FOR NEWBIES, wallets to choose from and analysis by Veriphi

[Bitcoin_Arena]

Do you have any recommendations for where to get help with 3rd party wallet issues, such as when Bitcoinwallet.com holds your bitcoin hostage and refuses to approve the KYC (Know Your Customer) verification process after providing accurate information and high resolution images of ID? I would like to file a complaint if they do not approve me this fourth time. I am really starting to think they are just holding my bitcoin hostage because they know I am trying to transfer it out of their possession.

Custodial wallets like Bitcoinwallet.com that even ask for KYC from you are the worst type of wallets you can ever use. They will hold you money hostage and there's nothing you can do about it.
Look at the ugly reviews about them on Trustpilot. Not sure why you were still using the wallet among other much better wallets - https://www.trustpilot.com/review/bitcoinwallet.com

There is nowhere else you can file a complaint except your local authorities and that will also come at a cost if ti gets to involve lawyers

[happyfeeshie]

Thanks Arena, you basically confirmed what I suspected...

I am in the process of switching everything to a hardware wallet, so hopefully I can get it released...It has been so long, at the time they were recommended.

[bob123]

It has been so long, at the time they were recommended.

I doubt they were recommended at all.
I never heard of that "wallet". Where was it recommended?

I can't imagine anyone actually recommending it 

[malevolent]

Do you have any recommendations for where to get help with 3rd party wallet issues, such as when Bitcoinwallet.com holds your bitcoin hostage and refuses to approve the KYC (Know Your Customer) verification process after providing accurate information and high resolution images of ID? I would like to file a complaint if they do not approve me this fourth time. I am really starting to think they are just holding my bitcoin hostage because they know I am trying to transfer it out of their possession.

Post on reddit, twitter and related channels hoping they notice but it's the first time I'm hearing of this custodial wallet so it might be a scam.

[voron7477]

I can't understand one thing only. How could hardware wallets be compared to mobile ones?

[pooya87]

I can't understand one thing only. How could hardware wallets be compared to mobile ones?

We always consider certain characteristics for each wallet, being open source versus closed source, custodial or not, cold/semi cold/hot wallet,...
A hardware wallet could be considered a semi cold storage and most of their software is open source and the keys are both generated and kept in your device.
A mobile wallet depending on the software you are using can be anything so lets be specific and use Electrum. It is 100% open source, keys are both generated and kept locally but it is hot storage since a mobile device can not be cut off from the different types of networks ever. Also you always carry your phone around with you so you shouldn't store all your bitcoins in it ever.

Security-wise a hardware wallet can be safer than a mobile wallet.

[libert19]

Was hoping Coinomi in there.

Edit: stupid me, again

[bob123]

Was hoping Coinomi in there.

Coinomi is included, even tho it is spelled "CoiNomi".

Scroll to the right. It is included in the "Not recommended" section, which is correct.
I probably would have put it into the "Not at all recommended" category, but that's based on a personal aversion against incompetent developers claiming severe vulnerabilities in their application aren't severe at all.

[New_order]

How come hardware wallets like Trezor and Ledger are not recommended? they are making some desktop/mobile wallets look like a better option.

Also not sure what do they mean when they say that Trezor has bad privacy? as it's always possible to run Blockbook and connect the wallet to your own node.

Probably because not everyone can afford a hardware wallet? I can afford one myself but I'm not using laptop to connect the hardware wallet with to make some transactions or is there any hardware wallet that can make transactions without connecting to the internet? I don't think there is one right now.

[ranochigo]

I can afford one myself but I'm not using laptop to connect the hardware wallet with to make some transactions or is there any hardware wallet that can make transactions without connecting to the internet? I don't think there is one right now.

There isn't. It won't be the selling point of HW wallets either. They are supposed to be able to protect the private keys and the funds in the most demanding conditions (being infected with malware etc).

What you're looking for it probably an airgapped offline wallet. You can easily do it with Electrum[1] and you can set up a watchonly wallet on the online computer to gather the data needed.


[1] https://electrum.readthedocs.io/en/latest/coldstorage.html

[ololajulo]

How come hardware wallets like Trezor and Ledger are not recommended? they are making some desktop/mobile wallets look like a better option.

Also not sure what do they mean when they say that Trezor has bad privacy? as it's always possible to run Blockbook and connect the wallet to your own node.

Probably because not everyone can afford a hardware wallet? I can afford one myself but I'm not using laptop to connect the hardware wallet with to make some transactions or is there any hardware wallet that can make transactions without connecting to the internet? I don't think there is one right now.

He stated that the article is not about the hardwallet, just software but we see quite a few mentioned there. He mentioned the weakness with software wallet but not the hardwallet, we all know hardware wallet is not absolutely secure offline, can be destroyed with water, forces, fire etc nothing anonymity and sovereignty. Another difference between last year and now is the improved availability of hardware wallet and we also have cheaper brands.

[Wind_FURY]

For those people who can’t make their Trezor hardware wallet work with Electrum, there’s a downloadable desktop application for Trezor. This is especially for those users who don’t feel safe in using their web application, like me.

https://suite.trezor.io/