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1122
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Other / Beginners & Help / Small tutorial about wallets for beginners
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on: January 26, 2018, 12:55:39 PM
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With the recent boom in crypto investors, a lot of newcomers have posted threads here with questions about the safest way to store their coins. This thread is going to contain information on the multitude of ways to store your bitcoins/altcoins in order to protect your investments. Probably the most important aspect of investing is making sure that your holdings are kept secure so I hope that this can help some people out. I will continuously add more information to the thread, for now I will just include a few of the main ones. Online WalletsSecurity: Low Accessibility: High First and foremost, online wallets are not the safest way to protect your coins, but they do provide easy accessibility so that is why I will include a few of them on here and the coins that they support. The thing about online wallets is that at any point, they could shut down or be hacked and your funds are gone forever. I always recommend keeping your coins on a cold storage. Blockchain ( https://blockchain.info/wallet/#/) - Coin(s) supported: Bitcoin, Ethereum
- Pros: Instant send/receive, lots of security features
- Cons: Slow/buggy when network is clogged
Coinbase ( https://coinbase.com/) - Coin(s) supported: Bitcoin, Ethereum, Litecoin, Bitcoin Cash
- Pros: Easily buy/sell coins from bank/card, USD wallet
- Cons: I'm gonna go ahead and throw this out there and say that I do not recommend using Coinbase as a wallet. Their service is great for buying/selling coins with fiat, but they are the PayPal of the crypto world. They have a bad reputation for locking up wallets, requesting information on where the funds are coming from, and requesting different forms of ID verification.
I'm not going to include any other online wallets as I just do not recommend using them in general so I feel that it isn't necessary. Desktop WalletsSecurity: Medium Accessibility: High First and foremost, online wallets are not the safest way to protect your coins, but they do provide easy accessibility so that is why I will include a few of them on here and the coins that they support. The thing about online wallets is that at any point, they could shut down or be hacked and your funds are gone forever. I always recommend keeping your coins on a cold storage. Jaxx ( https://jaxx.io/) - Coin(s) supported: Bitcoin, Ethereum, Litecoin, Dash, Zcash, Augur, Salt, Civic, Qtum, Blockchain Capital, Bancor, and dozens of other blockchain-based assets
- Pros: Lots of coins supported, mobile app, public source code, compatible with most platforms
- Cons: No 2FA
Exodus ( https://www.exodus.io/) - Coin(s) supported: Bitcoin, Ethereum, Litecoin, Dash, Augur, Golem, Decred, EOS, Aragon, Gnosis, OmiseGo, Basic Attention Token, Civic, SALT, Bitcoin Cash, Ethereum Classic, FunFair, District0x, Bancor, Bitcoin Gold, Edgeless, FirstBlood, Matchpool, Numeraire, iExec RLC, Status, WeTrust, Wings, 0x
- Pros: Lots of coins supported, built in Shapeshift, live portfolio charts, customizable themes
- Cons: No 2FA
Electrum ( https://electrum.org/) - Coin(s) supported: Bitcoin
- Pros: Very secure, insanely fast, cold storage feature, multisig
- Cons: No multi-coin support
Hardware WalletsSecurity: High Accessibility: Low Hardware wallets are best for people who want a very secure way to protect their investment long-term, or have zero self control and need a way to stop themselves from selling their holdings. Hardware wallets are by far the safest form of protecting your coins and I highly recommend using them if you plan on holding your coins for a while. Ledger Nano S ( https://www.ledgerwallet.com/) - Coin(s) supported: Bitcoin, Ethereum, Litecoin, Dash, Dogecoin, ZCash, Stratis, Ripple, Ark, Bitcoin Cash, Bitcoin Gold, Ethereum Classic, Expanse, Digibyte, Hcash, Komodo, Neo (available soon for the Ledger Blue), Pivx, PoSW, Qtum, Stealthcoin, Stellar (not available for Ledger Blue), Ubiq, Vertcoin,Viacoin, Most of the other Ethereum tokens (ERC20 tokens) can be managed using Ledger Nano S and Ledger Blue with MyEtherWallet only (it won't work with the Ledger Wallet application)
- Pros: Multiple coins supported, very secure, 2FA, fairly cheap
- Cons: Coins cannot be accessed quickly (not specifically this product, but all hardware wallets in general)
- Cost: €79
TREZOR ( https://trezor.io/) - Coin(s) supported: Bitcoin, Ethereum, Litecoin, Dash, ZCash, Bitcoin Cash, Bitcoin Gold, Ethereum Classic, Expanse, UBIQ, NEM, Namecoin, Dogecoin,
Bitcoin Testnet, ERC-20 Tokens - Pros: Multiple coins supported, very secure, 2FA, fairly cheap
- Cons: Coins cannot be accessed quickly (not specifically this product, but all hardware wallets in general)
- Cost: €89
Paper Wallet
- Coin(s) supported: Any
- Pros: Completely off the grid storage, free, any coin
- Cons: Coins cannot be accessed quickly (not specifically this product, but all hardware wallets in general)
- Cost: Free
Should you keep your coins on an exchange?Absolutely not. At any point, these sites could turn out to be a scam or get hacked and all of your money is gone. If you plan on holding your coins for a while, then deposit onto the exchange, purchase what you need, then withdraw immediately. How do I transfer my crypto to cash when I'm done? There are several ways you can do this. First, I would check LocalBitcoins and see if there are any offers that meet your needs. They have tons of exchangers on there and you will most likely be able to find your desired payment method. Secondly, you can use services like Coinbase or Cex to deposit your BTC directly to your bank this of course will require ID verification. |
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1124
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Other / Beginners & Help / Re: Wallets?
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on: January 26, 2018, 06:33:53 AM
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I don't think so you are going to buy a hardware wallet or willing to download desktop wallet. You need easy wallet I can suggest blockchain or coinbase they both has mobile apps as well.
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1128
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Alternate cryptocurrencies / Altcoin Discussion / Re: Need advice on a erc20 token code
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on: January 25, 2018, 09:40:34 AM
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What code? You are trying to find your ETH address? First thing is blockchain doesn't support ERC20 tokens. You have to make ERC20 supported wallet to get ERC20 tokens. Myetherwallet, MetaMask, ImToken are some ERC20 tokens supported wallets. If you want to convert some ERC20 tokens to fiat currency first you have to find that tokens on some exchanges. If that tokens in exchanges you can convert them to BTC or ETH. After that you can withdraw to your card or bank using cex.io, coinbase and many more trusted sites. If you have questions with it PM me I can help you.  |
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1129
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Other / Meta / Re: Rank system changed?
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on: January 25, 2018, 02:46:30 AM
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You don't need merits for be a Jr. Member. You need 10 merits for be a Member. I like this new rule.
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1136
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Other / Beginners & Help / Re: Where can I trade bitcoin?
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on: January 15, 2018, 12:42:41 PM
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You can trade bitcoin with altcoins. If you are a beginner I can suggest few good trading sites. Bittrex, Poloniex, Binance are good sites for beginners. I hope it helps.
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1140
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Other / Beginners & Help / Re: Cashing out crypto
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on: January 14, 2018, 04:54:26 AM
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You can use coinbase, cex or localbitcoins to cash out your bitcoins. Some countries not support for those sites. You can finds trusted bitcoin buyer from your place it also fastest method for you.
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