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Other => Beginners & Help => Topic started by: Lauda on September 29, 2016, 07:53:17 PM



Title: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on September 29, 2016, 07:53:17 PM
What is a General thread?
This is one of the first of (probably) many general threads that will be created in this subsection. A General thread will contain relevant information related to the question/subject of the title thus duplicate threads related to it are not allowed. Posts within a general thread will be harshly moderated and anything remotely useless will be removed. These threads are supposed to be informational, and reposting similar information multiple times is not allowed. You are free to discuss information that has been posted, but keep it short and civil (more than 5 replies is too much). Questions about information provided in this thread are not allowed either.

What are General threads for?
General threads are meant to be used as an overview of useful information and to prevent unnecessary duplicate threads within the section. After 10 pages this thread will be closed and a "[General] Bitcoin Wallets - Part n+1" will be created, which will contain an updated list of good information. This process will constantly be repeated. The reason that this approach was chosen is to prevent long threads in which people don't find what they are looking for and to provide the most up-to-date information.




Overview - Table of contents
Click the link to go to that part of the post

Types of Wallets (#post_types)
Universal Wallets (#post_universal)
Desktop Wallets (#post_dekstop)
Mobile Wallets for Android (#post_mobilea)
Mobile Wallets for iOS (#post_mobilei)
Online Wallets (Web Wallets) (#post_online)
Paper Wallets (#post_paper)
Hardware Wallets (#post_hardware)
Best practice handling Bitcoins (#post_bp)
How to Store Bitcoins (#post_store)

Types of Wallets
There are many different ways to use Bitcoin and so there are many different types of wallets:
  • Online bitcoin wallets. Wallets that can be accessed on the web from any internet connected device.
  • Software wallets. Wallet applications downloaded to your phone, computer or tablet.
  • Bitcoin hardware wallets. Physical devices designed to secure bitcoins.
  • Paper wallets. Bitcoin private keys printed from an offline computer.

Here are some factors to consider when choosing a wallet:
  • On the go? If you are making payments in person and not online then a mobile wallet like Copay (iOS & Android), breadwallet (iOS) or Mycelium (Android) is a must.
  • 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.
  • 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.
  • Use combinations: Use a mobile wallet as your checking account, and a hardware or secure offline wallet as your savings account. Mix and match to find a combination that provides both security and accessibility.



Universal Wallets

Copay (https://copay.io/)
Copay is a Bitcoin wallet by Bitpay and available on iOS, Android, Windows Phone, Linux, Max OS X, and Windows. Because Copay is available on multiple platforms, it’s easy to use the same wallet or accounts across multiple devices.
Copay’s simple, clean user interface makes it a good choice for new Bitcoin users. Copay is also a good option for businesses due to a shared account feature, which requires a certain number of users to sign each transaction. Two co-founders, for example, could create a 2 of 2 wallet where both will be required to sign each transaction.



Desktop Wallets
Desktop wallets are software wallets that are downloaded and installed on your computer. The desktop wallets below are available on Mac OS X, Windows, and Linux.

Bitcoin Core (https://bitcoin.org/en/download)
Bitcoin Core is the “official” Bitcoin client and wallet, though isn’t used by many due to slow speeds and a lack of features. Bitcoin Core, however, is a full node, meaning it helps verify and transmit other Bitcoin transactions across the network and stores a copy of the entire blockchain. This offers better privacy since Core doesn’t have to rely on data from external servers or other peers on the network. Bitcoin Core routed through Tor (https://www.torproject.org/) is considered one of the best ways to use Bitcoin privately.

Armory (https://btcarmory.com/)
Armory is the most mature, secure and full featured Bitcoin wallet but it can be technologically intimidating for users. Whether you are an individual storing $1,000 or institution storing $1,000,000,000 this is the most secure option available. Users are in complete control all Bitcoin private keys and can setup a secure offline-signing process in Armory.

Electrum (https://electrum.org/#home)
Electrum may be the most popular desktop wallet, due to its speed and ease of use. Electrum can also be used as cold storage if you have an extra computer that can be used offline. Additonaly, Electrum offers other features like connecting through Tor, multisiganture wallets, integration with hardware wallets, and more.



Mobile Wallets for Android

Mycelium (Android) (https://play.google.com/store/apps/details?id=com.mycelium.wallet)
Mycelium is a favorite among experienced Bitcoin users. It’s an HD wallet with many advanced features, like support for hardware wallets TREZOR and Ledger, watch-only accounts, cold storage spending, and Tor.

Bitcoin Wallet (https://play.google.com/store/apps/details?id=de.schildbach.wallet)
Bitcoin Wallet was the first Bitcoin wallet for Android. It’s simple, easy to backup, and connects directly to the Bitcoin network with SPV.

Airbitz (https://play.google.com/store/apps/details?id=com.airbitz)
AirBitz is another Bitcoin wallet that’s great for everyday use. It’s integrated with Fold, meaning you can get 20% discounts at Starbucks from within the wallet.
Airbitz manages accounts with usernames and passwords, but doesn’t have access to your funds. This type of account creation is easier for less technical users who may have trouble backing up or understanding HD seeds.

GreenBits (https://play.google.com/store/apps/details?id=com.greenaddress.greenbits_android_wallet)
GreenBits is the native version of GreenAddress. It’s fast, simple, and supports hardware wallets TREZOR and Ledger Nano/HW.1.

Electrum (Android) (https://play.google.com/store/apps/details?id=org.electrum.electrum&hl=en)
Electrum is among the most popular wallets, due to its speed and ease of use. Electrum can also be used as cold storage if you have an extra computer that can be used offline. Additonaly, Electrum offers other features like connecting through Tor, multisiganture wallets, integration with hardware wallets, and more.



Mobile Wallets for iOS

Breadwallet (https://itunes.apple.com/il/app/breadwallet-bitcoin-wallet/id885251393)
Breadwallet’s combination of simplicity and security has made it the most popular iOS wallet. iPhone users in search of their first Bitcoin wallet should findBreadwallet easy to understand.

Copay (https://itunes.apple.com/us/app/copay/id951330296)
Copay is available in the App Store. Click here for more details.

Airbitz (https://itunes.apple.com/us/app/bitcoin-wallet-airbitz/id843536046)
AirBitz is also available in the App Store.



Online Bitcoin Wallets
Online Bitcoin wallets, or web wallets, store your private keys online. Wallets can only be accessed with a user-set password.

GreenAddress (https://greenaddress.it/en/)
GreenAddress is a multisig web wallet, with apps available for Chrome, iOS, and Android.

BitGo (https://www.bitgo.com/wallet)
BitGo is a high-security multi-sig wallet, which protects your bitcoin from theft and loss. You maintain full custody; BitGo cannot spend or freeze funds. BitGo wallets are easy to use and offer advanced security features such as spending limits and multi-user access

Coin.Space (https://coin.space/)
Coin.Space HD Wallet is a free online bitcoin wallet, which you can use to make worldwide payments for free. It makes paying with bitcoins easy and secure available anywhere on your phone or desktop.

Xapo (https://xapo.com/)
Xapo combines the convenience of an everyday Bitcoin wallet with the security of an insured deep cold storage vault. Xapo Debit Card links to your Xapo Wallet and allows you to spend bitcoins at millions of merchants all around the world.

Blockchain.info (https://blockchain.info/wallet/)
Blockchain.info is a user-friendly cross-platform online wallet. It is one of the most widely used, wallets with 2FA today with over 10 Million unique wallets created. It is recommended that you always use the browser extension and email backups.



Paper Wallets
Paper wallets were the standard method of  cold storage (https://www.weusecoins.com/bitcoin-cold-storage-guide/) before hardware wallets were built. Paper wallets are private keys printed out on a piece of paper. If generated and printed with a secure, offline computer, paper wallets are secure cold storage.

The main problem with paper wallets is it can be inconvenient to create and print a new wallet each time you send funds to cold storage. However, it’s possible to bulk print paper wallets to save time and eliminate address reuse. Here's a cold storage guide which explains step-by-step  how to create a secure paper wallet (https://www.weusecoins.com/bitcoin-cold-storage-guide/).



Hardware Wallets
Hardware wallets are small computers or smartcards built with the sole purpose of generating Bitcoin private keys offline. Hardware wallets securely sign transactions in the same offline environment.

Ledger Nano (https://www.ledgerwallet.com/products/1-ledger-nano)
The Ledger Nano is a smartcard based hardware wallet. Private keys are generated and signed offline in the smartcard’s secure environment. The Nano is setup using the Ledger Chrome Application. A random 24-word seed is generated upon setup and backed offline by writing it down on a piece of paper. In case of theft, damage or loss, the entire wallet can be recreated with the seed. A user selected PIN code is also assigned to the device to protect against physical theft or hacking.
The Ledger Nano may be used on any computer, or Android phones with Mycelium or GreenBits.

Trezor (https://www.buytrezor.com/)
The TREZOR differs from the Ledger Nano in that it’s a very tiny computer rather than a smartcard. Private keys are still generated offline.
TREZOR also generates a 24-word seed upon setup. The TREZOR has its own built in screen where the seed is displayed and copied down during backup. Since the TREZOR is an offline device it offers extra security since the seed isn’t displayed on an online computer.
An additional passphrase can be added to the 24-word seed. This provides extra protection, since anyone who finds someone else’s 24-word seed is free to access the funds. If the optional passphrase is added, an attacker still wouldn’t be able to access funds without both the seed AND the passphrase. If the passphrase is forgotten, it cannot be recovered.

OPENDIME (https://opendime.com/)
The first Bitcoin Bearer Bond or called a Bitcoin Stick. Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill. Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. Trust no one.
Acts like a read-only USB flash drive. Works with any computer, laptop, and phone. A QR Picture and Text file inside contain Bitcoin address and support. The private key is generated inside the device, and is never known to any human, not even you!
The Bitcoin world changes fast but Opendime is built on the fundamental Bitcoin features that have not changed in five years. Give an Opendime to anyone and they don't need to worry that you can take back the funds later.
You have got the private keys in the device. This is physical Bitcoin as it was meant to be to just hand it to someone and they have got it. Pass it on multiple times! Simple as a handshake. No miner fees, no confirmation delays.
Uses Bitcoin message signing, normal (non HD) bitcoin payment addresses and private keys in WIF format.

Ledger HW.1 (https://www.ledgerwallet.com/products/3-ledger-hw-1)
The Ledger HW.1 is a more affordable version of the Ledger Nano.

Ledger Unplugged (https://www.ledgerwallet.com/products/6-ledger-unplugged)
The Ledger Unplugged is a credit card-size wireless hardware wallet. Private keys are generated offline. Transactions are signed on the device and sent to a mobile phone via NFC. The Ledger Unplugged is ideal for everyday use, since the device fits perfectly into wallets and no OTG cable is required.



Best Practices
Bitcoin lets you control your money, meaning you are responsible for both your money’s security and your financial privacy. Here are some steps you can take to ensure your privacy and security:

Control your private keys
Services like Coinbase and Circle offer “Bitcoin wallets”, but in reality control your private keys. It’s best to use a wallet where you control your private keys. This is the only way to have full control of your funds and not have to rely on third parties for security.

Protect your privacy
Each time you request blockchain data from a wallet, the server may be able to view your IP address and connect this to the address data requested. Each wallet handles data requests differently. If privacy is important to you, use a wallet that downloads the whole blockchain like Bitcoin Core or Armory. Tor can be used with other wallets to shield your IP address, but this doesn’t prevent a server from tying a group of addresses to one identity. For more information, check out the  Open Bitcoin Privacy Project (http://www.openbitcoinprivacyproject.org/) for wallet rankings based on privacy.

Don’t reuse addresses
Most Bitcoin wallets today automatically create a new address for each transaction. Since all Bitcoin transactions are public, address reuse makes it easy for others to group transactions and understand which payments are connected to one identity.

Use different wallets for different sums of money
Just like you don’t walk around with your savings account as cash, there are different Bitcoin wallets that should be used depending on how much money is being stored or transferred. Secure wallets like paper wallets or hardware wallets can be used as “savings” wallets, while mobile, web, and desktop wallets should be treated like your spending wallet.

Create multiple secure backups
Users should create multiple backups of their wallets. Backups should be kept in separate physical locations in the case of fire or water damage. Paper wallets can be laminated or written in metal for extra protection.



How to Store Bitcoins
Earlier it was mentioned that there are four types of Bitcoin wallets: online wallets, hardware wallets, software wallets, and paper wallets. These four categories can be broken down further into different kinds of storage and security:

Hot Wallets
Hot wallets refer to Bitcoin wallets used on internet connected devices like phones, computers, or tablets. Because hot wallets run on internet connected devices there is always a risk of theft. Think of hot wallets like your wallet today. You shouldn’t store any significant amount of bitcoins in a hot wallet, just as you would not walk around with your savings account as cash.
If only used with small amounts, hot wallets should be used for your everyday Bitcoin needs. One may, for example, want to keep $200 worth of bitcoins in a hot wallet for spending, with $10,000 locked away in cold storage.

Custodial Services
Although often called Bitcoin wallets, services like  Coinbase (https://www.coinbase.com/) and  Circle (https://www.circle.com/en) aren’t true Bitcoin wallets. Customers private keys are held by these third party services, meaning users don’t really have control of their money. As Bitcoiners often say: “if you don’t control the keys, you don’t control the coins”. Mt. Gox (https://en.wikipedia.org/wiki/Mt._Gox) is an extreme example, but one that illustrates the importance of holding private keys. Gox was the first and largest Bitcoin exchange up until 2013. Thousands of users stored more than 800,000 bitcoins in their Gox accounts.

At the time, one may have claimed to have 1,000 bitcoins in a Gox account. While true at the time, as soon as Mt. Gox claimed to have been victim of theft users with bitcoins in their accounts were left empty handed. Services like Coinbase and Circle may in fact use good security practices and there’s a chance your bitcoins are safe. But by storing bitcoins with a third party you are always taking on additional risk.

Cold Storage
Cold storage is achieved when Bitcoin private keys are created and stored offline. Private keys stored offline are more secure since there is no risk that a hacker or malware could steal your coins.
There are three ways to create cold storage: paper wallets, hardware wallets, and software wallets run on offline computers. Think of cold storage as your savings account. Use it to securely store bitcoins that you don’t plan to spend.

Multisignature Wallets
Multisignature wallets like  Copay (https://copay.io/) make it easier to share control of bitcoins between multiple parties. If created offline, multisig can also make cold storage more secure.

Multisignature wallets require multiple parties to sign transactions in order for funds to be spend. In a 2-2 wallet, for example, both parties must sign a transaction. In a 2-3 multisig wallet, two of the three co-signers must sign each transaction.

Armory Multisig
Armory offers a Lockbox feature that requires any amount of up to seven co-signers to approve shared transactions. A Lockbox is created by one party who adds additional public keys as co-signers. This solution provides a mix of flexibility and security for personal use or organizations.
Armory’s fragmented backups is another useful feature. Instead of requiring multiple signatures for each transaction, fragmented backups require multiple signatures only for backups. A fragmented backup splits up your Armory backup into multiple pieces, which decreases the risk of physical theft of your wallet. Without a fragmented backup, discovery of your backup would allow for immediate theft. With fragmented backup, multiple backup locations would need to be compromised in order to obtain the full backup.
Here's a look at some everyday use cases for multisig:

2-2 Wallet
Two business partners work together at a startup. They create a 2-2 multisig wallet so that no funds can be spent without the permission of both founders. If one tries to create a transaction, the other partner will be required to sign off on the transaction before money can be moved.

2-3 Wallet
A 2-3 multisig wallet could be used to create secure offline storage with paper wallets or hardware wallets. Users should already backup their offline Bitcoin holdings in multiple locations, and multisig helps add another level of security. A user, for example, may keep a backup of a paper wallet in three separate physical locations. If any single location is compromised the user’s funds can be stolen. Multisignature wallets improve upon this by requiring instead any two of the three backups to spend funds--in the case of a 2-3 multisig wallet. The same setup can be created with any number of signatures. A 5-9 wallet would require any five of the nine signatures in order to spend funds.




Credits: A huge shoutout to WeUseCoins (https://www.weusecoins.com/) for making an extremely detailed list (https://www.weusecoins.com/en/find-the-best-bitcoin-wallet/) which was used during the creation of this thread.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: suzanne5223 on October 18, 2016, 03:46:26 PM
Thanks for the interesting information and it nice to learn more about wallet and how they operate. However, I was once told that to get a paper wallet I must buy it but with the information provided at the OP nothing of such was mention. My question, is the paper waller for free and is it secure if I follow all the necessary procedure provided by the OP?
Thanks


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 19, 2016, 05:39:32 PM
However, I was once told that to get a paper wallet I must buy it but with the information provided at the OP nothing of such was mention.
No, you don't have to buy anything besides paper obviously. A paper wallet is literally a wallet on a piece of paper (it could be any kind of paper, e.g. the one you use in your printer).

My question, is the paper waller for free and is it secure if I follow all the necessary procedure provided by the OP?
Thanks
While I personally can not guarantee safety, as the guide was not written by me, it does look good enough (especially for newbies). Just make sure that you don't generate online, and that the machine is fresh/clean.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: suzanne5223 on October 21, 2016, 09:39:40 PM
However, I was once told that to get a paper wallet I must buy it but with the information provided at the OP nothing of such was mention.
No, you don't have to buy anything besides paper obviously. A paper wallet is literally a wallet on a piece of paper (it could be any kind of paper, e.g. the one you use in your printer).

My question, is the paper waller for free and is it secure if I follow all the necessary procedure provided by the OP?
Thanks
While I personally can not guarantee safety, as the guide was not written by me, it does look good enough (especially for newbies). Just make sure that you don't generate online, and that the machine is fresh/clean.
If I understand you correctly. In other to get a safe wallet code I will have to generate the code using an offline computer? Meanwhile,you're lengend here and you should know which of this wallet is safe and secure.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 21, 2016, 09:43:06 PM
If I understand you correctly. In other to get a safe wallet code I will have to generate the code using an offline computer?
Correct. You should download the software and generate the keys on a offline machine.

Meanwhile,you're lengend here and you should know which of this wallet is safe and secure.
Firstly, the 'legendary' rank does not imply any kind of knowledge. Ranks are based on activity, ergo you will find plenty of Hero and Legendary members with limited or flawed knowledge.
Secondly, I'm fully aware of the security implications of the wallets. What I'm saying is that, I have not written this myself and can not guarantee anything (there are ways that you can fuck up).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: DD-Lex on October 23, 2016, 08:46:28 AM
Thank for info. It's really important to know for beginners like me.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: suzanne5223 on October 23, 2016, 01:03:29 PM
If I understand you correctly. In other to get a safe wallet code I will have to generate the code using an offline computer?
Correct. You should download the software and generate the keys on a offline machine.

Meanwhile,you're lengend here and you should know which of this wallet is safe and secure.
Firstly, the 'legendary' rank does not imply any kind of knowledge. Ranks are based on activity, ergo you will find plenty of Hero and Legendary members with limited or flawed knowledge.
Secondly, I'm fully aware of the security implications of the wallets. What I'm saying is that, I have not written this myself and can not guarantee anything (there are ways that you can fuck up).
Oh,I guess you're right. Likewise, in the real world age is not been mature. Nevertheless, there must be a wallet knew wholly it was so good.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Shady on October 27, 2016, 08:36:02 PM
I'm in love with Xapo because of their debit card feature... It's just like PayPal with its debit card and insurance so I keep it as a payment processer.

In great detail the quality became essential for me to trust it directly, Xapo is my exclusive Bitcoin Wallet. Once multi-wallets become more mainstream I can adjust using that for alts such as DogeCoin / LiteCoin, etc.

I'm actually looking for a web wallet like Xapo that allows every single cryptocurrency alive that isn't an exchange.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: est00 on October 30, 2016, 02:26:21 AM
Hi!
I'm a beginner and have a question: if I have bitcoins in my desktop wallet and I'm needing format the hard disk from my computer, I'll lost the bitcoins after format the HD?
If yes is the answer, how no lose the bitcoins with formatting?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 30, 2016, 08:40:05 AM
if I have bitcoins in my desktop wallet and I'm needing format the hard disk from my computer, I'll lost the bitcoins after format the HD?
If you don't have a backup of your wallet, then you will most likely lose your coins.

If yes is the answer, how no lose the bitcoins with formatting?
This depends on the type of wallet that you're using. For Bitcoin Core, you need to find and backup your 'wallet.dat' file which is usually located in your datadir (https://en.bitcoin.it/wiki/Data_directory)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: est00 on October 30, 2016, 09:17:24 AM
Quote
This depends on the type of wallet that you're using. For Bitcoin Core, you need to find and backup your 'wallet.dat' file which is usually located in your datadir (https://en.bitcoin.it/wiki/Data_directory)

Thanks a lot!
Yes, my wallet is Bitcoin Core. I'll search about 'wallet.dat' and transferability to get more informations.
Thanks again.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Coin-Keeper on November 01, 2016, 11:28:04 PM
I find this thread informative.

The trade off for me, and I bet I am not alone, is privacy vs convenience.  Explaining; I am no newbie to this and I cloak my btc transactions via onion server use on the blockchain.  Electrum has been great at this.  Somewhat recently I have added Trezor to my Electrum/TOR mix.  I never reuse an address but I still realize that improper use of address groups can lead to some associations regardless.  Again, I do try to be careful.  I use several wallets as well.

Now regarding Privacy:  over time the entire blockchain is going to get huge, and in fact even now its larger than I care to deal with on an ongoing basis.  I have looked at and do understand some of the benefits of a software/client with the whole blockchain on it.  For me, the tradeoff always comes down to voting yes on the method I am now using.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Techie5879 on November 04, 2016, 01:17:42 PM
I prefer to use the online Blockchain Official Wallet, just cause its available universally and we don't have to wait out for the long time that Software Wallets take to Sync with the Bitcoin Blocks. I think the software stuff is too hectic. So, personally I use the online wallet with a very secure password and there is no question of getting hacked (some of you might say otherwise, but listen[read] my point...) as Blockchain sends an email to my account with some very accurate information about the computer and the browser which is trying to access my wallet and I have to approve each transaction manually which is OK for me.

However, if you are keeping huge number of bitcoins on you wallet (say, anywhere above 30 BTCs), then I think you are better off buying some good premium hardware wallet as those are the best options according to me to keep your dough safe :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: crwth on November 04, 2016, 02:31:23 PM
I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 04, 2016, 02:34:39 PM
I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. :)
That's solely up to you. Usually people keep one address on their profile, and/or stake it somewhere on the forum for identification purposes. They do most/all signing with this address in cases when needed (e.g. account recovery after being locked out/hacked).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: crwth on November 07, 2016, 06:12:05 AM
I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. :)
That's solely up to you. Usually people keep one address on their profile, and/or stake it somewhere on the forum for identification purposes. They do most/all signing with this address in cases when needed (e.g. account recovery after being locked out/hacked).

Okay then so i pick 1 then stake it here so at least they would know it's mine?

 Thanks for replying!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 07, 2016, 06:14:45 AM
Okay then so i pick 1 then stake it here so at least they would know it's mine?

 Thanks for replying!
Correct. This is the primary thread used for address staking at this time: https://bitcointalk.org/index.php?topic=996318.0


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: crwth on November 07, 2016, 06:22:26 AM
Okay then so i pick 1 then stake it here so at least they would know it's mine?

 Thanks for replying!
Correct. This is the primary thread used for address staking at this time: https://bitcointalk.org/index.php?topic=996318.0

Thank you for that. Last question. If I have a software wallet in an offline computer or laptop, how will it be updated about the transactions? i'm sorry, I'm really new in bitcoin


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 07, 2016, 06:25:26 AM
If I have a software wallet in an offline computer or laptop, how will it be updated about the transactions? i'm sorry, I'm really new in bitcoin
If you're talking about creating transactions: Your transaction will be broadcast as soon as you connect to the internet or you could let someone else broadcast it (e.g. use a service to do so).
If you're talking about receiving transactions: Depending on the wallet, it will synchronize as soon as you open the wallet with an active internet connection and any transactions should show. You can obviously receive payments even if your wallet is offline (easily verifiable via any blockchain explorer).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: crwth on November 07, 2016, 06:35:48 AM
If I have a software wallet in an offline computer or laptop, how will it be updated about the transactions? i'm sorry, I'm really new in bitcoin
If you're talking about creating transactions: Your transaction will be broadcast as soon as you connect to the internet or you could let someone else broadcast it (e.g. use a service to do so).
If you're talking about receiving transactions: Depending on the wallet, it will synchronize as soon as you open the wallet with an active internet connection and any transactions should show. You can obviously receive payments even if your wallet is offline (easily verifiable via any blockchain explorer).

So you would always connect it the internet IF ONLY you plan to spend it or resend some funds? (Cold storages)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 07, 2016, 06:38:00 AM
So you would always connect it the internet IF ONLY you plan to spend it or resend some funds? (Cold storages)
Correct. You don't need to connect to receive (even though your offline wallet wouldn't show that you've received anything). Experienced users can also mitigate connecting to the internet for sending by creating transactions on offline machines and pushing them via online ones (although I don't recommend attempting this considering your current knowledge). Hopefully this answers your questions. You can PM me directly if you have more questions.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: robiulawal on November 12, 2016, 03:26:57 AM
Oh it's ok.
I'm a newbie and didn't know all
of this wallet before. ::)
But I found out a wallet called
"Coinbase"
I'm kinda nervous
why coinbase isn't recommend in
this post?
Is coinbase is good or bad?  ???
I'm using it..  :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: achow101 on November 12, 2016, 03:34:21 AM
Oh it's ok.
I'm a newbie and didn't know all
of this wallet before. ::)
But I found out a wallet called
"Coinbase"
I'm kinda nervous
why coinbase isn't recommend in
this post?
Is coinbase is good or bad?  ???
I'm using it..  :)
Coinbase is a web wallet. Web wallets are discouraged as you the user are not in control of your Bitcoin, the wallet service is. If the service shuts down or they lock you out of your account, you cannot access your Bitcoin. If the service decides to scam and steals all of the Bitcoin entrusted to them, you have lost your Bitcoin. In general, web wallets, including Coinbase, are not considered good wallets.

Also, Coinbase is known to have shut down accounts that they suspect are being used for gambling. Your money is at their mercy.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: MrTransfer on November 20, 2016, 07:02:04 AM
Greetings,

I am new in bitcoin business, and all that I know, I've learned from various sites, and YT. I am a beginner, and learning step by step. From YT i found out the way that how to open an wallet, and personal accout, and basicly how the all stuff works. Luckely I have stumbled on this forum yesterday, and signed in, and registered in a second. I read some topics of the forum, and only from that I now understand 3%, and realise that I knew 0,01%.

I have opened an account on Blockchain. Is that a good and secure thing to do, and can i use Tor to trade with BC on the youknowwhich web?

Second, I earned some amount of satoshi, that I have on my account, should I consider downloading an hard drive software to keep my earnings offline, because if I understand that is one of the most secure ways to store and keep my BC?

Third, yesterday I found out that there is an equipmet to buy, that earn, and keep in storage your BC, only by connecting them on an WiFi Router, and if it is not a problem, a short info abot that?

And fourth, the las, if it's not a problem, I've heard of an USB drive that is doing something (in its name has somthing 650 or 635?!), and I can't remeber what is it doing or how, but I watched it on YT, and it was connected with Annonymus, of which I am a Fan and supporter, because I believe that the informations and knowlage should bee free, and that could bring only good especially to the Third World countries, in which I'm living in too! A.C.A.B. and New World Order FY! Free Society!  >:(

For a first post there is a lot of questions, but I'm very interested in this, and BC too, because if I understand this currency is not connected with Large Corporation Banks, which are ripping us off, especially here, in the Third World, were we are all under loans with enormus fees, and they are legaly with Gouvernments help ripping us off, legal recetearing (i don't know is this word wrote how it should be written)  >:(

I have some Personal beliefs of all this, that I wrote, I hope You understan, who I am, and in what I believe. Becaouse of that I need help, becausen I'm really interested in all of that I've mentioned, and if You can help me to understand and learn, I promise that I will be a good student    :D

Best Regards to You all!   :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 20, 2016, 07:18:21 AM
I have opened an account on Blockchain. Is that a good and secure thing to do, and can i use Tor to trade with BC on the youknowwhich web?
While I disagree with the usage of web wallet (e.g. blockchain.info), you should be able to use ToR to access it.

Second, I earned some amount of satoshi, that I have on my account, should I consider downloading an hard drive software to keep my earnings offline, because if I understand that is one of the most secure ways to store and keep my BC?
Yes. Offline storage is most likely the safest way of keeping your coin. Make sure to encrypt the wallet first though.

Third, yesterday I found out that there is an equipmet to buy, that earn, and keep in storage your BC, only by connecting them on an WiFi Router, and if it is not a problem, a short info abot that?
Not sure what you're talking about, maybe Bitcoin miners? There are profitability calculators online which can help you determine whether or not buying a specific miner is a good call or not.

And fourth, the las, if it's not a problem, I've heard of an USB drive that is doing something (in its name has somthing 650 or 635?!), and I can't remeber what is it doing or how, but I watched it on YT, and it was connected with Annonymus, of which I am a Fan and supporter, because I believe that the informations and knowlage should bee free, and that could bring only good especially to the Third World countries, in which I'm living in too! A.C.A.B. and New World Order FY! Free Society!  >:(
Never heard of it before.

I have some Personal beliefs of all this, that I wrote, I hope You understan, who I am, and in what I believe. Becaouse of that I need help, becausen I'm really interested in all of that I've mentioned, and if You can help me to understand and learn, I promise that I will be a good student    :D
Seeing that you are allegedly from Serbia or know Serbian, I advise you to join the IRC channel #bitcoin-hr and we will help you there faster.

~Lauda


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: myparentsdisownedme on November 21, 2016, 11:47:54 PM
Does there really need to be this much analysis tho? I feel you can just choose the mos tpopular one and you'll be fine

I'm a beginner though too :/


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 22, 2016, 08:18:39 AM
Does there really need to be this much analysis tho? I feel you can just choose the mos tpopular one and you'll be fine

I'm a beginner though too :/
There are many options and wallet types to choose from depending on your needs. That's why we tried to cover as much as possible. It comes down to security and privacy. If you go with e.g. Electrum, you should be fine.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Bit_Member on November 28, 2016, 04:42:00 PM
Hi. I would just like to know if you have heard of cases where people's money have been stolen from their wallet. If so how can you avoid this?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 28, 2016, 04:50:20 PM
Hi. I would just like to know if you have heard of cases where people's money have been stolen from their wallet. If so how can you avoid this?
The only way to steal money is if they compromise the target machine/network. To avoid this you need to look into general security advice for computers and network. Read this thread: Beware of Malware: Think Before Acting! (https://bitcointalk.org/index.php?topic=1652275.0). What you could do is:
1) Keep the majority of your coins on an offline machine and only boot it when you need to use them.
2) Split the coins across several different devices (e.g. desktop wallet, mobile wallets) and make sure to use 2FA and encryption where available.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Bitstashers on November 29, 2016, 01:04:57 AM
Hi. I would just like to know if you have heard of cases where people's money have been stolen from their wallet. If so how can you avoid this?
The only way to steal money is if they compromise the target machine/network. To avoid this you need to look into general security advice for computers and network. Read this thread: Beware of Malware: Think Before Acting! (https://bitcointalk.org/index.php?topic=1652275.0). What you could do is:
1) Keep the majority of your coins on an offline machine and only boot it when you need to use them.
2) Split the coins across several different devices (e.g. desktop wallet, mobile wallets) and make sure to use 2FA and encryption where available.

Another way to keep your coins from being stolen is to use a cold storage wallet.  While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe.  With the cold storage keys being generated offline, there is no way for a hacker to get said keys.  But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.

If you want to save coins for the long term, a cold storage wallet is definitely the solution to go with.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 29, 2016, 07:17:09 AM
Another way to keep your coins from being stolen is to use a cold storage wallet.  While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe.  With the cold storage keys being generated offline, there is no way for a hacker to get said keys.  But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.
While that is most likely going to be the case with the average user, it does not necessarily have to be the case. Depending on the user expertise, it is possibly to create the transaction(s) offline and broadcast them to the network from an online machine. One could say that this is almost a *fool proof* way of using them. Someone could attempt to write a guide for this, however I'd advise that average users do not use it depending on how TXs are crafted.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Bitstashers on December 02, 2016, 11:57:13 AM
Another way to keep your coins from being stolen is to use a cold storage wallet.  While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe.  With the cold storage keys being generated offline, there is no way for a hacker to get said keys.  But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.
While that is most likely going to be the case with the average user, it does not necessarily have to be the case. Depending on the user expertise, it is possibly to create the transaction(s) offline and broadcast them to the network from an online machine. One could say that this is almost a *fool proof* way of using them. Someone could attempt to write a guide for this, however I'd advise that average users do not use it depending on how TXs are crafted.

I would like to learn about these offline transactions. Is there a link to a thread here that explains it?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on December 02, 2016, 02:45:20 PM
Good initiative!

Bitcoin Core (https://bitcoin.org/en/download)
.. Bitcoin Core routed through Tor (https://www.torproject.org/) is considered one of the best ways to use Bitcoin privately.
I suggest adding a link to https://www.torproject.org/ to the word "Tor".

Bitcoin.org: Choose your wallet (https://bitcoin.org/en/choose-your-wallet) has a good overview too. It does not mention blockchain.info though. You (Lauda) also don't mention it, while it is (one of) the most used wallet(s), so I think it should be in the list, including it's drawbacks or even reasons why not to use it.

I think it would be good to add a section on brain wallets, and the importance of good passwords. Bitaddress.org for instance offers Brain Wallets. It has a warning to use a strong password, but I don't think enough people know that passwords like {1summer2leo3phoebe are not strong enough (source (http://eprint.iacr.org/2016/103.pdf)) and can be hacked brute force.

It's the first time I read about OPENDIME. I like the idea, but:
-it costs $12.50 (plus shipping) per piece.
-if this would be used by many people, someone could make fake hardware that verifies okay, making it no better than an expensive paper wallet (I've seen many fake Chinese USB-sticks in the past).
-you don't know if the manufacturer knows the private key. The FAQ explains that OPENDIME can't know the key, but a fake manufacturer could make a compromised fake device.
-if it breaks, you lose your money. I've had normal USB-sticks that stopped working after a few years.
With this in mind, I think OPENDIME is more of a gimmick than a serious wallet, which doesn't fit this list.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on December 02, 2016, 04:31:39 PM
I would like to learn about these offline transactions. Is there a link to a thread here that explains it?
You have to do your own research for that (not completely relevant to this thread). Here are two links to get you started: Link 1 (https://bitcoin.stackexchange.com/questions/8101/how-to-sign-a-transaction-using-only-an-offline-computer), Link 2 (https://bitcoin.stackexchange.com/questions/41352/bitcoin-offline-transaction).

I suggest adding a link to https://www.torproject.org/ to the word "Tor".
Done, thanks.

Bitcoin.org: Choose your wallet (https://bitcoin.org/en/choose-your-wallet) has a good overview too. It does not mention blockchain.info though. You (Lauda) also don't mention it, while it is (one of) the most used wallet(s), so I think it should be in the list, including it's drawbacks or even reasons why not to use it.
I'll think about it.

-if this would be used by many people, someone could make fake hardware that verifies okay, making it no better than an expensive paper wallet (I've seen many fake Chinese USB-sticks in the past).
If your desktop is compromised: Every wallet is not a serious wallet, but a gimmick. If your download is not verified, then your wallet is also a gimmick and so on. This reasoning is inadequate. Buy from the original manufacturer and you're good to go.

-if it breaks, you lose your money. I've had normal USB-sticks that stopped working after a few years.
Same goes for all other hardware wallets. Should I delist all of them? There's no way to determine the average lifespan of an Opendime just yet, unless they ran tests of their own.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on December 02, 2016, 04:38:52 PM
Buy from the original manufacturer and you're good to go.
As buyer, I'm good to go indeed, but the receiving party could be several hands down from the buyer.

Quote
Same goes for all other hardware wallets. Should I delist all of them?
Those hardware wallets provide a phrase to restore them, so a defect doesn't mean you lose your money.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ayc_08 on December 06, 2016, 05:57:29 AM
Hi guys!
I'm a newbie also and have a question regarding wallets suitable for my phone,i am a windows phone user and right now i am using copay as my wallet for daily transactions,i want to buy bitcoin and store it for future use,what else can i have in my phone to store my bitcoin in a more secure wallet?
Thank's!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: shorena on December 06, 2016, 08:24:30 AM
Hi guys!
I'm a newbie also and have a question regarding wallets suitable for my phone,i am a windows phone user and right now i am using copay as my wallet for daily transactions,i want to buy bitcoin and store it for future use,what else can i have in my phone to store my bitcoin in a more secure wallet?
Thank's!

IMHO, dont use a phone for long term storage. They are lost and stolen too easily. If you dont have a desktop/laptop, use a paperwallet.

Edit: typos.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: boled on December 07, 2016, 10:38:53 AM
im newbie too and my wallet "blockchain" how about this one... blockchain.info, its safe?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ayc_08 on December 08, 2016, 10:18:17 AM
im newbie too and my wallet "blockchain" how about this one... blockchain.info, its safe?
Blockchain is my first wallet that I created,when joined in this forum I read about wallets and realized that there are more secure than blockchain.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: moonpie45 on December 13, 2016, 01:36:41 AM
Custodial Services
Although often called Bitcoin wallets, services like  Coinbase (https://www.coinbase.com/) and  Circle (https://www.circle.com/en) aren’t true Bitcoin wallets. Customers private keys are held by these third party services, meaning users don’t really have control of their money. As Bitcoiners often say: “if you don’t control the keys, you don’t control the coins”. Mt. Gox (https://en.wikipedia.org/wiki/Mt._Gox) is an extreme example, but one that illustrates the importance of holding private keys. Gox was the first and largest Bitcoin exchange up until 2013. Thousands of users stored more than 800,000 bitcoins in their Gox accounts.
By default, I think Bitcoin users should strive to be able to be in a situation in which they control their private keys, however many people do not have the expertise to control their bitcoin themselves, as this is something very different then taking care of a yahoo or a gmail account, 2FA will function very differently then what users are used to, storing private keys (including via backups) is a very different process then storing your tax records, and your private keys will probably be the first (and sometimes only) think that some maleware will look for/go after.

In light of the above, I think it is a good idea for many new users to "start out" using services like coinbase (who BTW do not want users to use their service as a wallet) while they can start to understand how Bitcoin works, and the advantages of using Bitcoin, while having more "normal" risks of having their money stolen/lost -- for example if a new device accesses a user's coinbase account, a email link from the same browser session will need to be clicked on in order to authorize that device, and money might get stolen due to theft from coinbase, similarly to how money might get stolen due to paypal going insolvent.

Quote
Armory is the most mature, secure and full featured Bitcoin wallet but it can be technologically intimidating for users. Whether you are an individual storing $1,000 or institution storing $1,000,000,000 this is the most secure option available. Users are in complete control all Bitcoin private keys and can setup a secure offline-signing process in Armory.
I also do not like your use of the word "most" because this word is very subjective. It is also true that Armory is actually catered for "enterprise" type users, and not users who keep "$1,000" of bitcoin in their wallet.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: DolphinRider on December 14, 2016, 05:11:31 AM
Thank you for sharing those Information. I didn't know there are a lot of different kinds wallets existing for cryptocurrencies. In the Philippines we find it convinient to use coins.ph wallet with transaction to other wallets with no fees but not all though, like if you're going to cash it out here in the philippines you have to use gcash and it applies 2℅ as the transaction fee which is not cool if you're witdhrawing large amounts.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: BitcoinNewsMagazine on December 14, 2016, 04:27:37 PM
I think new users should be encouraged to start off right away with a hardware wallet. A Ledger Nano S costs $65, anyone can afford that and will be the best insurance against theft you ever spent. Bitcoin malware is becoming more prevalent and will only increase as bitcoin price goes up. I once had a trojan get through my security and steal bitcoin from a passphrase protected Bitcoin QT wallet. After that I switched to hardware wallets only.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Make-A-Buck on December 17, 2016, 04:39:44 AM
I think new users should be encouraged to start off right away with a hardware wallet. A Ledger Nano S costs $65, anyone can afford that and will be the best insurance against theft you ever spent. Bitcoin malware is becoming more prevalent and will only increase as bitcoin price goes up. I once had a trojan get through my security and steal bitcoin from a passphrase protected Bitcoin QT wallet. After that I switched to hardware wallets only.
Hi, and thanks in advance for any help anyone can provide.
I'm an veteran in the MIS/IT world, but a noob to Bitcoin & mining.
Just put my foot in the water this passed Tuesday when my Antminer R4 arrived.
Had it up and mining in kano.is pool in fairly short order.
Setup a wallet (Electrum) and have two Bitcoin reward payments hanging out there in limbo on kano.is pool.

Block           Address                                        Status   BTC   
443778   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00372422   
443699   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00370034   

I start up the Electrum software wallet.
Go to the "Receive' Tab & the above address matches my 'Receiving address' however I still have a ZERO BTC balance in my wallet.
These two payments are my first ever BTC payments, and I'm not sure what step I must be missing to claim these two payments.
Thanks again,
(BTC Noob)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: achow101 on December 17, 2016, 04:53:39 AM
Hi, and thanks in advance for any help anyone can provide.
I'm an veteran in the MIS/IT world, but a noob to Bitcoin & mining.
Just put my foot in the water this passed Tuesday when my Antminer R4 arrived.
Had it up and mining in kano.is pool in fairly short order.
Setup a wallet (Electrum) and have two Bitcoin reward payments hanging out there in limbo on kano.is pool.

Block           Address                                        Status   BTC   
443778   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00372422   
443699   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00370034   

I start up the Electrum software wallet.
Go to the "Receive' Tab & the above address matches my 'Receiving address' however I still have a ZERO BTC balance in my wallet.
These two payments are my first ever BTC payments, and I'm not sure what step I must be missing to claim these two payments.
Thanks again,
(BTC Noob)
You have not been paid yet, there are no transactions to your address. If you think you should have been paid, you should contact Kano.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Make-A-Buck on December 17, 2016, 04:59:17 AM
Hi, and thanks in advance for any help anyone can provide.
I'm an veteran in the MIS/IT world, but a noob to Bitcoin & mining.
Just put my foot in the water this passed Tuesday when my Antminer R4 arrived.
Had it up and mining in kano.is pool in fairly short order.
Setup a wallet (Electrum) and have two Bitcoin reward payments hanging out there in limbo on kano.is pool.

Block           Address                                        Status   BTC   
443778   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00372422   
443699   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00370034   

I start up the Electrum software wallet.
Go to the "Receive' Tab & the above address matches my 'Receiving address' however I still have a ZERO BTC balance in my wallet.
These two payments are my first ever BTC payments, and I'm not sure what step I must be missing to claim these two payments.
Thanks again,
(BTC Noob)
You have not been paid yet, there are no transactions to your address. If you think you should have been paid, you should contact Kano.
Thanks for the reply.
So, if the above two transactions are showing up when I log into Kano.is pool website and go to the 'Payments' screen, does it take some time b4 these two payments get processed or something? If so, any idea how long it takes to process payments?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: achow101 on December 17, 2016, 05:05:26 AM
Thanks for the reply.
So, if the above two transactions are showing up when I log into Kano.is pool website and go to the 'Payments' screen, does it take some time b4 these two payments get processed or something? If so, any idea how long it takes to process payments?
That is all up to the pool operator to make payments. Once the transaction is created and broadcast, it will show up in most block explorers (sites like https://blockchain.info/, https://blockr.io/, https://www.blocktrail.com/). You can look up the transaction by the transaction id or look up all transactions related to your address. The transaction will appear as unconfirmed until it is included in a block where it then becomes confirmed. Once the transaction is confirmed, you can safely spend the Bitcoin.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Make-A-Buck on December 17, 2016, 05:34:57 AM
Thanks for the reply.
So, if the above two transactions are showing up when I log into Kano.is pool website and go to the 'Payments' screen, does it take some time b4 these two payments get processed or something? If so, any idea how long it takes to process payments?
That is all up to the pool operator to make payments. Once the transaction is created and broadcast, it will show up in most block explorers (sites like https://blockchain.info/, https://blockr.io/, https://www.blocktrail.com/). You can look up the transaction by the transaction id or look up all transactions related to your address. The transaction will appear as unconfirmed until it is included in a block where it then becomes confirmed. Once the transaction is confirmed, you can safely spend the Bitcoin.
A fellow kano pool miner was nice enough to explain the payout schematic to me.
Turns out, I just need to be a little more patient. Here is what the deal is...

Under the column "status" for those two blocks they are showing +13 and +92 confirms.
A newly created block does not get paid to the pool until it has 101 confirms.
When that happens kano then puts the transactions to us miners into the pools work for the next block we find.
So a payment for a block does not happen until it gets 101 confirms and then when we find the next block.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: mettalmag on January 07, 2017, 12:07:35 PM
Couple questions maybe I find answers here
Annual income every month is 0.7-1 BTC, I'm using Coinbase and Xapo as my main wallets, sometimes local wallet provided by emoney.ge where I can sell my BTC to GEL and cashout. In this case everything is fine and I feel secured.
I was wondering what is the best way of storing big amounts of BTC ? I understand that in this case hardware wallet may be the best solution, or maybe I'm wrong ?
And if I'm not what is the right way to maintain a hardware wallet ? I mean hardware side, where you need backups RAIDs and etc. Is there any ultimate guide or something ?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: shorena on January 07, 2017, 02:08:38 PM
Couple questions maybe I find answers here
Annual income every month is 0.7-1 BTC, I'm using Coinbase and Xapo as my main wallets, sometimes local wallet provided by emoney.ge where I can sell my BTC to GEL and cashout. In this case everything is fine and I feel secured.
I was wondering what is the best way of storing big amounts of BTC ? I understand that in this case hardware wallet may be the best solution, or maybe I'm wrong ?

Significant amounts[1] should not be kept with online wallets. Hardware wallets[2] are specific devices designed to hold your private keys, like e.g. a trezor[3] or keepkey[4]. Other options would be to use general hardware (like an old laptop) with a software wallet, but to keep it offline at all time (after setup). The idea is to keep private keys on systems that can not be attacked from the internet or only with significantly advanced malware that is most likely not used for attacks on wallets (think stuxnet[5]).

And if I'm not what is the right way to maintain a hardware wallet ? I mean hardware side, where you need backups RAIDs and etc. Is there any ultimate guide or something ?

Most hardware wallets use a HD[6] scheme which means you have to do a single backup upon setup and thats it. Keep in mind that this backup must be kept secure as well.

[1] how much that exactly is depends on your personal circumstances.
[2] https://en.bitcoin.it/wiki/Hardware_wallet
[3] https://bitcointrezor.com/
[4] https://www.keepkey.com/
[5] https://en.wikipedia.org/wiki/Stuxnet
[6] https://en.bitcoin.it/wiki/Deterministic_wallet


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Qbert34 on January 10, 2017, 09:33:57 AM
Very interesting thread. I've been using Bitcoins more often lately to conduct transactions and as somewhat of a newbie, I wasn't sure which was best. At first I tried Bitcoin Core but it was very slow and that made it unappealing for me. Then I went to Circle, which ended, and now I am at Coinbase. After doing some reading in this thread, I decided to migrate away from Coinbase and I'm looking at some hardware wallets to store the majority of my bitcoins. I think I am leaning toward the KeepKey right now, but they have seemingly went out of stock on Amazon. Do you think it's worth the wait or should I just get the Trezor instead?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on January 21, 2017, 01:39:26 PM
Very interesting thread. I've been using Bitcoins more often lately to conduct transactions and as somewhat of a newbie, I wasn't sure which was best. At first I tried Bitcoin Core but it was very slow and that made it unappealing for me. Then I went to Circle, which ended, and now I am at Coinbase. After doing some reading in this thread, I decided to migrate away from Coinbase and I'm looking at some hardware wallets to store the majority of my bitcoins. I think I am leaning toward the KeepKey right now, but they have seemingly went out of stock on Amazon. Do you think it's worth the wait or should I just get the Trezor instead?

Circle and Coinbase are definitely two services that everyone should avoid as they don't give you control over your private keys. If they don't have stock on Amazon , try to use order from their official website[1]. If I had to choose a hardware wallet personally , I'd go with Ledger Nano S[2] without thinking twice and It can also manage multiple coins. I made a thread about hardware wallets[3] , I suggest checking it out as It could help you choose.

[1] https://www.keepkey.com/
[2] https://www.ledgerwallet.com/products/12-ledger-nano-s
[3] https://bitcointalk.org/index.php?topic=1710607.0;topicseen


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: metokr on January 27, 2017, 12:54:01 AM
Hello everybody .

Do you recommend Electrum wallet for beginners and what are advantages and disadvantages of Electrum ?

Best regards.



Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: sgheillups on January 27, 2017, 11:41:27 PM
I read everything and I'm quite confused.. I'm a newbie and I'm looking for a wallet to start, I see that blockchain.info is quite good but it has fees to pay for each btc transfer. I would like to use an online wallet with possibly no fees. Being a newbie I'll move just a few mBTC at once (either some dollars or some cent) and use that for sport gambling or something like that, which wallet is the best for this purpose? Thanks


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: pooya87 on January 28, 2017, 04:54:05 AM
Do you recommend Electrum wallet for beginners and what are advantages and disadvantages of Electrum ?

even as a beginner you need to know a certain things such as how to secure your wallet, how certain things work such as fee,...

but yes i recommend Electrum for a beginner.

advantage of Electrum is that it is a SPV wallet which means you don't have to download much data from internet (~30 MB) and syncing is easy and fast.

but it is a SPV wallet and has SPV disadvantages, such as not having the privacy of a full node (need to download 100+ GB and sync takes a long time) and also trusting a server to tell you about transaction status (not that this is happening but) the server can tell you a transaction is confirmed while it is not and risk double spend.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on January 28, 2017, 11:26:24 AM
I read everything and I'm quite confused.. I'm a newbie and I'm looking for a wallet to start, I see that blockchain.info is quite good but it has fees to pay for each btc transfer.
No. Blockchain.info is not a good wallet. The use of web wallets is not recommended.

I would like to use an online wallet with possibly no fees.
There is no such thing. Bitcoin transactions require fees to proceed. Whilst you can send a TX without a fee or with a very low fee, it is highly likely that it will never confirm. Therefore, it makes no sense to even attempt that.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: minerjones on January 28, 2017, 12:32:05 PM
I read everything and I'm quite confused.. I'm a newbie and I'm looking for a wallet to start, I see that blockchain.info is quite good but it has fees to pay for each btc transfer.
No. Blockchain.info is not a good wallet. The use of web wallets is not recommended.

I would like to use an online wallet with possibly no fees.
There is no such thing. Bitcoin transactions require fees to proceed. Whilst you can send a TX without a fee or with a very low fee, it is highly likely that it will never confirm. Therefore, it makes no sense to even attempt that.

why is blockchain.info not good??
their website is nice and they seem friendly.

:P


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on January 28, 2017, 12:48:28 PM
why is blockchain.info not good??
their website is nice and they seem friendly.
I think their wallet is the most used wallet around. But their site is often down, they seem to be trigger happy on IP bans, even I got one at some point (luckily it expired after a day), and I've read many people having problems with them.
I've used it for a while, but didn't like the new wallet update they pushed. It got slower and lost basic functionality.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: minerjones on January 28, 2017, 02:17:12 PM
why is blockchain.info not good??
their website is nice and they seem friendly.
I think their wallet is the most used wallet around. But their site is often down, they seem to be trigger happy on IP bans, even I got one at some point (luckily it expired after a day), and I've read many people having problems with them.
I've used it for a while, but didn't like the new wallet update they pushed. It got slower and lost basic functionality.

So do they take your bitcoins??
why would they ban someone? seems not good.
what is good wallet??
what about paper wallet??


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: sgheillups on January 28, 2017, 04:20:58 PM
No. Blockchain.info is not a good wallet. The use of web wallets is not recommended.
As a noob, I'm pushed to think that an online wallet is more safe than one installed in your pc, since your pc could get viruses in various way while an online wallet MUST grant you that your money are safe, it's their work. Probably I'm thinking like real moneys and banks: it's better to give your money to the bank instead of keeping them under the mattress since a burglar could break into your home and steal them. Why it is not the same with btc?

Then, is it sufficient a commercial antivirus as Kaspersky to protect my btc? What if I need to format my pc?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on January 28, 2017, 04:48:42 PM
As a noob, I'm pushed to think that an online wallet is more safe than one installed in your pc, since your pc could get viruses in various way while an online wallet MUST grant you that your money are safe, it's their work. Probably I'm thinking like real moneys and banks: it's better to give your money to the bank instead of keeping them under the mattress since a burglar could break into your home and steal them. Why it is not the same with btc?
Wrong. A web wallet is not a bank. There is no gurantee that you will be compensated in the case that it gets hacked. AFAIK the biggest web wallet hack that has occurred was the one with Inputs.io.

Read: https://www.wired.com/2013/11/inputs/

Then, is it sufficient a commercial antivirus as Kaspersky to protect my btc? What if I need to format my pc?
Nothing can make your system 100% fool proof. Using Windows is a risk on its own. You should frequently backup your wallet to an external device.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: sgheillups on January 28, 2017, 07:17:04 PM
Nothing can make your system 100% fool proof. Using Windows is a risk on its own. You should frequently backup your wallet to an external device.

Really thanks, so the best for beginners is Electrum? Could be a good idea storing it on a virtual machine? Maybe using Linux and using this VM only for that purpose.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on January 28, 2017, 07:19:10 PM
Really thanks, so the best for beginners is Electrum?
If you don't want to download the whole blockchain, i.e. use a fully verifying wallet, then yes.

Could be a good idea storing it on a virtual machine? Maybe using Linux and using this VM only for that purpose.
Yes, but I don't see the point of doing this. If your host machine is compromised, your virtual machine will also be compromised.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: TheQuin on January 29, 2017, 09:57:07 AM
Thanks to the OP for posting this. I'm thinking of switching from Bitcoin Core to Electrum. I just have one question: what happens if the Electrum service disappears? Will it still be possible to recover the coins with the private key?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on January 29, 2017, 10:11:48 AM
what happens if the Electrum service disappears? Will it still be possible to recover the coins with the private key?
Yes.
You can test this: turn off your internet, and click Wallet > Private keys > Export.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: evakka on February 04, 2017, 12:24:33 PM
Two questions please

1. Can a hardware wallet accept except of bitcoin altcoins as well,
So that in a single wallet to have multiple accounts of different coins, Monero, zcash, Bitcoin and more

2. If you have created an account in an online wallet can this account be used from another wallet, a hardware wallet for example? And visa versa.
Or you have to have multiple wallet accounts and transfer your funds from one to another?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on February 04, 2017, 12:57:00 PM
1. Can a hardware wallet accept except of bitcoin altcoins as well,
So that in a single wallet to have multiple accounts of different coins, Monero, zcash, Bitcoin and more
Not unless the wallet explicitly says that they offer an altcoin wallet as well.

2. If you have created an account in an online wallet can this account be used from another wallet, a hardware wallet for example? And visa versa.
Or you have to have multiple wallet accounts and transfer your funds from one to another?
Depends on the used service. If they allow you to import/export private keys, then you can do that (e.g. from online to desktop). This is not common though.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: scarar on February 04, 2017, 02:37:35 PM
I'm unsure where I may post this question since I'm new. But, my question is about Electrum BTC Wallet, to ask how may I use sweep to get BTC that were stolen? If this is possible with sweep, than why hasn't the wallet creator able to optimized this to be used as a safe-guard from scamming / steeling others BTC? I'm not a programmer, so I'm unable to understand how it does it.

 


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on February 04, 2017, 02:39:11 PM
But, my question is about Electrum BTC Wallet, to ask how may I use sweep to get BTC that were stolen? If this is possible with sweep, than why hasn't the wallet creator able to optimized this to be used as a safe-guard from scamming / steeling others BTC? I'm not a programmer, so I'm unable to understand how it does it.
You can't get back Bitcoin that was stolen and is already confirmed by using a wallet. It looks like you don't understand how Bitcoin works at all. Unless you are trying to ask something else, in which case I did not understand the question.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: evakka on February 04, 2017, 04:32:44 PM
1. Can a hardware wallet accept except of bitcoin altcoins as well,
So that in a single wallet to have multiple accounts of different coins, Monero, zcash, Bitcoin and more
Not unless the wallet explicitly says that they offer an altcoin wallet as well.

2. If you have created an account in an online wallet can this account be used from another wallet, a hardware wallet for example? And visa versa.
Or you have to have multiple wallet accounts and transfer your funds from one to another?
Depends on the used service. If they allow you to import/export private keys, then you can do that (e.g. from online to desktop). This is not common though.

Thank you Lauda
About the multiple wallets...
Since the day u got started with Bitcoin have u had the same wallet?
In my case, I have a bread wallet which has some mBTC but I would like to change it. In the new wallet will I use my first private key or create a new one from scratch?Will the mBTC be transferred?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: dontworry on February 06, 2017, 06:08:45 AM
Is it possible to change private keys regularly? Because as far as I understand private keys work similar to password of an email box.

I installed armor wallet but it didn't work as it needs bitcoin core. If I knew I didn't install armor.
Then I installed Electrum. It created 12 words, 1 password and private keys of 10-15 addresses.
Is it possible to change those 12 words, 1 password and private keys regularly?
If yes, changing those 3 types of password-like things will be enough to keep Electrum wallet secure.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on February 06, 2017, 09:00:23 AM
In my case, I have a bread wallet which has some mBTC but I would like to change it. In the new wallet will I use my first private key or create a new one from scratch?Will the mBTC be transferred?
Just create a new wallet and transfer the Bitcoins by yourself: make a payment of your entire balance to an address from your new wallet.

Then I installed Electrum. It created 12 words, 1 password and private keys of 10-15 addresses.
Is it possible to change those 12 words, 1 password and private keys regularly?
The only way to "change" those 12 words, is by creating a new wallet. It is possible, but - as long as you keep the 12 words secure - not needed.
Every time you use a new address to receive Bitcoins, your wallet uses a new private key. So there too: nothing to do.
You can change the password.

Quote
If yes, changing those 3 types of password-like things will be enough to keep Electrum wallet secure.
It's still a hot wallet, meaning it's used on a computer connected to the internet. If your computer is not secure, your wallet isn't secure either.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: evakka on February 07, 2017, 03:50:39 PM
In my case, I have a bread wallet which has some mBTC but I would like to change it. In the new wallet will I use my first private key or create a new one from scratch?Will the mBTC be transferred?
Just create a new wallet and transfer the Bitcoins by yourself: make a payment of your entire balance to an address from your new wallet.
 

minus fees...

And your suggestion for the wallet?
I don't mind of downloading the whole blockchain in exchange to use a fully verifying wallet


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: brian1585 on February 15, 2017, 10:38:51 PM
Hi everyone,

Bitcoin newb here. I'm waiting for my funds to arrive to purchase my first btc's but have some questions related to hardware wallets. I've purchased a Nano S and understand that it only holds my private key. A few questions:

1. While using a HW wallet, is there any difference from using the provided software, ie. Ledger's Bitcoin Wallet, vs Greenaddress or Copay?
2. Do account details (balance, transactions, etc) follow the HW wallet? Ie. If I log in with a HW wallet into ledger's bitcoin wallet, greenaddress or copay, will I see the same thing? Or are transactions/balances, specific to the software used? Or are the various softwares like a window all looking into my same HW wallet?

Thank you for the your replies.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: aaseb on February 18, 2017, 02:30:42 AM
Hi,
after around a year using bitcoin I still haven't figured out this wallet question.
From what I understood,
-keeping your funds on exchanges is a big no no.
-keeping your funds on any online device is never 100% safe.
-keeping your funds on cold storage is the only 100% safe way...

My problem is I understand cold storage like a paper wallet is not convenient if you move funds in and and out often.
So I think the only way to keep your funds 100% safe and accessible is a hardware wallet.

Is this correct or is there a 100% safe way to keep funds on a hot wallet? if yes which one?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: arcanaaerobics on February 18, 2017, 02:55:29 AM
just found one that uses tor network.

love to use it for anonymity it proves for my sends and receives to stay private.

just the way using the blockchain should be. ;)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: very_452001 on February 25, 2017, 06:22:43 PM
I'm new to bitcoin and wallets and have a few following questions especially on hardware wallets:


I like to know if Hardware Wallets like Trezor, Ledger etc. gets outdated due to no further firmware updates or the Manufacturer releases a newer model then what happens?

If the hardware wallet becomes faulty not working then what the buyer should do? Is there warranties on these hardware wallets and if so how does the buyer return them if they live in another country?

If the hardware wallet becomes damaged by fire or water then where is the best place to store a recovery seed online to recover? I understand the best way to restore a recovery seed is tattooing it on the body but the pain involved in that.

I understand that writing the seed on a piece of paper but it can be lost or destroyed by fire etc.

I  understand that the user can memorise the seed in the brain but can forget it.

I also understand that the user can store a seed on a offline cold storage hardware device like a usb stick or a old spare phone but what if they go through the problems mentioned above?

So is there any online service provider that is truly hack-proof and trusted that a user can store a recovery seed because this method is the most convenient way as nowadays we do everything online now. Or is there another clever way not mentioned here to store a recovery seed?

Lastly which Hardware wallet is the best overall not in the most expensive? Or can I get any USB stick and convert it into a hardware wallet?

Thanks,


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: dacinka on February 26, 2017, 11:56:00 AM
Hi guys,
I  am new to this forum, thanks for this information,  it was super useful.  I recently discovered the blockchain wallet and already made a transaction with it, but I had to wait a lot.  Do you have the same problem?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Naokia980 on February 27, 2017, 07:09:54 PM
Thanks for sharing! Good to know.We will respect you rules as newbie!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: jhannlenris on February 27, 2017, 07:32:48 PM
How about the coins.ph which is number 1 common btc wallet in the Philippines, are you familiar with that? Is that safe?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: gracia0023 on March 01, 2017, 03:36:24 AM
As a beginner, I have so much questions running on my mind. Thanks to this post. It adds up to my idea about bitcoin.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: xskl0 on March 02, 2017, 03:25:16 PM
Other online wallet is HolyTransaction, its free and let you have diferent currencies (BTC, LTC, Dash, Ethereum ...) on the same account.

 https://i1.wp.com/www.diariobitcoin.com/wp-content/uploads/2017/01/Holytransaction-home.png?fit=640%2C269


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: suzanne5223 on March 07, 2017, 12:31:38 AM
Other online wallet is HolyTransaction, its free and let you have diferent currencies (BTC, LTC, Dash, Ethereum ...) on the same account.

 https://i1.wp.com/www.diariobitcoin.com/wp-content/uploads/2017/01/Holytransaction-home.png?fit=640%2C269
Oh really? Cause I heard acouple of days back that the holytransaction was use in Japan later Europe or is it international now?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on March 07, 2017, 06:53:53 AM
If you are ever planning on updating this list, I suggest adding btc.com for iOS, Android & web as well. As for desktop wallets then there is this new wallet called Exodus.io, I made a thread about them, feel free to link it on your post so If people have any questions, they could ask there : https://bitcointalk.org/index.php?topic=1766679.0;topicseen


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: dacinka on March 12, 2017, 03:58:23 PM
Can anyone please give me some advise for printing physical bitcoins from wallet? thanks


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Jenny Moll on March 20, 2017, 02:16:59 PM
thanks for sharing. Some of these wallets have been used. Local wallet occupies too much memory, synchronization is also very difficult. Or light wallet better, easy to use.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on March 20, 2017, 03:18:28 PM
Can anyone please give me some advise for printing physical bitcoins from wallet? thanks

If by that you mean "paper wallets" then simply take whatever wallet you are using right now and export the private keys, put them in a MS word file and print it with the address and QR associated with it.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: springgers on March 20, 2017, 03:56:02 PM
Have been using two downloadable wallets for a while and can not say my experience has been anything less than great using them! :)
Exodus which is not just for bitcoin but for about 4 other support for alt coins. Which include the biggest ones: dash and ethereum.
The other one is Electrum. The option to enable dynamic fees or modifiable fees to each send is a god sent! Coming from using blockchain's wallet from the very start of my bitcoin adventure. ;D
I have been using this one for a while and I like the customizable interface and they just released an update for it to make it more stable then it always was while I have been using it.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: vmutius on April 07, 2017, 03:06:01 PM
Thanks for the very good list. Started with bitcoins and got an account on coinbase, thought this was a good choise until I read the thread here.
Will switch to copay since I also love the open source culture.

Greetings Bettina


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: CryptoManiac54 on April 07, 2017, 06:43:13 PM
I'm just getting started with Bitcoin, and so I have a question.

Would you say that Bitcoin Core works fine for a first wallet? I like it because of the security (that it's software installed on my computer, and that the password is not held by a third party). But, I wonder because I hear reports that it is slow or unreliable at times. This guide reaffirms that.

Should I look into another wallet such as Armory?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on April 07, 2017, 08:11:07 PM
Would you say that Bitcoin Core works fine for a first wallet? I like it because of the security (that it's software installed on my computer, and that the password is not held by a third party). But, I wonder because I hear reports that it is slow or unreliable at times. This guide reaffirms that.
It is neither slow nor unreliable. Bitcoin Core requires you to download and validate the whole blockchain (~120 GB at the time of writing). The initial block download takes a long of time, especially if you have mediocre hardware. However, once you have syncronized it, you could use it as your daily wallet without problems assuming you open it once every or every second day (so it synchronizes the new parts of the chain).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: coins4meh on April 16, 2017, 01:28:42 PM
With mobile wallets, are they backed up online?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on April 16, 2017, 05:52:21 PM
With mobile wallets, are they backed up online?

I will be speaking about Mycelium when I say It's not the case but there is some centralization as they are the one controlling the full nodes the wallet is connected to, they don't take data like your private keys etc.. but your addresses should be known for them. I believe that people use it because It has more features and nice GUI otherwise you can check GreenBits or breadwallet.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on April 16, 2017, 08:22:20 PM
With mobile wallets, are they backed up online?
I've used two: Mycelium and Bitcoin Wallet. Both don't keep online backups. I wouldn't recommend using a wallet that keeps backups online anyway.
Mycelium asks you to write down random words for its seed. Bitcoin Wallet lets you create a backup, which you can for instance email to yourself.
For both wallets, or even in general, I can recommend to test the backup system at least once. Take an old smartphone, install the same wallet on it, and restore your backup. If it checks out, you should end up with two wallets that are exactly the same.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Etanllah on April 24, 2017, 01:28:44 PM
I'm personally a huge fan of Blockchain.info. I've been using it for a few years now and never had any problems. It's very easy to use and real newbie friendly.

I like online wallets because I can easily access my wallet from any computer and quickly move funds around. That being send, I don't have a ton of bitcoins. If I had a lot I would potentially think about installing a local wallet and creating cold storage.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: zohaibh on April 28, 2017, 10:48:28 AM
I am begginner and i need this type of info.  And thanks u so much for providing this type od info.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: DaveTheWerewolf on May 01, 2017, 08:16:33 AM
Hi, thanks for the info.
I'm new here so this might be a stupid question but, I've personally been using Coinomi on my Android as a mobile wallet.
Would you say this one is ok, or is it better to stick with what's been written up in the OP?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 01, 2017, 09:21:42 AM
Hi, thanks for the info.
I'm new here so this might be a stupid question but, I've personally been using Coinomi on my Android as a mobile wallet.
Would you say this one is ok, or is it better to stick with what's been written up in the OP?

Coinomi wasn't listed because It's new compared to the others and less known. I however see no reason on why you shouldn't use it as from the look of it, Its open source, you control your private keys, easy to recover using BIP44 passphrase. So Its really up to you.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: DaveTheWerewolf on May 01, 2017, 10:32:29 AM


Coinomi wasn't listed because It's new compared to the others and less known. I however see no reason on why you shouldn't use it as from the look of it, Its open source, you control your private keys, easy to recover using BIP44 passphrase. So Its really up to you.

Ah great! Thanks!
Yeah, I saw the OP was somewhat old, but I hadn't seen Coinomi mentioned in here, so I thought I'd just ask.  :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: BitcoinBabbler on May 01, 2017, 10:38:49 AM
Block chain.
The most secure btc wallet every.
Smooth functions,easy ui.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on May 01, 2017, 10:49:12 AM
Hi, thanks for the info.
I'm new here so this might be a stupid question but, I've personally been using Coinomi on my Android as a mobile wallet.
Would you say this one is ok, or is it better to stick with what's been written up in the OP?

Coinomi wasn't listed because It's new compared to the others and less known. I however see no reason on why you shouldn't use it as from the look of it, Its open source, you control your private keys, easy to recover using BIP44 passphrase. So Its really up to you.
https://bitcoin.org/en/choose-your-wallet gives a possible reason:
Quote
This wallet relies on a centralized service by default. This means a third party must be trusted to not hide or simulate payments.
I'm not sure how serious this concern is though.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 01, 2017, 01:08:13 PM
I'm not sure how serious this concern is though.

I believe Its not anything serious as this is the case for several wallets including Mycelium where the wallet connect specifically to the nodes made by the developers of the wallet. If its like Electrum, then the details that they could obtain shouldn't be anything more then addresses and the wallets associated with them.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lenzie on May 04, 2017, 02:50:55 AM
I am new to bitcoin, how can I back-up xapo wallet app? Or is it automatically connected onlinem


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: dbs00 on May 06, 2017, 12:54:04 AM
Very informative. Thanks for taking the time in posting this.
I went with BTC.com's android wallet


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 06, 2017, 06:17:17 AM
Very informative. Thanks for taking the time in posting this.
I went with BTC.com's android wallet

Its currently buggy you will either won't be able to send the funds after typing the PIN (even If its correct, It will say otherwise) or you will have a loading screen all the time. I reported the issue in their thread and they say It should be fixed in the next updates, so may want to wait.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ale88 on May 06, 2017, 03:28:19 PM
Hi guys, I'd like to a have a clarification about Electrum: what do I exactly need to restore a wallet, besides the seed? Because some people say I only need the seed, other people say also a backup and the private key...  ???


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 06, 2017, 05:20:12 PM
Hi guys, I'd like to a have a clarification about Electrum: what do I exactly need to restore a wallet, besides the seed? Because some people say I only need the seed, other people say also a backup and the private key...  ???

A lot of options could work:

1. The seed: the whole wallet will get regenerated from the 12 words seed including your addresses, private keys associated to them etc.
2. The wallet file (.dat) + password: You simply place it on the AppData and Electrum should read it, you will need to know the password though and keep the file with you all the time.
3. The private keys: You will have to export the private keys in plain text and keep them safely or print them.

I recommend the first method (seed). Taking a wallet .dat file with you the whole time could get it compromised or the USB where the file is stored could get corrupt, not to mention that someone could get his hands on them and try brute force the wallet. The private keys method is also not recommended, In bitcoin, Its suggested to use a new receiving address each time you receive funds, If you follow that, It will leave you with multiple private keys and that's a little bit chaotic. So go for the seed!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ale88 on May 06, 2017, 05:25:08 PM
3. The private keys: You will have to export the private keys in plain text and keep them safely or print them.
Thanks a lot for the answer Omega! Now I have another question for each point  ;D

1) I chose the 2FA installation option, if I try to restore the wallet on a different computer besides the seed is it gonna ask me also for the 2FA the first time or not?

2) Wallet file (.dat) + password, is it basically like a copy-paste of the whole wallet? Where is this file located on a Mac?

3) I don't get one thing, what's exactly the private keys and where are they?

Thanks again!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 06, 2017, 06:34:15 PM
Thanks a lot for the answer Omega! Now I have another question for each point  ;D

1) I chose the 2FA installation option, if I try to restore the wallet on a different computer besides the seed is it gonna ask me also for the 2FA the first time or not?

2) Wallet file (.dat) + password, is it basically like a copy-paste of the whole wallet? Where is this file located on a Mac?

3) I don't get one thing, what's exactly the private keys and where are they?

Thanks again!

1. The wallet will keep asking you for the 2FA unless you restore it using the seed IIRC.
2. http://docs.electrum.org/en/latest/faq.html#where-is-my-wallet-file-located (Paths for Windows, Linux & Mac)
3. The private keys are clearly "private". Its what allows you to spend the funds from an address, each address is related to a private key. You should never give your private keys to anyone, private keys start with (5, L or K). Its somehow useless to take private key backup If your address is multi-signature (address start with 3 instead of 1) as you won't be controlling all private keys in that case so again, seed is the ideal.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ale88 on May 06, 2017, 06:45:50 PM
1. The wallet will keep asking you for the 2FA unless you restore it using the seed IIRC.
Just to be 100% sure about the answer, because I realized that maybe I didn't ask properly: what I wanted to know is that if the 2FA is already enabled and required during the first restore, so in case someone else gets the seed won't be able to restore / steal the wallet because he won't have the 2FA code  ;)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 07, 2017, 02:14:07 PM
Just to be 100% sure about the answer, because I realized that maybe I didn't ask properly: what I wanted to know is that if the 2FA is already enabled and required during the first restore, so in case someone else gets the seed won't be able to restore / steal the wallet because he won't have the 2FA code  ;)

The restore can be done without the 2FA and that's actually a good thing because If you ever lose access to your 2FA, you will be able to restore the funds. So just make sure to store the seed somewhere safe.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ale88 on May 07, 2017, 03:41:49 PM
Thanks again for all the explanations Omega!  ;)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Victory33 on May 10, 2017, 04:54:10 PM
Long time ago I used multibit and I had single address, new multibit has worse design (imo), any way to use old multibit and 1 address? Thanks!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 10, 2017, 05:34:27 PM
Long time ago I used multibit and I had single address, new multibit has worse design (imo), any way to use old multibit and 1 address? Thanks!

Multibit Classic (the old one) is no longer being updated and anyone using it is having a lot of issues (most of them are with the slow transactions and low fees). I really wouldn't suggest using it.

If you only want to use one address then this can be done using Multibit HD, even If the wallet generate a new address each time, you could use one over and over. (just save it in a .txt file and keep giving it to people when you want to receive).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Victory33 on May 11, 2017, 12:43:38 PM
Long time ago I used multibit and I had single address, new multibit has worse design (imo), any way to use old multibit and 1 address? Thanks!

Multibit Classic (the old one) is no longer being updated and anyone using it is having a lot of issues (most of them are with the slow transactions and low fees). I really wouldn't suggest using it.

If you only want to use one address then this can be done using Multibit HD, even If the wallet generate a new address each time, you could use one over and over. (just save it in a .txt file and keep giving it to people when you want to receive).

Thanks for your answer. Yes, I've tried new MultiBit, but I like old design more :) And it's so easy to click and generate new addresses to get coins so you end up with lots of them after a while. Most likely it's just me and I need to get used to new MultiBit.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Deluzi on May 17, 2017, 10:04:32 AM
For android I'm using Coinomi (https://play.google.com/store/apps/details?id=com.coinomi.wallet&hl=sl) wallet, because it supports a lot of coins(DGB, LTC, ETH, and much much more) Coinomi is my hot wallet, I also have offline wallet for safe keeping, thread mentioned Ledger HW.1 wallet.

Is there any other android wallet that has multiple coins for storing?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 17, 2017, 01:24:27 PM
For android I'm using Coinomi (https://play.google.com/store/apps/details?id=com.coinomi.wallet&hl=sl) wallet, because it supports a lot of coins(DGB, LTC, ETH, and much much more) Coinomi is my hot wallet, I also have offline wallet for safe keeping, thread mentioned Ledger HW.1 wallet.

Is there any other android wallet that has multiple coins for storing?

You have jaxx which is also available in multiple platforms (can sync across your devices) as well: https://jaxx.io/ . I must warn you though, Its not really "open source" as they claim, I believe no thefts has been reported so far but I wouldn't use it for storing large amounts If I were you.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: o0Julia0o on May 17, 2017, 08:27:22 PM
who guarantees, that wallets like Copay do not steal my bitcoins?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: bgaf on May 17, 2017, 11:30:45 PM
Wow! I'm so thankful for this information. It's so great to have sometimes someone who have a very good heart sharing this kind of information... God bless you!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ale88 on May 18, 2017, 07:28:44 AM
You have jaxx which is also available in multiple platforms (can sync across your devices) as well: https://jaxx.io/ . I must warn you though, Its not really "open source" as they claim, I believe no thefts has been reported so far but I wouldn't use it for storing large amounts If I were you.
Is Exodus 100% open source or not?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 18, 2017, 07:42:59 AM
who guarantees, that wallets like Copay do not steal my bitcoins?

No one guarantees anything but I believe that Copay is open source for both the client and server side, they also claim that you are controlling your funds without having any third party interfering.

Is Exodus 100% open source or not?

Exodus.io is also not open source but this might change in the future. It was also explained by the developer: https://www.reddit.com/r/Bitcoin/comments/4z5uw4/exodusio_multi_asset_wallet_100_trustworthy/ddi16a0/


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Ctstrphy on May 18, 2017, 06:12:27 PM
Hello. I just want to ask about the Electrum wallet. There are three options for Windows to download: The standalone, windows installer and the portable version. What are the differences of these and which would be best to download?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 19, 2017, 06:24:48 AM
Hello. I just want to ask about the Electrum wallet. There are three options for Windows to download: The standalone, windows installer and the portable version. What are the differences of these and which would be best to download?

The standalone: don't require any installation, data will probably be stored somewhere (AppData folder most likely).
Windows Installer: require an installation and the data will also be stored in the AppData folder.
Portable version: Its an executable that will store the data inside itself (the exe) so you can move it around.

ThomasV (the developer of Electrum) made a warning about Portable version at some point: https://bitcointalk.org/index.php?topic=154451.0
I personally wouldn't go with the Windows Installer or Standalone option.



Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: cryptocoindude on May 23, 2017, 12:40:15 PM
Hi, i have just joined the forum so please forgive my ignorance, I'm trying to understand all the differences with the all the coins/tokens etc and wallets available, i've read quite a lot but some of the reading may already be "old news", I've decided Poloniex for my exchange, what is the consensus for which/what wallet i should have/use? All advice greatly received, thanks.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 23, 2017, 02:13:16 PM
Hi, i have just joined the forum so please forgive my ignorance, I'm trying to understand all the differences with the all the coins/tokens etc and wallets available, i've read quite a lot but some of the reading may already be "old news", I've decided Poloniex for my exchange, what is the consensus for which/what wallet i should have/use? All advice greatly received, thanks.

A real wallet is a wallet that give you control over your private keys, those keys are what allow you spend the bitcoins from your addresses. Poloniex or other exchanges don't give you those keys, they generate an address for you and they control the key. If they ever get hacked, decided to suspend withdrawal, or even try to steal your money, there will be nothing you can do.
So I suggest using a wallet like Electrum for PC, Mycelium for Android, there is nothing wrong on using an exchange but once you are finished trading, withdraw your coins from your Poloniex to your wallet (Electrum,Mycelium, or whatever)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: cryptocoindude on May 23, 2017, 03:55:00 PM
Thanks for the info Omega, i'm thinking of having Jaxx as my wallet, if i understand correct i can hold many types of crypto currency in this wallet.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: appmanfin on May 24, 2017, 06:24:49 PM
I´m looking for wallet that allow multible payments at same time (i have app that pay once per week to users). I use now blockchain but it takes many days to get bitcoins to user.

What are solutions? 5 hours delay is ok but 24 hours not. Small fee is great thing also. I send usually 100k satoshi per user.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 24, 2017, 07:07:33 PM
I´m looking for wallet that allow multible payments at same time (i have app that pay once per week to users). I use now blockchain but it takes many days to get bitcoins to user.

What are solutions? 5 hours delay is ok but 24 hours not. Small fee is great thing also. I send usually 100k satoshi per user.

If you mean sending funds to multiple users in one TXID then Electrum allow doing so and It also has dynamic fees so you could change them as you wish to, low fees and fast transactions don't go along though so at least make sure you are using the recommended fees: bitcoinfees.21.co.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: appmanfin on May 25, 2017, 03:23:48 PM
I´m looking for wallet that allow multible payments at same time (i have app that pay once per week to users). I use now blockchain but it takes many days to get bitcoins to user.

What are solutions? 5 hours delay is ok but 24 hours not. Small fee is great thing also. I send usually 100k satoshi per user.

If you mean sending funds to multiple users in one TXID then Electrum allow doing so and It also has dynamic fees so you could change them as you wish to, low fees and fast transactions don't go along though so at least make sure you are using the recommended fees: bitcoinfees.21.co.
Electrum seems work fine. Thanks!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on May 25, 2017, 05:08:59 PM
I´m looking for wallet that allow multible payments at same time (i have app that pay once per week to users). I use now blockchain but it takes many days to get bitcoins to user.

What are solutions? 5 hours delay is ok but 24 hours not. Small fee is great thing also. I send usually 100k satoshi per user.
If your user wants to use his 100k satoshi, he'll spend half of it on fees. It's better if you pay once per month, you'll pay less fees, and your users get to use a larger share of their earnings.
Bitcoin fees are so high now that 50k satoshi (0.0005 BTC) is almost more or less considered dust.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Igor1388 on May 26, 2017, 01:10:57 AM
So, before I found this blog, I created some wallets at bitaddress.org.  I have two questions. First, I unplugged my network cable from the internet before generating paper wallets.  Is that considered offline and a safe method for paper?  Second, there were several options from "single wallet" to "paper wallet" to "brain wallet", etc.  there is no explanation of the differences. How do I find that out?  BTW, thank you for your post, great info.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on May 26, 2017, 07:08:37 AM
So, before I found this blog, I created some wallets at bitaddress.org.  I have two questions. First, I unplugged my network cable from the internet before generating paper wallets.  Is that considered offline and a safe method for paper?  Second, there were several options from "single wallet" to "paper wallet" to "brain wallet", etc.  there is no explanation of the differences. How do I find that out?  BTW, thank you for your post, great info.

You did good by unplugging your network cable but It would've been better If you ran Ubuntu on LiveCD + download the source code of Bitaddress and running it locally (I assume you did that last part) as well.

The single wallet is simply the private key + address generated, where paper wallet is the same thing as single wallet but with a design (not printed as plaintext) + ability to encrypt private keys+ generate multiple wallets and print them as once.
A brainwallet refers to the concept of storing Bitcoins in one's own mind by memorizing a mnemonic recovery seed. (from Bitcoin wiki)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: joseafonso123az on May 26, 2017, 10:18:37 PM
At the moment I have a Blockchain account. Good to know about the other ways to store btc. I can see that the hardware storage can be a safe storage for cold storage. Might aswell buy one. Thank you for the information :D


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: cryptowillem on June 03, 2017, 12:26:01 PM
Some wallet experienced people here?

What is the best wallet for bitcoin, just want to store some coins (so easy to use)?

Is there some kind of wallet where you can store and send several coins from, so you don't have 10 different wallets to keeping update?

Thanks in advance!  ;D


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on June 03, 2017, 01:19:33 PM
Some wallet experienced people here?

What is the best wallet for bitcoin, just want to store some coins (so easy to use)?

Is there some kind of wallet where you can store and send several coins from, so you don't have 10 different wallets to keeping update?

Thanks in advance!  ;D

Electrum (bitcoin only) is the way to go If you want have full control of your wallet. Multi coin wallets like Jaxx and Exodus are also good but they are not open source, so It's up to you If you want to use them or not.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: cryptowillem on June 03, 2017, 02:12:21 PM
Some wallet experienced people here?

What is the best wallet for bitcoin, just want to store some coins (so easy to use)?

Is there some kind of wallet where you can store and send several coins from, so you don't have 10 different wallets to keeping update?

Thanks in advance!  ;D

Electrum (bitcoin only) is the way to go If you want have full control of your wallet. Multi coin wallets like Jaxx and Exodus are also good but they are not open source, so It's up to you If you want to use them or not.

Thanks, will check your tips later tonight!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: mirsazid on June 06, 2017, 10:51:39 AM
How can i create a Cold Storage to use my desktop? And how much cost to be build it ?  And what are the best option for Cold Storage? 


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: MostHigh on June 06, 2017, 04:46:28 PM
so as a beginner, a friend advice me to use paper wallet but i want to know if i can generate the code and write it on a paper without using the printer


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on June 06, 2017, 04:48:58 PM
How can i create a Cold Storage to use my desktop? And how much cost to be build it ?  And what are the best option for Cold Storage? 
Cold storage simply means a device that isn't used for anything else and isn't connected to the internet. You can decide on the specifics yourself.

so as a beginner, a friend advice me to use paper wallet but i want to know if i can generate the code and write it on a paper without using the printer
I don't see why not.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: nattybit on June 08, 2017, 09:26:41 AM
Is Blockchain another type of wallet? What kind?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on June 08, 2017, 09:46:26 AM
Is Blockchain another type of wallet? What kind?

If you are speaking about Blockchain.info than It's an online wallet, If you are speaking about Blockchain in general, Its a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly. (from google)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Apeopus on June 10, 2017, 09:50:36 AM

I think it would be good to add a section on brain wallets, and the importance of good passwords. Bitaddress.org for instance offers Brain Wallets. It has a warning to use a strong password, but I don't think enough people know that passwords like {1summer2leo3phoebe are not strong enough (source (http://eprint.iacr.org/2016/103.pdf)) and can be hacked brute force.


Im really interested in brain wallets if anyone could explain how they work.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: achow101 on June 10, 2017, 06:02:48 PM
Im really interested in brain wallets if anyone could explain how they work.
Brain wallets are a type of wallet where the private key is derived from a passphrase and salt that you remember. The important details are stored in your brain, hence brain wallet. However, brain wallets are highly insecure because the human mind is horrible at generating secure enough passphrases. Humans simply cannot provide enough randomness in order to make a private key securely.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Cryptomillionaires on July 03, 2017, 12:18:13 AM
I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. Smiley


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Muhammed Zakir on July 03, 2017, 04:16:01 AM
I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. Smiley

You can use one of them for both or you can use one or more for different purposes (this is not needed). When receiving payment, you can use different addresses so that you can easily identify the source!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: whisperit on July 09, 2017, 09:16:54 AM
Noob question here: is such a thing like multi-coin desktop wallet is technically possible?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on July 09, 2017, 09:46:54 AM
Noob question here: is such a thing like multi-coin desktop wallet is technically possible?
Yes we have a couple of them, I'd suggest going with Exodus.io . It's currently supporting a decent amounts of coins and there are plans to add others as well, in addition to the hardware wallets support. I also made a topic about them on the service discussion section so If you have any questions, feel free to post there.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: whisperit on July 09, 2017, 10:16:51 AM
Noob question here: is such a thing like multi-coin desktop wallet is technically possible?
Yes we have a couple of them, I'd suggest going with Exodus.io . It's currently supporting a decent amounts of coins and there are plans to add others as well, in addition to the hardware wallets support. I also made a topic about them on the service discussion section so If you have any questions, feel free to post there.
Great, thank you! I'll go and read that topic now :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Eram on July 17, 2017, 07:26:47 AM
I was pointed to this thread to ask questions about wallets etc, so here it is:

I have a wallet at clockchain.info and with the coming date of 1 augsut, people advise to take measures as to keep access to ones wallet.
I read about several options, one of which is to download the wallet onto a private computer which can be disconnected from internet.
that's no option for me, so I guess that leaves me the option of exporting my private key onto a peace of paper?

I was reading on a website how to proceed, but the website starts with stating that such a procedure must only be considered as a last resort (don't know why).
https://github.com/OmniLayer/omniwallet/wiki/Exporting-Private-Key-from-Blockchain.info-and-Importing-to-Omniwallet.org (https://github.com/OmniLayer/omniwallet/wiki/Exporting-Private-Key-from-Blockchain.info-and-Importing-to-Omniwallet.org)


In any case.
My question really is:
Can someone explain to me what is safe to do with the coming decisions regarding the hard fork proposal on 1 august?
Should I export a private key and how do I do it?

thanks in advance.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: DUCKSLAYER on July 23, 2017, 02:02:04 PM
In advance, im sorry if this isnt the right place to post my question or if it needs to be moved i please mods do so
 
 Im new to bitcoin and trying to get the ball rolling on a wallet. Can anyone recommend a wallet that works well with US banks? ive tried a few and cant get my account to verify over a few weeks now. i tried bitfinex and it doenst have validation for US id's nor will it take my phone #? am i missing something?? is bitcoin not allowed in US? Ive tried several searches on the forum and i havent found any help. thanks in advance!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on July 23, 2017, 02:32:09 PM
In advance, im sorry if this isnt the right place to post my question or if it needs to be moved i please mods do so
 
 Im new to bitcoin and trying to get the ball rolling on a wallet. Can anyone recommend a wallet that works well with US banks? ive tried a few and cant get my account to verify over a few weeks now. i tried bitfinex and it doenst have validation for US id's nor will it take my phone #? am i missing something?? is bitcoin not allowed in US? Ive tried several searches on the forum and i havent found any help. thanks in advance!

I believe you mean 'exchanges' more then 'wallets'. A lot of exchanges are based on the U.S, I suggest trying Coinbase, Gemini, Kraken. After buying, I suggest withdrawing your funds to an actual wallet like Electrum because If you keep them on the exchanges, they will be the one controlling your funds technically and not you.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: masterv09 on July 25, 2017, 12:20:33 AM
Another newbie question ...

I have just installed Electrum in order to transfer my BTC from Coinbase to my wallet and hold the private keys.

I'm looking for the simplest, but secure method, but not sure if I should create a standard wallet or a wallet with two-factor authentication.

I am also still trying to understand, in what part of the process of moving my BTC from Coinbase to my Electrum wallet do private keys get generated or are available to me to either store as a paper wallet, or store on my Trezor, once it arrives on July 28th.

I'm missing a clear understanding of how private keys are moved to my Electrum wallet when I go to transfer my BTC from Coinbase to my wallet.
Also, how to I create a paper wallet, once my BTC are transferred from Coinbase to my Electrum wallet.

(I hope I am asking these questions in the right are of the forum)

thanks
regards


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on July 25, 2017, 06:33:01 AM
Another newbie question ...

I have just installed Electrum in order to transfer my BTC from Coinbase to my wallet and hold the private keys.

I'm looking for the simplest, but secure method, but not sure if I should create a standard wallet or a wallet with two-factor authentication.

I am also still trying to understand, in what part of the process of moving my BTC from Coinbase to my Electrum wallet do private keys get generated or are available to me to either store as a paper wallet, or store on my Trezor, once it arrives on July 28th.

I'm missing a clear understanding of how private keys are moved to my Electrum wallet when I go to transfer my BTC from Coinbase to my wallet.
Also, how to I create a paper wallet, once my BTC are transferred from Coinbase to my Electrum wallet.

(I hope I am asking these questions in the right are of the forum)

thanks
regards

Each address has a private key that allow you to spend the funds from that specific address. If we take Coinbase case, It's the company who control these keys so they actually control the bitcoins in your account. Once you send the money to your Electrum wallet, you have a full control on them and you could even export them If you want to (no need to do that though).

A standard wallet is safe really as long as the PC is clean, If you have reasons to believe that your PC is infected or something then wait until your Trezor comes and send them there. As for the paper wallet you want to create, there is no reason to use Electrum for that, use this Bitaddress.org and send your funds there directly from Electrum, make sure to download the site source code and run it locally, never trust something online.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: masterv09 on July 25, 2017, 10:24:18 PM
Thanks for the great feedback, that helps a lot.

I would wait for my Trezor to come (it should arrive by July 28th), and just transfer my BTC from Coinbase to my Trezor, but I am worried that with the recommendations to make sure to get 30 confirmations (vs 6 confirmations), that may take a while and if I wait for my Trezor, I may not have enough window of time before Aug. 31st to get my BTC out of Coinbase.

Additional question.
If create a standard Electrum wallet and go ahead and transfer my BTC from Coinbase. I can still transfer my BTC to my Trezor when it comes, correct, as I understand that Electrum supports Trezor, right ?

I am still a bit confused about paper wallets. It was mentioned I don't have to use Electrum for that, I can use Bitaddress.org and send my BTC there directly from Electrum, but not to use the online site, to download the source code and run it locally.
If I did that, the paper wallet would contain the private keys, which I would store in a secure location(s), safe and/or safe deposit box.
Would that mean that my BTC are no longer in my Electrum wallet and to spend my BTC or transfer to poloniex or back to Coinbase to either sell or trade later on, once the "All Clear" signal has been given that the BIP-148 and/or UAHF is all over, would I have to transfer my BTC from my paper wallet back to my Electrum wallet, and how would I do that ?

I guess there is no need anyway for a paper wallet, if I plan to transfer my BTC to my Trezor in a couple days, except any risk that my private keys are sitting in my Electrum wallet, on a computer connected to the internet, unless I want to have better security for my private keys for the few days while waiting for my Trezor ...
Am I making any sense here ?

thanks again for all the great feedback !!
:-)
regards


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on July 26, 2017, 08:53:26 AM
Thanks for the great feedback, that helps a lot.

I would wait for my Trezor to come (it should arrive by July 28th), and just transfer my BTC from Coinbase to my Trezor, but I am worried that with the recommendations to make sure to get 30 confirmations (vs 6 confirmations), that may take a while and if I wait for my Trezor, I may not have enough window of time before Aug. 31st to get my BTC out of Coinbase.

You will get enough confirmations, It could take a few hours but definitely not more then a day assuming that Coinbase algorithm for paying the fees is good enough.

Additional question.
If create a standard Electrum wallet and go ahead and transfer my BTC from Coinbase. I can still transfer my BTC to my Trezor when it comes, correct, as I understand that Electrum supports Trezor, right ?

You can interact with your Trezor device either from Electrum or using their official application/extension: https://wallet.trezor.io/#/
Just to clear things, If you are going to transfer funds from Coinbase to Trezor, the funds will actually be on the trezor device even If you use Electrum as an intermediary to interact with your Trezor.

I am still a bit confused about paper wallets. It was mentioned I don't have to use Electrum for that, I can use Bitaddress.org and send my BTC there directly from Electrum, but not to use the online site, to download the source code and run it locally.
If I did that, the paper wallet would contain the private keys, which I would store in a secure location(s), safe and/or safe deposit box.
Would that mean that my BTC are no longer in my Electrum wallet and to spend my BTC or transfer to poloniex or back to Coinbase to either sell or trade later on, once the "All Clear" signal has been given that the BIP-148 and/or UAHF is all over, would I have to transfer my BTC from my paper wallet back to my Electrum wallet, and how would I do that ?

A reminder: You need the private keys in order to spend the funds.

If you generated the address and private keys using Bitaddress.org and printed them and you sent from Electrum to that printed address, the funds will disappear from Electrum and you won't be able to spend them from Electrum anymore.

If you didn't use Bitaddress.org however, exported the private keys from Electrum (check the menu), copied and pasted them on a text file and printed them, then you will have your funds both in the paper and in Electrum.

The second option clearly defeats the whole purpose from having a paper wallet which is having your funds offline, the PC where electrum is installed is connected to the internet and that's less secure and If someone get access to your PC and your wallet, then the funds on that paper will disappear as well.

Paper wallets are meant for long term storage and not for using them on a daily basis. If you want to use funds from it at some point, then import them into a wallet like Bitcoin Core, Electrum or Mycelium (Android).

If your funds are on your Trezor, It doesn't really matter even If your computer have malwares because funds can't move from the wallet unless there is a physical interaction with the trezor device (you click the button). I believe you want to be using bitcoins on a regular basis, so go with Trezor instead of paper wallets.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: masterv09 on July 26, 2017, 09:44:40 PM
Thanks so much for the additional info ... I waited and my Trezor came today (2 days early - kudos to Amazon shipping !)

I will proceed to transfer my BTC from Coinbase to my new Trezor !

Thanks again for all the info and help !!
:-)
much appreciated !!
regards.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: masterv09 on July 26, 2017, 10:37:30 PM
So ... I have initiated BTC transfer from Coinbase to my Trezor.
Coinbase posted a message ...
"Transaction Delays
We're currently working through a backlog of Bitcoin and Ethereum withdrawals. Recent outbound BTC and ETH transactions may remain pending longer than expected."

I started the transaction about 30 minute ago, and zero confirmations to this point.

Given the transaction delays Coinbase mentions and BIP-91 activation in progress ... Any advice on how long might be the amount of time that should be acceptable to wait for confirmations (I believe 30 confirmations was mentioned in another forum post ?)

thank
regards


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: masterv09 on July 27, 2017, 12:19:21 AM
So ... its been about 2 hours since I started the transfer of BTC from Coinbase to my Trezor.
On my Trezor wallet software, the transaction has shown up with a time stamp (as per the Trezor documentation)

When I click on the time stamp link, it takes me to a transaction link that shows the details of the transaction.
Currently it shows 8 confirmations.
When I look on my Coinbase account, the sent transaction still shows "pending"

I can't find any info on Coinbase about how may confirmations it takes for the send transaction to show completed.
I'm assuming that is why it still shows pending on Coinbase, and 0 BTC in my Coinbase BTC wallet.
But, my Trezor wallet software shows the correct amount of BTC (minus the fee)

Is this normal ?

thanks

regards


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: masterv09 on July 27, 2017, 06:18:28 AM
So it took approx. four hours to get 30 confirmations of transfer of BTC from Coinbase to my Trezor.
But, finally there !!

So, I have another newbie question about Trezor.
Now that my BTC have been transferred to my Trezor wallet.
How do I access/see my BTC private keys ?

thanks
regards


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on July 27, 2017, 06:32:49 AM
So it took approx. four hours to get 30 confirmations of transfer of BTC from Coinbase to my Trezor.
But, finally there !!

So, I have another newbie question about Trezor.
Now that my BTC have been transferred to my Trezor wallet.
How do I access/see my BTC private keys ?

thanks
regards

IIRC they never give you a direct access to them, the private keys are on the device and never leave it. I believe they gave you a recovery seed when you started using the wallet? If at some point, your trezor is lost or not working anymore, you can use these words to recover your funds at another wallet like Mycelium or Electrum.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: masterv09 on July 27, 2017, 07:58:07 PM
So it took approx. four hours to get 30 confirmations of transfer of BTC from Coinbase to my Trezor.
But, finally there !!

So, I have another newbie question about Trezor.
Now that my BTC have been transferred to my Trezor wallet.
How do I access/see my BTC private keys ?

thanks
regards

IIRC they never give you a direct access to them, the private keys are on the device and never leave it. I believe they gave you a recovery seed when you started using the wallet? If at some point, your trezor is lost or not working anymore, you can use these words to recover your funds at another wallet like Mycelium or Electrum.

Thanks for the additional feedback !!
Ok, so that makes sense that the private keys are stored on the Trezor (even though I can't see them). But I have yet to test spending any BTC from my Trezor.
Yes, during initial setup of the Trezor, to have to create a PIN and a 24 word recovery seed, which you save on a recovery seed card (no electronic copy ever) and store in a safe place. Yes, my understanding is that you can recover your funds if your Trezor is lost, stolen or damages, by importing to another wallet like Electrum, or purchasing a new Trezor and doing a "recover from seed" during initialization of the new Trezor.

I have another question, though it may be more appropriate on the Post thread for BIP 148 preparations ... so will most it there as it has to do with, the BTC-Cash/BTC-ABC hardfork coming Aug. 1st and how to deal with BTC vs. BTC-Cash/BTC-ABC, using my Trezor.

thanks

regards


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on July 28, 2017, 10:18:46 AM
I have another question, though it may be more appropriate on the Post thread for BIP 148 preparations ... so will most it there as it has to do with, the BTC-Cash/BTC-ABC hardfork coming Aug. 1st and how to deal with BTC vs. BTC-Cash/BTC-ABC, using my Trezor.

thanks

regards

If you was using another wallet, say Bitcoin Core or Electrum, you would just export the private keys and import them into another wallet that actually support BitcoinCash in order to claim your new coins. As for Trezor, they made a blog post[1] regarding this:

Quote
We will provide an interface, accessible from TREZOR Wallet, where you can access and safely claim your Bitcoin Cash coins. You will be prompted by TREZOR Wallet once you select “Bitcoin Cash” in the currency selector.

I believe after they make the modifications to their software, you should be able to see (after 1st august) both your BTC and BCC in your Trezor wallet and you can send whichever you want without problems.

[1] https://blog.trezor.io/bitcoin-cash-hard-fork-chain-split-safe-guide-abbe3e9c553f


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Explore597 on August 04, 2017, 05:21:30 PM
Hi!

I´m totally new to this and just installed Electrum. Afterwards I got a little concerned about the two-factor authentication that I did not choose.
It´s supposed to protect us from malware and now I only have the standard wallet.
Tried to reinstall it but didn´t succeed with that one..

Should I be concerned or just go with the standard wallet as a beginner? :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on August 06, 2017, 11:50:42 AM
hi thank you for the complete information just what i really needed as a beginner, just wanna ask if all of the wallets mentioned above are applicable to any country?  thank you

A wallet should work everywhere as this is the whole point from bitcoin, an exchange however could have some restrictions where Its either illegal to use it or an ID verification is needed.

Hi!

I´m totally new to this and just installed Electrum. Afterwards I got a little concerned about the two-factor authentication that I did not choose.
It´s supposed to protect us from malware and now I only have the standard wallet.
Tried to reinstall it but didn´t succeed with that one..

Should I be concerned or just go with the standard wallet as a beginner? :)

If you are holding large amounts of bitcoin, just go with a hardware wallet otherwise a desktop (standard one) is just fine even without the 2FA. If you still want to setup one, go to File -> New/Restore (CTRL+N is the shortcut) and follow the instructions[1].

[1] http://docs.electrum.org/en/latest/2fa.html


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: rainbow169 on August 10, 2017, 08:32:33 AM
Thank so much for the article. Personally I wouldn't recommend Trezor now, given the technical issues it had during the BCC split.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: plexblack on August 13, 2017, 07:05:09 AM
I am new to Bitcoin.  Is the Bitcoin core wallet the best choice for a Windows 10 computer?

Cheers
-Plex


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: TheQuin on August 13, 2017, 08:07:19 AM
I am new to Bitcoin.  Is the Bitcoin core wallet the best choice for a Windows 10 computer?

Cheers
-Plex

It really depends on what your requirements are. I'd suggest reading through this thread from the beginning to get an understanding of the issues involved. That said I personally switched from Bitcoin Core to Electrum because the blockchain is so large now it requires too much disk space and takes too long to synchronize. Electrum still allows me to control the private keys which is the most important thing.



Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on August 13, 2017, 08:47:12 AM
I am new to Bitcoin.  Is the Bitcoin core wallet the best choice for a Windows 10 computer?

Cheers
-Plex

If all you are care about is storing your funds safely then just go with Electrum as Its a lightweight wallet. If you want to help the network by running a full node then go with Bitcoin Core but note that downloading the blockchain (a 120GB file) will be required in that case but If you have large amounts to store then using a desktop wallet may not be suitable, you should go with a hardware wallet instead.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: plexblack on August 17, 2017, 06:45:25 PM
I am new to Bitcoin.  Is the Bitcoin core wallet the best choice for a Windows 10 computer?

Cheers
-Plex

If all you are care about is storing your funds safely then just go with Electrum as Its a lightweight wallet. If you want to help the network by running a full node then go with Bitcoin Core but note that downloading the blockchain (a 120GB file) will be required in that case but If you have large amounts to store then using a desktop wallet may not be suitable, you should go with a hardware wallet instead.

This info was very helpful.  Thank you!  I'll give the Electrum wallet a look.  How do you feel about the Bitcoin.com wallet?

Cheers
-Plex


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on August 17, 2017, 07:06:04 PM
This info was very helpful.  Thank you!  I'll give the Electrum wallet a look.  How do you feel about the Bitcoin.com wallet?

Cheers
-Plex

I'm not aware of any wallets made by Bitcoin.com. If you are talking about btc.com then I do use their wallet and Its good but the same rules applies for all online wallets, Its never recommended to store large amounts there, and If you are going for that wallet, make sure you take a copy of the recovery PDF and print it as well, If their services goes down for one reason or another and you don't have the recovery document, your funds will be lost.


Title: Encrypting BIP44 24 words
Post by: mallman1960 on August 17, 2017, 07:50:50 PM
Hi, a quick question.

I'm using a wallet with 12 or 24 seed words that it generates when first created. 

My question is, can I turn link those words to a Passphrase I can remember?  Sort of like a Brain Wallet?  In other words, can I run a readily available program, preferably on-line or on my phone, that will take my Passphrase and turn it into my 24 word seed?  I can remember my complicated Passphrase, but I can't remember the 24 words.

My goal is to be able to throw away my 24 word list for security purposes, but be able to recreate my HD wallet because I know my personal Passphrase.

Thanks!
Mike


Title: Re: Encrypting BIP44 24 words
Post by: Lauda on August 17, 2017, 07:53:22 PM
My question is, can I turn link those words to a Passphrase I can remember? ... In other words, can I run a readily available program, preferably on-line or on my phone, that will take my Passphrase and turn it into my 24 word seed?  I can remember my complicated Passphrase, but I can't remember the 24 words.
I am not aware of any program that does this, so the answer to your question is no.

Sort of like a Brain Wallet? 
Brain wallets are inherently unsafe due to the lack of entropy. Do not use them.

My goal is to be able to throw away my 24 word list for security purposes, but be able to recreate my HD wallet because I know my personal Passphrase.
Write them down somewhere.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Rinaze on August 18, 2017, 08:50:51 AM
Does a non-miner full node (Bitcoin Core) really help the BTC community in general - in term of keeping it more decentralized and having more privacy for yourself but at the same time more prone to hacker attack?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on August 18, 2017, 08:55:05 AM
Does a non-miner full node (Bitcoin Core) really help the BTC community in general - in term of keeping it more decentralized and having more privacy for yourself
It does.

but at the same time more prone to hacker attack?
No. It is quite the opposite. With Bitcoin Core, and its superior code, you are less prone to be compromised. Then again, you could compromise your system via other methods thus the wallet that you're using is entirely irrelevant.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: StrikeBr on August 19, 2017, 04:42:22 AM
if I have bitcoins in my desktop wallet and I'm needing format the hd, I'll lost the bitcoins after format the HD?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on August 19, 2017, 08:12:41 AM
if I have bitcoins in my desktop wallet and I'm needing format the hd, I'll lost the bitcoins after format the HD?


You won't lose it in three cases:

1. If you are using a wallet that give you a 12 words passphrase (e.g Electrum) and you write them down somewhere safe, even If you format your hard drive, you can restore the wallet afterwards with that passphrase.

2. If you exported the private keys for the addresses that contains funds and printed them (or simply kept them safe on a USB stick), you can then import them back later.

3. You have the backup of wallet.dat and you know the password (If its encrypted)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: segflo on August 19, 2017, 05:25:48 PM
I'm consindering buying a new low-price laptop and printer to create offline paper wallets.

Do you think there is any security risk in selling the laptop and printer after I have created the paper wallets? Can the new owner get access to the created and printed paper wallets? Or am I just paranoid?

Thanks


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: LoyceV on August 19, 2017, 05:41:46 PM
I'm consindering buying a new low-price laptop and printer to create offline paper wallets.
Why don't you use a Linux LIVE CD/DVD? Say Knoppix, or Ubuntu?
You can even order it pre-made from https://bitcoinpaperwallet.com/ for 0.007 BTC, but you can download it for free by yourself too.

Quote
Do you think there is any security risk in selling the laptop and printer after I have created the paper wallets? Can the new owner get access to the created and printed paper wallets? Or am I just paranoid?
This depends on what you do with the laptop, and how smart the printer is.
Personally, I wouldn't go online with that laptop after making paper wallets, before completely wiping the hard drive.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: jamalnasir on August 22, 2017, 06:51:29 PM
Does there really need to be this much analysis tho? I feel you can just choose the mos tpopular one and you'll be fine

I'm a beginner though too :/
There are many options and wallet types to choose from depending on your needs. That's why we tried to cover as much as possible. It comes down to security and privacy. If you go with e.g. Electrum, you should be fine.

Hi Laura

I've two queries please:

- can I use Electrum in an offline laptop? like will it work without internet connection? if so, the key or the coins that I receive in it will be secure (we can call it paper-wallet, but it can be a hot-wallet if used online?)

- can I also receive other crypto-currencies in Electrum?

- since my plan is to keep bitcoin and other currencies that I buy for long-term. Should I just receive them in my electrum wallet and sleep on it or should I keep on checking it at regular intervals? Kindly explain....


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on August 22, 2017, 06:55:14 PM
- can I use Electrum in an offline laptop?
Depends on what you mean with the word 'use'. Can you receive coins? Absolutely. Will you be able to see the updated balance from that machine? No. However, you can create a watch-only wallet on an online machine.

If so, the key or the coins that I receive in it will be secure (we can call it paper-wallet, but it can be a hot-wallet if used online?)
That's not a paper wallet. The coins should be secure as long as the system itself isn't compromised.

- can I also receive other crypto-currencies in Electrum?
No.

- since my plan is to keep bitcoin and other currencies that I buy for long-term. Should I just receive them in my electrum wallet and sleep on it or should I keep on checking it at regular intervals? Kindly explain....
You don't need to check up on it at all. As long as the: 1) Machine is properly set up and working. 2) You've made at least 1 backup of your recovery seed. 3) You know/you have the list of addresses from your wallet. You can check the current balance with any blockchain explorer. thus not have to turn on the laptop with the wallet at all.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: jamalnasir on August 22, 2017, 07:07:29 PM
- can I use Electrum in an offline laptop?
Depends on what you mean with the word 'use'. Can you receive coins? Absolutely. Will you be able to see the updated balance from that machine? No. However, you can create a watch-only wallet on an online machine.

If so, the key or the coins that I receive in it will be secure (we can call it paper-wallet, but it can be a hot-wallet if used online?)
That's not a paper wallet. The coins should be secure as long as the system itself isn't compromised.

- can I also receive other crypto-currencies in Electrum?
No.

- since my plan is to keep bitcoin and other currencies that I buy for long-term. Should I just receive them in my electrum wallet and sleep on it or should I keep on checking it at regular intervals? Kindly explain....
You don't need to check up on it at all. As long as the: 1) Machine is properly set up and working. 2) You've made at least 1 backup of your recovery seed. 3) You know/you have the list of addresses from your wallet. You can check the current balance with any blockchain explorer. thus not have to turn on the laptop with the wallet at all.

Thanks Lauda. Still have a few more queries plz...

1. What I meant was that can the software Electrum be run(used) without an internet connection. I guess it can be.
2. If I plan to exchange some more USD to bitcoin, can I receive it in my paper-wallet? I think its yes, or do I need to create a new wallet with Electrum? 3. When I want to use the coins, the bar-code from the paper wallet can be scanned and used, rite?
4. is there any other reliable desktop application that can be used to receive other crypto-currencies? I think it would be better to store all of them in one place instead of several location to easily keep track of them all. What do you think?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Spinbackup on August 23, 2017, 11:53:57 PM
How dangerous are cold wallets with bluetooth connection (not a wired USB)?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on August 24, 2017, 07:14:00 AM
1. What I meant was that can the software Electrum be run(used) without an internet connection. I guess it can be.
Most wallets, which give you complete control of your coins (and I emphasize this), do work without an internet connection. However, you won't see any transaction/balance changes since the last time that you've synchronized.

2. If I plan to exchange some more USD to bitcoin, can I receive it in my paper-wallet? I think its yes, or do I need to create a new wallet with Electrum?
You can receive it on the paper wallet.

3. When I want to use the coins, the bar-code from the paper wallet can be scanned and used, rite?
Correct. Just make sure to double check the address just in case.

4. is there any other reliable desktop application that can be used to receive other crypto-currencies? I think it would be better to store all of them in one place instead of several location to easily keep track of them all. What do you think?
Try Jaxx or Exodus wallet.

How dangerous are cold wallets with bluetooth connection (not a wired USB)?
Absolutely not recommended. There are several ways to attack Bluetooth connections.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: jamalnasir on August 24, 2017, 09:05:28 AM
1. What I meant was that can the software Electrum be run(used) without an internet connection. I guess it can be.
Most wallets, which give you complete control of your coins (and I emphasize this), do work without an internet connection. However, you won't see any transaction/balance changes since the last time that you've synchronized.

2. If I plan to exchange some more USD to bitcoin, can I receive it in my paper-wallet? I think its yes, or do I need to create a new wallet with Electrum?
You can receive it on the paper wallet.

3. When I want to use the coins, the bar-code from the paper wallet can be scanned and used, rite?
Correct. Just make sure to double check the address just in case.

4. is there any other reliable desktop application that can be used to receive other crypto-currencies? I think it would be better to store all of them in one place instead of several location to easily keep track of them all. What do you think?
Try Jaxx or Exodus wallet.

How dangerous are cold wallets with bluetooth connection (not a wired USB)?
Absolutely not recommended. There are several ways to attack Bluetooth connections.

Jaxx and Exodus both don't support ripple. any other multi-coin wallet that you can recommend plz


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on August 24, 2017, 06:55:14 PM
Jaxx and Exodus both don't support ripple. any other multi-coin wallet that you can recommend plz
The only thing that I can recommend: Do not use a centralized turd such as Ripple. I know of no other wallets, not that I'd ever actually recommend a multi-coin wallet.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: jamalnasir on August 25, 2017, 12:23:26 PM
Jaxx and Exodus both don't support ripple. any other multi-coin wallet that you can recommend plz
The only thing that I can recommend: Do not use a centralized turd such as Ripple. I know of no other wallets, not that I'd ever actually recommend a multi-coin wallet.

thanks. reason of not recommending multi-coin wallet?

i guess hardware wallet would be best for multi-coin storage?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on August 28, 2017, 08:51:30 AM
thanks. reason of not recommending multi-coin wallet?
1 wallet software gets compromised -> all your coins are gone. When you keep them separate, aside from a potential compromise in the system itself, it should be generally safer. They have also shown not to have good security practices in the past (see a few reported issues with Jaxx).

i guess hardware wallet would be best for multi-coin storage?
The best is to keep them separate, and optimally on separate machines or VMs.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Natalie Les on August 28, 2017, 08:53:09 PM
Control your private keys
Services like Coinbase and Circle offer “Bitcoin wallets”, but in reality control your private keys. It’s best to use a wallet where you control your private keys. This is the only way to have full control of your funds and not have to rely on third parties for security.


Hi, I heard lots of non-flattery words about Coinbase and "better not to use attitude". Could you tell me why is that?

Trying to understand which are the best ones

Would appreciate any info


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on August 29, 2017, 08:45:32 AM
Control your private keys
Services like Coinbase and Circle offer “Bitcoin wallets”, but in reality control your private keys. It’s best to use a wallet where you control your private keys. This is the only way to have full control of your funds and not have to rely on third parties for security.


Hi, I heard lots of non-flattery words about Coinbase and "better not to use attitude". Could you tell me why is that?

Trying to understand which are the best ones

Would appreciate any info

The part you quoted explains exactly why but in details, the private keys is what allow you to send funds but in coinbase case, they control it. If they get hacked (or claim that they got hacked), there is nothing you can do about it. If the service goes offline for long maintenance, you can't do anything either. If they notice suspicious activity in your account, they could close it until you provide what they ask etc. It's really not worth it, just go with a Desktop wallet like Electrum.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Arngrim on August 30, 2017, 01:54:55 AM
Whoever created this is an angel. I have been looking everywhere for a more informative definition and here it is.
Thank you.
I am using an android and want everything to be fast. I read it micyleum? Is electrum application also a good choice?
For a new user what would be the user friendly.
Sorry for my bad English.

Okay I edited it.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Jason C. on September 01, 2017, 02:57:40 AM
Heard some bad review about Blockchain.info. Any comment?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on September 01, 2017, 06:14:31 AM
I read it micyleum?
Mycelium.

Is electrum application also a good choice?
Electrum is pretty decent for Android, and pretty great as a SPV wallet for desktops.

For a new user what would be the user friendly.
One of those two should do.

Heard some bad review about Blockchain.info. Any comment?
You should not be using any kind of web wallets.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: merj99 on September 02, 2017, 02:37:06 PM
WOW @Lauda - great information. Very thorough.
I'm currently looking for cold storage options for some of my alt coin. Gotta start somewhere to be a crypto-millionaire, right?   8)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: merj99 on September 02, 2017, 02:47:21 PM
Control your private keys
Services like Coinbase and Circle offer “Bitcoin wallets”, but in reality control your private keys. It’s best to use a wallet where you control your private keys. This is the only way to have full control of your funds and not have to rely on third parties for security.


Hi, I heard lots of non-flattery words about Coinbase and "better not to use attitude". Could you tell me why is that?

Trying to understand which are the best ones

Would appreciate any info

I only started getting more serious about Bitcoin and alt coins when I started blogging on Steemit and the majority of my connections have complained about Coinbase. Some complained of high fees, others complained about inconsistent servers, long down times for maintenance, and some were just complaining because there is a severe lack of good choices. So without any good or bad personal experience I've steered clear of those 3rd party services. There is so much to learn and the rabbit hole gets deeper. I like the idea of having control over my funds and have been seeking out offline cold storage for my accumulated alts.



Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on September 02, 2017, 03:02:22 PM
I'm currently looking for cold storage options for some of my alt coin.
Ledger Nano S.

I only started getting more serious about Bitcoin and alt coins when I started blogging on Steemit
Step 1) Do not use Steemit.

and the majority of my connections have complained about Coinbase.
Step 2) Do not use Coinbase.

-snip-
Step 3) Get some elementary education. Anyone who uses Coinbase, or any other exchange or online service as a wallet is an idiot. Those are not meant to be wallets, and you are not in control of "your" coins (unless in cases where they give you private keys but that is not usual for either one).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: merj99 on September 02, 2017, 03:44:25 PM
I'm currently looking for cold storage options for some of my alt coin.
Ledger Nano S.

I've heard of Ledger Nano S. Will definitely look into it. Thanks!

I only started getting more serious about Bitcoin and alt coins when I started blogging on Steemit
Step 1) Do not use Steemit.
Alas, it's too late. I've been blogging there for over a year and I love it. LOL

and the majority of my connections have complained about Coinbase.
Step 2) Do not use Coinbase.
Never have and never will.
And where exchanges are concerned, I've gotten away from Poloniex too.


-snip-
Step 3) Get some elementary education. Anyone who uses Coinbase, or any other exchange or online service as a wallet is an idiot. Those are not meant to be wallets, and you are not in control of "your" coins (unless in cases where they give you private keys but that is not usual for either one).
I ordered a $30 book: Mastering Bitcoin. Unfortunately I have a community mailbox and someone else needed it more than me. GRRR. I'm learning something new every day. Kind of wish I paid attention to the Bitcoin geeks about 7 years ago. Yes, I'm an idiot.

Thanks for the quick response! I'm still learning my way around this forum.  :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on September 02, 2017, 03:52:46 PM
I've heard of Ledger Nano S. Will definitely look into it. Thanks!
Here: https://www.ledgerwallet.com/products/ledger-nano-s. You should order right now due to them having a backlog of orders (ATM takes 3-4 weeks to get it delivered).

Alas, it's too late. I've been blogging there for over a year and I love it. LOL
I guess, if you like supporting shitcoins and earning a couple of bucks it ain't that bad.

And where exchanges are concerned, I've gotten away from Poloniex too.
Very shady. Use Gemini (US) or Bitstamp for EU.

I ordered a $30 book: Mastering Bitcoin. Unfortunately I have a community mailbox and someone else needed it more than me. GRRR. I'm learning something new every day. Kind of wish I paid attention to the Bitcoin geeks about 7 years ago. Yes, I'm an idiot.
You do not need no book. The internet has sufficient information for you to become quite experience and familiar with the matter.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: merj99 on September 02, 2017, 04:50:31 PM
Quote
Here: https://www.ledgerwallet.com/products/ledger-nano-s. You should order right now due to them having a backlog of orders (ATM takes 3-4 weeks to get it delivered).

Dang...shipping is almost as much as the wallet, but I digress, the heart wants what the heart wants and it seems like a MUST-HAVE if I want to safely store my coins offline.


Quote
I guess, if you like supporting shitcoins and earning a couple of bucks it ain't that bad.
I really can't complain. They've survived their first year despite Dan Larimer leaving, and my work on Steemit has paid for my glasses, a computer for my son, and an Airbnb rental. I'm gettin' while the gettin's good.


Quote
Very shady. Use Gemini (US) or Bitstamp for EU.
Good gravy! I need to get more organized. So many exchanges...so little coins! LOL


Quote
You do not need no book. The internet has sufficient information for you to become quite experience and familiar with the matter.
You're probably right about the book but there's so much crap on the internet that is hard to sort the legit informational sites from the SPAMMY, join-my-email-list-and-get-your-free-download bullshit.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on September 02, 2017, 05:29:25 PM
Dang...shipping is almost as much as the wallet, but I digress, the heart wants what the heart wants and it seems like a MUST-HAVE if I want to safely store my coins offline.
Not even close if you are in the EU. If not, you could look for a local bitcoin shop of some sorts. They may have such a wallet.

I really can't complain. They've survived their first year despite Dan Larimer leaving, and my work on Steemit has paid for my glasses, a computer for my son, and an Airbnb rental. I'm gettin' while the gettin's good.
Good for you I guess.

Good gravy! I need to get more organized. So many exchanges...so little coins! LOL
There are a lot of them, but you don't need to be touching any of them TBH.

You're probably right about the book but there's so much crap on the internet that is hard to sort the legit informational sites from the SPAMMY, join-my-email-list-and-get-your-free-download bullshit.
Bitcoin.org and the Bitcoin Wiki are very good places.

We have begun to sidetrack too much. Please do not respond in this thread anymore about this stuff. If you want to discuss Steemit, exchanges, or have other questions that are not wallet related please open a new thread.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: jamalnasir on September 03, 2017, 08:59:07 AM
Jaxx and Exodus only support limited no. of altcoins.  Is there no wallet which supports more Cryptos?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on September 03, 2017, 09:30:25 AM
Jaxx and Exodus only support limited no. of altcoins.  Is there no wallet which supports more Cryptos?

You have Coinomi but they currently only support Android, iOS and Desktop are coming soon or you have Eden (which is made by Exodus) It support much more coins but It may not be that stable as Its the test wallet.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: sigtmerchant on September 04, 2017, 08:58:10 PM
Jaxx and Exodus only support limited no. of altcoins.  Is there no wallet which supports more Cryptos?

You have Coinomi but they currently only support Android, iOS and Desktop are coming soon or you have Eden (which is made by Exodus) It support much more coins but It may not be that stable as Its the test wallet.

Coinomi is quite limited too. I mean, they gave quite a few strange coins but not most popular ones, not even all top 20. Thanks for mentioning Eden, will check it out (I use Exodus for a while)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: StephR on September 06, 2017, 11:41:11 AM
Hi

I bought some BTC,LTC,XPR & XMR recently.. My plan is to keep them safe for a long time..

so i would like to store them on a cold storage wallet...

does electrum support all of these coins?
If not can you tell me what software should i use for each coins?

I don't need to make transactions very often so it does not need to be an advanced software..

I just the safest possible..

Plus,if my offline computer crashes.. what are my options to recover my coins?

Thanks!!!


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on September 06, 2017, 11:44:08 AM
does electrum support all of these coins?
No.

If not can you tell me what software should i use for each coins?
To everyone1: Stop asking altcoin questions in this thread and questions that the first Google Search can easily answer, like "Monero Wallet".

I just the safest possible..
Anyone who is asking any questions in this thread will not be able to have a setup that even remotely resembles "safest possible". "Safest possible" does not involve with you asking basic questions. In order to have such a setup, extensive experience and knowledge is require. Time to get some education on cryptocurrencies, no?

Plus,if my offline computer crashes.. what are my options to recover my coins?
Backup the wallet files or seeds depending on the type of wallet on multiple machines/locations.

[1] Answers to such will be swiftly deleted.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Pantum on September 13, 2017, 04:50:09 PM
Hello there! I'm a little new to the btc topic, and have been researching and reading a lot.
Want to make a question here though.
what do you think about having a virtual machine not connected to the internet for saving the priv key, and the main machine for trading, exchange, buying, selling, etc?  ???


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on September 13, 2017, 05:16:56 PM
Hello there! I'm a little new to the btc topic, and have been researching and reading a lot.
Want to make a question here though.
what do you think about having a virtual machine not connected to the internet for saving the priv key, and the main machine for trading, exchange, buying, selling, etc?  ???

What do you mean by a virtual machine? running VMWare for example in your PC? If yes, then how you plug the internet off that virtual machine only? I believe you can't and If that is the case then anyone who get access to your PC, will get access to your machine as well so I don't see the point of using a VM here and for trading, It really doesn't matter, all you need is a browser, just make sure to not store large amounts their, use strong password and 2FA and you should be fine.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Pantum on September 13, 2017, 05:33:23 PM
Hello there! I'm a little new to the btc topic, and have been researching and reading a lot.
Want to make a question here though.
what do you think about having a virtual machine not connected to the internet for saving the priv key, and the main machine for trading, exchange, buying, selling, etc?  ???

What do you mean by a virtual machine? running VMWare for example in your PC? If yes, then how you plug the internet off that virtual machine only? I believe you can't and If that is the case then anyone who get access to your PC, will get access to your machine as well so I don't see the point of using a VM here and for trading, It really doesn't matter, all you need is a browser, just make sure to not store large amounts their, use strong password and 2FA and you should be fine.

Thanks for responding, what I meant is if it would be a good idea to have cold wallet or back up on a VM. And yes, you can actually turn off the internet on the VM. You can even restrict the use of certain hardware on the VM to prevent use of wifi for example. So I got this idea in order to have hot storage and cold storage on the same machine (I only have one PC)

Anyways if it's not possible or not a good idea I guess I could use the 2FA system


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on September 13, 2017, 08:23:16 PM
Thanks for responding, what I meant is if it would be a good idea to have cold wallet or back up on a VM. And yes, you can actually turn off the internet on the VM. You can even restrict the use of certain hardware on the VM to prevent use of wifi for example. So I got this idea in order to have hot storage and cold storage on the same machine (I only have one PC)

Anyways if it's not possible or not a good idea I guess I could use the 2FA system
FYI, that setup is absolutely useless if your host machine is compromised and based on your writing, it is likely that you'd run it on a machine that is frequently used/has access to the internet. People seem to think that a VM container is safe, even if the host itself gets compromised (which is nonsense). Actually, there are (or were) ways of a compromised virtual machine compromising the host.

Recommended practice: Hardware wallet or a laptop/PC that was/will never be used for anything else (post fresh format).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: topuli on October 01, 2017, 08:50:29 PM
Lauda is absolutely right!
Stumbled about an article where someone wrote a short powershell script to get all the wallet.dat files of all VMs on a compromised host.
Even if you use encrypted VMs the security gain is small.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 07, 2017, 09:24:39 AM
Lauda is absolutely right!
Stumbled about an article where someone wrote a short powershell script to get all the wallet.dat files of all VMs on a compromised host.
Even if you use encrypted VMs the security gain is small.
A VM is useless if the host is compromised since the host has access to all files anyways, yes.

What about ledger nano s. Do You think is safe to storie btx?
Yes. The ledger nano S is a fine hardware option for storing Bitcoin. Make sure to backup the seed.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: J.Werner on October 10, 2017, 02:02:41 PM
Very informative. Thanks a lot!
But I have a question: I'm a beginner.. What wallet will be more easy to use and safe for an inexperienced user?  I think to try with Copay... ???


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on October 10, 2017, 03:15:12 PM
Very informative. Thanks a lot!
But I have a question: I'm a beginner.. What wallet will be more easy to use and safe for an inexperienced user?  I think to try with Copay... ???

Go with Electrum for Desktop, Mycelium for Android and If you are holding large amounts which I believe you don't then take a hardware wallet (Trezor/Ledger Nano S).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: J.Werner on October 10, 2017, 05:46:17 PM
Very informative. Thanks a lot!
But I have a question: I'm a beginner.. What wallet will be more easy to use and safe for an inexperienced user?  I think to try with Copay... ???

Go with Electrum for Desktop, Mycelium for Android and If you are holding large amounts which I believe you don't then take a hardware wallet (Trezor/Ledger Nano S).

Great! Thank u!
 I will test with Electrum, for a start  :) :)  A hardware wallet is too early for me.. ;D


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: travbone on October 11, 2017, 02:11:15 PM
Is there a wallet that should handle the upcoming hard fork better than others? I haven't held any coins during previous forks.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 11, 2017, 02:44:35 PM
Is there a wallet that should handle the upcoming hard fork better than others? I haven't held any coins during previous forks.
Any wallet that gives you full control of your private keys should be sufficient. Try Bitcoin Core (full wallet) or Electrum (SPV). However, keep in mind that spending fork coins right after the split will be very dangerous due to lack of replay protection.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: samanthabiolena on October 17, 2017, 03:43:12 PM
There are a lot of bitcoin wallets that anyone can choose from. You just need to know every details about your chosen bitcoin wallet before you store your bitcoins there. You should the limitations and how can you safely store your bitcoins without it being getting lessen or decrease. Because I believe, some other wallets require at least enough bitcoin for you can activate it. It is really important that you choose a bitcoin wallet that is really legit and you would not encounter rough transactions so your earnings won’t put to a waste. It serves as your virtual wallet that you can trust and be secured.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: rstephan on October 17, 2017, 06:19:15 PM
Hello,
i am new in cryptocurrency and in this forum. I have read this introduction of wallets, and now i know how to store and save my bitcoins. Do i need so many different wallets, or is it enough to have just one?
The next question, do i pay fees to transfer from and to my wallets?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 17, 2017, 07:08:47 PM
Do i need so many different wallets, or is it enough to have just one?
One is sufficient. I'd recommend 2-3 wallets if you're holding significant sums but I doubt that you do given your knowledge.

The next question, do i pay fees to transfer from and to my wallets?
Yes. You need to stop thinking of the old definition of a 'wallet'. In Bitcoin it is just a collection of keypairs that makes it easy to use Bitcoin and interact with your addresses. When transferring the *between Bitcoin wallets*, there is no concept of ownership, so whether you're transferring from your address to your own again, or from your address to someone elses, doesn't matter. You need to pay fees.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: rstephan on October 17, 2017, 08:07:51 PM
Do i need so many different wallets, or is it enough to have just one?
One is sufficient. I'd recommend 2-3 wallets if you're holding significant sums but I doubt that you do given your knowledge.

The next question, do i pay fees to transfer from and to my wallets?
Yes. You need to stop thinking of the old definition of a 'wallet'. In Bitcoin it is just a collection of keypairs that makes it easy to use Bitcoin and interact with your addresses. When transferring the *between Bitcoin wallets*, there is no concept of ownership, so whether you're transferring from your address to your own again, or from your address to someone elses, doesn't matter. You need to pay fees.

Thanks for a proper answer. That means i have to diversify my coins on a a few wallets for storage if i invest a large amount of money into cryptocurrency. At the moment i have such a low investment, that it is not profitable to swap all my coins into my wallet. Would u suggest to swap only my longterm coins into the wallet? Some exchanges are going crazy now( a friend told me), should i save them all now?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 17, 2017, 08:11:52 PM
Thanks for a proper answer. That means i have to diversify my coins on a a few wallets for storage if i invest a large amount of money into cryptocurrency. At the moment i have such a low investment, that it is not profitable to swap all my coins into my wallet. Would u suggest to swap only my longterm coins into the wallet? Some exchanges are going crazy now( a friend told me), should i save them all now?
With large amounts I mean 6 digit numbers or more. Maybe 5 digit numbers are a lot of money to you, so doing it at that point might also be sensible. Long term investments should be kept in cold storage and nothing else. Ignore temporary exchange rates for altcoins, 99.9% of them are useless garbage and in speculative bubble mode.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: rstephan on October 17, 2017, 09:32:54 PM
Thanks Lauda,

i do not trade with this amount of money, yet. Maybe in future, but im very carefully with my investments and try to find a save way to store them. Now i know my first steps for my storage strategy.
Thank you a lot.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on October 19, 2017, 05:19:07 PM
Sir how can we Secure our token from the Hackers can you please if we have a ether wallet if it safe from hacking?? thank you... ??? :)

If it's a web wallet like Myetherwallet or a downloadable software then It's safe as long as your PC don't contain any malware. If you have a big amount, I'd suggest going with a hardware wallet.

@Lauda You may want to consider removing Multibit HD as KeepKey dropped the project and no one is maintaining it anymore.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 19, 2017, 05:56:50 PM
If it's a web wallet like Myetherwallet or a downloadable software then It's safe as long as your PC don't contain any malware. If you have a big amount, I'd suggest going with a hardware wallet.
Don't answer altcoin questions or questions that seem very generic as those will be removed.

@Lauda You may want to consider removing Multibit HD as KeepKey dropped the project and no one is maintaining it anymore.
Done. Can you post a source of some statement if such exists? I'd like to read up on it.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on October 19, 2017, 06:10:37 PM
Done. Can you post a source of some statement if such exists? I'd like to read up on it.

You can check the GitHub repository (https://github.com/Multibit-Legacy/multibit-hd) or their blog (https://multibit.org/blog/2017/07/26/multibit-shutdown.html) (same posts).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Kreezy on October 24, 2017, 11:47:11 AM
Thank you for this interessting Information!
But I got a question.
Im a Beginner as u can see, so I dont know that much about Wallets.
I want to use a Wallet on my IPhone but i dont know wich one.
Can you tell me which one is the "best" or easy to understand?

Thank you  :)



Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on October 24, 2017, 11:52:36 AM
Thank you for this interessting Information!
But I got a question.
Im a Beginner as u can see, so I dont know that much about Wallets.
I want to use a Wallet on my IPhone but i dont know wich one.
Can you tell me which one is the "best" or easy to understand?

Thank you  :)



The OP lists the iOS wallets. If I had to choose, I'd go with Breadwallet because it's the most popular among the community.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: berluscoin on October 26, 2017, 05:28:32 PM
Thank you all. I've spent a couple of hours to read carefully this thread and I understand now the importance of having a good and safe wallet.
I am a professional trader and, of course, I've been interested in trading cryptocurrencies lately. I read some books and signed up for a course
to know more and start trading. Almost everyone suggested coinbase so I ended up creating my wallet on coinbase  :(
The good thing is that, being a beginner, I only deposited a small amount of money to practice. Now I want to follow one of these options:
- paper wallet
- hardware (in this case can you advice ledger nano s or trezor?)
- software wallet on an offline computer. For this one, if the computer stops working, can I download the software with another laptop, enter my credentials and get back my coins?

Then, since I'm mainly here as a trader, I have bittrex as exchange. Is it possible to store in the hardware wallet the coins that you buy on bittrex? For example, I have some syscoin and neo, can I store them in the hardware? This question has been asked in February 2017 and the answer was no, so if the answer is still no, do I have the same safety problem that I would have with coinbase?

Thank you soooooo much  :D


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 26, 2017, 05:38:06 PM
- paper wallet
No question?

- hardware (in this case can you advice ledger nano s or trezor?)
Both are good choices with minor differences. It is up to you IMO.

- software wallet on an offline computer. For this one, if the computer stops working, can I download the software with another laptop, enter my credentials and get back my coins?
"Enter my credentials"? That's not how Bitcoin works. There are no credentials. You can install the software offline, and send your coins to an address contained in that wallet. You either: a) Back up the wallet file. b) Back up the private key(s) of the address that you've sent funds to. That way you would also be fine in case of a system failure. Keep in mind that often with computer failures, it is not the HDD that failed and you could extract the file by plugging it in into another computer as well.

Then, since I'm mainly here as a trader, I have bittrex as exchange. Is it possible to store in the hardware wallet the coins that you buy on bittrex? For example, I have some syscoin and neo, can I store them in the hardware?
Only if the hardware wallet supports said coins. For a list of supported coins check out their websites.

This question has been asked in February 2017 and the answer was no, so if the answer is still no, do I have the same safety problem that I would have with coinbase?
Exchanges are not meant to be used for storing coins. Coinbase/GDAX as a means of buying Bitcoin is fine.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: berluscoin on October 26, 2017, 05:53:27 PM
Thanks Lauda, now almost everything is clear. I only have one question about the exchanges.
So let's say that I want to invest in bitcoin, ethereum, neo and syscoin. Ledger nano s can store bitcoin and ethereum, but it can't store neo and syscoin.
What do I do with them? Should I use a second wallet, let's say a desktop one to store them?

Thanks


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 26, 2017, 05:54:43 PM
So let's say that I want to invest in bitcoin, ethereum, neo and syscoin. Ledger nano s can store bitcoin and ethereum, but it can't store neo and syscoin.
What do I do with them? Should I use a second wallet, let's say a desktop one to store them?
Correct.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: berluscoin on October 26, 2017, 06:05:58 PM
So let's say that I want to invest in bitcoin, ethereum, neo and syscoin. Ledger nano s can store bitcoin and ethereum, but it can't store neo and syscoin.
What do I do with them? Should I use a second wallet, let's say a desktop one to store them?
Correct.

Thanks a lot :)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: mai2mai on October 29, 2017, 08:17:11 AM
First of all wanna say thank you for all people who've created this thread.
But I cannot understand one thing. I want to download electrum wallet both on my desktop and my phone, but I don't understand, how do I connect them? And can I use them both for the same bitcoin address? I'm sorry if this kind of a stupid question, but I'm newbie, as you can see) Thank you guys in advance)


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on October 29, 2017, 03:50:47 PM
I want to download electrum wallet both on my desktop and my phone, but I don't understand, how do I connect them?
You can't "connect them".

And can I use them both for the same bitcoin address? I'm sorry if this kind of a stupid question, but I'm newbie, as you can see) Thank you guys in advance)
What you can do is, take the seed of your Electrum wallet on your desktop and import it on your phone. Be cautious when doing something like this and make sure that you don't have funds on your phone. I don't know whether their phone wallet supports multiple wallets at once.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: EMS-007 on October 30, 2017, 10:30:27 PM



You can install the software offline, and send your coins to an address contained in that wallet.

I have already installed my Electrum wallet offline in my pc. Does it mean that i can also make a bitcoin transactions in an offline mode for more  safety and security measure? ???


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: mobilazy on October 31, 2017, 05:39:53 PM
How is Exodus? I cannot find an option to control my key. Should I dump it in favor of Armory? 


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on October 31, 2017, 06:28:17 PM
How is Exodus? I cannot find an option to control my key. Should I dump it in favor of Armory? 

It's not shown by default. You must first make the developer menu appear by pressing CTRL+SHIFT+D then Exodus => Developer => Assets => Bitcoin => Export private keys.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 01, 2017, 07:48:41 AM
I have already installed my Electrum wallet offline in my pc.
Make sure that the PC never touched the network if you want very high levels of security. Also watch out for bogus USBs and similar.

Does it mean that i can also make a bitcoin transactions in an offline mode for more  safety and security measure? ???
You make a transaction on the wallet, then you copy it and broadcast it to the network on another machine.

How is Exodus?
Avoid multi-coin wallets. Use Bitcoin Core, Armory or Electrum.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Belish on November 01, 2017, 08:41:02 AM
Hello, and thank you for the information!
I am new and I just want to check if this is a working solution:
1) Working offline generate address and private key at bitaddress.org - basicaly a paper wallet but I do not want to print it.
2) Back up my private key in note files on 3 different USB flash drives. I know the machine and the drives have to be uncompromised.
3) Send a small amount of my coins from Kraken to the address I created; check the blockchain if it is received; send the full amount to the same address if everything is OK.
I need long term cold storage but I want to keep it simple. As I understand I have to inport the private key in a software later in order to send the money back to exchange again? But everything is OK as long as I have the private key?
So my questions are:
1: should I do it?
2: can I do it for alt coins too?
Thank you in advance. You have been helpfull!



Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 01, 2017, 09:04:05 AM
1) Working offline generate address and private key at bitaddress.org - basicaly a paper wallet but I do not want to print it.
I don't recommend using this website. If you really insist, then you need to save it as a .html and use offline.

2) Back up my private key in note files on 3 different USB flash drives. I know the machine and the drives have to be uncompromised.
Encrypt your USB drives.

3) Send a small amount of my coins from Kraken to the address I created; check the blockchain if it is received; send the full amount to the same address if everything is OK.
Sure.

I need long term cold storage but I want to keep it simple. As I understand I have to inport the private key in a software later in order to send the money back to exchange again? But everything is OK as long as I have the private key?
Yes and yes.

1: should I do it?
If you have a significant amount of money in Bitcoin, absolutely. There are alternatives though, e.g. a hardware wallet.

2: can I do it for alt coins too?
Not all altcoins have something like bitaddress.org, but I take it that you should be able to do something like this for the major ones.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: berluscoin on November 01, 2017, 11:02:03 AM
Hey Lauda, mind to explain why not bitaddress? I have bought the hardware wallet, I also have the web wallet with a small amount just for trading. Now I was going to split the amount I have in the hardware wallet, creating a paper wallet using bitaddress.org
I'll wait for your reply before doing it :P


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 01, 2017, 11:36:29 AM
Hey Lauda, mind to explain why not bitaddress?
It's an online tool/website for generating addresses. It should be obvious to you why you shouldn't use any kind of online tool for address generating unless you want trouble. This does not necessarily mean that you will be compromised, but the likelihood of that is far greater than when generating using an offline wallet or tool.

I have bought the hardware wallet, I also have the web wallet with a small amount just for trading. Now I was going to split the amount I have in the hardware wallet, creating a paper wallet using bitaddress.org
I don't see why you should do that unless you really have a very high amount in that hardware wallet. With high amount I'm talking at least 6 figures.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: berluscoin on November 01, 2017, 12:29:07 PM
Hey Lauda, mind to explain why not bitaddress?
It's an online tool/website for generating addresses. It should be obvious to you why you shouldn't use any kind of online tool for address generating unless you want trouble. This does not necessarily mean that you will be compromised, but the likelihood of that is far greater than when generating using an offline wallet or tool.

I have bought the hardware wallet, I also have the web wallet with a small amount just for trading. Now I was going to split the amount I have in the hardware wallet, creating a paper wallet using bitaddress.org
I don't see why you should do that unless you really have a very high amount in that hardware wallet. With high amount I'm talking at least 6 figures.

What if I save the HTML and go on offline?
I don't have a huge amount for now because I've just started, but I'm planning to invest much more as soon as I have a better understanding about cryptocurrencies.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 01, 2017, 12:31:51 PM
What if I save the HTML and go on offline?
That's why I've already mentioned. Re-read my posts.

I don't have a huge amount for now because I've just started, but I'm planning to invest much more as soon as I have a better understanding about cryptocurrencies.
Well then, I don't see a reason to spend time on complicated cold storage setups unless you feel like experimenting (though this can lead to loss of funds).


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: stepahin on November 01, 2017, 01:38:47 PM
Is there a real difference between Copay and BitPay?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 01, 2017, 01:40:46 PM
Is there a real difference between Copay and BitPay?
Read: https://support.bitpay.com/hc/en-us/articles/115003028366-How-is-the-BitPay-wallet-app-related-to-Copay-How-is-it-different-.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Kyrgyzguy on November 01, 2017, 03:35:15 PM
Which of these android wallets(  Mycelium,Electrum  ) is best used to store bitcoin?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: ArtyomTref on November 01, 2017, 03:43:01 PM
Hi guys! I am the new in bitcoin sphere, just want to plunge into this environment :). Which wallet is suitable for beginners? So sorry for this for such a primitive question, just do not know how to start


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 01, 2017, 04:14:56 PM
Which of these android wallets(  Mycelium,Electrum  ) is best used to store bitcoin?
For storing Bitcoin? Neither. For using with a small spending balance both are good.

Which wallet is suitable for beginners?
SPV: Electrum, Mycelium.
Full Wallet: Bitcoin Core.

So sorry for this for such a primitive question, just do not know how to start
Then don't ask questions, and start actually doing research yourself?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: cointrix11 on November 01, 2017, 10:29:45 PM
I had a question concerning confirmations of a BTC transfer in Windows Electrum versus Android Electrum wallets but I see I can now answer my own question.   When you see a bunch of confirmations in one wallet but not in the other try changing the Electrum server if you don't want to wait (I'm sure waiting longer it would have shown up eventually as verified).   As soon as I did that it showed as Verified on the Android Electrum wallet.   


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 02, 2017, 07:16:37 AM
I had a question concerning confirmations of a BTC transfer in Windows Electrum versus Android Electrum wallets but I see I can now answer my own question.   When you see a bunch of confirmations in one wallet but not in the other try changing the Electrum server if you don't want to wait (I'm sure waiting longer it would have shown up eventually as verified).   As soon as I did that it showed as Verified on the Android Electrum wallet.   
Correct. With an SPV wallet you are relying on a 3rd party for information, which is also why this is not a preferred type of wallet unless you're running your own server. However, it is much better to use a SPV wallet than any online wallet.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: o.ogurlu on November 02, 2017, 02:29:19 PM
i want ask that when i making new wallet should i give true informations? and that people can use my informations???


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: OmegaStarScream on November 02, 2017, 03:08:36 PM
i want ask that when i making new wallet should i give true informations? and that people can use my informations???

A wallet shouldn't ask you for your real information. If you're using Coinbase or similar exchanges then providing real info is necessary (not recommended) If you don't want to run into issues later.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: CryptoEnthused on November 03, 2017, 10:47:36 PM
I created an Electrum wallet and have some question about it:
1)If my computer crashed, can I enter my wallet on any other device if I backed it up?
2)how to back it up? Is a seed phrase and password enough?
3)how can I see my private key, I can't find it anywhere?
One more question:
I created a standard wallet for now, but I'm also thinking about a multisig wallet. Is it worth to create it? Is it harder to use and how is it more secure than standard?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 03, 2017, 11:04:56 PM
1)If my computer crashed, can I enter my wallet on any other device if I backed it up?
Yes.

2)how to back it up? Is a seed phrase and password enough?
Yes.

3)how can I see my private key, I can't find it anywhere?
Read the documentation: http://docs.electrum.org/en/latest/faq.html.

I created a standard wallet for now, but I'm also thinking about a multisig wallet. Is it worth to create it? Is it harder to use and how is it more secure than standard?
Unless you need to secure a very large amount of money, I don't see why you would want to do that? Yes, multisignature wallets are inherently resistant in cases where one of your devices gets hacked.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: CryptoEnthused on November 03, 2017, 11:15:39 PM

Unless you need to secure a very large amount of money, I don't see why you would want to do that?
[/quote]

Nope, not gonna do that. In such case I better use hardwallet, I think.

Thanks for reply


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 04, 2017, 10:04:57 AM
Nope, not gonna do that. In such case I better use hardwallet, I think.
Yes. A hardware wallet is usually much safer than a Desktop one. I don't recommend that people to create unnecessarily complex setups unless they: a) Already have very decent knowledge in information security. b) Do not have a very high amount of money in Bitcoin that needs to be secured.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: nafarion on November 05, 2017, 02:36:16 PM
Hi, i downloaded armory. Generated adress and got on it BTC worth like 5$, now i found out that wallet is offline, so i can send those btc without installing chain.

1. Can i transport my wallet on any other platform (lite platform maybe)
2. How to download 150gb, my armory writes "preparing databases" and nothing else for a long time

p.s. have paper backup


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 06, 2017, 03:46:35 PM
Hi, i downloaded armory. Generated adress and got on it BTC worth like 5$, now i found out that wallet is offline, so i can send those btc without installing chain.
You can't use Armory without fully synchronizing AFAIK.

1. Can i transport my wallet on any other platform (lite platform maybe)
I don't think the Armory wallet is compatible with other clients. However, you can export the relevant private keys and import them elsewhere.

2. How to download 150gb, my armory writes "preparing databases" and nothing else for a long time
It should automatically sync if it is working properly. Make sure that you have enough storage space and that your hardware is working properly. If you experience issues, this is not the thread to post about them. Take a look at this section: https://bitcointalk.org/index.php?board=97.0.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: devis on November 09, 2017, 09:50:11 PM
Thank you so much for this useful information. I'm just getting involved in cryptocurrencies and I've been learning a lot about which types of wallets I should use. If I wanted to get a hard wallet which one would you recommend? My friends tell me to get a Trezor or a Ledger Nano. Any suggestions there?


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: Lauda on November 10, 2017, 05:38:51 AM
If I wanted to get a hard wallet which one would you recommend? My friends tell me to get a Trezor or a Ledger Nano. Any suggestions there?
Those two are the major ones that most people use. Objectively speaking, one isn't much better than the other. Therefore, it comes down to the preference. Maybe you will like the design of the Ledger more than that of the Trezor or vice versa.


Title: Re: [General] Bitcoin Wallets - Which, what, why?
Post by: erzascarlet_30 on November 20, 2017, 01:38:14 PM
For those who are new to bitcoin industry. Try coinbase to be your bitcoin wallet. I don't have any problems with that wallet. It can store your bitcoin, ethereum and also i think litecoin.  ;D
please do support the airdrops right now. :)