Bitcoin Forum

Does anyone on here use? I think it’s great and a very simple user face. Please let me know if you are using this app. Perfect free app / place to store a small amount of funds. I always recommend for newbies. If a Mod can please move this to software wallets, I just realized I was in the wrong thread. Thanks!

I never even heard about this one called "hodl wallet" and Im sure many others haven't as well. But the name sounds very fishy to me.

Why would you recommend a not very well-known wallet to a newbie ? I just searched on google playstore, and the app haven't got any single written reviews. Why do you choose this app over others like bluewallet, mycelium ?

Since you are the OP, you can move your thread yourself as well by clicking on move topic option on the bottom right corner of the screen.

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P.S. Is the website I entered the correct one ?
https://i.imgur.com/tpPMZ0e.jpg

Yes, I used it on my old iPhone 8, and so far I don't have a problem using it.
And, what makes this wallet different from others is we can custom minimal fee be 1 sat, which I usually can do on PC,
the default address is native segwit (bc1), we change also address type to be legacy (1), I don't know why the developer don't including nested segwit also (3) as opsi.

Because the wallet use BIP39 seed, we can't recover wallet if use electrum seed.

It looks like they basically made a copy of Breadwallet's source code, made some changes to it roughly 3 years ago and made this wallet. Considering how inactive they have been, and how their repository is way behind the source they copied; I'd say it is more of a dead project.

As @Edwardard said, this is not a well-known wallet and you should neither use it nor recommend it to others. More so because the devs aren't active enough.

https://github.com/hodlwallet

What is so different about this ? I can set the same custom fee rate on my bluewallet as well (on android) as you can see below in the screenshot.
https://i.imgur.com/zE0z7up.jpg
And Im sure you can do the same on electrum (in a desktop). However it is not recommended to always set such low fees, since your transaction might take a very long time to get confirmed or even get dropped after weeks of waiting.

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You're correct. Upon searching (https://www.coinbeast.com/wallets/hodl-wallet), just found out that this wallet is just a fork (copy) of the brd wallet.

There are many wallets (even the non recommended close source wallets) that you can customize the fee, so I too wonder how setting fee to 1 sat/vbyte unique on a wallet that is not recommendable.

There are many times that 1 sat/vbyte is good because the mempool is not congested and the highest fee priority can be 1 sat/vbyte, higer fee rate at the time is not necessary. You can check the fee rate priority on the mempool on some websites, like:

https://mempool.space
https://jochen-hoenicke.de/queue/#BTC,24h,weight

I've read some comments here:
https://play.google.com/store/apps/details?id=co.hodlwallet&hl=en_IN&gl=US
Many complain about synchronization problems, it takes from half an hour to several days, I do not know which servers they use, but it seems to be a problem with that wallet, so when was the last time you used it?


They have some unsolved bug and app keep crashing with some options

You can customize your fees and pay 1 sat/vByte if you want, is that what you are saying? That's not unique in any way nowadays, and other wallets do that as well.

There are very few reasons to still use legacy addresses. If you are still using a service that only supports deposits and withdrawals to legacy addresses, you should abandon it for your own safety. I think atomic swaps is one use case that still requires legacy addresses. But if it's in connection with an exchange or a casino, they lag behind the trends.

According to mempool.space, transactions with fee rates below 1.08 sat/vbyte are currenty getting purged. So there is that. 

Your account was made in 2018 you should already know what wallets are safe or not if you feel that you are safe using that wallet then use it but recommending this unknown wallet so someone it's a big no for me.
If I recommend a wallet I always recommend a wallet which is already been tested by me and many people and it's alive since 2014 this is the year when I found those known wallets compared to HODL wallet that just recently heard from someone.

I checked their Github it seems there is no update anymore their last update is May 19, 2022 they are not active compared to Electrum.

I don't have a problem with it (1 sat), if I can set 0.1 sat, I will do that. Because so far I never exchange my BTC, I always sent to my cold wallet, so I don't have a problem with time, instead, the longer is better such as 10 or 20 years.

Also, I used a software wallet that has board (https://bitcointalk.org/index.php?board=37.0) here. If I used Besides that, apart from testing only find some bugs and weaknesses

Setting it to 0.1 sat/vB isnt possible imo with any wallet, right? Except maybe lightening network?

Unconfirmed btc transactions never get stuck for 20years. There is a limit period of 14days (according to bitcoin core), after that your unconfirmed tx will return back to the sender's wallet. You should atleast pay a fee above the purging transaction fee given in mempool.space, if you dont want to waste your own time. You will have to keep resending it every 14days.

Which software wallet?

Tip: unless you are capable of reading and compiling source code on your own, just stick to wallets that already have a good long-running reputation. Unless you know what you're doing, leave the trying and testing to the experts.

You might have a problem with nodes that'll dump it from their mempool if it passes the default 2 week interval. Out of pure curiosity, I broadcasted a transaction with 1 sat/vb nearly a week ago, and due to Ordinals it isn't confirmed yet.

Any good wallet, right, but very few nodes will propagate 0.1 sat/vb.

Maybe because the wallet is called HODL Wallet, and that gives some people the impression of some kind of security, considering the concept behind that abbreviation. Not so long ago, we discussed how important the name is when choosing a crypto wallet, so we mentioned the infamous Freewallet, which, despite being a proven scam, still attracts new users.

If someone chooses a crypto wallet only by name, I would conclude that he is a person who does not even know the basics and puts himself at great risk, and what is even worse, they can harm others with their advice.

bitcoin core is possible. Only if you run your own node and connect to the miner node.

it's just a parable.
I ever tried 1 sat when ATH (a lot of transactions), and it needs 1 week for confirmation.

Electrum

Its an open source wallet as far as I know, and also according to what I had discovered too they had a lot of issues
in which I think its not being resolved yet. Try to check the review of some users who tried it at their play store apps.

Though, I'm not using it and don't have to plan to try it, due to I am still much more confident and comfortable using
Electrum and Hardware wallet.

It's even possible to set the fee rate to zero. But the problem is that it's very very unlikely that such a transaction can be included in a block, unless you own a mining pool and you can include your own transaction.

It's not possible with any GUI wallet indeed, but you can send transactions with decimal fee rates and fee rates under 1sat/vB by using some wallets in command line/console mode. For example with Bitcoincore you can use sendtoaddress (https://bitcoincore.org/en/doc/24.0.0/rpc/wallet/sendtoaddress/) or settxfee (https://bitcoincore.org/en/doc/24.0.0/rpc/wallet/settxfee/) for that purpose. With Electrum you can use the payto function. But as it has been said your transactions are likely to be rejected by servers/nodes if the fee rate is too low.

I know the creator of the wallet personally. It is the new owner to Genesis Coins and founder of Bitstop. I simply recommend because it’s so simple and it’s an easy way to get a usable Segwit address very quickly.

I haven't ever used the wallet in question and I don't have any information about that. But getting a segwit address easily isn't really an advantage. There are many wallets that can generate segwit addresses easily.
Also, I don't understand what you mean by usable segwit address. Any valid bitcoin address is usable.

That's true. However, there is a but. You might be using a software that will rebroadcast your transaction over and over again. For example, every X days. If that is the case, and your transaction got rebroadcasted to the network, the nodes that already purged it from their memory pools will again receive fresh information about it. As a result, they add it to the mempool again. The counter (those 14 days you mentioned) starts all over again. Instead of 14 days, you now wait 28 days, etc. I think that no node on the network can have your unconfirmed transaction in its mempool for you to get the coins "back". If one has it, it's going to share the info with its peers and then those peers will share transaction data further, etc.