified message, data or file for preventing the data could be manipulated by someone else so you are really sure got the message or data from the sender who makes the message or owner file, not someone else.You can see the thread has been mention from @OcTradism there has some steep how to verify the signature from Electrum. Title: Re: New to bitcoin! Best wallet to use? Post by: Peanutswar on November 22, 2020, 04:11:35 AM For me, I highly recommended the use of the electrum its easier to configure also it's better if you store your seed on tangible things such as paper and make a duplicate as much as you want to keep it secure and still have a copy on it, not in the cloud.
Just go to https://electrum.org/#download https://i.imgur.com/JrtD210.png Choose your Operating System (OS) if you are a window user click windows installer. Also, they have an application if you don't want just click the link on their google play. ~ What's a signature? And how to verify it? This is the window installer signature. How to find it? Back on the image above and click the signature. Code: -----BEGIN PGP SIGNATURE----- If you want to sign a message you can try this https://bitcointalk.org/index.php?topic=990345.0#post_electrum198 Title: Re: New to bitcoin! Best wallet to use? Post by: HammerJackHammer on November 22, 2020, 04:35:23 AM Thank you so much guys. Turns out my computer (windows vista 32bit) isn't supported anymore and can't run electrum. Unfortunately I'll have to stick to online exchanges, which is the best in your opinion? (low fees, good convenience, sigwit, security etc). Title: Re: New to bitcoin! Best wallet to use? Post by: Maus0728 on November 22, 2020, 04:50:29 AM Turns out my computer (windows vista 32bit) isn't supported anymore and can't run electrum. Wait? Did you mean storing your bitcoin to an a centralised exchange? Though it isn't a bad idea if you are using it as a temporary place to store your bitcoin for day to day spending or for daytrading. However, it would be the worst idea if you are planning it for storing bitcoin for HODLing puposes.If you do not have any functional desktop, why not install a non-custodial wallet like bluewallet or Electrum in your smartphone instead of directly jumping into an exchange? [1] https://play.google.com/store/apps/details?id=org.electrum.electrum [2] https://bluewallet.io/ As per @mk4, the link below will explain why keeping your bitcoin to a centralised exchange is a terrible idea. [3] https://NotYourKeys.org/ Title: Re: New to bitcoin! Best wallet to use? Post by: HabBear on November 22, 2020, 06:08:49 AM Hey Friend, welcome to our world!
There's a lot of smart people here, listen to them, consider their opinion, make your own decision based on what you need. Here's a site that will help you narrow down your choices based on what you need --- Choose your wallet! (https://bitcoin.org/en/choose-your-wallet) Some of the things you need to consider:
The list goes on. Try a few wallets out, you'll start to find something that works for you. Good luck you! Title: Re: New to bitcoin! Best wallet to use? Post by: joniboini on November 22, 2020, 06:17:54 AM Turns out my computer (windows vista 32bit) isn't supported anymore and can't run electrum. Exchanges are not wallets. You don't actually own your bitcoin if you store it there. Why not spend more money to buy new hardware or upgrade to a newer version of Windows? Or buy a USB and install a live Tails OS for managing your crypto? That is way better than trusting exchanges. Unfortunately I'll have to stick to online exchanges, which is the best in your opinion? (low fees, good convenience, sigwit, security etc). Title: Re: New to bitcoin! Best wallet to use? Post by: Maus0728 on November 22, 2020, 07:31:51 AM Turns out my computer (windows vista 32bit) isn't supported anymore and can't run electrum. Exchanges are not wallets. You don't actually own your bitcoin if you store it there. Why not spend more money to buy new hardware or upgrade to a newer version of Windows? Or buy a USB and install a live Tails OS for managing your crypto? That is way better than trusting exchanges. Unfortunately I'll have to stick to online exchanges, which is the best in your opinion? (low fees, good convenience, sigwit, security etc). [1] How to Install Tails OS on USB flash drive for Wallet Purpose (https://bitcointalk.org/index.php?topic=5228801.0) Title: Re: New to bitcoin! Best wallet to use? Post by: virasog on November 22, 2020, 07:52:41 AM What's the best bitcoin wallet? (In your opinion) Why's that? Tip: I can't use a hardware wallet currently, no money. I just need to know the best wallet (convenience, security, low fees, sigwit feature (low fees) etc. Everybody is right in his own way. I'm just looking for opinions. Sine you have no money for hardware wallet, it means you also do not possess much bitcoins. You can use coinbase which is an online wallet. Meanwhile as you gather bitcoin try to upgrade your computer so that desktop wallet can be installed on it which is more secure than online wallets. Unfortunately I'll have to stick to online exchanges, which is the best in your opinion? (low fees, good convenience, sigwit, security etc). Title: Re: New to bitcoin! Best wallet to use? Post by: ice18 on November 22, 2020, 09:50:47 AM Turns out my computer (windows vista 32bit) isn't supported anymore and can't run electrum. Online exchanges are not advisable as a wallet for long term hodl it would be very risky, if your pc cannot support any desktop wallet then you have no choice but to use trusted online wallet which you can control private keys or seed phrases this website offers bitcoin and altcoins wallet that can be exported you own private key/seed you can try this one https://www.blockchain.com/ Unfortunately I'll have to stick to online exchanges, which is the best in your opinion? (low fees, good convenience, sigwit, security etc). Title: Re: New to bitcoin! Best wallet to use? Post by: Husna QA on November 22, 2020, 12:39:37 PM Turns out my computer (windows vista 32bit) isn't supported anymore and can't run electrum. -snip- I advise you to upgrade the OS you are using because Microsoft no longer provides Windows Vista security update support.As of April 11, 2017, Windows Vista customers are no longer receiving new security updates, non-security hotfixes, free or paid assisted support options, or online technical content updates from Microsoft. If you still don't want to switch to a new OS, use an updated Antivirus/Anti Malware.FYI, You can still use Electrum 3.3.8 on Windows Vista 32 bit (https://download.electrum.org/3.3.8/) -DWYOR- Quote from: casper; https://github.com/spesmilo/electrum/issues/4370#issuecomment-557773005 I managed to get it to work on Vista SP2 32-bit. It took me a full day to finally figure out the right combination. However it's easy to do, once you know how. These instructions are for Electrum 3.3.8, with Python 3.6.1. Step 1: Install Anaconda Python Anaconda3-4.3.0-Windows-x86.exe. You need to install an archived version, because this will give you a version of PyQt that is compatible with Vista. This was the biggest issue - trying to find a Python + PyQt combination that works on Vista, and with Electrum. Direct download link: https://repo.anaconda.com/archive/Anaconda3-4.3.0-Windows-x86.exe Archive repository: https://repo.anaconda.com/archive/ Step 2: Once installed, launch "Anaconda Prompt (Anaconda3)" from the Windows start menu. Step 3: The installed Anaconda version runs Python 3.6.0, but Electrum needs 3.6.1. Upgrade by typing: Code: conda install python=3.6.1 Step 4: Download Electrum-3.3.8.zip and extract. https://download.electrum.org/3.3.8/Electrum-3.3.8.zip Step 5: In the Anaconda DOS prompt you opened in step 2, cd to the Electrum folder, and then type: Code: python run_electrum Enjoy your working Electrum on Vista. Title: Re: New to bitcoin! Best wallet to use? Post by: clifjw on November 22, 2020, 12:51:19 PM You forgot that Electrum has Lightning and users can customize options in Preferences then Lightning tab. I started with Electrum for Android the other day. I selected to setup a 'legacy' wallet rather than a 'SegWit'. Does that have any bearing on using Lightning in my mobile Electrum? Or not linked? As I created a 'legacy' wallet for maximum compatibility, is there any benefit in setting up another wallet that uses SegWit or is it no worth it for a software wallet that's only going to be used for minimal BTC? I will be ordering a Ledger this week for main HODL cold storage. To OP... I can say Electrum is a very nice starter wallet. Nice and clean. Title: Re: New to bitcoin! Best wallet to use? Post by: Nirado on November 22, 2020, 07:41:57 PM On Smartphone Jaxx is good and multy-platform and for PC i like Exodus
Title: Re: New to bitcoin! Best wallet to use? Post by: khaled0111 on November 22, 2020, 10:18:17 PM I started with Electrum for Android the other day. I selected to setup a 'legacy' wallet rather than a 'SegWit'. Does that have any bearing on using Lightning in my mobile Electrum? Or not linked? No, I believe it's ok and you can use LN and create channels even if you have a legacy wallet.Quote As I created a 'legacy' wallet for maximum compatibility, is there any benefit in setting up another wallet that uses SegWit or is it no worth it for a software wallet that's only going to be used for minimal BTC? By using Segwit you will pay less fees as you can save up up to ~35% on fees per transaction and you will help the network overall since more sgwit transaction can fit in the bitcoin block.Most services support bc1 addresses, so this is not really an issue and if you find a service that didn't upgrade it's system to support it yet then you shouldn't use them in first place and find a better alternative. Title: Re: New to bitcoin! Best wallet to use? Post by: coupable on November 22, 2020, 10:59:57 PM Quote As I created a 'legacy' wallet for maximum compatibility, is there any benefit in setting up another wallet that uses SegWit or is it no worth it for a software wallet that's only going to be used for minimal BTC? By using Segwit you will pay less fees as you can save up up to ~35% on fees per transaction and you will help the network overall since more sgwit transaction can fit in the bitcoin block.Most services support bc1 addresses, so this is not really an issue and if you find a service that didn't upgrade it's system to support it yet then you shouldn't use them in first place and find a better alternative. I do also believe that segwit is better than legacy but it still depends on the users knowledge . Title: Re: New to bitcoin! Best wallet to use? Post by: taufik123 on November 23, 2020, 03:27:16 AM Turns out my computer (windows vista 32bit) isn't supported anymore and can't run electrum. -snip- I advise you to upgrade the OS you are using because Microsoft no longer provides Windows Vista security update support.Whatever wallet is used if security is not improved and is ignored, it will still be broken. I myself currently use dual antivirus to secure my windows and it is good enough to avoid malware, trojans and other viruses. Title: Re: New to bitcoin! Best wallet to use? Post by: Husna QA on November 23, 2020, 04:35:03 AM Upgrading windows OS or any other OS is very good advice. Because if you improve security it will be better. -snip- Of course, upgrading to the Operating System that still has security update support should be a top priority rather than forcing to install a Bitcoin wallet there. Even though Electrum 3.3.8 can be installed on Windows Vista; It's a little safer to make Electrum an offline wallet on the old OS without being connected to the Internet.https://electrum.readthedocs.io/en/latest/coldstorage.html Title: Re: New to bitcoin! Best wallet to use? Post by: jaresmerel001 on December 01, 2020, 10:01:02 AM For storing your bitcoin and other cryptocurrencies, there are many options,
Hardware wallet Metal wallet Software wallets Exchange wallet Each bitcoin/crypto storage solution has its own benefits and drawbacks that one should consider. Depending on your needs and preferences, there are many options. Title: Re: New to bitcoin! Best wallet to use? Post by: Filicius on December 01, 2020, 10:16:08 AM Samourai Wallet was a thing, and another one I can't remember the name, but similar.
Aren't those wallets what they were supposed to be now in 2020? because none of you are talking about them, only Electrum (which is the one I personally use, BTW). Title: Re: New to bitcoin! Best wallet to use? Post by: shide2020 on December 02, 2020, 02:08:52 PM I am new to bitcoin, i want to know which wallet is the best and why is it the best.
Title: Re: New to bitcoin! Best wallet to use? Post by: clifjw on December 02, 2020, 10:20:46 PM I am new to bitcoin, i want to know which wallet is the best and why is it the best. If you are new shide2020 I'd have a look at the sticky on wallets for starters https://bitcointalk.org/index.php?topic=1631151.0 (https://bitcointalk.org/index.php?topic=1631151.0). There are number of different types, that thread is a great place to start to give you some background on each type. When you know which type you want, then you can start narrowing down which wallet would be best for you. Personally I went with Electrum for Android for my software hot wallet, and a Ledger Nano S for my long term HODL cold storage wallet. |
