Best Wallet Features

[sheenshane]

1: What features you want to see in a wallet which is not in other ones

Does open source count as feature? I wouldn't call closed source wallet (trust wallet and exodus) a good wallet. Ability to have access to seed/private key and able to import it to another wallet is important for many users.

I tend to agree with this, the open-source wallets feature are the best wallet for me.

IMO, the best feature that wallet has that free to download is Electrum, it's a decentralized and fully open-source wallet. The most popular and wallet and it has a cool range of features, especially the adoption of Lightning Network the recently launched.

The most important is the encrypted private key, you should have full control to keep it safe. You have the ability to export your private key so that you can able to access your wallet on other Bitcoin clients.

Fort further information, look at this Electrum Key Features and the Electrum Lightning Network walkthrough feature.

[khaled0111]

Supporting coin control on mobile versions  
Most, if not all, wallets do not support the coin control feature in their mobile versions.
It's a must for those who value their privacy and don't want their addresses to be linked to each other. Also, it helps a lot in reducing transaction fee by manually selecting the most appropriate UTXOs to spend.

[pokeronlinestatus]

The most important thing when I chose a wallet to store my coins is that the wallet must give me access to my private keys because any coins where I don't have the key, I don't trust and consider the coins to be mine.

Coming to the interface part, all I need is easy navigation and the fonts can be stylish, etc I don't care as much but the layout must be easy to understand and navigate such that I should not feel like lost within the wallet. I like exodus for the same reason because it is so easy to navigate and since they have in-built exchange they are one class above others but it ain't open source.

[BTCappu]

I think it's safe to say that all wallets out there lack something.

For sure and actually I use blockchain.com as my hot wallet but although I like everything they do not have too many coins like at least have dominant coins added to the wallet.

Then you have Exodus which in my opinion has the best UI, but... in addition to not being open source, it doesn't have so many features.

I earlier used Exodus desktop client and it was quite good but I feel like blockchain.com wallet actually looks better but yeah there ain't desktop client for them as far as I know.

Also I would like if to know if there exists any wallet where we can send bitcoins with no fees maybe like a wallet like Paypal where actual transactions don't happen, like digitally money is transferred. So like a centralized wallet but that helps reduce transaction fees on same platform transactions.

[hosseinimr93]

Also I would like if to know if there exists any wallet where we can send bitcoins with no fees maybe like a wallet like Paypal where actual transactions don't happen, like digitally money is transferred. So like a centralized wallet but that helps reduce transaction fees on same platform transactions.

A wallet supporting internal off-chain transactions must be custodial. Such wallets hold your coins in their own wallet and display a fake number as your balance in your profile. They can freeze your coins for any reason, ask you to pass KYC at any time and even run away with your money.

If you are looking for a method which makes you pay lower fee for your transactions, it would be better to use lightning network instead of some custodial wallets.
For more information about Lightening network, you can read the following topic created by Rath_.

Basics of the Lightning Network.

[bob123]

Also I would like if to know if there exists any wallet where we can send bitcoins with no fees maybe like a wallet like Paypal where actual transactions don't happen, like digitally money is transferred. So like a centralized wallet but that helps reduce transaction fees on same platform transactions.

You mean.. a bitcoin wallet which literally is completely against everything bitcoin - and cryptocurrencies in general - stands for?

A wallet which is centralized and requires trust? Where there is one single point of failure? No.. fortunately there isn't such a "wallet".

If you are looking for a centralized currency with no transaction fees, check out ripple or stay with fiat. A few cents per transaction for a secure decentralized payment network is absolutely fine IMO.
And in the future, we'll have the lightning network where the fees will be even lower.

[Pmalek]

Also I would like if to know if there exists any wallet where we can send bitcoins with no fees maybe like a wallet like Paypal where actual transactions don't happen, like digitally money is transferred.

When you send Bitcoin, you are not paying fees to the creators of the software (for example Electrum). The network fees go to the miners to process your transaction. You can't move coins from point A to point B without paying those fees and having the transaction confirmed on the blockchain. This of course doesn't apply to exchanges or casinos, which can add whatever digits you have as your balance without moving any coins. The funds are located in their wallets and not yours.   

[bob123]

Also I would like if to know if there exists any wallet where we can send bitcoins with no fees maybe like a wallet like Paypal where actual transactions don't happen, like digitally money is transferred.

When you send Bitcoin, you are not paying fees to the creators of the software (for example Electrum). The network fees go to the miners to process your transaction. You can't move coins from point A to point B without paying those fees and having the transaction confirmed on the blockchain. This of course doesn't apply to exchanges or casinos, which can add whatever digits you have as your balance without moving any coins. The funds are located in their wallets and not yours.   

He was explicitly asking for a wallet which does not do on-chain transactions.
Basically, he is looking for a custodial wallet which does not do on-chain transactions between users using the same custodial wallet.

Fortunately, this doesn't exist yet. And if it does, it at least isn't being used a lot, which is a good thing.

[mocacinno]

--snip--

He was explicitly asking for a wallet which does not do on-chain transactions.
Basically, he is looking for a custodial wallet which does not do on-chain transactions between users using the same custodial wallet.

Fortunately, this doesn't exist yet. And if it does, it at least isn't being used a lot, which is a good thing.

Well... I'm NOT advocating the use of custodial wallets... I have no clue why people use them, but coinbase seems to "wave" the fee for transactions between 2 coinbase accounts (well, there is no fee to be payed, since moving funds between 2 coinbase accounts is just executing a couple of statements on their relational database), at least that's what their help says:

source: https://help.coinbase.com/en/coinbase/trading-and-funding/pricing-and-fees/what-are-miner-fees-and-does-coinbase-pay-them

--snip--
Coinbase does not charge network fees for cryptocurrency transfers from one Coinbase wallet to another.
--snip--

Once again: this is NOT an endorsement!!! For just a couple cents in fees, you're your own bank... Cheaping out on these couple of cents will result in coinbase actually controlling your funds: not your keys, not your funds!!!

[bob123]

For just a couple cents in fees, you're your own bank... Cheaping out on these couple of cents will result in coinbase actually controlling your funds: not your keys, not your funds!!!

You mean.. i can save money giving up security and decentralization?




No, honestly.. is a transfer between two "coinbase accounts" a transfer using the exchange or their (custodial) "wallet"?

[mocacinno]

--snip--
You mean.. i can save money giving up security and decentralization?

Exactly, save $10 a year by giving complete and utter controll to somebody you don't know.. Sound appealing doesn't it

--snip--
No, honestly.. is a transfer between two "coinbase accounts" a transfer using the exchange or their (custodial) "wallet"?

I'm not a coinbase user (supprise, supprise)... But the way their help was formulated, i think it's safe to assume it's about a transfer between two users of their custodial wallet.

Once again, and i can't stress this enough: using a custodial wallet, or a web wallet, or any wallet where you're not >99% sure you're the only one in posession of your private keys is a bad idear... They might tempt you with nice gimmicks, but that's all they are: gimmicks... (not talking to bob123 here, i'm pretty sure he already knows this , it's pointed towards newbies that might be searching for a wallet and stumble upon this thread)

[BlazingHashes]

- Support all erc-20 tokens and other ethereum token models, including erc-721, etc. And the wallet need to support a fast speed transaction.
- The transaction failed or is pending due to gas fees. We will adapt our metamask-like approach where you can speed up some pending transactions by increasing gas fees.
- Support for staking. Release a new feature to help users compare APY for all pools.

[libert19]

Most wallets allow you to make transaction/view seed after user knows the pin/password, imo it should be better than that. Wallets should implement system where if user wants to make trx/seed, they need to go through multiple authentications (like pin first, then fingerprint authentication (physical presence check) etc), it's less convenient but more secure.

[Pmalek]

Wallets should implement system where if user wants to make trx/seed, they need to go through multiple authentications (like pin first, then fingerprint authentication

Fingerprint authentication offers very little in terms of added security. If I have physical access to your hardware wallet, I most probably have multiple instances of your fingerprints. You leave your fingerprints on everything you touch.

These things have been proposed before. Even facial recognition. But these systems can also be fooled if someone has your picture.