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Author Topic: [General] Bitcoin Wallets - Which, what, why?  (Read 80880 times)
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CryptoEnthused
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December 07, 2017, 07:40:01 PM
 #281

I have a question about Electrum. Can't understand one thing. After every transaction, Electrum generates new receiving address. What if I use the same address? And the second question: when I hit send, it only offers me to fill in the amount I want to send but I don't see where it says from which address I want to send it. How can I choose from which address do I want to spend by BTC?
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OmegaStarScream
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December 08, 2017, 06:45:07 AM
 #282

I have a question about Electrum. Can't understand one thing. After every transaction, Electrum generates new receiving address. What if I use the same address? And the second question: when I hit send, it only offers me to fill in the amount I want to send but I don't see where it says from which address I want to send it. How can I choose from which address do I want to spend by BTC?

It's for privacy reasons so someone can't link multiple transactions to you. You are free to use the same address over and over. As from sending from specific address then you should head to your receiving addresses, Right click the address and choose "Spend from".


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December 08, 2017, 07:11:37 AM
 #283


It's for privacy reasons so someone can't link multiple transactions to you. You are free to use the same address over and over. As from sending from specific address then you should head to your receiving addresses, Right click the address and choose "Spend from".


Thanks. And if I don't choose it specifically, Electrum determines address from which to spend randomly?
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December 08, 2017, 07:20:41 AM
 #284

Thanks. And if I don't choose it specifically, Electrum determines address from which to spend randomly?

It's not random. If you go to Preferences => Transactions => Coin Selection, you will see that you have two options (Priority and Privacy). By default, It's "Priority".


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December 18, 2017, 02:05:40 PM
 #285

I have read a lot but cannot find an answer to my question. It seems like the term "bitcoin" is used as a general name for all crypto currency. Kind of like Kleenex is for facial tissue. Which causes misconception and confusion looking for wallets.
Does Blockchain . info / wallet hold any type of coin or only bitcoin? I am looking for a wallet to hold XRP ETH OMG and others preferably all in one wallet.
Is it common to have multiple wallets (online or off) based on which coin is being held?
I am thinking bitaddress. org may be my best option.
Thank you for your help, it is much appreciated.
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December 18, 2017, 02:08:48 PM
 #286

It seems like the term "bitcoin" is used as a general name for all crypto currency.
No. There is only one Bitcoin (BTC), and it is the first crypto-currency, and the only one massively adopted/the only digital gold.

Does Blockchain . info / wallet hold any type of coin or only bitcoin?
Don't use online wallets.

I am looking for a wallet to hold XRP ETH OMG and others preferably all in one wallet.
Avoid multiple coin wallets.

Is it common to have multiple wallets (online or off) based on which coin is being held?
Yes.

I am thinking bitaddress. org may be my best option.
No. Download the wallet that is designed for each currency.

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December 18, 2017, 02:32:37 PM
 #287

I am thinking bitaddress. org may be my best option.
No. Download the wallet that is designed for each currency.
[/quote]

So, Bitaddress . org is only for bitcoin?
 
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December 18, 2017, 04:39:13 PM
 #288

So, Bitaddress . org is only for bitcoin?

It's clearly written on the site "Bitcoin Wallet Generator". Bitaddress is used for making paper wallets most of the time (for long term storage). If you want to spend on a regular basis, use something like Electrum (yes, for BTC only).

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December 21, 2017, 05:29:02 PM
 #289

Will there be problems if I use several bitcoins of wallets?

If you're using a different software for each one then not really as each wallet create its own folder in AppData (e.g Multibit, Electrum etc.) so it won't overwrite the old wallet.dat you already had from another software and as for creating multiple wallets using the same software (e.g Electrum) then the answer is no too as It will ask you to name the wallet so you should just name it differently.

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December 25, 2017, 08:55:13 PM
 #290

Electrum is the best wallet in my opinion. However, I think that will be awesome to create a Multisig wallet Desktop.
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December 25, 2017, 10:30:33 PM
 #291

Electrum is the best wallet in my opinion. However, I think that will be awesome to create a Multisig wallet Desktop.

Noob here:  Say I buy a currency with Cryptopia, the secure thing to do is to move the coin to a wallet and not keep it at Cryptopia? I have a Mac and iPhone what wallet should I use and how would I transfer from Cryptopia to that wallet?
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December 26, 2017, 12:55:30 AM
 #292

Electrum is the best wallet in my opinion. However, I think that will be awesome to create a Multisig wallet Desktop.

Noob here:  Say I buy a currency with Cryptopia, the secure thing to do is to move the coin to a wallet and not keep it at Cryptopia? I have a Mac and iPhone what wallet should I use and how would I transfer from Cryptopia to that wallet?

Mobile wallets on Android are the easiest to use and very well maintained. I would recommend Mycelium. On a desktop system, Electrum is very good. But, best option is to use a hard wallet. It means your bitcoins or other tokens are physically stored there, for example, I advise you to use Ledger Nano S.
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January 21, 2018, 03:18:00 PM
 #293

Can I ask you guys why you dont let your money on exchange sites. ?like bittrex and binance and so. Arent they safe enough with authenticator
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January 21, 2018, 03:29:07 PM
 #294

Can I ask you guys why you dont let your money on exchange sites. ?like bittrex and binance and so. Arent they safe enough with authenticator

An exchange doesn't give you control over your private keys. 2FA is to protect you from someone trying to hack your account only but not from a hacker trying to hack the exchange hot wallets because the balance you see in your account is just 1's and 0's, when you request a withdrawal, funds will move from the exchange addresses.

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