Bitcoin Forum

 I decided to buy a wallet and try to make money on the crypt. Which one to choose, is there at a price of more than $ 200 is there less, what to pay attention to? It is for a beginner, I don't want to lose a lot of money if something doesn't work out.

You should read this guide first (https://bitcointalk.org/index.php?topic=1631151). Suggestions in general, open source (https://bitcointalk.org/index.php?topic=5288971) hardware wallets are more recommended.

The average hardware wallet price for the light versions is only around $50 to $80, just check here (https://bitcointalk.org/index.php?topic=5282364) to suit your budget preferences (latest prices may change, better check on the official website).

Buy this wallet
https://shop.ledger.com/pages/ledger-nano-x
I have about 14 applications and half of the wallet memory is occupied, and about 100 applications, which the wallet manufacturer says, this is a strong exaggeration. But you can trade on a computer and phone. I have not regretted buying this model after several years of use.

Talking about service,  the Nano x wallet device has a long life span unless you subject the device to intense pressure heat or other destructive actions,  if not the design is for long-term durability and from a price of $100 or above you can get one.


But also note that there are other recommended online wallets such as the electrons wallet and blue wallet with a host of others,  that can give you good services also as a beginner.

Ledger or Trezor.

These are the most common hardware wallets that you can choose from. You'll have no problem with their reputation because if someone is mentioning about hardware wallets, these two will always be in front of the talks.

Your $200 is already more than enough and you can even have both of it.

Okay, I'll take it from scratch. What are your goals regarding cryptocurrencies? Are you aiming to acquire Bitcoin and/or other altcoins as well, or do you already own crypto? I can't fully comprehend what you mean. If it's simply for Bitcoin, why don't you get started with Electrum, and you can move to a hardware wallet such as Ledger or Trezor, both of which are quite affordable too, in the future, when you're more familiar with cryptocurrencies too? I don't believe that it's absolutely necessary to start with a hardware wallet unless you're holding an amount worth over $1,000 or $2,000 and desktop wallets don't seem safe enough for you, which they are, depending on how you use your PC. If you're downloading torrents 24/7, don't expect to be malware-free.

@OP I think you're meant an exchange, not a wallet isn't? as you said you want to make money on crypto and don't want to lose a lot money.

The most safest wallet is hardware wallet which cost minimum of $50. Hardware wallet is non custodial, you can't buy coins from there, you need an exchange to buy crypto.

I don't think P2P or DEX is convenient for trading, so I recommend to use CEX. When you have buy crypto in CEX, you need to pay trading fee and when you move your coins to your wallet, you need to spend more money for withdrawal fee. I heard Kraken seems offer a cheap trading and withdrawal fee, but I don't know now since the fee is quite higher than before.

Hardware wallets vary, especially if you have enough capital to buy it, just choose which one is your criteria for the hardware, I think the list shown by @noorman0 is complete, but the most common ones are Trezor and Ledger, maybe you can see the advantages and disadvantages of youtube reviews or here.

I myself am a Trezor user to store bitcoin while Ledger will be my collection later now it is still in the shipping process.

As a beginner, you must first understand what will be needed so that when you are ready to buy, you already know the function and can operate it properly.

BUY CRYPTO IN LEDGER LIVE
https://www.ledger.com/blog/buy-crypto-in-ledger-live
This feature, operated by our partners Coinify and Wyre, is available directly in the Ledger Live application. Pick your favorite crypto among Bitcoin, Ethereum, Bitcoin Cash, Stellar, USDT, Polkadot, Litecoin, Chainlink, MakerDao, Dogecoin, Uniswap, Compound and many more. Find out more about options, eligibility and payments methods here.
https://www.ledger.com/blog/buy-crypto-through-ledger-which-provider-is-made-for-me

But if you want to be anonymous, it is better to buy cryptocurrency for cash.

What is Neno? Never heard of that kind of wallet device before.

---

Folk, when suggesting the best wallet for someone, please keep updated to avoid misinformation. Firstly, Ledger wallets are not open source like trezor wallet

Secondly, there is something going on with ledger, and this would not be the right time to recommend someone to buy any of their wallets  ;)

Read this thread for more information: Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities (https://bitcointalk.org/index.php?topic=5452900.0)

You don't have ask a numerous question again because the answers to your question has already be give by noorman0, just click on those links dropped in his comment, you will read and understand exactly what wallet you should use, secondly when you have achieve or known of something that made you to ask questions, just try and study it and also lock your thread.

You could really be having these choices

Electrum (Bitcoin) - Non-custodial - ITS TOTALLY FREE  https://electrum.org/#home
Myetherwallet (ERC20) - Non-custoridal - ITS TOTALL FREE http://myetherwallet.com/

If you do talk about Hardware wallets which is considerable specially if you've been holding tons of coins.
Then you could choose up in either two.

Trezor - https://trezor.io/
Ledger- https://www.ledger.com/

Just visit out the sites and you would be able to surf and searched out on what best first for you.
Just remember: Not your Keys, not your coins.  ;D

you don't need to spend $200 to own hardware wallets, they are much cheaper.  the 2 most popular wallets today are Ledger and Trezor, but there is some unclear information about Ledger wallets, so I recommend you get yourself an affordable Trezor wallet, and the one thing it excels in is open source. For a bitcoin investor, storage is extremely important knowledge, I'm glad you've been interested in it since you were a newbie.

There are open source non custodial wallets and they are free to use. You don't have to spend money to buy and use open source wallets.

You can consider to buy hardware wallets.
[LIST] Open Source Hardware Wallets (https://bitcointalk.org/index.php?topic=5288971.0)
If you want to buy Ledger wallet, consider it carefully and you can choose another hardware wallet as Ledger just makes a bad movement.
Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities (https://bitcointalk.org/index.php?topic=5452900.0)

Reminder: do not keep your money in online accounts (https://bitcointalk.org/index.php?topic=5421039.0)
[General] Bitcoin Wallets - Which, what, why? (https://bitcointalk.org/index.php?topic=1631151.0)

Make your wallet backups, don't forget this step.

Currently, there is an issue with the Ledger wallet that pissed off their customers regarding their TOS. I think it's for the new hardware where they decide to allow users recovery of seed. From what I understood, they are going to send the seed to 3rd party for the seeds to be kept.

This is the article I've read. https://www.coindesk.com/tech/2023/05/16/ledger-bats-back-criticism-of-new-wallet-recovery-service/

People are already saying this is not an opensource wallet so seems very sketchy to just trust them about it. I wanna hear some opinions from you gus about this.

Depend on your trading kinds and which one exchange do you choose dapp or CEX, recommended under $200 capital trade on CEX exchange you can choose like Binance, Kucoin and Huobi. As beginner easy with small fund trading on CEX exchange without have to pay higher fees transaction when trading than on dapp exchange have to pay higher fees exactly ERC20 network trading on UNISWAP.

But if you want to be long term holding or investor you can choose hardware wallet for saving you investment assets than exchange, depend on your decision which one method to earn in cryptocurrency as short term or long term holding. If you want spent $200 in hardware wallet you need purchase early 30$ until 50$ for paying hardware wallet tools.

If you are only going to invest $200. Then just keep it on the exchange. Basically get a unique password, use non sms 2fa and don’t click any phishing links and your exchange will keep it safe for you.

You can get hardware wallet but for amounts that low it’s not worth it. You can try using electrum offline which would be free. Try and search this forum for instructions.

I think ledger is what you are looking for since this hardware wallet worth less than $200. This is very secured and it's recommendable to keep all your assets in here especially if your investment worth a lot of money. But if you're only using ledger to keep just a small value of cryptocurrency, I wouldn't recommend to use it. There are many secured software wallets out there where you can keep it. I've been using Electrum wallet for awhile and I found no issue with it, so better to keep it there. I think it's practical to add your $200 into a coin or a token you're currently invested rather than buying a hardware wallet.

Buy passport. It is the best hardware wallet that I see now.

Trezor is my best before if you know about adding passphrase to your wallet while creating a wallet with it. Because without the passphrase, Trezor is not safe if stolen. An attack can be done if a thief stole the hardware wallet.  Adding passhrase will let that not to happen. I like Trezor before the introduction of coinjoin with the help of wasabi wallet.

Bitbox02 is perfect except that it supports AOPP which many people do not like. It is only applicable to those in their country Switzerland, but it can be like a virus that can spread to other countries, people do not like Bitbox02 for that reason. But it is a very secure wallet that can be used.

You have to exclude Ledger because it is one of the worst wallets that you can buy right now.  If you want to know why, you can read this two topics:

@theymos - Time to update the current Ledger situaion @ Important Announcements? (https://bitcointalk.org/index.php?topic=5452980.new#new)
Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities (https://bitcointalk.org/index.php?topic=5452900.msg62251240#msg62251240)

Read the second topic which is the most important and can be seen on the first topic. Ledger is becoming stupider day by day.

Thank you for sharing. I had no idea that Ledger wasn't as safe as it was thought to be. I'm also planning to purchase a hardware wallet soon and was considering one of the two major brands. I would have bought one, but I'm currently away from home. Trezor is currently running a promotion for 15% off; the basic version starts at €58, which is nothing compared to the safety of your funds. Desktop wallets are generally safe, but the environment is usually the issue because of possible threats such as malware or keyloggers; thus, a hardware wallet is an ideal way to protect your funds without too much hassle.

A beginner should first understand how much amount he wants to invest and for how many days he wants to hold it.  If the amount is small then I don't think it makes sense to waste money on buying a hardware wallet.  But if the investment amount is a bit big then it is better to buy hardware in that case. However, only $50 is available to buy a hardware wallet.  Such as Sefpal, Ledger or Trezor.  But if you want to invest less amount then in that case you can use non-custodial wallet in the beginning it will also give security to your investment.

Essentially, understanding about bitcoin phases and dealing with intricate bull and bear seasons.Trading strategy is critical because we are talking the level that is appropriate for your funds. Choosing leading exchanges like Binance and Kucoin can help you acquire more profits and trading base. Perhaps trading fees reduced base on the kind of exchange a trader uses, they varies. Losses will be minimized as long as a rookie follows instructions. One thing that leads to losses is when a trader is desperate to make gains, he or she takes decisions based on emotions, which do not always end well.

But OP wants to be safe, although I agree with you that keeping that in exchange might be the best option, maybe OP is considering increasing his/her investment if the wallet that OP will buy will prove to be effective for storing OP's crypto.

To OP,  you should consider factors such as security, ease of use, supported cryptocurrencies, and compatibility when choosing a wallet, don't have to sweat out that part though, as long as it's right in your budget and you're happy with it.

Safepal is a close source wallet, it is cheap to buy, but it is one of the wallets I can not tell anyone to buy when there are good ones. It is better to buy a better wallet like Passport or Trezor.

Ledger Nano is not good too.
https://bitcointalk.org/index.php?topic=5452900.msg62251240#msg62251240

If you care about your seed phrase and private keys, if you care about your privacy, if you care about how your wallet is generating and storing seed phrase, do not use any Ledger lab wallet.

Hardware wallets are noncustodial wallets, just like noncustodial online wallets, only the difference between them is that the private key of hardware wallet is not created online and not online, unlike online wallets.

Are they stupid? I don't know because I don't know what is their reason to build that service and put customer coins at risk.

Bitcoin Q&A: Why is Seed Splitting a Bad Idea? (https://www.youtube.com/watch?v=p5nSibpfHYE)

Do they build something better like Shamir Secret Sharing ?

A beginner guide to Shamir Secret Sharing (https://medium.com/@keylesstech/a-beginners-guide-to-shamir-s-secret-sharing-e864efbf3648)

I will not buy a hardware wallet with my money and face with risk to lose my coins because the seed is shared to three entities.

As a beginner, I assume you are still learning to understand the concept of crypto. So maybe I wouldn't suggest buying a wallet but instead using an existing wallet. You can even look it up yourself.

That's the least you can do to learn to store your crypto assets because, as a beginner, you need time to start buying and transferring the assets you buy on exchanges. And if your focus is only on Bitcoin, you can use Bitcoin Core to store Bitcoin. And if you start buying altcoins, I think you can store those altcoin assets in a wallet that supports altcoins. Don't rush into buying a hardware wallet if you don't understand how to store crypto assets for the long term.

Buying wallet will just be a waste of resources since since he is new for sure he will just buy few tokens to test out his crypto investments and instead thinking about buying those hardware wallet better to use it to add this on his capital. There are current wallets available and I think newbie friendly and he could choose electrum or coinomi for BTC wallet also metamask for ERC tokens storing. Although there's risk for using this but he just need to be more careful upon executing transaction or pasting his private key on any platform.a

Your decision to buy a crypto wallet is a very good one and it will prove very beneficial to you. Well there are plenty of crypto wallets but I think if you want a good wallet at a low price then safepal can be a great choice.I bought this wallet myself and I am very satisfied with it. There are other crypto wallets but their prices are higher than this wallet, for example you can get ledger nano x but its price is much higher than its price.

It can be a good option for you due to good security and low cost.One thing to keep in mind is that never buy it from the online application but buy it through its official website,because scammer are everywhere they can cheat you through online application.

Well, there have been many talks about avoiding using Ledger Hardware wallet, because they are going to release a new update of Ledger Recover, which could help you to extract your Seed phrase if you have lost it, Its is a paid service by them and currently not released only the news making so much fire. You should checkout the following Threads if you planned to buy Ledger.

• Never, ever, buy your hardware wallet from a third-party (https://bitcointalk.org/index.php?topic=5446514.0)
• Ledger hardware wallet offering custody for seed backups (https://bitcointalk.org/index.php?topic=5453142.msg62260560#msg62260560)
• Where do you buy a hardware wallet - online or offline? (https://bitcointalk.org/index.php?topic=5453031.msg62255887#msg62255887) 

Secondly, You could go for any other wallet such as Trezor or for Electrum (you have to integrate Electrum into the Hardware wallet). So, if you are a newbie and have less knowledge then I don't prefer you to use it. (but you can easily handle the Hot wallet of Electrum).

Tips*
1. Do not fall prey to phishing scams and buy a wallet that costs you less.
2. If you have big pile of BTC then i prefer you to use Hardware wallets otherwise you can save your money by storing your BTC on different exchanges or hot wallets (i know exchanges are not a good option but for some it is) so it's up to you.
3. Always check whether the wallet you are going to use is open source or close source. --> experts used to say open source are better.

Ledger created that in a way that Ledger users that opt-in for it will not be able to lose their coins even if they lose their seed phrase. It is making use of Shamir secret sharing, in a way each company has the seed phrase shard or so which can be combined and be used to recover the seed phrase. But this can make the seed phrase security to be vulnerable and also giving way to the government to have more control. I will not tell anyone to use it because it is bad in my opinion. There is nothing better than having your seed phrase backups offline.

I predict that users on this forum will refrain from recommending to buy any devices from the Ledger - Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities (https://bitcointalk.org/index.php?topic=5452900.msg62251240#msg62251240)


The same goes for Trezor.

It seems that the times when one could hear Ledger or Trezor to OP's question "Which wallet should a beginner choose?" are irrevocably leaving bitcointalk, because the trust in the largest manufacturers of hardware wallets has been completely undermined. All hope remains only on small companies who still value their reputation. o_e_l_e_o recommends one of these above. Moreover, the price of this device is within 199$, excluding delivery. So, OP, pay attention to this.

At least, that's what I thought, and I positioned myself as a beginner. Buying a wallet costs money, and many newbies do not have so much money that they don't need to buy a hardware wallet yet. He can choose Electrum or Coinomi, as you suggest, and it's free because he just needs to download it to his phone and can use it immediately. But he must also know how to secure his wallet from people with bad intentions. And later, after he can get the benefits from investing, he can buy a hardware wallet that suits him.

Yes other wallets are better than Safepal like Ledger or Trezor but they are more expensive.  Since op is a new investor he may not have high amount so in that case he can use cheap wallet for now that's why I mentioned safepal. op can buy any wallet he wants it's his personal matter

Because of this he should first use non-custodial wallet as it is completely free and secure enough.  I haven't bought a hardware wallet yet, I've been using non-custodial wallets for a long time without any issues

There are good and easy to use Bitcoin wallets that you can get for free online, why waste money paying for one when you're still finding your way in this industry. Try Electrum wallet (someone already supplied the link above). It's free and on Android Playstore. See if your interest in Bitcoin remains high before doing further investment on wallet purchase. BTW, what did the person who introduced this forum to you tell you regarding this or you stumbled on this forum without a mentor like me too?

There is no need to mention it but many newbies knows this already because how will they know to operate a crypto wallet or to get started with crypto if they don't start at the very beginning which is the learning part?

The more we allocate time and make things seriously when it comes to learning, the more we become successful. Things that can come in our way will now became easy to understand. Results of our work depend on our knowledge and not in the wallet that we are using but it is important to pick up a wallet that is reliable at all times. I guess our fellow members named those wallets already. The OP can just pick one or two of them.

When it comes to wallets you need to be extra careful as a trader I think our funds keep moving so obviously we don't need cold storage and also to get started this is not necessary to have a Hardware cold storage wallet. We can go with some Open source decentralized hot wallet if we want to trade on DeXs but if you are trading on the CEX I think Binance exchange offers ann n in-built Hot wallet for funds transfer by following a few prerequisites you can securely store your funds.

You've been trying to think of the important things in doing things with Bitcoin.
There are already more than a few people recommending to you which wallet you should buy at an affordable price with the aim of helping you.
Once you find a suitable wallet, put it to good use even if the hardware wallet you choose has good security.

Hardware wallets are great for large, long-term storage.
For less asset storage, software wallets like Electrum can still be used as storage although using a hardware wallet to store provides a lot of convenience that doesn't require much work to be done.

As newbie in crypto, it's important to start with a wallet that is user-friendly, secure, and doesn't cost too much. There are two main types of wallets - hardware wallets and software wallets. Generally, hardware wallets is physical devices that store your cryptocurrency offline, making them more secure. Software wallets are apps or programs that you can install on your computer or smartphone. For a beginner, a software wallet might be more suitable due to its ease of use and lower cost.

Make sure to choose a wallet with good security features, such as two-factor authentication (2FA), and a strong backup and recovery process. This will help protect your funds in case something goes wrong. Check if the wallet supports the cryptocurrencies you're interested in trading. Some wallets only support a limited number of coins, so it's essential to choose one that meets your needs.

Given that this hardware wallet costs less than $200, I believe ledger is what you're searching for. All of your assets should be kept in this location because it is quite secure, especially if you have significant financial investments. However, I wouldn't advise using a ledger if all you plan to do is store a tiny amount of cryptocurrency. You can store it in any number of secure software wallets. It's best to keep it there because I've been using Electrum wallet for a while and haven't had any problems with it. Instead of purchasing a hardware wallet, I believe it is more practical to add your $200 to a coin or token in which you already have invested.

As someone who has only ever used Ledger Nano X, I can recommend you to use this wallet. Its biggest advantages are that it is very easy to use, proven in its sector and works in sync with its mobile application. It is also my preferred wallet as it supports many cryptocurrencies and NFT's. When we look at the product price, we can see that it is 149 on a unit basis, depending on the currency of the country you live in. So, to state my own opinion, I think it would be a pretty good option within your budget.

Since you are a beginner here I would suggest you not to buy a hardware wallet in the first place. You can use Electrum wallet in the first instance. Electrum wallet firstly you collect phase offline then you account online then your account is very safe. This electron wallet to collect your btc is very security complete and safe. I myself use this Electrum wallet so I don't think you need to buy a hardware wallet with money. Plan to buy a hardware wallet later when you can earn from it.

Hey fellas just took a glance at OP's post history and it seems he doesn't give any damn shit for the threads he created so this isn't really a valid question so stop bothering you by replying to this spammers.

@OP if you don't really have the intention of coming back to the threads you created then just don't create anything further. >:(

I am paper wallet guy these days. Yes I have invested in the hardware wallet and it’s entirely different story for me when it comes to keeping safe and carrying it around or making sure that physical wallet is safe and sound. I am not sure what would be your impression on this but I would suggest to buy any of the mentioned wallets above the only stuff is you have to handle it careful. Imagine hardware wallet like a pen drive and we all know what happens to them and how they get lost all the time. No I am not putting you down from buying it but just make sure you are ready for that. Well, I have taught myself that paper wallets are even way better than this and you could keep bitcoin safer in them.