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Author Topic: [General] Bitcoin Wallets - Which, what, why?  (Read 60531 times)
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September 29, 2016, 07:53:17 PM
 #1

What is a General thread?
This is one of the first of (probably) many general threads that will be created in this subsection. A General thread will contain relevant information related to the question/subject of the title thus duplicate threads related to it are not allowed. Posts within a general thread will be harshly moderated and anything remotely useless will be removed. These threads are supposed to be informational, and reposting similar information multiple times is not allowed. You are free to discuss information that has been posted, but keep it short and civil (more than 5 replies is too much). Questions about information provided in this thread are not allowed either.

What are General threads for?
General threads are meant to be used as an overview of useful information and to prevent unnecessary duplicate threads within the section. After 10 pages this thread will be closed and a "[General] Bitcoin Wallets - Part n+1" will be created, which will contain an updated list of good information. This process will constantly be repeated. The reason that this approach was chosen is to prevent long threads in which people don't find what they are looking for and to provide the most up-to-date information.




Overview - Table of contents
Click the link to go to that part of the post

Types of Wallets
Universal Wallets
Desktop Wallets
Mobile Wallets for Android
Mobile Wallets for iOS
Online Wallets (Web Wallets)
Paper Wallets
Hardware Wallets
Best practice handling Bitcoins
How to Store Bitcoins

Types of Wallets
There are many different ways to use Bitcoin and so there are many different types of wallets:
  • Online bitcoin wallets. Wallets that can be accessed on the web from any internet connected device.
  • Software wallets. Wallet applications downloaded to your phone, computer or tablet.
  • Bitcoin hardware wallets. Physical devices designed to secure bitcoins.
  • Paper wallets. Bitcoin private keys printed from an offline computer.

Here are some factors to consider when choosing a wallet:
  • On the go? If you are making payments in person and not online then a mobile wallet like Copay (iOS & Android), breadwallet (iOS) or Mycelium (Android) is a must.
  • Frequency of payments: If you will need to make frequent payments then it will be best to keep your funds in wallet that is easy to use and accessible. Mobile wallets and desktop wallets are good options.
  • Amount: If you are dealing with large amounts of bitcoins you will need a secure wallet. Hardware wallets and secure offline wallets like Armory are good options.
  • Use combinations: Use a mobile wallet as your checking account, and a hardware or secure offline wallet as your savings account. Mix and match to find a combination that provides both security and accessibility.



Universal Wallets

Copay
Copay is a Bitcoin wallet by Bitpay and available on iOS, Android, Windows Phone, Linux, Max OS X, and Windows. Because Copay is available on multiple platforms, it’s easy to use the same wallet or accounts across multiple devices.
Copay’s simple, clean user interface makes it a good choice for new Bitcoin users. Copay is also a good option for businesses due to a shared account feature, which requires a certain number of users to sign each transaction. Two co-founders, for example, could create a 2 of 2 wallet where both will be required to sign each transaction.



Desktop Wallets
Desktop wallets are software wallets that are downloaded and installed on your computer. The desktop wallets below are available on Mac OS X, Windows, and Linux.

Bitcoin Core
Bitcoin Core is the “official” Bitcoin client and wallet, though isn’t used by many due to slow speeds and a lack of features. Bitcoin Core, however, is a full node, meaning it helps verify and transmit other Bitcoin transactions across the network and stores a copy of the entire blockchain. This offers better privacy since Core doesn’t have to rely on data from external servers or other peers on the network. Bitcoin Core routed through Tor is considered one of the best ways to use Bitcoin privately.

Armory
Armory is the most mature, secure and full featured Bitcoin wallet but it can be technologically intimidating for users. Whether you are an individual storing $1,000 or institution storing $1,000,000,000 this is the most secure option available. Users are in complete control all Bitcoin private keys and can setup a secure offline-signing process in Armory.

Electrum
Electrum may be the most popular desktop wallet, due to its speed and ease of use. Electrum can also be used as cold storage if you have an extra computer that can be used offline. Additonaly, Electrum offers other features like connecting through Tor, multisiganture wallets, integration with hardware wallets, and more.

MultiBit HD
Multibit HD is a fast and straightforward desktop wallet with support for hardware wallets TREZOR and KeepKey.



Mobile Wallets for Android

Mycelium (Android)
Mycelium is a favorite among experienced Bitcoin users. It’s an HD wallet with many advanced features, like support for hardware wallets TREZOR and Ledger, watch-only accounts, cold storage spending, and Tor.

Bitcoin Wallet
Bitcoin Wallet was the first Bitcoin wallet for Android. It’s simple, easy to backup, and connects directly to the Bitcoin network with SPV.

Airbitz
AirBitz is another Bitcoin wallet that’s great for everyday use. It’s integrated with Fold, meaning you can get 20% discounts at Starbucks from within the wallet.
Airbitz manages accounts with usernames and passwords, but doesn’t have access to your funds. This type of account creation is easier for less technical users who may have trouble backing up or understanding HD seeds.

GreenBits
GreenBits is the native version of GreenAddress. It’s fast, simple, and supports hardware wallets TREZOR and Ledger Nano/HW.1.

Electrum (Android)
Electrum is among the most popular wallets, due to its speed and ease of use. Electrum can also be used as cold storage if you have an extra computer that can be used offline. Additonaly, Electrum offers other features like connecting through Tor, multisiganture wallets, integration with hardware wallets, and more.



Mobile Wallets for iOS

Breadwallet
Breadwallet’s combination of simplicity and security has made it the most popular iOS wallet. iPhone users in search of their first Bitcoin wallet should findBreadwallet easy to understand.

Copay
Copay is available in the App Store. Click here for more details.

Airbitz
AirBitz is also available in the App Store.



Online Bitcoin Wallets
Online Bitcoin wallets, or web wallets, store your private keys online. Wallets can only be accessed with a user-set password.

GreenAddress
GreenAddress is a multisig web wallet, with apps available for Chrome, iOS, and Android.

BitGo
BitGo is a high-security multi-sig wallet, which protects your bitcoin from theft and loss. You maintain full custody; BitGo cannot spend or freeze funds. BitGo wallets are easy to use and offer advanced security features such as spending limits and multi-user access

Coin.Space
Coin.Space HD Wallet is a free online bitcoin wallet, which you can use to make worldwide payments for free. It makes paying with bitcoins easy and secure available anywhere on your phone or desktop.

Xapo
Xapo combines the convenience of an everyday Bitcoin wallet with the security of an insured deep cold storage vault. Xapo Debit Card links to your Xapo Wallet and allows you to spend bitcoins at millions of merchants all around the world.

Blockchain.info
Blockchain.info is a user-friendly cross-platform online wallet. It is one of the most widely used, wallets with 2FA today with over 10 Million unique wallets created. It is recommended that you always use the browser extension and email backups.



Paper Wallets
Paper wallets were the standard method of cold storage before hardware wallets were built. Paper wallets are private keys printed out on a piece of paper. If generated and printed with a secure, offline computer, paper wallets are secure cold storage.

The main problem with paper wallets is it can be inconvenient to create and print a new wallet each time you send funds to cold storage. However, it’s possible to bulk print paper wallets to save time and eliminate address reuse. Here's a cold storage guide which explains step-by-step how to create a secure paper wallet.



Hardware Wallets
Hardware wallets are small computers or smartcards built with the sole purpose of generating Bitcoin private keys offline. Hardware wallets securely sign transactions in the same offline environment.

Ledger Nano
The Ledger Nano is a smartcard based hardware wallet. Private keys are generated and signed offline in the smartcard’s secure environment. The Nano is setup using the Ledger Chrome Application. A random 24-word seed is generated upon setup and backed offline by writing it down on a piece of paper. In case of theft, damage or loss, the entire wallet can be recreated with the seed. A user selected PIN code is also assigned to the device to protect against physical theft or hacking.
The Ledger Nano may be used on any computer, or Android phones with Mycelium or GreenBits.

Trezor
The TREZOR differs from the Ledger Nano in that it’s a very tiny computer rather than a smartcard. Private keys are still generated offline.
TREZOR also generates a 24-word seed upon setup. The TREZOR has its own built in screen where the seed is displayed and copied down during backup. Since the TREZOR is an offline device it offers extra security since the seed isn’t displayed on an online computer.
An additional passphrase can be added to the 24-word seed. This provides extra protection, since anyone who finds someone else’s 24-word seed is free to access the funds. If the optional passphrase is added, an attacker still wouldn’t be able to access funds without both the seed AND the passphrase. If the passphrase is forgotten, it cannot be recovered.

OPENDIME
The first Bitcoin Bearer Bond or called a Bitcoin Stick. Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill. Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. Trust no one.
Acts like a read-only USB flash drive. Works with any computer, laptop, and phone. A QR Picture and Text file inside contain Bitcoin address and support. The private key is generated inside the device, and is never known to any human, not even you!
The Bitcoin world changes fast but Opendime is built on the fundamental Bitcoin features that have not changed in five years. Give an Opendime to anyone and they don't need to worry that you can take back the funds later.
You have got the private keys in the device. This is physical Bitcoin as it was meant to be to just hand it to someone and they have got it. Pass it on multiple times! Simple as a handshake. No miner fees, no confirmation delays.
Uses Bitcoin message signing, normal (non HD) bitcoin payment addresses and private keys in WIF format.

Ledger HW.1
The Ledger HW.1 is a more affordable version of the Ledger Nano.

Ledger Unplugged
The Ledger Unplugged is a credit card-size wireless hardware wallet. Private keys are generated offline. Transactions are signed on the device and sent to a mobile phone via NFC. The Ledger Unplugged is ideal for everyday use, since the device fits perfectly into wallets and no OTG cable is required.



Best Practices
Bitcoin lets you control your money, meaning you are responsible for both your money’s security and your financial privacy. Here are some steps you can take to ensure your privacy and security:

Control your private keys
Services like Coinbase and Circle offer “Bitcoin wallets”, but in reality control your private keys. It’s best to use a wallet where you control your private keys. This is the only way to have full control of your funds and not have to rely on third parties for security.

Protect your privacy
Each time you request blockchain data from a wallet, the server may be able to view your IP address and connect this to the address data requested. Each wallet handles data requests differently. If privacy is important to you, use a wallet that downloads the whole blockchain like Bitcoin Core or Armory. Tor can be used with other wallets to shield your IP address, but this doesn’t prevent a server from tying a group of addresses to one identity. For more information, check out the Open Bitcoin Privacy Project for wallet rankings based on privacy.

Don’t reuse addresses
Most Bitcoin wallets today automatically create a new address for each transaction. Since all Bitcoin transactions are public, address reuse makes it easy for others to group transactions and understand which payments are connected to one identity.

Use different wallets for different sums of money
Just like you don’t walk around with your savings account as cash, there are different Bitcoin wallets that should be used depending on how much money is being stored or transferred. Secure wallets like paper wallets or hardware wallets can be used as “savings” wallets, while mobile, web, and desktop wallets should be treated like your spending wallet.

Create multiple secure backups
Users should create multiple backups of their wallets. Backups should be kept in separate physical locations in the case of fire or water damage. Paper wallets can be laminated or written in metal for extra protection.



How to Store Bitcoins
Earlier it was mentioned that there are four types of Bitcoin wallets: online wallets, hardware wallets, software wallets, and paper wallets. These four categories can be broken down further into different kinds of storage and security:

Hot Wallets
Hot wallets refer to Bitcoin wallets used on internet connected devices like phones, computers, or tablets. Because hot wallets run on internet connected devices there is always a risk of theft. Think of hot wallets like your wallet today. You shouldn’t store any significant amount of bitcoins in a hot wallet, just as you would not walk around with your savings account as cash.
If only used with small amounts, hot wallets should be used for your everyday Bitcoin needs. One may, for example, want to keep $200 worth of bitcoins in a hot wallet for spending, with $10,000 locked away in cold storage.

Custodial Services
Although often called Bitcoin wallets, services like Coinbase and Circle aren’t true Bitcoin wallets. Customers private keys are held by these third party services, meaning users don’t really have control of their money. As Bitcoiners often say: “if you don’t control the keys, you don’t control the coins”. Mt. Gox is an extreme example, but one that illustrates the importance of holding private keys. Gox was the first and largest Bitcoin exchange up until 2013. Thousands of users stored more than 800,000 bitcoins in their Gox accounts.

At the time, one may have claimed to have 1,000 bitcoins in a Gox account. While true at the time, as soon as Mt. Gox claimed to have been victim of theft users with bitcoins in their accounts were left empty handed. Services like Coinbase and Circle may in fact use good security practices and there’s a chance your bitcoins are safe. But by storing bitcoins with a third party you are always taking on additional risk.

Cold Storage
Cold storage is achieved when Bitcoin private keys are created and stored offline. Private keys stored offline are more secure since there is no risk that a hacker or malware could steal your coins.
There are three ways to create cold storage: paper wallets, hardware wallets, and software wallets run on offline computers. Think of cold storage as your savings account. Use it to securely store bitcoins that you don’t plan to spend.

Multisignature Wallets
Multisignature wallets like Copay make it easier to share control of bitcoins between multiple parties. If created offline, multisig can also make cold storage more secure.

Multisignature wallets require multiple parties to sign transactions in order for funds to be spend. In a 2-2 wallet, for example, both parties must sign a transaction. In a 2-3 multisig wallet, two of the three co-signers must sign each transaction.

Armory Multisig
Armory offers a Lockbox feature that requires any amount of up to seven co-signers to approve shared transactions. A Lockbox is created by one party who adds additional public keys as co-signers. This solution provides a mix of flexibility and security for personal use or organizations.
Armory’s fragmented backups is another useful feature. Instead of requiring multiple signatures for each transaction, fragmented backups require multiple signatures only for backups. A fragmented backup splits up your Armory backup into multiple pieces, which decreases the risk of physical theft of your wallet. Without a fragmented backup, discovery of your backup would allow for immediate theft. With fragmented backup, multiple backup locations would need to be compromised in order to obtain the full backup.
Here's a look at some everyday use cases for multisig:

2-2 Wallet
Two business partners work together at a startup. They create a 2-2 multisig wallet so that no funds can be spent without the permission of both founders. If one tries to create a transaction, the other partner will be required to sign off on the transaction before money can be moved.

2-3 Wallet
A 2-3 multisig wallet could be used to create secure offline storage with paper wallets or hardware wallets. Users should already backup their offline Bitcoin holdings in multiple locations, and multisig helps add another level of security. A user, for example, may keep a backup of a paper wallet in three separate physical locations. If any single location is compromised the user’s funds can be stolen. Multisignature wallets improve upon this by requiring instead any two of the three backups to spend funds--in the case of a 2-3 multisig wallet. The same setup can be created with any number of signatures. A 5-9 wallet would require any five of the nine signatures in order to spend funds.




Credits: A huge shoutout to WeUseCoins for making an extremely detailed list which was used during the creation of this thread.

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October 18, 2016, 03:46:26 PM
 #2

Thanks for the interesting information and it nice to learn more about wallet and how they operate. However, I was once told that to get a paper wallet I must buy it but with the information provided at the OP nothing of such was mention. My question, is the paper waller for free and is it secure if I follow all the necessary procedure provided by the OP?
Thanks

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October 19, 2016, 05:39:32 PM
 #3

However, I was once told that to get a paper wallet I must buy it but with the information provided at the OP nothing of such was mention.
No, you don't have to buy anything besides paper obviously. A paper wallet is literally a wallet on a piece of paper (it could be any kind of paper, e.g. the one you use in your printer).

My question, is the paper waller for free and is it secure if I follow all the necessary procedure provided by the OP?
Thanks
While I personally can not guarantee safety, as the guide was not written by me, it does look good enough (especially for newbies). Just make sure that you don't generate online, and that the machine is fresh/clean.

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October 21, 2016, 09:39:40 PM
 #4

However, I was once told that to get a paper wallet I must buy it but with the information provided at the OP nothing of such was mention.
No, you don't have to buy anything besides paper obviously. A paper wallet is literally a wallet on a piece of paper (it could be any kind of paper, e.g. the one you use in your printer).

My question, is the paper waller for free and is it secure if I follow all the necessary procedure provided by the OP?
Thanks
While I personally can not guarantee safety, as the guide was not written by me, it does look good enough (especially for newbies). Just make sure that you don't generate online, and that the machine is fresh/clean.
If I understand you correctly. In other to get a safe wallet code I will have to generate the code using an offline computer? Meanwhile,you're lengend here and you should know which of this wallet is safe and secure.

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October 21, 2016, 09:43:06 PM
 #5

If I understand you correctly. In other to get a safe wallet code I will have to generate the code using an offline computer?
Correct. You should download the software and generate the keys on a offline machine.

Meanwhile,you're lengend here and you should know which of this wallet is safe and secure.
Firstly, the 'legendary' rank does not imply any kind of knowledge. Ranks are based on activity, ergo you will find plenty of Hero and Legendary members with limited or flawed knowledge.
Secondly, I'm fully aware of the security implications of the wallets. What I'm saying is that, I have not written this myself and can not guarantee anything (there are ways that you can fuck up).

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October 23, 2016, 08:46:28 AM
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Thank for info. It's really important to know for beginners like me.
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October 23, 2016, 01:03:29 PM
 #7

If I understand you correctly. In other to get a safe wallet code I will have to generate the code using an offline computer?
Correct. You should download the software and generate the keys on a offline machine.

Meanwhile,you're lengend here and you should know which of this wallet is safe and secure.
Firstly, the 'legendary' rank does not imply any kind of knowledge. Ranks are based on activity, ergo you will find plenty of Hero and Legendary members with limited or flawed knowledge.
Secondly, I'm fully aware of the security implications of the wallets. What I'm saying is that, I have not written this myself and can not guarantee anything (there are ways that you can fuck up).
Oh,I guess you're right. Likewise, in the real world age is not been mature. Nevertheless, there must be a wallet knew wholly it was so good.

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October 27, 2016, 08:36:02 PM
 #8

I'm in love with Xapo because of their debit card feature... It's just like PayPal with its debit card and insurance so I keep it as a payment processer.

In great detail the quality became essential for me to trust it directly, Xapo is my exclusive Bitcoin Wallet. Once multi-wallets become more mainstream I can adjust using that for alts such as DogeCoin / LiteCoin, etc.

I'm actually looking for a web wallet like Xapo that allows every single cryptocurrency alive that isn't an exchange.

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October 30, 2016, 02:26:21 AM
 #9

Hi!
I'm a beginner and have a question: if I have bitcoins in my desktop wallet and I'm needing format the hard disk from my computer, I'll lost the bitcoins after format the HD?
If yes is the answer, how no lose the bitcoins with formatting?
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October 30, 2016, 08:40:05 AM
 #10

if I have bitcoins in my desktop wallet and I'm needing format the hard disk from my computer, I'll lost the bitcoins after format the HD?
If you don't have a backup of your wallet, then you will most likely lose your coins.

If yes is the answer, how no lose the bitcoins with formatting?
This depends on the type of wallet that you're using. For Bitcoin Core, you need to find and backup your 'wallet.dat' file which is usually located in your datadir

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October 30, 2016, 09:17:24 AM
 #11

Quote
This depends on the type of wallet that you're using. For Bitcoin Core, you need to find and backup your 'wallet.dat' file which is usually located in your datadir

Thanks a lot!
Yes, my wallet is Bitcoin Core. I'll search about 'wallet.dat' and transferability to get more informations.
Thanks again.
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November 01, 2016, 11:28:04 PM
 #12

I find this thread informative.

The trade off for me, and I bet I am not alone, is privacy vs convenience.  Explaining; I am no newbie to this and I cloak my btc transactions via onion server use on the blockchain.  Electrum has been great at this.  Somewhat recently I have added Trezor to my Electrum/TOR mix.  I never reuse an address but I still realize that improper use of address groups can lead to some associations regardless.  Again, I do try to be careful.  I use several wallets as well.

Now regarding Privacy:  over time the entire blockchain is going to get huge, and in fact even now its larger than I care to deal with on an ongoing basis.  I have looked at and do understand some of the benefits of a software/client with the whole blockchain on it.  For me, the tradeoff always comes down to voting yes on the method I am now using.

BTC: 1PYSBbuKM3kW19xe9TXJQfq64rPhd8XorF
Staked and Verified: https://bitcointalk.org/index.php?topic=996318.msg17102755#msg17102755
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November 04, 2016, 01:17:42 PM
 #13

I prefer to use the online Blockchain Official Wallet, just cause its available universally and we don't have to wait out for the long time that Software Wallets take to Sync with the Bitcoin Blocks. I think the software stuff is too hectic. So, personally I use the online wallet with a very secure password and there is no question of getting hacked (some of you might say otherwise, but listen[read] my point...) as Blockchain sends an email to my account with some very accurate information about the computer and the browser which is trying to access my wallet and I have to approve each transaction manually which is OK for me.

However, if you are keeping huge number of bitcoins on you wallet (say, anywhere above 30 BTCs), then I think you are better off buying some good premium hardware wallet as those are the best options according to me to keep your dough safe Smiley
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November 04, 2016, 02:31:23 PM
 #14

I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. Smiley



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November 04, 2016, 02:34:39 PM
 #15

I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. Smiley
That's solely up to you. Usually people keep one address on their profile, and/or stake it somewhere on the forum for identification purposes. They do most/all signing with this address in cases when needed (e.g. account recovery after being locked out/hacked).

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November 07, 2016, 06:12:05 AM
 #16

I have a question. When verifying the address. When you use bitcoin core, you will be given a lot of addresses for receiving. What address should I use to sign? Or what should I use to receive payments then how to sign it. If you need to move this post, it's okay. Smiley
That's solely up to you. Usually people keep one address on their profile, and/or stake it somewhere on the forum for identification purposes. They do most/all signing with this address in cases when needed (e.g. account recovery after being locked out/hacked).

Okay then so i pick 1 then stake it here so at least they would know it's mine?

 Thanks for replying!



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November 07, 2016, 06:14:45 AM
 #17

Okay then so i pick 1 then stake it here so at least they would know it's mine?

 Thanks for replying!
Correct. This is the primary thread used for address staking at this time: https://bitcointalk.org/index.php?topic=996318.0

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November 07, 2016, 06:22:26 AM
 #18

Okay then so i pick 1 then stake it here so at least they would know it's mine?

 Thanks for replying!
Correct. This is the primary thread used for address staking at this time: https://bitcointalk.org/index.php?topic=996318.0

Thank you for that. Last question. If I have a software wallet in an offline computer or laptop, how will it be updated about the transactions? i'm sorry, I'm really new in bitcoin



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November 07, 2016, 06:25:26 AM
 #19

If I have a software wallet in an offline computer or laptop, how will it be updated about the transactions? i'm sorry, I'm really new in bitcoin
If you're talking about creating transactions: Your transaction will be broadcast as soon as you connect to the internet or you could let someone else broadcast it (e.g. use a service to do so).
If you're talking about receiving transactions: Depending on the wallet, it will synchronize as soon as you open the wallet with an active internet connection and any transactions should show. You can obviously receive payments even if your wallet is offline (easily verifiable via any blockchain explorer).

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November 07, 2016, 06:35:48 AM
 #20

If I have a software wallet in an offline computer or laptop, how will it be updated about the transactions? i'm sorry, I'm really new in bitcoin
If you're talking about creating transactions: Your transaction will be broadcast as soon as you connect to the internet or you could let someone else broadcast it (e.g. use a service to do so).
If you're talking about receiving transactions: Depending on the wallet, it will synchronize as soon as you open the wallet with an active internet connection and any transactions should show. You can obviously receive payments even if your wallet is offline (easily verifiable via any blockchain explorer).

So you would always connect it the internet IF ONLY you plan to spend it or resend some funds? (Cold storages)



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November 07, 2016, 06:38:00 AM
 #21

So you would always connect it the internet IF ONLY you plan to spend it or resend some funds? (Cold storages)
Correct. You don't need to connect to receive (even though your offline wallet wouldn't show that you've received anything). Experienced users can also mitigate connecting to the internet for sending by creating transactions on offline machines and pushing them via online ones (although I don't recommend attempting this considering your current knowledge). Hopefully this answers your questions. You can PM me directly if you have more questions.

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November 12, 2016, 03:26:57 AM
 #22

Oh it's ok.
I'm a newbie and didn't know all
of this wallet before. Roll Eyes
But I found out a wallet called
"Coinbase"
I'm kinda nervous
why coinbase isn't recommend in
this post?
Is coinbase is good or bad?  Huh
I'm using it..  Smiley
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November 12, 2016, 03:34:21 AM
 #23

Oh it's ok.
I'm a newbie and didn't know all
of this wallet before. Roll Eyes
But I found out a wallet called
"Coinbase"
I'm kinda nervous
why coinbase isn't recommend in
this post?
Is coinbase is good or bad?  Huh
I'm using it..  Smiley
Coinbase is a web wallet. Web wallets are discouraged as you the user are not in control of your Bitcoin, the wallet service is. If the service shuts down or they lock you out of your account, you cannot access your Bitcoin. If the service decides to scam and steals all of the Bitcoin entrusted to them, you have lost your Bitcoin. In general, web wallets, including Coinbase, are not considered good wallets.

Also, Coinbase is known to have shut down accounts that they suspect are being used for gambling. Your money is at their mercy.

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November 20, 2016, 07:02:04 AM
 #24

Greetings,

I am new in bitcoin business, and all that I know, I've learned from various sites, and YT. I am a beginner, and learning step by step. From YT i found out the way that how to open an wallet, and personal accout, and basicly how the all stuff works. Luckely I have stumbled on this forum yesterday, and signed in, and registered in a second. I read some topics of the forum, and only from that I now understand 3%, and realise that I knew 0,01%.

I have opened an account on Blockchain. Is that a good and secure thing to do, and can i use Tor to trade with BC on the youknowwhich web?

Second, I earned some amount of satoshi, that I have on my account, should I consider downloading an hard drive software to keep my earnings offline, because if I understand that is one of the most secure ways to store and keep my BC?

Third, yesterday I found out that there is an equipmet to buy, that earn, and keep in storage your BC, only by connecting them on an WiFi Router, and if it is not a problem, a short info abot that?

And fourth, the las, if it's not a problem, I've heard of an USB drive that is doing something (in its name has somthing 650 or 635?!), and I can't remeber what is it doing or how, but I watched it on YT, and it was connected with Annonymus, of which I am a Fan and supporter, because I believe that the informations and knowlage should bee free, and that could bring only good especially to the Third World countries, in which I'm living in too! A.C.A.B. and New World Order FY! Free Society!  Angry

For a first post there is a lot of questions, but I'm very interested in this, and BC too, because if I understand this currency is not connected with Large Corporation Banks, which are ripping us off, especially here, in the Third World, were we are all under loans with enormus fees, and they are legaly with Gouvernments help ripping us off, legal recetearing (i don't know is this word wrote how it should be written)  Angry

I have some Personal beliefs of all this, that I wrote, I hope You understan, who I am, and in what I believe. Becaouse of that I need help, becausen I'm really interested in all of that I've mentioned, and if You can help me to understand and learn, I promise that I will be a good student    Cheesy

Best Regards to You all!   Smiley

Greetings to the World from Serbia!!! Bre!
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November 20, 2016, 07:18:21 AM
 #25

I have opened an account on Blockchain. Is that a good and secure thing to do, and can i use Tor to trade with BC on the youknowwhich web?
While I disagree with the usage of web wallet (e.g. blockchain.info), you should be able to use ToR to access it.

Second, I earned some amount of satoshi, that I have on my account, should I consider downloading an hard drive software to keep my earnings offline, because if I understand that is one of the most secure ways to store and keep my BC?
Yes. Offline storage is most likely the safest way of keeping your coin. Make sure to encrypt the wallet first though.

Third, yesterday I found out that there is an equipmet to buy, that earn, and keep in storage your BC, only by connecting them on an WiFi Router, and if it is not a problem, a short info abot that?
Not sure what you're talking about, maybe Bitcoin miners? There are profitability calculators online which can help you determine whether or not buying a specific miner is a good call or not.

And fourth, the las, if it's not a problem, I've heard of an USB drive that is doing something (in its name has somthing 650 or 635?!), and I can't remeber what is it doing or how, but I watched it on YT, and it was connected with Annonymus, of which I am a Fan and supporter, because I believe that the informations and knowlage should bee free, and that could bring only good especially to the Third World countries, in which I'm living in too! A.C.A.B. and New World Order FY! Free Society!  Angry
Never heard of it before.

I have some Personal beliefs of all this, that I wrote, I hope You understan, who I am, and in what I believe. Becaouse of that I need help, becausen I'm really interested in all of that I've mentioned, and if You can help me to understand and learn, I promise that I will be a good student    Cheesy
Seeing that you are allegedly from Serbia or know Serbian, I advise you to join the IRC channel #bitcoin-hr and we will help you there faster.

~Lauda

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November 21, 2016, 11:47:54 PM
 #26

Does there really need to be this much analysis tho? I feel you can just choose the mos tpopular one and you'll be fine

I'm a beginner though too :/
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November 22, 2016, 08:18:39 AM
 #27

Does there really need to be this much analysis tho? I feel you can just choose the mos tpopular one and you'll be fine

I'm a beginner though too :/
There are many options and wallet types to choose from depending on your needs. That's why we tried to cover as much as possible. It comes down to security and privacy. If you go with e.g. Electrum, you should be fine.

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November 28, 2016, 04:42:00 PM
 #28

Hi. I would just like to know if you have heard of cases where people's money have been stolen from their wallet. If so how can you avoid this?
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November 28, 2016, 04:50:20 PM
 #29

Hi. I would just like to know if you have heard of cases where people's money have been stolen from their wallet. If so how can you avoid this?
The only way to steal money is if they compromise the target machine/network. To avoid this you need to look into general security advice for computers and network. Read this thread: Beware of Malware: Think Before Acting!. What you could do is:
1) Keep the majority of your coins on an offline machine and only boot it when you need to use them.
2) Split the coins across several different devices (e.g. desktop wallet, mobile wallets) and make sure to use 2FA and encryption where available.

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November 29, 2016, 01:04:57 AM
 #30

Hi. I would just like to know if you have heard of cases where people's money have been stolen from their wallet. If so how can you avoid this?
The only way to steal money is if they compromise the target machine/network. To avoid this you need to look into general security advice for computers and network. Read this thread: Beware of Malware: Think Before Acting!. What you could do is:
1) Keep the majority of your coins on an offline machine and only boot it when you need to use them.
2) Split the coins across several different devices (e.g. desktop wallet, mobile wallets) and make sure to use 2FA and encryption where available.

Another way to keep your coins from being stolen is to use a cold storage wallet.  While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe.  With the cold storage keys being generated offline, there is no way for a hacker to get said keys.  But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.

If you want to save coins for the long term, a cold storage wallet is definitely the solution to go with.

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November 29, 2016, 07:17:09 AM
 #31

Another way to keep your coins from being stolen is to use a cold storage wallet.  While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe.  With the cold storage keys being generated offline, there is no way for a hacker to get said keys.  But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.
While that is most likely going to be the case with the average user, it does not necessarily have to be the case. Depending on the user expertise, it is possibly to create the transaction(s) offline and broadcast them to the network from an online machine. One could say that this is almost a *fool proof* way of using them. Someone could attempt to write a guide for this, however I'd advise that average users do not use it depending on how TXs are crafted.

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December 02, 2016, 11:57:13 AM
 #32

Another way to keep your coins from being stolen is to use a cold storage wallet.  While they are not a convenient solution for spending bitcoins, they are a great way to keep your coins safe.  With the cold storage keys being generated offline, there is no way for a hacker to get said keys.  But when you want to spend the coins on the cold wallet, you have to upload all the coins in the address as the private key is now possibly compromised.
While that is most likely going to be the case with the average user, it does not necessarily have to be the case. Depending on the user expertise, it is possibly to create the transaction(s) offline and broadcast them to the network from an online machine. One could say that this is almost a *fool proof* way of using them. Someone could attempt to write a guide for this, however I'd advise that average users do not use it depending on how TXs are crafted.

I would like to learn about these offline transactions. Is there a link to a thread here that explains it?

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December 02, 2016, 02:45:20 PM
 #33

Good initiative!

Bitcoin Core
.. Bitcoin Core routed through Tor is considered one of the best ways to use Bitcoin privately.
I suggest adding a link to https://www.torproject.org/ to the word "Tor".

Bitcoin.org: Choose your wallet has a good overview too. It does not mention blockchain.info though. You (Lauda) also don't mention it, while it is (one of) the most used wallet(s), so I think it should be in the list, including it's drawbacks or even reasons why not to use it.

I think it would be good to add a section on brain wallets, and the importance of good passwords. Bitaddress.org for instance offers Brain Wallets. It has a warning to use a strong password, but I don't think enough people know that passwords like {1summer2leo3phoebe are not strong enough (source) and can be hacked brute force.

It's the first time I read about OPENDIME. I like the idea, but:
-it costs $12.50 (plus shipping) per piece.
-if this would be used by many people, someone could make fake hardware that verifies okay, making it no better than an expensive paper wallet (I've seen many fake Chinese USB-sticks in the past).
-you don't know if the manufacturer knows the private key. The FAQ explains that OPENDIME can't know the key, but a fake manufacturer could make a compromised fake device.
-if it breaks, you lose your money. I've had normal USB-sticks that stopped working after a few years.
With this in mind, I think OPENDIME is more of a gimmick than a serious wallet, which doesn't fit this list.

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December 02, 2016, 04:31:39 PM
 #34

I would like to learn about these offline transactions. Is there a link to a thread here that explains it?
You have to do your own research for that (not completely relevant to this thread). Here are two links to get you started: Link 1, Link 2.

I suggest adding a link to https://www.torproject.org/ to the word "Tor".
Done, thanks.

Bitcoin.org: Choose your wallet has a good overview too. It does not mention blockchain.info though. You (Lauda) also don't mention it, while it is (one of) the most used wallet(s), so I think it should be in the list, including it's drawbacks or even reasons why not to use it.
I'll think about it.

-if this would be used by many people, someone could make fake hardware that verifies okay, making it no better than an expensive paper wallet (I've seen many fake Chinese USB-sticks in the past).
If your desktop is compromised: Every wallet is not a serious wallet, but a gimmick. If your download is not verified, then your wallet is also a gimmick and so on. This reasoning is inadequate. Buy from the original manufacturer and you're good to go.

-if it breaks, you lose your money. I've had normal USB-sticks that stopped working after a few years.
Same goes for all other hardware wallets. Should I delist all of them? There's no way to determine the average lifespan of an Opendime just yet, unless they ran tests of their own.

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December 02, 2016, 04:38:52 PM
 #35

Buy from the original manufacturer and you're good to go.
As buyer, I'm good to go indeed, but the receiving party could be several hands down from the buyer.

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Same goes for all other hardware wallets. Should I delist all of them?
Those hardware wallets provide a phrase to restore them, so a defect doesn't mean you lose your money.

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December 06, 2016, 05:57:29 AM
 #36

Hi guys!
I'm a newbie also and have a question regarding wallets suitable for my phone,i am a windows phone user and right now i am using copay as my wallet for daily transactions,i want to buy bitcoin and store it for future use,what else can i have in my phone to store my bitcoin in a more secure wallet?
Thank's!
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December 06, 2016, 08:24:30 AM
 #37

Hi guys!
I'm a newbie also and have a question regarding wallets suitable for my phone,i am a windows phone user and right now i am using copay as my wallet for daily transactions,i want to buy bitcoin and store it for future use,what else can i have in my phone to store my bitcoin in a more secure wallet?
Thank's!

IMHO, dont use a phone for long term storage. They are lost and stolen too easily. If you dont have a desktop/laptop, use a paperwallet.

Edit: typos.

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December 07, 2016, 10:38:53 AM
 #38

im newbie too and my wallet "blockchain" how about this one... blockchain.info, its safe?

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December 08, 2016, 10:18:17 AM
 #39

im newbie too and my wallet "blockchain" how about this one... blockchain.info, its safe?
Blockchain is my first wallet that I created,when joined in this forum I read about wallets and realized that there are more secure than blockchain.
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December 13, 2016, 01:36:41 AM
 #40

Custodial Services
Although often called Bitcoin wallets, services like Coinbase and Circle aren’t true Bitcoin wallets. Customers private keys are held by these third party services, meaning users don’t really have control of their money. As Bitcoiners often say: “if you don’t control the keys, you don’t control the coins”. Mt. Gox is an extreme example, but one that illustrates the importance of holding private keys. Gox was the first and largest Bitcoin exchange up until 2013. Thousands of users stored more than 800,000 bitcoins in their Gox accounts.
By default, I think Bitcoin users should strive to be able to be in a situation in which they control their private keys, however many people do not have the expertise to control their bitcoin themselves, as this is something very different then taking care of a yahoo or a gmail account, 2FA will function very differently then what users are used to, storing private keys (including via backups) is a very different process then storing your tax records, and your private keys will probably be the first (and sometimes only) think that some maleware will look for/go after.

In light of the above, I think it is a good idea for many new users to "start out" using services like coinbase (who BTW do not want users to use their service as a wallet) while they can start to understand how Bitcoin works, and the advantages of using Bitcoin, while having more "normal" risks of having their money stolen/lost -- for example if a new device accesses a user's coinbase account, a email link from the same browser session will need to be clicked on in order to authorize that device, and money might get stolen due to theft from coinbase, similarly to how money might get stolen due to paypal going insolvent.

Quote
Armory is the most mature, secure and full featured Bitcoin wallet but it can be technologically intimidating for users. Whether you are an individual storing $1,000 or institution storing $1,000,000,000 this is the most secure option available. Users are in complete control all Bitcoin private keys and can setup a secure offline-signing process in Armory.
I also do not like your use of the word "most" because this word is very subjective. It is also true that Armory is actually catered for "enterprise" type users, and not users who keep "$1,000" of bitcoin in their wallet.
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December 14, 2016, 05:11:31 AM
 #41

Thank you for sharing those Information. I didn't know there are a lot of different kinds wallets existing for cryptocurrencies. In the Philippines we find it convinient to use coins.ph wallet with transaction to other wallets with no fees but not all though, like if you're going to cash it out here in the philippines you have to use gcash and it applies 2℅ as the transaction fee which is not cool if you're witdhrawing large amounts.
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December 14, 2016, 04:27:37 PM
 #42

I think new users should be encouraged to start off right away with a hardware wallet. A Ledger Nano S costs $65, anyone can afford that and will be the best insurance against theft you ever spent. Bitcoin malware is becoming more prevalent and will only increase as bitcoin price goes up. I once had a trojan get through my security and steal bitcoin from a passphrase protected Bitcoin QT wallet. After that I switched to hardware wallets only.

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December 17, 2016, 04:39:44 AM
 #43

I think new users should be encouraged to start off right away with a hardware wallet. A Ledger Nano S costs $65, anyone can afford that and will be the best insurance against theft you ever spent. Bitcoin malware is becoming more prevalent and will only increase as bitcoin price goes up. I once had a trojan get through my security and steal bitcoin from a passphrase protected Bitcoin QT wallet. After that I switched to hardware wallets only.
Hi, and thanks in advance for any help anyone can provide.
I'm an veteran in the MIS/IT world, but a noob to Bitcoin & mining.
Just put my foot in the water this passed Tuesday when my Antminer R4 arrived.
Had it up and mining in kano.is pool in fairly short order.
Setup a wallet (Electrum) and have two Bitcoin reward payments hanging out there in limbo on kano.is pool.

Block           Address                                        Status   BTC   
443778   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00372422   
443699   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00370034   

I start up the Electrum software wallet.
Go to the "Receive' Tab & the above address matches my 'Receiving address' however I still have a ZERO BTC balance in my wallet.
These two payments are my first ever BTC payments, and I'm not sure what step I must be missing to claim these two payments.
Thanks again,
(BTC Noob)

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December 17, 2016, 04:53:39 AM
 #44

Hi, and thanks in advance for any help anyone can provide.
I'm an veteran in the MIS/IT world, but a noob to Bitcoin & mining.
Just put my foot in the water this passed Tuesday when my Antminer R4 arrived.
Had it up and mining in kano.is pool in fairly short order.
Setup a wallet (Electrum) and have two Bitcoin reward payments hanging out there in limbo on kano.is pool.

Block           Address                                        Status   BTC   
443778   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00372422   
443699   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00370034   

I start up the Electrum software wallet.
Go to the "Receive' Tab & the above address matches my 'Receiving address' however I still have a ZERO BTC balance in my wallet.
These two payments are my first ever BTC payments, and I'm not sure what step I must be missing to claim these two payments.
Thanks again,
(BTC Noob)
You have not been paid yet, there are no transactions to your address. If you think you should have been paid, you should contact Kano.

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December 17, 2016, 04:59:17 AM
 #45

Hi, and thanks in advance for any help anyone can provide.
I'm an veteran in the MIS/IT world, but a noob to Bitcoin & mining.
Just put my foot in the water this passed Tuesday when my Antminer R4 arrived.
Had it up and mining in kano.is pool in fairly short order.
Setup a wallet (Electrum) and have two Bitcoin reward payments hanging out there in limbo on kano.is pool.

Block           Address                                        Status   BTC   
443778   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00372422   
443699   12XpTncqFZfxbxuK9DW12xeuVbjx4VD94b       0.00370034   

I start up the Electrum software wallet.
Go to the "Receive' Tab & the above address matches my 'Receiving address' however I still have a ZERO BTC balance in my wallet.
These two payments are my first ever BTC payments, and I'm not sure what step I must be missing to claim these two payments.
Thanks again,
(BTC Noob)
You have not been paid yet, there are no transactions to your address. If you think you should have been paid, you should contact Kano.
Thanks for the reply.
So, if the above two transactions are showing up when I log into Kano.is pool website and go to the 'Payments' screen, does it take some time b4 these two payments get processed or something? If so, any idea how long it takes to process payments?

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December 17, 2016, 05:05:26 AM
 #46

Thanks for the reply.
So, if the above two transactions are showing up when I log into Kano.is pool website and go to the 'Payments' screen, does it take some time b4 these two payments get processed or something? If so, any idea how long it takes to process payments?
That is all up to the pool operator to make payments. Once the transaction is created and broadcast, it will show up in most block explorers (sites like https://blockchain.info/, https://blockr.io/, https://www.blocktrail.com/). You can look up the transaction by the transaction id or look up all transactions related to your address. The transaction will appear as unconfirmed until it is included in a block where it then becomes confirmed. Once the transaction is confirmed, you can safely spend the Bitcoin.

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December 17, 2016, 05:34:57 AM
 #47

Thanks for the reply.
So, if the above two transactions are showing up when I log into Kano.is pool website and go to the 'Payments' screen, does it take some time b4 these two payments get processed or something? If so, any idea how long it takes to process payments?
That is all up to the pool operator to make payments. Once the transaction is created and broadcast, it will show up in most block explorers (sites like https://blockchain.info/, https://blockr.io/, https://www.blocktrail.com/). You can look up the transaction by the transaction id or look up all transactions related to your address. The transaction will appear as unconfirmed until it is included in a block where it then becomes confirmed. Once the transaction is confirmed, you can safely spend the Bitcoin.
A fellow kano pool miner was nice enough to explain the payout schematic to me.
Turns out, I just need to be a little more patient. Here is what the deal is...

Under the column "status" for those two blocks they are showing +13 and +92 confirms.
A newly created block does not get paid to the pool until it has 101 confirms.
When that happens kano then puts the transactions to us miners into the pools work for the next block we find.
So a payment for a block does not happen until it gets 101 confirms and then when we find the next block.

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January 07, 2017, 12:07:35 PM
 #48

Couple questions maybe I find answers here
Annual income every month is 0.7-1 BTC, I'm using Coinbase and Xapo as my main wallets, sometimes local wallet provided by emoney.ge where I can sell my BTC to GEL and cashout. In this case everything is fine and I feel secured.
I was wondering what is the best way of storing big amounts of BTC ? I understand that in this case hardware wallet may be the best solution, or maybe I'm wrong ?
And if I'm not what is the right way to maintain a hardware wallet ? I mean hardware side, where you need backups RAIDs and etc. Is there any ultimate guide or something ?
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January 07, 2017, 02:08:38 PM
 #49

Couple questions maybe I find answers here
Annual income every month is 0.7-1 BTC, I'm using Coinbase and Xapo as my main wallets, sometimes local wallet provided by emoney.ge where I can sell my BTC to GEL and cashout. In this case everything is fine and I feel secured.
I was wondering what is the best way of storing big amounts of BTC ? I understand that in this case hardware wallet may be the best solution, or maybe I'm wrong ?

Significant amounts[1] should not be kept with online wallets. Hardware wallets[2] are specific devices designed to hold your private keys, like e.g. a trezor[3] or keepkey[4]. Other options would be to use general hardware (like an old laptop) with a software wallet, but to keep it offline at all time (after setup). The idea is to keep private keys on systems that can not be attacked from the internet or only with significantly advanced malware that is most likely not used for attacks on wallets (think stuxnet[5]).

And if I'm not what is the right way to maintain a hardware wallet ? I mean hardware side, where you need backups RAIDs and etc. Is there any ultimate guide or something ?

Most hardware wallets use a HD[6] scheme which means you have to do a single backup upon setup and thats it. Keep in mind that this backup must be kept secure as well.

[1] how much that exactly is depends on your personal circumstances.
[2] https://en.bitcoin.it/wiki/Hardware_wallet
[3] https://bitcointrezor.com/
[4] https://www.keepkey.com/
[5] https://en.wikipedia.org/wiki/Stuxnet
[6] https://en.bitcoin.it/wiki/Deterministic_wallet

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January 10, 2017, 09:33:57 AM
 #50

Very interesting thread. I've been using Bitcoins more often lately to conduct transactions and as somewhat of a newbie, I wasn't sure which was best. At first I tried Bitcoin Core but it was very slow and that made it unappealing for me. Then I went to Circle, which ended, and now I am at Coinbase. After doing some reading in this thread, I decided to migrate away from Coinbase and I'm looking at some hardware wallets to store the majority of my bitcoins. I think I am leaning toward the KeepKey right now, but they have seemingly went out of stock on Amazon. Do you think it's worth the wait or should I just get the Trezor instead?
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January 21, 2017, 01:39:26 PM
 #51

Very interesting thread. I've been using Bitcoins more often lately to conduct transactions and as somewhat of a newbie, I wasn't sure which was best. At first I tried Bitcoin Core but it was very slow and that made it unappealing for me. Then I went to Circle, which ended, and now I am at Coinbase. After doing some reading in this thread, I decided to migrate away from Coinbase and I'm looking at some hardware wallets to store the majority of my bitcoins. I think I am leaning toward the KeepKey right now, but they have seemingly went out of stock on Amazon. Do you think it's worth the wait or should I just get the Trezor instead?

Circle and Coinbase are definitely two services that everyone should avoid as they don't give you control over your private keys. If they don't have stock on Amazon , try to use order from their official website[1]. If I had to choose a hardware wallet personally , I'd go with Ledger Nano S[2] without thinking twice and It can also manage multiple coins. I made a thread about hardware wallets[3] , I suggest checking it out as It could help you choose.

[1] https://www.keepkey.com/
[2] https://www.ledgerwallet.com/products/12-ledger-nano-s
[3] https://bitcointalk.org/index.php?topic=1710607.0;topicseen

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January 27, 2017, 12:54:01 AM
 #52

Hello everybody .

Do you recommend Electrum wallet for beginners and what are advantages and disadvantages of Electrum ?

Best regards.

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January 27, 2017, 11:41:27 PM
 #53

I read everything and I'm quite confused.. I'm a newbie and I'm looking for a wallet to start, I see that blockchain.info is quite good but it has fees to pay for each btc transfer. I would like to use an online wallet with possibly no fees. Being a newbie I'll move just a few mBTC at once (either some dollars or some cent) and use that for sport gambling or something like that, which wallet is the best for this purpose? Thanks
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January 28, 2017, 04:54:05 AM
 #54

Do you recommend Electrum wallet for beginners and what are advantages and disadvantages of Electrum ?

even as a beginner you need to know a certain things such as how to secure your wallet, how certain things work such as fee,...

but yes i recommend Electrum for a beginner.

advantage of Electrum is that it is a SPV wallet which means you don't have to download much data from internet (~30 MB) and syncing is easy and fast.

but it is a SPV wallet and has SPV disadvantages, such as not having the privacy of a full node (need to download 100+ GB and sync takes a long time) and also trusting a server to tell you about transaction status (not that this is happening but) the server can tell you a transaction is confirmed while it is not and risk double spend.

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January 28, 2017, 11:26:24 AM
 #55

I read everything and I'm quite confused.. I'm a newbie and I'm looking for a wallet to start, I see that blockchain.info is quite good but it has fees to pay for each btc transfer.
No. Blockchain.info is not a good wallet. The use of web wallets is not recommended.

I would like to use an online wallet with possibly no fees.
There is no such thing. Bitcoin transactions require fees to proceed. Whilst you can send a TX without a fee or with a very low fee, it is highly likely that it will never confirm. Therefore, it makes no sense to even attempt that.

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January 28, 2017, 12:32:05 PM
 #56

I read everything and I'm quite confused.. I'm a newbie and I'm looking for a wallet to start, I see that blockchain.info is quite good but it has fees to pay for each btc transfer.
No. Blockchain.info is not a good wallet. The use of web wallets is not recommended.

I would like to use an online wallet with possibly no fees.
There is no such thing. Bitcoin transactions require fees to proceed. Whilst you can send a TX without a fee or with a very low fee, it is highly likely that it will never confirm. Therefore, it makes no sense to even attempt that.

why is blockchain.info not good??
their website is nice and they seem friendly.

Tongue

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January 28, 2017, 12:48:28 PM
 #57

why is blockchain.info not good??
their website is nice and they seem friendly.
I think their wallet is the most used wallet around. But their site is often down, they seem to be trigger happy on IP bans, even I got one at some point (luckily it expired after a day), and I've read many people having problems with them.
I've used it for a while, but didn't like the new wallet update they pushed. It got slower and lost basic functionality.

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January 28, 2017, 02:17:12 PM
 #58

why is blockchain.info not good??
their website is nice and they seem friendly.
I think their wallet is the most used wallet around. But their site is often down, they seem to be trigger happy on IP bans, even I got one at some point (luckily it expired after a day), and I've read many people having problems with them.
I've used it for a while, but didn't like the new wallet update they pushed. It got slower and lost basic functionality.

So do they take your bitcoins??
why would they ban someone? seems not good.
what is good wallet??
what about paper wallet??

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January 28, 2017, 04:20:58 PM
 #59

No. Blockchain.info is not a good wallet. The use of web wallets is not recommended.
As a noob, I'm pushed to think that an online wallet is more safe than one installed in your pc, since your pc could get viruses in various way while an online wallet MUST grant you that your money are safe, it's their work. Probably I'm thinking like real moneys and banks: it's better to give your money to the bank instead of keeping them under the mattress since a burglar could break into your home and steal them. Why it is not the same with btc?

Then, is it sufficient a commercial antivirus as Kaspersky to protect my btc? What if I need to format my pc?
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January 28, 2017, 04:48:42 PM
 #60

As a noob, I'm pushed to think that an online wallet is more safe than one installed in your pc, since your pc could get viruses in various way while an online wallet MUST grant you that your money are safe, it's their work. Probably I'm thinking like real moneys and banks: it's better to give your money to the bank instead of keeping them under the mattress since a burglar could break into your home and steal them. Why it is not the same with btc?
Wrong. A web wallet is not a bank. There is no gurantee that you will be compensated in the case that it gets hacked. AFAIK the biggest web wallet hack that has occurred was the one with Inputs.io.

Read: https://www.wired.com/2013/11/inputs/

Then, is it sufficient a commercial antivirus as Kaspersky to protect my btc? What if I need to format my pc?
Nothing can make your system 100% fool proof. Using Windows is a risk on its own. You should frequently backup your wallet to an external device.

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January 28, 2017, 07:17:04 PM
 #61

Nothing can make your system 100% fool proof. Using Windows is a risk on its own. You should frequently backup your wallet to an external device.

Really thanks, so the best for beginners is Electrum? Could be a good idea storing it on a virtual machine? Maybe using Linux and using this VM only for that purpose.
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January 28, 2017, 07:19:10 PM
 #62

Really thanks, so the best for beginners is Electrum?
If you don't want to download the whole blockchain, i.e. use a fully verifying wallet, then yes.

Could be a good idea storing it on a virtual machine? Maybe using Linux and using this VM only for that purpose.
Yes, but I don't see the point of doing this. If your host machine is compromised, your virtual machine will also be compromised.

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January 29, 2017, 09:57:07 AM
 #63

Thanks to the OP for posting this. I'm thinking of switching from Bitcoin Core to Electrum. I just have one question: what happens if the Electrum service disappears? Will it still be possible to recover the coins with the private key?


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January 29, 2017, 10:11:48 AM
 #64

what happens if the Electrum service disappears? Will it still be possible to recover the coins with the private key?
Yes.
You can test this: turn off your internet, and click Wallet > Private keys > Export.

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February 04, 2017, 12:24:33 PM
 #65

Two questions please

1. Can a hardware wallet accept except of bitcoin altcoins as well,
So that in a single wallet to have multiple accounts of different coins, Monero, zcash, Bitcoin and more

2. If you have created an account in an online wallet can this account be used from another wallet, a hardware wallet for example? And visa versa.
Or you have to have multiple wallet accounts and transfer your funds from one to another?

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February 04, 2017, 12:57:00 PM
 #66

1. Can a hardware wallet accept except of bitcoin altcoins as well,
So that in a single wallet to have multiple accounts of different coins, Monero, zcash, Bitcoin and more
Not unless the wallet explicitly says that they offer an altcoin wallet as well.

2. If you have created an account in an online wallet can this account be used from another wallet, a hardware wallet for example? And visa versa.
Or you have to have multiple wallet accounts and transfer your funds from one to another?
Depends on the used service. If they allow you to import/export private keys, then you can do that (e.g. from online to desktop). This is not common though.

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February 04, 2017, 02:37:35 PM
 #67

I'm unsure where I may post this question since I'm new. But, my question is about Electrum BTC Wallet, to ask how may I use sweep to get BTC that were stolen? If this is possible with sweep, than why hasn't the wallet creator able to optimized this to be used as a safe-guard from scamming / steeling others BTC? I'm not a programmer, so I'm unable to understand how it does it.

 
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February 04, 2017, 02:39:11 PM
 #68

But, my question is about Electrum BTC Wallet, to ask how may I use sweep to get BTC that were stolen? If this is possible with sweep, than why hasn't the wallet creator able to optimized this to be used as a safe-guard from scamming / steeling others BTC? I'm not a programmer, so I'm unable to understand how it does it.
You can't get back Bitcoin that was stolen and is already confirmed by using a wallet. It looks like you don't understand how Bitcoin works at all. Unless you are trying to ask something else, in which case I did not understand the question.

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February 04, 2017, 04:32:44 PM
 #69

1. Can a hardware wallet accept except of bitcoin altcoins as well,
So that in a single wallet to have multiple accounts of different coins, Monero, zcash, Bitcoin and more
Not unless the wallet explicitly says that they offer an altcoin wallet as well.

2. If you have created an account in an online wallet can this account be used from another wallet, a hardware wallet for example? And visa versa.
Or you have to have multiple wallet accounts and transfer your funds from one to another?
Depends on the used service. If they allow you to import/export private keys, then you can do that (e.g. from online to desktop). This is not common though.

Thank you Lauda
About the multiple wallets...
Since the day u got started with Bitcoin have u had the same wallet?
In my case, I have a bread wallet which has some mBTC but I would like to change it. In the new wallet will I use my first private key or create a new one from scratch?Will the mBTC be transferred?

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February 06, 2017, 06:08:45 AM
 #70

Is it possible to change private keys regularly? Because as far as I understand private keys work similar to password of an email box.

I installed armor wallet but it didn't work as it needs bitcoin core. If I knew I didn't install armor.
Then I installed Electrum. It created 12 words, 1 password and private keys of 10-15 addresses.
Is it possible to change those 12 words, 1 password and private keys regularly?
If yes, changing those 3 types of password-like things will be enough to keep Electrum wallet secure.

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February 06, 2017, 09:00:23 AM
 #71

In my case, I have a bread wallet which has some mBTC but I would like to change it. In the new wallet will I use my first private key or create a new one from scratch?Will the mBTC be transferred?
Just create a new wallet and transfer the Bitcoins by yourself: make a payment of your entire balance to an address from your new wallet.

Then I installed Electrum. It created 12 words, 1 password and private keys of 10-15 addresses.
Is it possible to change those 12 words, 1 password and private keys regularly?
The only way to "change" those 12 words, is by creating a new wallet. It is possible, but - as long as you keep the 12 words secure - not needed.
Every time you use a new address to receive Bitcoins, your wallet uses a new private key. So there too: nothing to do.
You can change the password.

Quote
If yes, changing those 3 types of password-like things will be enough to keep Electrum wallet secure.
It's still a hot wallet, meaning it's used on a computer connected to the internet. If your computer is not secure, your wallet isn't secure either.

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February 07, 2017, 03:50:39 PM
 #72

In my case, I have a bread wallet which has some mBTC but I would like to change it. In the new wallet will I use my first private key or create a new one from scratch?Will the mBTC be transferred?
Just create a new wallet and transfer the Bitcoins by yourself: make a payment of your entire balance to an address from your new wallet.
 

minus fees...

And your suggestion for the wallet?
I don't mind of downloading the whole blockchain in exchange to use a fully verifying wallet

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February 15, 2017, 10:38:51 PM
 #73

Hi everyone,

Bitcoin newb here. I'm waiting for my funds to arrive to purchase my first btc's but have some questions related to hardware wallets. I've purchased a Nano S and understand that it only holds my private key. A few questions:

1. While using a HW wallet, is there any difference from using the provided software, ie. Ledger's Bitcoin Wallet, vs Greenaddress or Copay?
2. Do account details (balance, transactions, etc) follow the HW wallet? Ie. If I log in with a HW wallet into ledger's bitcoin wallet, greenaddress or copay, will I see the same thing? Or are transactions/balances, specific to the software used? Or are the various softwares like a window all looking into my same HW wallet?

Thank you for the your replies.
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February 18, 2017, 02:30:42 AM
 #74

Hi,
after around a year using bitcoin I still haven't figured out this wallet question.
From what I understood,
-keeping your funds on exchanges is a big no no.
-keeping your funds on any online device is never 100% safe.
-keeping your funds on cold storage is the only 100% safe way...

My problem is I understand cold storage like a paper wallet is not convenient if you move funds in and and out often.
So I think the only way to keep your funds 100% safe and accessible is a hardware wallet.

Is this correct or is there a 100% safe way to keep funds on a hot wallet? if yes which one?
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February 18, 2017, 02:55:29 AM
 #75

just found one that uses tor network.

love to use it for anonymity it proves for my sends and receives to stay private.

just the way using the blockchain should be. Wink
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February 25, 2017, 06:22:43 PM
 #76

I'm new to bitcoin and wallets and have a few following questions especially on hardware wallets:


I like to know if Hardware Wallets like Trezor, Ledger etc. gets outdated due to no further firmware updates or the Manufacturer releases a newer model then what happens?

If the hardware wallet becomes faulty not working then what the buyer should do? Is there warranties on these hardware wallets and if so how does the buyer return them if they live in another country?

If the hardware wallet becomes damaged by fire or water then where is the best place to store a recovery seed online to recover? I understand the best way to restore a recovery seed is tattooing it on the body but the pain involved in that.

I understand that writing the seed on a piece of paper but it can be lost or destroyed by fire etc.

I  understand that the user can memorise the seed in the brain but can forget it.

I also understand that the user can store a seed on a offline cold storage hardware device like a usb stick or a old spare phone but what if they go through the problems mentioned above?

So is there any online service provider that is truly hack-proof and trusted that a user can store a recovery seed because this method is the most convenient way as nowadays we do everything online now. Or is there another clever way not mentioned here to store a recovery seed?

Lastly which Hardware wallet is the best overall not in the most expensive? Or can I get any USB stick and convert it into a hardware wallet?

Thanks,
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February 26, 2017, 11:56:00 AM
 #77

Hi guys,
I  am new to this forum, thanks for this information,  it was super useful.  I recently discovered the blockchain wallet and already made a transaction with it, but I had to wait a lot.  Do you have the same problem?
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February 27, 2017, 07:09:54 PM
 #78

Thanks for sharing! Good to know.We will respect you rules as newbie!

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February 27, 2017, 07:32:48 PM
 #79

How about the coins.ph which is number 1 common btc wallet in the Philippines, are you familiar with that? Is that safe?
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March 01, 2017, 03:36:24 AM
 #80

As a beginner, I have so much questions running on my mind. Thanks to this post. It adds up to my idea about bitcoin.
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March 02, 2017, 03:25:16 PM
 #81

Other online wallet is HolyTransaction, its free and let you have diferent currencies (BTC, LTC, Dash, Ethereum ...) on the same account.

 

BUY / SELL bitcoins  --->  https://bit2me.com/?r=ryOV8xZNb
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March 07, 2017, 12:31:38 AM
 #82

Other online wallet is HolyTransaction, its free and let you have diferent currencies (BTC, LTC, Dash, Ethereum ...) on the same account.

 
Oh really? Cause I heard acouple of days back that the holytransaction was use in Japan later Europe or is it international now?

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March 07, 2017, 06:53:53 AM
 #83

If you are ever planning on updating this list, I suggest adding btc.com for iOS, Android & web as well. As for desktop wallets then there is this new wallet called Exodus.io, I made a thread about them, feel free to link it on your post so If people have any questions, they could ask there : https://bitcointalk.org/index.php?topic=1766679.0;topicseen

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March 12, 2017, 03:58:23 PM
 #84

Can anyone please give me some advise for printing physical bitcoins from wallet? thanks
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March 20, 2017, 02:16:59 PM
 #85

thanks for sharing. Some of these wallets have been used. Local wallet occupies too much memory, synchronization is also very difficult. Or light wallet better, easy to use.

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March 20, 2017, 03:18:28 PM
 #86

Can anyone please give me some advise for printing physical bitcoins from wallet? thanks

If by that you mean "paper wallets" then simply take whatever wallet you are using right now and export the private keys, put them in a MS word file and print it with the address and QR associated with it.

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March 20, 2017, 03:56:02 PM
 #87

Have been using two downloadable wallets for a while and can not say my experience has been anything less than great using them! Smiley
Exodus which is not just for bitcoin but for about 4 other support for alt coins. Which include the biggest ones: dash and ethereum.
The other one is Electrum. The option to enable dynamic fees or modifiable fees to each send is a god sent! Coming from using blockchain's wallet from the very start of my bitcoin adventure. Grin
I have been using this one for a while and I like the customizable interface and they just released an update for it to make it more stable then it always was while I have been using it.
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April 07, 2017, 03:06:01 PM
 #88

Thanks for the very good list. Started with bitcoins and got an account on coinbase, thought this was a good choise until I read the thread here.
Will switch to copay since I also love the open source culture.

Greetings Bettina
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April 07, 2017, 06:43:13 PM
 #89

I'm just getting started with Bitcoin, and so I have a question.

Would you say that Bitcoin Core works fine for a first wallet? I like it because of the security (that it's software installed on my computer, and that the password is not held by a third party). But, I wonder because I hear reports that it is slow or unreliable at times. This guide reaffirms that.

Should I look into another wallet such as Armory?
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April 07, 2017, 08:11:07 PM
 #90

Would you say that Bitcoin Core works fine for a first wallet? I like it because of the security (that it's software installed on my computer, and that the password is not held by a third party). But, I wonder because I hear reports that it is slow or unreliable at times. This guide reaffirms that.
It is neither slow nor unreliable. Bitcoin Core requires you to download and validate the whole blockchain (~120 GB at the time of writing). The initial block download takes a long of time, especially if you have mediocre hardware. However, once you have syncronized it, you could use it as your daily wallet without problems assuming you open it once every or every second day (so it synchronizes the new parts of the chain).

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April 16, 2017, 01:28:42 PM
 #91

With mobile wallets, are they backed up online?
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April 16, 2017, 05:52:21 PM
 #92

With mobile wallets, are they backed up online?

I will be speaking about Mycelium when I say It's not the case but there is some centralization as they are the one controlling the full nodes the wallet is connected to, they don't take data like your private keys etc.. but your addresses should be known for them. I believe that people use it because It has more features and nice GUI otherwise you can check GreenBits or breadwallet.

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April 16, 2017, 08:22:20 PM
 #93

With mobile wallets, are they backed up online?
I've used two: Mycelium and Bitcoin Wallet. Both don't keep online backups. I wouldn't recommend using a wallet that keeps backups online anyway.
Mycelium asks you to write down random words for its seed. Bitcoin Wallet lets you create a backup, which you can for instance email to yourself.
For both wallets, or even in general, I can recommend to test the backup system at least once. Take an old smartphone, install the same wallet on it, and restore your backup. If it checks out, you should end up with two wallets that are exactly the same.

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April 24, 2017, 01:28:44 PM
 #94

I'm personally a huge fan of Blockchain.info. I've been using it for a few years now and never had any problems. It's very easy to use and real newbie friendly.

I like online wallets because I can easily access my wallet from any computer and quickly move funds around. That being send, I don't have a ton of bitcoins. If I had a lot I would potentially think about installing a local wallet and creating cold storage.
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Richmondberk is great way and opportunity to earn.


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April 28, 2017, 10:48:28 AM
 #95

I am begginner and i need this type of info.  And thanks u so much for providing this type od info.

richmond is the best...
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May 01, 2017, 08:16:33 AM
 #96

Hi, thanks for the info.
I'm new here so this might be a stupid question but, I've personally been using Coinomi on my Android as a mobile wallet.
Would you say this one is ok, or is it better to stick with what's been written up in the OP?
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May 01, 2017, 09:21:42 AM
 #97

Hi, thanks for the info.
I'm new here so this might be a stupid question but, I've personally been using Coinomi on my Android as a mobile wallet.
Would you say this one is ok, or is it better to stick with what's been written up in the OP?

Coinomi wasn't listed because It's new compared to the others and less known. I however see no reason on why you shouldn't use it as from the look of it, Its open source, you control your private keys, easy to recover using BIP44 passphrase. So Its really up to you.

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May 01, 2017, 10:32:29 AM
 #98



Coinomi wasn't listed because It's new compared to the others and less known. I however see no reason on why you shouldn't use it as from the look of it, Its open source, you control your private keys, easy to recover using BIP44 passphrase. So Its really up to you.

Ah great! Thanks!
Yeah, I saw the OP was somewhat old, but I hadn't seen Coinomi mentioned in here, so I thought I'd just ask.  Smiley
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May 01, 2017, 10:38:49 AM
 #99

Block chain.
The most secure btc wallet every.
Smooth functions,easy ui.

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May 01, 2017, 10:49:12 AM
 #100

Hi, thanks for the info.
I'm new here so this might be a stupid question but, I've personally been using Coinomi on my Android as a mobile wallet.
Would you say this one is ok, or is it better to stick with what's been written up in the OP?

Coinomi wasn't listed because It's new compared to the others and less known. I however see no reason on why you shouldn't use it as from the look of it, Its open source, you control your private keys, easy to recover using BIP44 passphrase. So Its really up to you.
https://bitcoin.org/en/choose-your-wallet gives a possible reason:
Quote
This wallet relies on a centralized service by default. This means a third party must be trusted to not hide or simulate payments.
I'm not sure how serious this concern is though.

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May 01, 2017, 01:08:13 PM
 #101

I'm not sure how serious this concern is though.

I believe Its not anything serious as this is the case for several wallets including Mycelium where the wallet connect specifically to the nodes made by the developers of the wallet. If its like Electrum, then the details that they could obtain shouldn't be anything more then addresses and the wallets associated with them.

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May 04, 2017, 02:50:55 AM
 #102

I am new to bitcoin, how can I back-up xapo wallet app? Or is it automatically connected onlinem

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May 06, 2017, 12:54:04 AM
 #103

Very informative. Thanks for taking the time in posting this.
I went with BTC.com's android wallet

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May 06, 2017, 06:17:17 AM
 #104

Very informative. Thanks for taking the time in posting this.
I went with BTC.com's android wallet

Its currently buggy you will either won't be able to send the funds after typing the PIN (even If its correct, It will say otherwise) or you will have a loading screen all the time. I reported the issue in their thread and they say It should be fixed in the next updates, so may want to wait.

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May 06, 2017, 03:28:19 PM
 #105

Hi guys, I'd like to a have a clarification about Electrum: what do I exactly need to restore a wallet, besides the seed? Because some people say I only need the seed, other people say also a backup and the private key...  Huh

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May 06, 2017, 05:20:12 PM
 #106

Hi guys, I'd like to a have a clarification about Electrum: what do I exactly need to restore a wallet, besides the seed? Because some people say I only need the seed, other people say also a backup and the private key...  Huh

A lot of options could work:

1. The seed: the whole wallet will get regenerated from the 12 words seed including your addresses, private keys associated to them etc.
2. The wallet file (.dat) + password: You simply place it on the AppData and Electrum should read it, you will need to know the password though and keep the file with you all the time.
3. The private keys: You will have to export the private keys in plain text and keep them safely or print them.

I recommend the first method (seed). Taking a wallet .dat file with you the whole time could get it compromised or the USB where the file is stored could get corrupt, not to mention that someone could get his hands on them and try brute force the wallet. The private keys method is also not recommended, In bitcoin, Its suggested to use a new receiving address each time you receive funds, If you follow that, It will leave you with multiple private keys and that's a little bit chaotic. So go for the seed!

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May 06, 2017, 05:25:08 PM
 #107

3. The private keys: You will have to export the private keys in plain text and keep them safely or print them.
Thanks a lot for the answer Omega! Now I have another question for each point  Grin

1) I chose the 2FA installation option, if I try to restore the wallet on a different computer besides the seed is it gonna ask me also for the 2FA the first time or not?

2) Wallet file (.dat) + password, is it basically like a copy-paste of the whole wallet? Where is this file located on a Mac?

3) I don't get one thing, what's exactly the private keys and where are they?

Thanks again!

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May 06, 2017, 06:34:15 PM
 #108

Thanks a lot for the answer Omega! Now I have another question for each point  Grin

1) I chose the 2FA installation option, if I try to restore the wallet on a different computer besides the seed is it gonna ask me also for the 2FA the first time or not?

2) Wallet file (.dat) + password, is it basically like a copy-paste of the whole wallet? Where is this file located on a Mac?

3) I don't get one thing, what's exactly the private keys and where are they?

Thanks again!

1. The wallet will keep asking you for the 2FA unless you restore it using the seed IIRC.
2. http://docs.electrum.org/en/latest/faq.html#where-is-my-wallet-file-located (Paths for Windows, Linux & Mac)
3. The private keys are clearly "private". Its what allows you to spend the funds from an address, each address is related to a private key. You should never give your private keys to anyone, private keys start with (5, L or K). Its somehow useless to take private key backup If your address is multi-signature (address start with 3 instead of 1) as you won't be controlling all private keys in that case so again, seed is the ideal.

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May 06, 2017, 06:45:50 PM
 #109

1. The wallet will keep asking you for the 2FA unless you restore it using the seed IIRC.
Just to be 100% sure about the answer, because I realized that maybe I didn't ask properly: what I wanted to know is that if the 2FA is already enabled and required during the first restore, so in case someone else gets the seed won't be able to restore / steal the wallet because he won't have the 2FA code  Wink

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May 07, 2017, 02:14:07 PM
 #110

Just to be 100% sure about the answer, because I realized that maybe I didn't ask properly: what I wanted to know is that if the 2FA is already enabled and required during the first restore, so in case someone else gets the seed won't be able to restore / steal the wallet because he won't have the 2FA code  Wink

The restore can be done without the 2FA and that's actually a good thing because If you ever lose access to your 2FA, you will be able to restore the funds. So just make sure to store the seed somewhere safe.

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May 07, 2017, 03:41:49 PM
 #111

Thanks again for all the explanations Omega!  Wink

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May 10, 2017, 04:54:10 PM
 #112

Long time ago I used multibit and I had single address, new multibit has worse design (imo), any way to use old multibit and 1 address? Thanks!

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May 10, 2017, 05:34:27 PM
 #113

Long time ago I used multibit and I had single address, new multibit has worse design (imo), any way to use old multibit and 1 address? Thanks!

Multibit Classic (the old one) is no longer being updated and anyone using it is having a lot of issues (most of them are with the slow transactions and low fees). I really wouldn't suggest using it.

If you only want to use one address then this can be done using Multibit HD, even If the wallet generate a new address each time, you could use one over and over. (just save it in a .txt file and keep giving it to people when you want to receive).

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May 11, 2017, 12:43:38 PM
 #114

Long time ago I used multibit and I had single address, new multibit has worse design (imo), any way to use old multibit and 1 address? Thanks!

Multibit Classic (the old one) is no longer being updated and anyone using it is having a lot of issues (most of them are with the slow transactions and low fees). I really wouldn't suggest using it.

If you only want to use one address then this can be done using Multibit HD, even If the wallet generate a new address each time, you could use one over and over. (just save it in a .txt file and keep giving it to people when you want to receive).

Thanks for your answer. Yes, I've tried new MultiBit, but I like old design more Smiley And it's so easy to click and generate new addresses to get coins so you end up with lots of them after a while. Most likely it's just me and I need to get used to new MultiBit.

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May 17, 2017, 10:04:32 AM
 #115

For android I'm using Coinomi wallet, because it supports a lot of coins(DGB, LTC, ETH, and much much more) Coinomi is my hot wallet, I also have offline wallet for safe keeping, thread mentioned Ledger HW.1 wallet.

Is there any other android wallet that has multiple coins for storing?

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May 17, 2017, 01:24:27 PM
 #116

For android I'm using Coinomi wallet, because it supports a lot of coins(DGB, LTC, ETH, and much much more) Coinomi is my hot wallet, I also have offline wallet for safe keeping, thread mentioned Ledger HW.1 wallet.

Is there any other android wallet that has multiple coins for storing?

You have jaxx which is also available in multiple platforms (can sync across your devices) as well: https://jaxx.io/ . I must warn you though, Its not really "open source" as they claim, I believe no thefts has been reported so far but I wouldn't use it for storing large amounts If I were you.

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May 17, 2017, 08:27:22 PM
 #117

who guarantees, that wallets like Copay do not steal my bitcoins?
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May 17, 2017, 11:30:45 PM
 #118

Wow! I'm so thankful for this information. It's so great to have sometimes someone who have a very good heart sharing this kind of information... God bless you!

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May 18, 2017, 07:28:44 AM
 #119

You have jaxx which is also available in multiple platforms (can sync across your devices) as well: https://jaxx.io/ . I must warn you though, Its not really "open source" as they claim, I believe no thefts has been reported so far but I wouldn't use it for storing large amounts If I were you.
Is Exodus 100% open source or not?

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May 18, 2017, 07:42:59 AM
 #120

who guarantees, that wallets like Copay do not steal my bitcoins?

No one guarantees anything but I believe that Copay is open source for both the client and server side, they also claim that you are controlling your funds without having any third party interfering.

Is Exodus 100% open source or not?

Exodus.io is also not open source but this might change in the future. It was also explained by the developer: https://www.reddit.com/r/Bitcoin/comments/4z5uw4/exodusio_multi_asset_wallet_100_trustworthy/ddi16a0/

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May 18, 2017, 06:12:27 PM
 #121

Hello. I just want to ask about the Electrum wallet. There are three options for Windows to download: The standalone, windows installer and the portable version. What are the differences of these and which would be best to download?

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May 19, 2017, 06:24:48 AM
 #122

Hello. I just want to ask about the Electrum wallet. There are three options for Windows to download: The standalone, windows installer and the portable version. What are the differences of these and which would be best to download?

The standalone: don't require any installation, data will probably be stored somewhere (AppData folder most likely).
Windows Installer: require an installation and the data will also be stored in the AppData folder.
Portable version: Its an executable that will store the data inside itself (the exe) so you can move it around.

ThomasV (the developer of Electrum) made a warning about Portable version at some point: https://bitcointalk.org/index.php?topic=154451.0
I personally wouldn't go with the Windows Installer or Standalone option.


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May 23, 2017, 12:40:15 PM
 #123

Hi, i have just joined the forum so please forgive my ignorance, I'm trying to understand all the differences with the all the coins/tokens etc and wallets available, i've read quite a lot but some of the reading may already be "old news", I've decided Poloniex for my exchange, what is the consensus for which/what wallet i should have/use? All advice greatly received, thanks.
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May 23, 2017, 02:13:16 PM
 #124

Hi, i have just joined the forum so please forgive my ignorance, I'm trying to understand all the differences with the all the coins/tokens etc and wallets available, i've read quite a lot but some of the reading may already be "old news", I've decided Poloniex for my exchange, what is the consensus for which/what wallet i should have/use? All advice greatly received, thanks.

A real wallet is a wallet that give you control over your private keys, those keys are what allow you spend the bitcoins from your addresses. Poloniex or other exchanges don't give you those keys, they generate an address for you and they control the key. If they ever get hacked, decided to suspend withdrawal, or even try to steal your money, there will be nothing you can do.
So I suggest using a wallet like Electrum for PC, Mycelium for Android, there is nothing wrong on using an exchange but once you are finished trading, withdraw your coins from your Poloniex to your wallet (Electrum,Mycelium, or whatever)