One thing with Crypto exchange sites is it's not the place to have your Bitcoin. It's not because of possible hacks ect. The reason is they are exchanges and should be used as it, nothing more. A hack could also happen with web wallets. You are giving your trust to someone (the website) Now how you trusy them.
You need to learn what are the different type of wallets, and if possible try them all, even if you are not planning to use them.
Cold and hot wallets, desktop and mobile wallets, web wallets, physical wallets, Bitcoin clients, hardware wallets... you have plenty of choices and the WWW is full of informations
Again, yes, there is a lot of choices for Bitcoin wallets. And anyone with Bitcoin should probably buy a Trezor or a Ledger. But I am not talking about Bitcoin. The problem is, where do you have your coins besides an exchange if there is no wallet for it? Like Monero for example. Where do you store that coin? Or that new ICO coin that wast just released that you think are the new big thing and you just bought a boatload of it. And why would I want to try all wallets? How is that going to help? Besides increasing the risk for stumbling over a scam wallet. All you have to do is check the developer threads at this forum for each coin you are interested in and the first page should list all wallet options. Most Monero holders use the new GUI Beta 2 wallet for desktop you can download at https://getmonero.org/downloads/ there is also going to be an Android MyMonero wallet app available soon. NEM may be added to Ledger Nano S https://www.reddit.com/r/ledgerwallet/comments/6efda1/updates_on_coins/ |
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As someone who is fairly new to cryptocurrency there is one thing that really frustrates and annoys me above everything else, and that I imagine is a big hurdle to cryptocurrency becoming really mainstream and that is the big confusion and vague nature around wallets and safe storage of coins.
One thing you always hear is that you should not store your coins on exchanges and that you risk losing them in a hack. And most people, even those who do not buy cryptocurrency know about the big hacks in the past and how people lost a lot of coins. Something that naturally scare away a lot of potential buyers.
Then there is us who want to buy some coins anyway, but is it so damn frustrating to know where to store the coins you actually buy. Is there not some big guide out there that is updated on a continual basis with the best and safest method to store different coins? That would be an invaluable source. A place you can go to look up the coin you just bought and look up the best way right now that is available to store that coin in regards to security and that you can trust is legit etc. If the coin has a dedicated wallet, if it supported by some hard wallet like Trezor or Ledger etc, if there is a trusted paper wallet generator and how to do it by step in step instructions etc.
Do anyone know of anything like this?
You can find out coins supported by Trezor here and by Ledger Nano S here. All it took me was a minute with Google to find that info. It never hurts to start out right by using a hardware wallet for coins you are interested in. You never have to worry about having your coins stolen by malware. Some coins like Monero do not have hardware wallet support yet. If you are going to store more than a few hundred dollars worth of bitcoin on a phone you might want to use Mycelium Android wallet with either a Trezor or Ledger Nano S hardware wallet managing the private keys. All it takes is an OTG cable and a newer Android phone. Safety is relative. If you have possession of your private keys on a desktop wallet that is always safer than an online wallet and probably most exchanges. However you do have to worry about malware stealing your bitcoin, even with a password protected wallet. That is why hardware wallets are so popular and Trezor and Ledger often sell out. |
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For right now I would pick BTC as it is more reliable. Long term? We will see
Even if after a several years. BTC is better in LTC. Someone just hype LTC. its good to still hold btc than ltc but if we want to invest our money in ltc then its good too like what traders that still holding ltc and they still have btc too. for long term, i think holding ltc is really good because now the price is increase and waiting for next high price soon. The charts say you will probably have to wait two years for litecoin price to pump again. On the other hand, bitcoin is in a no doubt bull market right now. Would you rather double your money by investing in bitcoin, or probably lose money by investing in litecoin? The smart money left litecoin at the pump last month and went into bitcoin. No trader I know has a long position in litecoin now, they have lost interest. |
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All you need to do is look at a BTC-E monthly LTC/BTC chart that goes back to 2012. Every two years litecoin has a pump and dump. Price is likely headed back to 0.005. Past history does not always predict future chart action but you have to give it weight when deciding where to park your money. If you missed this years pump 'n dump litecoin is probably not the best place to park your trading funds. Stick with bitcoin.  |
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Ethereum has a significant scaling problem, just as bad or worse than bitcoin. People are treating Ether as a store of value, something that it was not designed for. This is a good time to be leaving alts (except Monero) to get back on the bitcoin train. |
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I voted for Blockchain wallet. I use this wallet from the most beginning and I'm satisfied with it's work and fees. But I noticed that the last time it became slow and transaction is taking 2-4 days. Probably for my next signature campaign I will create the new one which will be leading on this thread.
No offense but blockchain.info wallet is crap. We get more complaints about this wallet than any other. It does a monumentally bad job of estimating miner fees. The wallet with the least complaints? Electrum. |
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You will have to install Electrum-LTC local wallet on your computer then sweep the private key(s) from your paper wallet into Electrum-LTC. Once you have the litecoin on an address in your litecoin local wallet you can then send to ShapeShift.
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If you look at Fibonacci extensions drawn from previous ATH to swing low the 2.618 extension predicted the current ATH within $40. Adding extensions from the current ATH to recent swing low gives a new set of extensions. Overlapping both shows a price target for the next impulse up of $4200 to $4400.  |
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Before the ATH is tested there is fair resistance at $2560 - $2600 to break through first. Once the ATH is taken out the Fibonacci extensions give some price targets:  If we add an earlier longer time frame chart of the Fibonacci extensions you can see how the 2.618 extension predicted the current ATH fairly accurately. Taking both charts into consideration it would seem that if the current ATH is taken out a reasonable price target is between $4200 and $4400. |
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Trezor 2 is not expected until the end of this year. I use both. I probably use Trezor more than Nano S because I can use it with one hand, while the Nano S takes two. Trezor has a one year warranty while Nano S is warrantied for two years. If you like to carry your hardware wallet with you to use with your phone the Nano S is smaller and tougher than Trezor: there is a video on YouTube of a guy running over his Nano S with his car and still works fine. I don't recommend you try running over a Trezor:) I would recommend you buy both and see which works best for you.
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Risk of delay and inconvenience, not of losing bitcoin. Your transaction is confirmed now. Remember to update your Electrum wallet to latest build! If you are concerned about any bitcoin still in the wallet, command the wallet to show your seed and write it down, always a good idea before updating.
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I expect a speculative bubble to $10K
Based on what? I would expect rather the reverse situation linked to fear and uncertainty of scaling solution. There will be major dump right before protocol changes will be introduced. Most people would opt to dump BTC in case something will go wrong with scaling upgrade. Previous price action and Fibonacci extensions. $5000 within 6 months; $10K in one year. The time frame is drawn out because of politics. |
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I hear the stampede coming in bitstamp. 4200BTC in sell orders one hour ago, 3600BTC right now.
Possible breakout at 2350$ support.
2350$ is past already. Yup, faster than expected lol. Just after that Bitstamp stopped loading well in my pc, so i suppose the fun started  Next resistance? $2412 then $2565 |
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Hello,
I have a transaction of around 4BTC pending for already over 24 hours. It is via Electrum wallet. I'm not very familiar with Bitcoins. Is there somebody who can help me and somehow prioritize my transaction so that it will get processed soon?
After this I will for sure switch to a different wallet because this is already the 2nd time this happened to me.
Would somebody be so kind to help me out this one more time?
And secondly, what wallets are recommended to use for the future?
Are you using the latest Electrum 2.8.2? I have a hard time believing properly set up Electrum would ever send a transaction with a 50 sat/byte fee. Make sure you are using latest Electrum. If not upgrade. Then under settings enable dynamic fees and replace by fee. When you send a transaction always move the fee slider to high and also check the box marked replaceable. Then if the transaction gets stuck you can click on it and bump the fee up. Don't try to do fees manually, just follow my instructions and you will be fine in the future. I pushed your txid and you should have a confirmation in a few hours. No need to change to a different wallet. Just learn how to use Electrum properly before you put four (!) bitcoin at risk again. |
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With the transaction backlog it is important to have a wallet with dynamic fee calculations, and ability to send a transaction replaceable (RBF) so if for some reason you have a stuck transaction you can bump up the fee. Electrum is available for both desktop and Android and meets those criteria. You can also use a hardware wallet with Electrum to manage your private keys (desktop only).
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0.62BTC
wow this has to be a record low for a sub #100 serial. if I didn't have so many I would be snapping this up With bitcoin price on the rise I think collectors are holding back to avoid overpaying; if you think bitcoin price will double in next 12 months would you rather own a collectible or just hold bitcoin? Good luck with the auction! |
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I expect a speculative bubble to $10K
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Trezor Hardware wallet is one of the best ( as for Ledger Nano s ) I personally use both, and i am super happy!
What is the reason for using both of them? Wouldn't you just tend to use the one that you like the most? Do you prefer the Trezor or the Ledger Nano S more after you both of them? For a while some altcoins were available on Nano S but not Trezor but both are pretty equal now. The Nano S is pretty bulletproof if you want to carry your hardware wallet with you to use with your phone. The Nano S also has a two year guarantee compared to one year for Trezor. I like and use both of them. |
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