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Title: What things do you study while choosing a wallet? Post by: coinremitter on April 24, 2023, 11:12:46 AM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that!
Title: Re: What things do you study while choosing a wallet? Post by: Nwada001 on April 24, 2023, 11:22:32 AM Before I consider using any wallet, the first thing I look at is its security. and I think that's the most important part of every wallet. One should check out the security. Is the wallet secured enough? Do I fully have control over my assets? Those are the things I look at the most in any wallet that I want to use.
Transaction fees vary; most wallets usually have a custom transaction fee. You can adjust your transaction speed to how you want it, but the lower the fee, the slower your transaction will take to execute. Title: Re: What things do you study while choosing a wallet? Post by: Zaguru12 on April 24, 2023, 11:24:49 AM First is the custodianship, it is of paramount importance to wallet which is self custodian. Secondly is security and this is mostly achieved by using a cold wallet but there I also own hot wallet to store some funds for easy access. The cold wallet are where the huge funds are saved in. Thirdly is choosing an open source wallet, there are self custodian wallets that are closed source and it is entirely frowned upon.
The transaction fees are also important but not just like the others listed above. The transaction fee problem is solved by using a wallet that supports the RBF opt-in. With this I could navigate around the amount of transactions fees to use. Title: Re: What things do you study while choosing a wallet? Post by: Charles-Tim on April 24, 2023, 11:25:41 AM I am generally and only referring to noncustodial wallets.
Wallet is not an organization, no need to consider customer support, this forum is more than a customer support, just ask any questions about any of the reputed wallets. Transaction fee are taking by miners, not the wallet. What should first be considered is if the wallet is a cold wallet/offline or hot/online wallet. Cold wallets are safer. Then considering if the wallet is supporting RBF, very important when the mempool is congested. Other things to consider are: 1. The type of address it is supporting (a wallet that is not supporting segwit should be avoided) 2. Having coin control 3. Having excellent fee estimation algorithm (but best to use mempool to know the fee rate to use) 4. Fee customization etc 5. Know if it is open source (close source wallets are not recommended). Some people may prefer privacy and go for full node wallets like Bitcoin Core, using Tor with it. Title: Re: What things do you study while choosing a wallet? Post by: Patrol69 on April 24, 2023, 11:52:13 AM The most important thing before choosing a wallet is the security of the wallet. Because if the wallet is not secured then our money will never be safe there. We should avoid using wallets that have weak security systems. That is, we should always avoid wallets that can be easily accessed by others. Because when our wallet security is completed then our resources will be safe in that wallet.
No matter which wallet you use, we must pay a transaction fee when making a token transaction in every wallet. The transaction fee from one wallet to another is not very high. We never use wallets with less security due to small transaction fee variations. We should always use a strong and high security wallet even if the transaction fees are a bit high. Title: Re: What things do you study while choosing a wallet? Post by: Edwardard on April 24, 2023, 12:02:30 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! For a user like me, the first priority is ease of use i.e. I prefer simplicity over complex and advanced functionalities. Technical support is an important part but if the wallet is not difficult to understand for a newbie, not many ppl will require this. Transaction fees is not a question to ask since every self-custodial wallet has custom fee option where you check the mempool and set the fee for your tx as per the traffic.Also for me, pay-to-many is an important feature for bitcoin wallet and you wont find many bitcoin wallets (especially the mobile ones) having this function. I use bluewallet for all my day-to-day use. Its the best bitcoin wallet for me till date. Title: Re: What things do you study while choosing a wallet? Post by: boyptc on April 24, 2023, 12:02:46 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! The community that it has got and the security that it offers. There's a thread in the Beginners and Help about this topic.--> [General] Bitcoin Wallets - Which, what, why? (https://bitcointalk.org/index.php?topic=1631151.0) Aside from that, it's also best to stick with those wallets that have been known by most and has proven to be a reliable wallet. There have been newbies that are still being misled to the usage of web wallets that don't even provide them their private keys. And that's one factor that everyone should take, upon using a wallet, use the ones that's providing them the private keys and they're the non custodial wallets. Title: Re: What things do you study while choosing a wallet? Post by: Yaunfitda on April 24, 2023, 12:02:53 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Wallet should be open source of course, and then you yourself building that source app from ground up, meaning you have to download the source code yourself and verify everything. Just like Bitcoin is build open source, Bitcoin Core is open source.
Title: Re: What things do you study while choosing a wallet? Post by: m2017 on April 24, 2023, 12:23:27 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! You are right, cryptocurrency wallets are a lot. Also, there are many different types of wallets, which you forgot to clarify. When choosing a wallet of different types, you have to take into account certain features each time. In general, I would like to highlight the following thoughts.If the most important function of a wallet is to save money, then security comes first in importance. Technical support is next. Without this, it is almost impossible to keep the security of the wallet at a high level due to rapidly changing trends in technology (attackers will simply hack a wallet that will not be updated). The next parameter is the simplicity and convenience of the wallet, which allows any user to master and use it. Title: Re: What things do you study while choosing a wallet? Post by: Z-tight on April 24, 2023, 12:41:36 PM This link will conveniently help you to choose your BTC wallet (https://bitcoin.org/en/choose-your-wallet?step=5), though it is required that you answer some questions so they can select the best wallet for you, questions like the operating system of your device, whether you are a new or experienced user, criteria, etc. Answer the questions honestly so you get the best wallet that suits you.
If you are a new user and you select that you are an experienced user, you may be provided with a complex wallet that you cannot handle for now, so be honest with it, and when you gain more experience, you can get wallets of your level that would suit you then. Only recommended wallets are in their options, so no worries about using anyone recommended for you. Title: Re: What things do you study while choosing a wallet? Post by: Plaguedeath on April 24, 2023, 12:41:42 PM If you're want to use wallet for your cellphone, the best choice is Electrum.
If you're want to use wallet for your PC or Laptop, the best choice is either Bitcoin Core or Electrum. If you're want to hold for long time, you can use hardware wallets e.g. ledger or trezor. You will not regret if you use this wallet because this is the only wallet which give many features and very safe. I don't see any reason for you to choose other wallet than I mentioned above except you know what you're doing. Title: Re: What things do you study while choosing a wallet? Post by: Magic-Money on April 24, 2023, 01:02:22 PM Choose using trust wallet app and is easy to use and less charge fees for any given transaction, mostly on the Binance and Tron smart chain, which I have been experiencing for some period of time, I'm using the Trust wallet.
Title: Re: What things do you study while choosing a wallet? Post by: KiaKia on April 24, 2023, 01:14:44 PM 1. Custodial vs Non-Custodial 2. Open source vs Closed source
These two points of mine are very important for everyone to understand before choosing a crypto wallet for storing their digital assets. Custodial Wallets are wallets that takes control from users and decide to be their users private keys keeper, meaning they function just like the banks, they keep your assets for you, with this, many things can go wrong, they can decide to close down the business, and they will leave with your money, they have the keys in the first place. Non-Custodial wallets These wallets are better than custodial wallets because they give users access to their private keys or recovery seed, even if they go down some day you can easily import your recovery seed into another available wallet, everyone prefers using Non-custodial wallets because they are safer compared to Custodial wallets. Open Source vs Closed Source Open source wallets are more transparent, they leave every codes opened to the public, so when choosing a wallet, make sure they are open source, closed source wallets are secretive, they decide not to share their coding and stuff to the public experts and developers for full transparency, some said they are trying to avoid copycats and stuff, but users still prefer open source wallets and it's the best decision ever. Title: Re: What things do you study while choosing a wallet? Post by: Z-tight on April 24, 2023, 01:23:03 PM Choose using trust wallet app and is easy to use and less charge fees for any given transaction, mostly on the Binance and Tron smart chain, which I have been experiencing for some period of time, I'm using the Trust wallet. Trust wallet is not a recommended wallet, and i would not recommend it to members that are looking for good wallets to use. Trust wallet is closed source, and if you want to choose a wallet you should go for one that is open source and recommended by the real BTC community. Trust wallet is also owned by Binance, and that is another reason why you should not use it because of the shady way Binance operates. If you are using Trust wallet transafer your BTC's to either Electrum or BlueWallet.Title: Re: What things do you study while choosing a wallet? Post by: serjent05 on April 24, 2023, 01:35:55 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! It is an obvious answer, the reputation of the site and developer that creates the wallet. At first, I use only the Bitcoin core wallet and I am skeptical to use other wallets, then I found Electrum, being light and easy to access without downloading the whole blockchain data, it is now my goto wallet. Btw, I just browsed the Bitcoin.org wallet list database and it is surprising that they have a helper now. They give options on the type or kind of wallet the downloader wants so the user can choose what type of wallet they prefer. They even have choices like this https://i.imgur.com/9ExB5pF.png (https://bitcoin.org/en/choose-your-wallet?step=4&platform=windows&user=beginner&important=control,transparency&features=) Title: Re: What things do you study while choosing a wallet? Post by: Merit.s on April 24, 2023, 01:44:43 PM Noncustodial wallet is the best wallet to use to keep your funds safe,because it is an open source whereby,you control your keys yourself. Security is the most important thing when choosing a wallet. As a newbie, if you want to use a mobile wallet,go for electrum wallet because it is easy to use and has RBF for smaller funds and maybe for your daily spending. If you want a PC wallet,then you go for a hardware wallet like Trezor. Hardware wallets are use to store large amount of coins or if you want to keep on accumulating your bitcoin for a very long period of time. Transaction fee shouldn't be a problem because it can be adjusted.
Title: Re: What things do you study while choosing a wallet? Post by: Z-tight on April 24, 2023, 01:59:16 PM Noncustodial wallet is the best wallet to use to keep your funds safe,because it is an open source whereby,you control your keys yourself. Self custody wallets are different from open source wallets, a wallet can be a self custody wallet but be closed source, for example coinbase wallet is a self custody wallet, but it is closed source and hence not recommended. The most recommended are wallets that are open source and self custody.If you want a PC wallet,then you go for a hardware wallet like Trezor. A desktop wallet isn't a hardware wallet, they are two different types of wallet. Electrum for example is a desktop wallet and also a mobile wallet, so you can run it on either a computer or a phone, but in a computer it comes with better features. A hardware wallet stores your keys offline in a small device you buy and keep physically.Title: Re: What things do you study while choosing a wallet? Post by: darkv0rt3x on April 24, 2023, 02:09:42 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! A couple of things comes to mind right away. Policy of the project (open or closed source), community and which innovations does it brings compared to others already on the market. If there is nothing really new or innovative, I usually don't even bother to try it! In cryptoworld, even the smallest mistake can cost you a shit ton of problems, funds loss, etc! Title: Re: What things do you study while choosing a wallet? Post by: Dunamisx on April 24, 2023, 02:14:41 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! I consider a wallet if it's a decentralized wallet and a non custodial wallet, any wallet i will have to use must be an open source cold storage, not all cold storage were open source, i try also to make use of wallet that are common and not only that, those that are reliable that can secure my asset for life, wallets like hot wallet are not reliable because they can be hacked or closed at anytime,when the source code of a wallet is made publicly available, they you can go for it as an open source, generate your keys and safe keep them to always use whenever you wanted to important your wallet on any device at anytime. Title: Re: What things do you study while choosing a wallet? Post by: Asuspawer09 on April 24, 2023, 02:25:47 PM 1. Custodial vs Non-Custodial 2. Open source vs Closed source These two points of mine are very important for everyone to understand before choosing a crypto wallet for storing their digital assets. Custodial Wallets are wallets that takes control from users and decide to be their users private keys keeper, meaning they function just like the banks, they keep your assets for you, with this, many things can go wrong, they can decide to close down the business, and they will leave with your money, they have the keys in the first place. Non-Custodial wallets These wallets are better than custodial wallets because they give users access to their private keys or recovery seed, even if they go down some day you can easily import your recovery seed into another available wallet, everyone prefers using Non-custodial wallets because they are safer compared to Custodial wallets. Open Source vs Closed Source Open source wallets are more transparent, they leave every codes opened to the public, so when choosing a wallet, make sure they are open source, closed source wallets are secretive, they decide not to share their coding and stuff to the public experts and developers for full transparency, some said they are trying to avoid copycats and stuff, but users still prefer open source wallets and it's the best decision ever. It does have a lot of complicated things but as a beginner, all you need to consider is it's a Non-custodial/decentralized and open source. Most of the users are concerned about centralized exchange because you don't have control over your money and at any moment the wallet or exchange could easily lock your account if they wanted and you can't do anything about it, unlike if you own your private key your the only one who has access to your wallet. But if you have the budget you could just buy a hardware wallet which is the best when it comes to security overall. But I would still suggest Electrum as well. [GUIDE] How to Safely Download and Verify Electrum [Guide] (https://bitcointalk.org/index.php?topic=5240594.0) Title: Re: What things do you study while choosing a wallet? Post by: CryptSafe on April 24, 2023, 02:26:42 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! While everyone is glamouring for fees I see that as no big deal but I assume safety first because when your funds are safe that is when you can be talking about doing transaction and other activities. Wallet security matters alot to me because that is the major reasons why the wallet was formed for self custody, easy access and protection. If your wallet is not secured you will not be convenient using such product and you will definitely opt for a third party which is even worst than the wallet itself. Another thing I check for is the flexibility of the wallet product accross all chains. If a wallet can be able to accommodate eighty percent of the blockchain wallets then why can I not use it. It will aid me in reducing the stress of trying to download wallets pertaining to different chains making my phone occupied with various wallets. I think just this few tips I look into because I know that of fees would be very competitive amongst the various wallets product providers as to who's transaction fee is much cheaper. Title: Re: What things do you study while choosing a wallet? Post by: Woodie on April 24, 2023, 02:37:54 PM The fact that some of these well known wallets have several knockoffs around the internet trying to scam unsuspecting users, first thing I do is find a website of the wallet, see if i can get to their social media platforms and look for real engagements with the community, then check this forum or trustpilot reviews or reddit for anything positive or negative being said by the wallet, once all this passes my checks then I can use the wallet.
Better yet , any wallet that isn't being talked about around the forum in a good way is a no go area for me, simple as that! Title: Re: What things do you study while choosing a wallet? Post by: Party24*7 on April 24, 2023, 02:39:43 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Security and privacy are top concerns when choosing a wallet to store bitcoins. You should choose non-custodial wallets because you will have full control of your assets without anyone being able to interfere with your assets. Transaction fees are also something to consider, as we all want to save money, cheap but it can't be more important than security. Title: Re: What things do you study while choosing a wallet? Post by: rat03gopoh on April 24, 2023, 02:56:40 PM Choose using trust wallet app and is easy to use and less charge fees for any given transaction, mostly on the Binance and Tron smart chain, which I have been experiencing for some period of time, I'm using the Trust wallet. For noncustodial wallets, they're not supposed to affect fees. It's purely on blockchain traffic and basis(which you mentioned).If fee is the main consideration here, then centralized wallets outperform them all, but it's well worth the risk. :-* Title: Re: What things do you study while choosing a wallet? Post by: Litzki1990 on April 24, 2023, 03:07:12 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! We should give utmost importance in choosing a wallet. Because if we can't protect the money that we earn so hard, then there will be no value in earning that money. High security wallets require going through some system to open which is why people avoid high security wallets which is never right. Because you never want your hard-earned resources to go to other people. If we search for crypto platform we will find many wallets but not only wallets, we have to check and find more security complete wallets where you can safely store your earned assets. Compared to me Electrum wallet seems more security complete wallet than other wallets so I deposit my coins in this Electrum wallet. Title: Re: What things do you study while choosing a wallet? Post by: TimeTeller on April 24, 2023, 03:20:02 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! While everyone is glamouring for fees I see that as no big deal but I assume safety first because when your funds are safe that is when you can be talking about doing transaction and other activities. Wallet security matters alot to me because that is the major reasons why the wallet was formed for self custody, easy access and protection. If your wallet is not secured you will not be convenient using such product and you will definitely opt for a third party which is even worst than the wallet itself. Another thing I check for is the flexibility of the wallet product accross all chains. If a wallet can be able to accommodate eighty percent of the blockchain wallets then why can I not use it. It will aid me in reducing the stress of trying to download wallets pertaining to different chains making my phone occupied with various wallets. I think just this few tips I look into because I know that of fees would be very competitive amongst the various wallets product providers as to who's transaction fee is much cheaper. That is true, safety and security first of your coins. So noncustodial wallets are preferred over custodial ones. Because if you have no full control with your funds, then, it is like your coins are not yours. Just like the popular saying here, "Not your keys, not your coins." Whatever happens to that site or wallet, you will have no direct access to your funds, and will just hope that the owner will return your funds. Waiting would not be a happy one as they can easily abandon, get away with it and give reason that it was the hackers who stole your funds. This is the reason why you would want to have your own keys with your wallet, and not be dependent on third party services. Title: Re: What things do you study while choosing a wallet? Post by: Hamza2424 on April 24, 2023, 04:35:44 PM First of all dear, this topic doesn't belong to this section of the forum even I don't where should I recommend you move it but simply you can move it to the beginner and Help section that's quite relatable.
My simple stand on choosing a wallet is to choose the famous one haha simple do 2 or 3 searches and you will find the best wallet for you. Most of the people do not care about its open source or do not simply follow others which is wrong but still, they do follow others. Even I am very easy with this approach to choosing the Hot Wallet, currently, I am using Mew, Trust Wallet, and Electrum Hot Wallets. Hardware wallets currently I think I don't need to buy any because I usually trade and move my funds from my wallet to others from time to time, for security reasons. In Hot wallets, most of people prefer Electrum and MetaMask wallets. Rest I know a few of them others are unknown and I don't consider them reliable. Title: Re: What things do you study while choosing a wallet? Post by: The Cryptovator on April 24, 2023, 04:51:58 PM Recently, I've been relying on the Ledger Nano X hardware wallet to ensure the security of my cryptocurrency funds. Above all else, safeguarding my assets is of utmost importance to me. I am not comfortable with entrusting my crypto to a custodial or centralized wallet as it would mean granting third-party access to my funds. Prior to obtaining a hardware wallet, I had been using Electrum, which is also a non-custodial wallet. Hence, it's clear that I will always opt for a non-custodial wallet to store my crypto, even if it's not a hardware wallet.
Title: Re: What things do you study while choosing a wallet? Post by: Lorence.xD on April 24, 2023, 05:02:38 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! First thing I would do if I will choose a wallet. Of course that safety and security of my funds, there's a lot of wallet that are prone to scam like draining your funds, it would be better to look for the security of the wallet for your safety purposes. Different wallets also contains different fees which you also need to look out. Transactions fees could also hurt our pocket than earning so keep an eye on them. I would like to recommend but it's the best for you to search for the best wallet that suit for you. Since we have different preferences. Title: Re: What things do you study while choosing a wallet? Post by: crwth on April 24, 2023, 05:14:31 PM Still, I would go back to this again and again. Read this thread by Lauda.
[General] Bitcoin Wallets - Which, what, why? (https://bitcointalk.org/index.php?topic=1631151.0) This is the best resource to have and keep in mind if you are considering any type of wallet. Title: Re: What things do you study while choosing a wallet? Post by: zanezane on April 24, 2023, 05:17:18 PM In terms of selecting a wallet you should consider some of this general information while choosing a wallet. The first one and the important one is the Security of the wallet, you want to make sure that your wallet is secure and your funds are safe. Look for wallets that have two-factor authentication, strong encryption, and back ups. Make sure that the wallet you choose supports the cryptocurrencies you plan to use. Some wallets may only support certain coins, so it's important to check before you choose your wallet.
It's also best to research the wallet's reputation before choosing one. Look for reviews from other users and read about any past security incidents. Choose a wallet that has a good reputation and a track record of keeping user funds safe. In case you have any issues with your wallet, you want to be able to contact customer support. Look for wallets that hav good customer support and provide multiple channels for contacting them, such as email, phone, and live chat. You might also consider the transaction fees or monthly fees. Be sure to compare fees and choose a wallet that offers fair pricing. Title: Re: What things do you study while choosing a wallet? Post by: paid2 on April 24, 2023, 05:37:16 PM Personally I'm pretty old-fashioned when it comes to choosing my wallets.
I stick to Electrum and BitcoinCore. I use hardware wallets for what I hold for the very long term. 1. Custodial vs Non-Custodial 2. Open source vs Closed source These two points of mine are very important for everyone to understand before choosing a crypto wallet for storing their digital assets. Custodial Wallets are wallet that takes control from users and decide to be their users private keys keeper, meaning they function just like the banks, they keep your assets for you, with this, many things can go wrong, they can decide to close down the business, and they will leave with your money, they have the keys in the first place. Non-Custodial wallets These wallets are better than custodial wallets because they give users access to their private keys or recovery seed, even if they go down some day you can easily import your recovery seed into another available wallet, everyone prefers using Non-custodial wallets because they are safer compared to Custodial wallets. Open Source vs Closed Source Open source wallets are more transparent, they leave every codes opened to the public, so when choosing a wallet, make sure they are open source. I completely agree with you, these are the most important criteria to take into account when starting out and choosing your first wallet I think. Otherwise OP, I can advise you this link which will help you to determine which wallet could correspond to your needs. Basically, you answer some questions and it suggests you a list at the end: https://bitcoin.org/en/choose-your-wallet Title: Re: What things do you study while choosing a wallet? Post by: P2Poutputs on April 24, 2023, 06:02:06 PM I am generally and only referring to noncustodial wallets. Wallet is not an organization, no need to consider customer support, this forum is more than a customer support, just ask any questions about any of the reputed wallets. Transaction fee are taking by miners, not the wallet. What should first be considered is if the wallet is a cold wallet/offline or hot/online wallet. Cold wallets are safer. Then considering if the wallet is supporting RBF, very important when the mempool is congested. Other things to consider are: 1. The type of address it is supporting (a wallet that is not supporting segwit should be avoided) 2. Having coin control 3. Having excellent fee estimation algorithm (but best to use mempool to know the fee rate to use) 4. Fee customization etc 5. Know if it is open source (close source wallets are not recommended). Some people may prefer privacy and go for full node wallets like Bitcoin Core, using Tor with it. what do you mean avoid nonsegwit wallets Title: Re: What things do you study while choosing a wallet? Post by: CryptoHeadlineNews on April 24, 2023, 06:12:42 PM There are a whole lot of factors to be considered when choosing a bitcoin wallet, such as the device, how fast it is, it's security, and how much charged per transaction fees e.t.c, of which there is a link below which contains the A-Z of all you need to know about choosing the right Bitcoin wallet suitable for your device or amount intended to invest.
Brief: Quote Here are some factors to consider when choosing a wallet: [General] Bitcoin Wallets - Which, what, why? (https://bitcointalk.org/index.php?topic=1631151.0)1. On the go? If you are making payments in person and not online then a mobile wallet like breadwallet (iOS) or Edge (Android) is a must. 2. Frequency of payments: If you will need to make frequent payments then it will be best to keep your funds in wallet that is easy to use and accessible. Mobile wallets and desktop wallets are good options. 3. Amount: If you are dealing with large amounts of bitcoins you will need a secure wallet. Hardware wallets and secure offline wallets like Armory are good options. Title: Re: What things do you study while choosing a wallet? Post by: DeathAngel on April 24, 2023, 06:17:23 PM Self custody where you are the only person with access to the private keys. That is the only thing that really matters to me, it doesn’t even have to be cold storage if you’re careful. A device that isn’t connected to the internet for anything other than crypto is good. Common sense & a level of intelligence is always important. The worst thing you can do is store your coins on third party wallets & exchanges.
Title: Re: What things do you study while choosing a wallet? Post by: Crypt0Gore on April 24, 2023, 07:21:05 PM 1. Custodial vs Non-Custodial 2. Open source vs Closed source These two points of mine are very important for everyone to understand before choosing a crypto wallet for storing their digital assets. Custodial Wallets are wallets that takes control from users and decide to be their users private keys keeper, meaning they function just like the banks, they keep your assets for you, with this, many things can go wrong, they can decide to close down the business, and they will leave with your money, they have the keys in the first place. Non-Custodial wallets These wallets are better than custodial wallets because they give users access to their private keys or recovery seed, even if they go down some day you can easily import your recovery seed into another available wallet, everyone prefers using Non-custodial wallets because they are safer compared to Custodial wallets. Open Source vs Closed Source Open source wallets are more transparent, they leave every codes opened to the public, so when choosing a wallet, make sure they are open source, closed source wallets are secretive, they decide not to share their coding and stuff with the public experts and developers for full transparency, some said they are trying to avoid copycats and stuff, but users still prefer open source wallets and it's the best decision ever. It does have a lot of complicated things but as a beginner, all you need to consider is it's a Non-custodial/decentralized and open source. Most of the users are concerned about centralized exchange because you don't have control over your money and at any moment the wallet or exchange could easily lock your account if they wanted and you can't do anything about it, unlike if you own your private key your the only one who has access to your wallet. But if you have the budget you could just buy a hardware wallet which is the best when it comes to security overall. But I would still suggest Electrum as well. [GUIDE] How to Safely Download and Verify Electrum [Guide] (https://bitcointalk.org/index.php?topic=5240594.0) If all users are only concerned about centralized exchanges then they are still lacking a lot about crypto wallets, the problem of custodial wallets doesn't end with centralized exchnages, there are some crypto wallet companies that are not operating any exchnages and still they don't give users their private keys, such wallets will ask users for email and password, as if you are signing up for a Facebook account, in the end they will disappoint.. A good example of such wallet is FreeWallet, a complete custodial wallet that ends up scamming many users. So centralized exchanges are not the only thing to watch out for, there are dangerous custodial wallets out there as well. Title: Re: What things do you study while choosing a wallet? Post by: Lida93 on April 24, 2023, 07:48:17 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! When considering to choose a wallet to use I first of make sure it's a non-custodial wallet, then head out for it's security system. Then the features of the wallet how flexible to understand seamlessly and how's their fee rate for transactions cause some wallets fee rates are so annoying. There are quite other things I do look out for but I prefer to give this very few as they are most important at the moment.Title: Re: What things do you study while choosing a wallet? Post by: usekevin on April 24, 2023, 07:49:58 PM Only some of the wallet are trusted one,most of the wallet are scam one in crypto currency field.Some of the trusted wallet are Trust,Meta Mask,MyEther Wallet,Electrum wallet,Coinomi.It’s trusted one in my list,you can use any of this.Because I had experience in al this wallet.They are trusted with my knowledge.If you just want to hold the bitcoin in your wallet better use trust and Coinomi wallet for the holding for the long run.The Trust wallet is purely based on the Binance,So you can trust the cryptocurrency trust wallet for sure.If you want to track the bitcoin transaction use of block chain technology.
Title: Re: What things do you study while choosing a wallet? Post by: Dr.Bitcoin_Strange on April 24, 2023, 08:27:34 PM When choosing a wallet, security is definitely the ultimate consideration. I believe no one would want to have their coins in a wallet where they would wake up the next day and see that all their assets were gone. So security comes first in your chosen wallet. When you talk about transaction fees, unless you are using a centralized platform to buy and hold your Bitcoin. But 1to hold your coin in a self-custodial wallet, it implies that transaction fees would be charged based on the network fees of miners, and if you need your transaction to be fast executed, you can then increase the fee or decrease it.
Before I chose a wallet, I first had to find out how secure and reputable it was. I think the first wallet I used was MetaMask. Some people are fond of leaving their coins on a CEX, and those CEX are responsible for the fee they sometimes attach to withdrawals. Title: Re: What things do you study while choosing a wallet? Post by: Victorybit1 on April 24, 2023, 09:54:10 PM Security is the most important factor to consider when choosing a Bitcoin wallet for me.
Go for wallet that has a strong reputation for security, that offers two factor authentication. Hard ware wallet are very secured. Consider wallets that is easy to understand and has a good reputation. Title: Re: What things do you study while choosing a wallet? Post by: yazher on April 24, 2023, 10:06:26 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Most important is the privacy and total control and when we talk about this, wallets that are from exchanges are not on the list because it's really your last choice if you don't have access to buy any Bitcoin hard wallet that you can keep to your own self whenever you want. As for the other wallets like software wallet and others like it, you really need technical knowledge about computers especially on how to prevent yourself from getting hacked and etc. because their way of getting your info on your computer these days are way more advanced than before so you need to be careful about choosing it as your main crypto wallet. Title: Re: What things do you study while choosing a wallet? Post by: milewilda on April 24, 2023, 10:32:36 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! NON- CUSTODIAL TRULY DECENTRALIZED OPEN SOURCE When it comes to storing up your coins for long term then this would really be the best option or choice to make. Electrum for Bitcoin and Trustwallet for multi chains. Just make use you do just make sure that you do keep up those keys on a safe place but if we do speak about hot wallets which we do make use very often then having those custodials would be considerable such as exchange wallets and other centralized wallets. People would really be that having that being convinced on making use of it on the time that they would be able to see that it does give out convenience and easy access.When it comes to fees then it would really be subjective to market condition. Title: Re: What things do you study while choosing a wallet? Post by: GreatArkansas on April 25, 2023, 01:23:42 AM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! NON- CUSTODIALTRULY DECENTRALIZED OPEN SOURCE (...) Good user interface/user experience and Supports multiple platforms. A good user interface/user experience, it will help people to use the wallet easily and comfortably. Because the wallet must be easy to use especially if you are using it day to day, you need to be extremely easy!@ About supporting multiple platforms: mobile support, computers like windows/macOS support, or even web support, it will help you also to use your wallet on whatever devices you are using while maintaining the security on it. Title: Re: What things do you study while choosing a wallet? Post by: Asuspawer09 on April 25, 2023, 04:21:07 AM 1. Custodial vs Non-Custodial 2. Open source vs Closed source These two points of mine are very important for everyone to understand before choosing a crypto wallet for storing their digital assets. Custodial Wallets are wallets that takes control from users and decide to be their users private keys keeper, meaning they function just like the banks, they keep your assets for you, with this, many things can go wrong, they can decide to close down the business, and they will leave with your money, they have the keys in the first place. Non-Custodial wallets These wallets are better than custodial wallets because they give users access to their private keys or recovery seed, even if they go down some day you can easily import your recovery seed into another available wallet, everyone prefers using Non-custodial wallets because they are safer compared to Custodial wallets. Open Source vs Closed Source Open source wallets are more transparent, they leave every codes opened to the public, so when choosing a wallet, make sure they are open source, closed source wallets are secretive, they decide not to share their coding and stuff with the public experts and developers for full transparency, some said they are trying to avoid copycats and stuff, but users still prefer open source wallets and it's the best decision ever. It does have a lot of complicated things but as a beginner, all you need to consider is it's a Non-custodial/decentralized and open source. Most of the users are concerned about centralized exchange because you don't have control over your money and at any moment the wallet or exchange could easily lock your account if they wanted and you can't do anything about it, unlike if you own your private key your the only one who has access to your wallet. But if you have the budget you could just buy a hardware wallet which is the best when it comes to security overall. But I would still suggest Electrum as well. [GUIDE] How to Safely Download and Verify Electrum [Guide] (https://bitcointalk.org/index.php?topic=5240594.0) If all users are only concerned about centralized exchanges then they are still lacking a lot about crypto wallets, the problem of custodial wallets doesn't end with centralized exchnages, there are some crypto wallet companies that are not operating any exchnages and still they don't give users their private keys, such wallets will ask users for email and password, as if you are signing up for a Facebook account, in the end they will disappoint.. A good example of such wallet is FreeWallet, a complete custodial wallet that ends up scamming many users. So centralized exchanges are not the only thing to watch out for, there are dangerous custodial wallets out there as well. I mean yes open source hardware wallet was not really a lot in the market but because of the trend, a lot of developers started releasing open-source software, and already increased through the years. I also say you don't have control over your money "wallet or exchange" which is already centralized and custodial. You have your point but it's not like we don't use centralized exchange at all, it's still one of the easiest ways to trade, buy, and exchange cryptocurrency and helps a lot when it comes to the adaptation of cryptocurrency. But I would agree that when it comes to choosing a wallet, custodial wallets are a big No. Title: Re: What things do you study while choosing a wallet? Post by: ektotanes on April 25, 2023, 07:54:19 AM When I was choosing a wallet, I was paying attention to security and possibilities. It's important for me that only I have access to my funds and that I can carry out all operations in one place. As a result, by the way, I chose ownr wallet and I've been using it for several years now.
Title: Re: What things do you study while choosing a wallet? Post by: coinremitter on April 25, 2023, 12:39:05 PM Before I consider using any wallet, the first thing I look at is its security. and I think that's the most important part of every wallet. One should check out the security. Is the wallet secured enough? Do I fully have control over my assets? Those are the things I look at the most in any wallet that I want to use. Transaction fees vary; most wallets usually have a custom transaction fee. You can adjust your transaction speed to how you want it, but the lower the fee, the slower your transaction will take to execute. Yes, I agree with you. Security is the prime feature to consider, you can manage the speed as well and with the transaction fees it should be lowest. with coinremitter you will get all benefits at one place. Must visit once!! Title: Re: What things do you study while choosing a wallet? Post by: ZAINmalik75 on April 29, 2023, 10:08:37 AM Before I consider using any wallet, the first thing I look at is its security. and I think that's the most important part of every wallet. One should check out the security. Is the wallet secured enough? Do I fully have control over my assets? Those are the things I look at the most in any wallet that I want to use. The most important thing for all traders and investors is their assets and then they will try to protect these assets at all costs. Using a personal wallet is important where you can store and secure your cryptocurrencies because the private keys and passwords will be only under your custody compared to exchanges where your capital is considered not more secure. Transaction fees vary; most wallets usually have a custom transaction fee. You can adjust your transaction speed to how you want it, but the lower the fee, the slower your transaction will take to execute. In personal wallet they have two types. One is soft wallet and the other is hard wallet. In terms of security, hard wallet is the most reliable because of its strick and tough security features which were very necessary for the safety of your asset's. While attacks by scammers are often seen in soft wallets, because scammers cannot easily access hard wallets. My personal choice is to use safepal wallet where transaction fee is quite low while speed is mind-blowing. I am quite satisfied from him. Title: Re: What things do you study while choosing a wallet? Post by: Doan9269 on April 29, 2023, 10:29:13 AM Security is the most important factor to consider when choosing a Bitcoin wallet Perfectly on point, this is what is expected of many of us to take into consideration before choosing a bitcoin wallet especially the newbies regardless of the needs for them to have one, there are many bitcoin wallets, their application and types, then what comes in next is considering my needs for using a particular type and my knowledge in understanding the wallet itself in terms of security and use. Title: Re: What things do you study while choosing a wallet? Post by: Kakmakr on April 29, 2023, 10:56:10 AM You actually have to look at your use case for the wallet to guide you in your decision :
1. If you are going to use it every day, then a online wallet would be the best wallet... something you can access via your mobile phone. 2. If you looking for a long-term storage wallet.. I would go for a hardware wallet or even a Paper wallet (air-gapped) 3. If you want to do both... a desktop wallet is good enough. (Electrum wallet) Just choose the most secure wallet, if you are going to store a lot of coins (hardware wallet) ...because they need the physical device or the Seed phrases to get to the coins. Title: Re: What things do you study while choosing a wallet? Post by: eightdots on April 29, 2023, 11:07:59 AM First of all, I check the security of the wallet I will use. After clearing my doubts about security, I will now look at how to use that wallet. If I'm going to use it at any time of the day, I buy a wallet accordingly. If I think I need to connect via Bluetooth, I'll buy a wallet with this feature. This is a need that will be shaped by how you want to use it. If I'm not doing daily transactions, I don't need a wallet that can connect to my phone via bluetooth. You should make your choice accordingly.
Title: Re: What things do you study while choosing a wallet? Post by: karmamiu on April 29, 2023, 12:30:56 PM You actually have to look at your use case for the wallet to guide you in your decision : Same as how I choose mine, but for me I usually check first if it's available in our country, then next if it can be easily accessed anywhere and whether I can send in any custodial wallets that I own.1. If you are going to use it every day, then a online wallet would be the best wallet... something you can access via your mobile phone. 2. If you looking for a long-term storage wallet.. I would go for a hardware wallet or even a Paper wallet (air-gapped) 3. If you want to do both... a desktop wallet is good enough. (Electrum wallet) Just choose the most secure wallet, if you are going to store a lot of coins (hardware wallet) ...because they need the physical device or the Seed phrases to get to the coins. In case of owning non-custodial wallets, first I need to check if it's accessible and can be trustes before I purchase coz who knows if the wallet cannot be trusted I may run the risk of my funds getting lost either failure of the wallet or the seller. Title: Re: What things do you study while choosing a wallet? Post by: cheezcarls on April 29, 2023, 12:40:37 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Security is always a priority for me given the fact that some of these wallets are still vulnerable to hacking. If you create a non-custodial hot wallet, most likely it’s still vulnerable to unexpected hacks like the Metamask and Trust Wallet due to numerous exploits, lack of stringent security layers, etc. One of my non-custodial wallets got hacked last time in all 4 chains (Ethereum, BSC, Polygon and Arbitrum). And not just that, it is “infected” in which every time I deposit something for gas fees it was automatically drained to the hacker’s address known as “Fake Phishing ###” no matter if I am using desktop or mobile. To be safe, better store your assets in a cold wallet like the Ledger Nano S, Trezor, SafePal, SecuX, etc. These wallets may cost you some money, but it’s worth it as long you keep your phrases safe. Much better engrave them in an aluminum metal that is fire and water resistant in case calamities occur. Title: Re: What things do you study while choosing a wallet? Post by: ringgo96 on April 29, 2023, 12:55:02 PM Wallet is a very important thing for us crypto users, then we will definitely choose a wallet that has a high level of security because this is a very important thing because there we will store all the assets we have, for the problem of transaction fees I think all wallets are almost the same even though the difference is thin but for me it is number two because the main thing is security, And the wallet we use already has the trust of big investors so negative things don't happen easily.
Title: Re: What things do you study while choosing a wallet? Post by: Jawhead999 on April 29, 2023, 01:12:09 PM A closed source, custodial where I don't have full control over my coins, less feature, fixed fee, charge additional fee to make the developer rich, and the one which fresh newly created wallet :D
I mean, what's need to discussed anymore? you don't need to create a new thread, just use search engine and you will many thread talking about good wallets. Many users already keep repeating electrum, bluewallet and hardware wallet, just pick one or use them all that's fit for you. Title: Re: What things do you study while choosing a wallet? Post by: Ziskinberg on April 29, 2023, 01:21:53 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Perhaps, you have already mentioned some but the most important thing to consider when choosing a wallet is the reputation. Because I don't just look at how much I pay but I was very concerned if my transfer went successfully or if it will just go in thin air. In many cases that this happens, may not because of the wallet or exchange destination but also because sometimes we got fake and use phishing sites. That is why we should be careful and we should not send our money too fast but rather be sure that the address and site are correct. Title: Re: What things do you study while choosing a wallet? Post by: Little_Sister on April 29, 2023, 02:13:34 PM A closed source, custodial where I don't have full control over my coins, less feature, fixed fee, charge additional fee to make the developer rich, and the one which fresh newly created wallet :D Most liked comment section, I love the way you responded to this thread and made Op think about your comment, definitely closed source wallets are highly discouraged and custodians, we should have full access to our wallet managed and no third parties involved.Quote I mean, what's need to discussed anymore? you don't need to create a new thread, just use search engine and you will many thread talking about good wallets. Many users already keep repeating electrum, bluewallet and hardware wallet, just pick one or use them all that's fit for you. We already have a lot of similar threads on the software wallet section as well as beginners and help, so use the search feature to find discussions that have already been discussed so there are no threads on the same topic.Title: Re: What things do you study while choosing a wallet? Post by: cydrix on April 29, 2023, 02:43:41 PM The security of the wallet should always come first when selecting one. Because our money will never be secure in the wallet if it is not secured. Weakly secured wallets should not be used. In other words, we should never carry wallets that are simple for others to access. Because once the security of our wallet is complete, our resources will be secure there. No matter which wallet you utilize, we are required to pay a transaction charge each time we transfer tokens between wallets. A small transaction fee applies when moving money from one wallet to another. We never use wallets with worse security because of slight differences in transaction fees. Despite the rather expensive transaction costs, we should always utilize a secure wallet.
Title: Re: What things do you study while choosing a wallet? Post by: FahriZah on April 29, 2023, 02:59:31 PM Absolutely yes because when i,m choosing my wallet that means which wallet perfect and which wallet good for me and wallet allow our country or not i can complete kyc or not Etc like many Think need to stady before create choosing wallet and finally my need to CREATE Wallet as well ever.
Title: Re: What things do you study while choosing a wallet? Post by: gunhell16 on April 29, 2023, 03:11:40 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! What I do is simple, if bitcoin is the coin I hold, of course, I use Electrum on the desktop because I've been using it for several years even though I haven't used a hard wallet so far. Now if I use other coins that blockchain is under trc20, Matic, and Bnb because this is so far it can be said that it is good and tested for me based on my experience and learned. Because all the transaction fees are fine for me. And I am also in full control of my assets. Title: Re: What things do you study while choosing a wallet? Post by: molsewid on April 29, 2023, 05:25:16 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! I've been using crypto for years and tried almost all kinds such as hardware, physical and those that can be created online. Among all these thing, I like my hardware wallet more than others because of its security it is not too convenient because you need to enter your pin and password every transactions but it is good you can see the number of layers of the security before a transaction can be approve. Title: Re: What things do you study while choosing a wallet? Post by: zanezane on April 29, 2023, 05:34:11 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! I've been using crypto for years and tried almost all kinds such as hardware, physical and those that can be created online. Among all these thing, I like my hardware wallet more than others because of its security it is not too convenient because you need to enter your pin and password every transactions but it is good you can see the number of layers of the security before a transaction can be approve. Title: Re: What things do you study while choosing a wallet? Post by: blockman on April 29, 2023, 09:30:02 PM I've been using crypto for years and tried almost all kinds such as hardware, physical and those that can be created online. Among all these thing, I like my hardware wallet more than others because of its security it is not too convenient because you need to enter your pin and password every transactions but it is good you can see the number of layers of the security before a transaction can be approve. Hardware wallet is the best IMO and I've used only one of it but I'm already satisfied with its use. It may cost some money but that's just a portion of the amount that you'll be happy to get from using it for a very long time. I don't find that hassle whenever I try to confirm transactions every time I'll do. It's actually a good measure of security from doing so, I don't find myself thinking of it as something to be annoyed with or inconvenient just because it's like that.Title: Re: What things do you study while choosing a wallet? Post by: Mate2237 on April 29, 2023, 09:33:23 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! The things I consider before choosing a wallet is security, the charging rate and the popularity of the wallet. The popularity of the wallet means how many people are using the wallet. A wallet that is well reorganize with much people is not advisable to use. Like Trust Wallet can not be compared to Electrum Wallet. The best wallet from all the wallets I have used is Electrum. I have not gotten the opportunity to use hardware wallet so I can not say any on hardware wallet. I know that they are also good to use. Title: Re: What things do you study while choosing a wallet? Post by: BTCBroker2016 on April 30, 2023, 05:21:44 PM I've been using crypto for years and tried almost all kinds such as hardware, physical and those that can be created online. Among all these thing, I like my hardware wallet more than others because of its security it is not too convenient because you need to enter your pin and password every transactions but it is good you can see the number of layers of the security before a transaction can be approve. Hardware wallet is the best IMO and I've used only one of it but I'm already satisfied with its use. It may cost some money but that's just a portion of the amount that you'll be happy to get from using it for a very long time. I don't find that hassle whenever I try to confirm transactions every time I'll do. It's actually a good measure of security from doing so, I don't find myself thinking of it as something to be annoyed with or inconvenient just because it's like that.It is but there are different bugets for people and they use it as they can Title: Re: What things do you study while choosing a wallet? Post by: blockman on April 30, 2023, 06:33:43 PM Hardware wallet is the best IMO and I've used only one of it but I'm already satisfied with its use. It may cost some money but that's just a portion of the amount that you'll be happy to get from using it for a very long time. I don't find that hassle whenever I try to confirm transactions every time I'll do. It's actually a good measure of security from doing so, I don't find myself thinking of it as something to be annoyed with or inconvenient just because it's like that. It is but there are different bugets for people and they use it as they can The protection that it can give to you and to your fund is at its finest and that's why many are suggesting to buy it. Even before, I'm not convinced when people are talking about it. But when I've given it a try and bought my own hardware wallet, that had made me worry free because I know that it's safe there and there's a need to verify each transaction being done from there. Title: Re: What things do you study while choosing a wallet? Post by: CarnagexD on May 01, 2023, 12:23:50 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Having a wallet will make you manage and keep your own funds. It's either in a tangible or intangible drive wallet. I would say that you must consider its compatibility and its usage if you are to use hardware wallets. If it is reliant on third-party apps, consider highly the security and the availability of coins you are to hold. Check the availability for your country of course and other restrictions you need to consider. All in all, using what you find will be most convenient and will be the safest to store your crypto. It's not just coins, it's a generational wealth if handled and stored securely. Title: Re: What things do you study while choosing a wallet? Post by: Supreemo on May 01, 2023, 12:46:22 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! first things first that you need to check and consider is if it's secured cause all you're assets or funds will be stored secondly is the transaction fees if it's too costly cause mostly of this wallets have a high fees and the most important thing is the availability of those wallets in your country since there are some wallets have restrictions and it should be reliable to used most of the time.Title: Re: What things do you study while choosing a wallet? Post by: Twentyonepaylots on May 01, 2023, 09:05:52 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Having wallet in cryptocurrency trading and/or investment is important and we should wisely choose the best suitable wallet for us. For starters, one can use the reputation of a wallet to be the basis since this will let you see the how it do in the years of its service that leads you to assess the overall secureness of it. Security is important since you would definitely want your money and profit to be in a safe place so you should assess it security features to see how secured it is. Lastly, it is indeed need to consider the compatibility of it, since it is better to consider a wallet that is not that restricted in your country. Title: Re: What things do you study while choosing a wallet? Post by: qwertyup23 on May 01, 2023, 09:34:51 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! One of the factors that let me decide in choosing a wallet is its convenience and accessibility. If a wallet is available via an exchange which is mainly used by majority of our people, then I would also use such wallet. Another factor is its accessibility. The wallet must also be available via an application that can be downloaded respectively in our mobile phones. Lastly, I would also consider if the wallet is either online or offline depending on the usage. Generally, offline wallets are used in order to store BTCs in a much higher security. Title: Re: What things do you study while choosing a wallet? Post by: duckalis on May 01, 2023, 09:37:26 PM When selecting a crypto wallet, it’s important to ask yourself:
• How many coins will I store? • What are the fees? • Do I need daily, quick access to this wallet? • Is security or convenience important to me? Title: Re: What things do you study while choosing a wallet? Post by: AnonBitCoiner on May 04, 2023, 02:14:01 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Cryptocurrency wallets are also of two types, a soft wallet and a hard wallet. The most important thing I consider when choosing any cryptocurrency wallet is security because I always think about how safe my wallet is for cryptocurrency. nowadays hackers keep on attacking a lot of wallets and soft wallets often become victims of hackers. Hard wallet are always safe from hackers due to best features of not storing phrase online. Transaction feesof blockchain has its own importance but more important to me is the security of my cryptocurrency. hardwallet selection is a great option for ctyptocurrency.You will feel more confident about your cryptocurrency here than in other wallets. Title: Re: What things do you study while choosing a wallet? Post by: Peanutswar on May 04, 2023, 02:44:16 PM When I'm starting in the crypto currency world I just using a wallet came from the google play well it's reliable but the end is it's centralized upon getting knowing around here in the community. I'm now using a hot wallet because I can't buy one due to some lack of money but still I have my device that is capable on temporary storage secured people uses different wallet, but when I started electrum wallet already introduce in me so I used this until now I bought a hardware wallet which is the trezor even though not supported all the coin yet still it's secured than before.
Title: Re: What things do you study while choosing a wallet? Post by: tjtonmoy on May 04, 2023, 05:39:09 PM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! Security should be the first concern while choosing any wallet. If you are not able to keep your coins secure, then what's the point of owning the wallet? There are few software wallets that can give you better securities but as they are software, they are not immune to hacking. Keeping that in mind, the best choice should be hardware wallets. Security, storing capability, anonymity - this can offer them all. And transaction fee is not an issue because you can always use custom gas fee for every transaction. If you are storing your BTC for a long time, then use hardware wallet. If you are moving your BTC frequently, then software wallets could give you some advantage. One I can recommend is Electrum. But the user interface and function is a bit complicated. So that should be a concern too. User-friendly interface and easy to use. Title: Re: What things do you study while choosing a wallet? Post by: irhact on May 05, 2023, 06:10:50 AM The things I consider before choosing a wallet is security, the charging rate and the popularity of the wallet. The popularity of the wallet means how many people are using the wallet. A wallet that is well reorganize with much people is not advisable to use. Like Trust Wallet can not be compared to Electrum Wallet. The best wallet from all the wallets I have used is Electrum. Popularity of a wallets doesn't mean the wallet is the best wallet to use. Popularity only means there's a good marketing strategist hired by the wallet owners to promote the wallet and they're been successful doing so. An example is Trust wallet, it's one the most downloaded wallets and very popular but that didn't happen until Binance exchange bought the wallet. What this means is that, without the marketing of Binance exchange, people won't have noticed the wallet to download it and make use of it. We have so many good wallets that aren't been used because they're not popular or associated with big companies in the market. Title: Re: What things do you study while choosing a wallet? Post by: spiker777 on May 05, 2023, 06:15:13 AM There are a lot of cryptocurrency wallets to pay and receive payments. While you choose a wallet, what things do you consider first like technical support, transaction fees or blockchain technology and why and what is the most important thing for you? We should discuss that! the most important thing I see when choosing a wallet and I think everyone should consider that too is that either the wallet is a custodial wallet or non-custodial. always choose a good non-custodial wallet where you have full authority of your keys and funds. although some custodial wallets are also pretty secure but they always have risk of getting hacked or they can even shut down withdraws in some occasions like what happened in recent FTX collapse. but with a non custodial wallets you will not have to worry anything about that and can freely move your funds anywhere you want.Title: Re: What things do you study while choosing a wallet? Post by: Lorence.xD on May 05, 2023, 06:16:26 AM The things I consider before choosing a wallet is security, the charging rate and the popularity of the wallet. The popularity of the wallet means how many people are using the wallet. A wallet that is well reorganize with much people is not advisable to use. Like Trust Wallet can not be compared to Electrum Wallet. The best wallet from all the wallets I have used is Electrum. Popularity of a wallets doesn't mean the wallet is the best wallet to use. Popularity only means there's a good marketing strategist hired by the wallet owners to promote the wallet and they're been successful doing so. An example is Trust wallet, it's one the most downloaded wallets and very popular but that didn't happen until Binance exchange bought the wallet. What this means is that, without the marketing of Binance exchange, people won't have noticed the wallet to download it and make use of it. We have so many good wallets that aren't been used because they're not popular or associated with big companies in the market. Exactly, but for sure those wallet didn't became popular if their services are the worst. Marketing itself won't do good if the users itself know that there's too much lacking in the wallet. But I didn't say that I'm not with you in the popularity itself. There's also an underrated wallets that are much better than the popular ones. The thing is I consider the fact that they are popular so they could assure us the safety and security of our funds. The number of it's user could increase their income for them to improved the quality of the wallets. Title: Re: What things do you study while choosing a wallet? Post by: Josefjix on May 05, 2023, 03:07:12 PM the most important thing I see when choosing a wallet and I think everyone should consider that too is that either the wallet is a custodial wallet or non-custodial. always choose a good non-custodial wallet where you have full authority of your keys and funds. although some custodial wallets are also pretty secure but they always have risk of getting hacked or they can even shut down withdraws in some occasions like what happened in recent FTX collapse. but with a non custodial wallets you will not have to worry anything about that and can freely move your funds anywhere you want. This is cryptocurrency, so we shouldn't expect much and should be prepared for the worst; it's not safe anywhere in the space, and the FTX collapse was entirely the result of hackers infiltrating the security firewall and shutting down the bots. Hacks are routinely seen everywhere, and they are most recent headlines in the market. Keeping our 12 phrasal keys hidden from people because it's dangerous to expose them to the public, not even your best friend should know about it. Non-custodial wallets are simple to use and secure. Traders prefer to utilize these wallets for safer coin storage, as opposed to custodial wallets, which need the presence of a third party.Title: Re: What things do you study while choosing a wallet? Post by: tjtonmoy on May 05, 2023, 05:04:13 PM Yes, I agreed. Security is the main feature to consider and when you get this with Low transaction fees is cherry on top but it's hard to find and it is also as simple as we can use easily and have friendly UI. i suggest you should visit https://coinremitter.com/ (https://coinremitter.com/)on this platform will satisfy all your needs and many more. Because you will get prime security, free plugin and many more with 0.23% processing fees!! To be honest with you, I don't trust most of the things available on the internet. So I am having some doubts using your website. Is there another thread explaining this whole thing that you are providing? I get sometimes confused when trying out new things on my own, and considering that this is a new thing to me, I am facing some issues. Can you show us some tutorials, and how does this work? That would be very helpful for many. And if there's available already, then share that with us please. Also I want to add this too. What's the benefit for using this? Like there are other services same as yours. What's exceptional about yours which will attract more people? Title: Re: What things do you study while choosing a wallet? Post by: MIner1448 on May 05, 2023, 05:51:53 PM As with any technology, there are several key factors to consider when choosing a cryptocurrency wallet:
1.Security: For me, security is the most important factor when choosing a cryptocurrency wallet. I research the reputation and security of a wallet before deciding to use it. I also check if the wallet uses multi-factor authentication, what encryption protocols and other security measures it takes to protect my assets. 2.Tech Support: I think it's important to have access to qualified tech support in the event of a problem with your wallet. Therefore, when choosing a wallet, I pay attention to the availability of technical support and the response time to my requests. 3.Transaction fees: Transaction fees are also an important factor to consider when choosing a cryptocurrency wallet. I usually look for wallets with low transaction fees to save money on transfers. 4.Usability: Finally, I consider the usability of the wallet. I choose wallets with a simple and intuitive interface, so as not to spend a lot of time learning its features. Of course, everyone can have their own priorities when choosing a cryptocurrency wallet. But I believe that given these key factors, you can find the wallet that best suits your needs. |
