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Author Topic: [General] Bitcoin Wallets - Which, what, why?  (Read 118936 times)
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OmegaStarScream
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June 05, 2019, 09:52:50 AM
 #301

Thanks for the superb informations.
I'm totally a newbie and my question is this " Does one need different wallet to fit in to every currency brand, or one single wallet is enough to work on the digital market.

Multi assets wallets like Jaxx, Exodus, Coinomi, Atomic wallet, etc. tend to be closed source and not transparent, I wouldn't suggest them.

So unless you're using a hardware wallet like Trezor or Ledger, for example, It's better to get a wallet for each coin (If they are ERC20 tokens, you should be fine with one wallet).


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mytakin
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June 06, 2019, 09:18:20 PM
 #302

hi i am a newbie as u can see,excuse my question but are offline wallets advantageous?in term of security


Offline wallets are better due only you has absolute control of your keys and the signatures. Any online services could have access to your keys.
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June 06, 2019, 09:46:30 PM
 #303

hi i am a newbie as u can see,excuse my question but are offline wallets advantageous?in term of security


Offline wallets are better due only you has absolute control of your keys and the signatures. Any online services could have access to your keys.
thanks i will search for that,security is the most important thing with this cryptocoins
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June 06, 2019, 10:59:52 PM
Merited by xandry (2)
 #304

-snip-
thanks i will search for that,security is the most important thing with this cryptocoins
Here are some references if you want to use an offline wallet:
- How to Create and Use an Offline Bitcoin Wallet aka Cold Storage with Electrum - Mario Dian
- Using MEW Offline (Cold Storage)

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June 13, 2019, 01:18:18 AM
Last edit: July 05, 2019, 07:06:15 AM by masulum
Merited by Halab (2), LoyceV (1), Husna QA (1)
 #305


thanks i will search for that,security is the most important thing with this cryptocoins


I create an infographic about some idea to keep your wallet secure  Cool


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June 14, 2019, 01:49:48 PM
 #306

I do keep my coins on hardware wallets and actually, tried both ledger and trezor, see no difference. But when dealing with erc20 I use a mobile app Lumi wallet. Now you can get  a free eos account there which is neat. Not sure how much it costs niormally but heard it's somehow painful to create new eos account.
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June 19, 2019, 08:31:29 AM
 #307

Hey, I'm pretty new at this and I was thinking to get a nordvpn to secure my wallet. Although I would like to get your opinion about this. Is it usefull, is it worth it, or maybe you could suggest something else?

Thank you.
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June 19, 2019, 01:03:38 PM
Last edit: June 19, 2019, 03:43:06 PM by OmegaStarScream
Merited by dbshck (2), xandry (1)
 #308

Hey, I'm pretty new at this and I was thinking to get a nordvpn to secure my wallet. Although I would like to get your opinion about this. Is it usefull, is it worth it, or maybe you could suggest something else?

Thank you.

A VPN, transactions over Tor, and using mixers will only make you hard to track and find. If you're concerned about the safety of your funds that much, a hardware wallet is the best solution.

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Use SegWit and enjoy lower fees.


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June 19, 2019, 03:05:28 PM
 #309

Hey, I'm pretty new at this and I was thinking to get a nordvpn to secure my wallet. Although I would like to get your opinion about this. Is it usefull, is it worth it, or maybe you could suggest something else?

Thank you.

You should use VPN if you have privacy concern.

If you have concern of wallet security, you should use hardware wallet. Take note you should buy it from official website & verify whether it's tampered/not before you use it. Few people become victim of tampered wallet where it's seed already configured.
If you can't or don't want to buy one, make sure your device is clean & encrypt your wallet with strong password.

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June 20, 2019, 06:03:08 AM
 #310

Currently using coinbase wallet and I think the fees are high.

Any other wallet with similar functions and a bit lower fees? I kinda do 3-5$ transactions and it requires around 2$ worth in fees so I end up paying more, and over the time it costs alot.
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June 20, 2019, 06:25:53 AM
 #311

Currently using coinbase wallet and I think the fees are high.

Coinbase is more like an exchange. Try to use Electrum, you can change the fees if you want to, but remember that it depends on a lot of things, such as your input, the network status and so on. But in general, using Electrum (plus segwit) could give you a boost instead of using an exchange wallet.

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Use SegWit and enjoy lower fees.


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June 20, 2019, 05:30:50 PM
 #312

Currently using coinbase wallet and I think the fees are high.

Coinbase is more like an exchange. Try to use Electrum, you can change the fees if you want to, but remember that it depends on a lot of things, such as your input, the network status and so on. But in general, using Electrum (plus segwit) could give you a boost instead of using an exchange wallet.

Still, you need to move your Bitcoin from Coinbase to another wallet & you'll back to the first problem.

Don't forget Coinbase is custodial wallet and AFAIK there's no export seed/private key option.

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June 22, 2019, 05:09:55 AM
Merited by OmegaStarScream (1)
 #313

Currently using coinbase wallet and I think the fees are high.

Coinbase is more like an exchange. Try to use Electrum, you can change the fees if you want to, but remember that it depends on a lot of things, such as your input, the network status and so on. But in general, using Electrum (plus segwit) could give you a boost instead of using an exchange wallet.

Still, you need to move your Bitcoin from Coinbase to another wallet & you'll back to the first problem.

Don't forget Coinbase is custodial wallet and AFAIK there's no export seed/private key option.

I have moved to blockchain wallet.

Seems decent enough to me.

I can have the minimum bytes as low as 10, but I think 20-50 bytes is good enough. It'll take an hour to fully receive but getting 1 confirmation is less than an hour or so. Haven't tested sending low amounts and seeing, what fees I have to pay.

I moved my BTC from coinbase to Blockchain, and I'll stick to this.

I am not very "technical" with words like segwit and I am a simple user, trying to use bitcoins for my daily transactions.

P.S I do my payments mostly via mobile, so the blockchain app is pretty good and also convenient in letting me handle the fees.

But I read their note, that if the fees are very low. the transaction may never be confirmed? Has this happened to anyone before? And why does this happen? I thought the more the fees, faster it get's confirmed, but less fees = may not get confirmed at all? And there's no way getting a refund for BTC, so you'd lose the money forever?
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June 25, 2019, 10:17:31 AM
 #314

I would recommend taking a look at ZenGo. It's the first keyless, non-custodial wallet based on threshold cryptography. There is no private key but you're still the ONLY one who has access or control of your funds.
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June 25, 2019, 10:46:12 AM
 #315

I would recommend taking a look at ZenGo. It's the first keyless, non-custodial wallet based on threshold cryptography. There is no private key but you're still the ONLY one who has access or control of your funds.

Look great, I start to searching about ZenGo and found articles on Mashable, there is mentioned if we need to scan our face to start using wallet after registrations.

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June 25, 2019, 10:53:03 AM
 #316

I would recommend taking a look at ZenGo. It's the first keyless, non-custodial wallet based on threshold cryptography. There is no private key but you're still the ONLY one who has access or control of your funds.

Look great, I start to searching about ZenGo and found articles on Mashable, there is mentioned if we need to scan our face to start using wallet after registrations.

To backup your wallet you do need to scan your face. Although the way that the server side stores the face scan is through an encrypted mathematical representation of your face (not an actual photo). So it's not something that could be abused or distributed.

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June 26, 2019, 04:59:35 AM
 #317

But I read their note, that if the fees are very low. the transaction may never be confirmed? Has this happened to anyone before? And why does this happen? I thought the more the fees, faster it get's confirmed, but less fees = may not get confirmed at all? And there's no way getting a refund for BTC, so you'd lose the money forever?

That's possible. The reason is that your tx might never enter the mempool because the network is busy and never get free. To put it simply, your transaction might never get processed at all because the average fees are always higher than your TX fees. So, you'll never be able to send your things with $1 when the average fees are $5, and that continues forever.

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June 26, 2019, 08:03:23 AM
 #318

What about securing the crypto wallet? I found this article https://tipsfromgeeks.com/guides/crypto-wallet-security/ about it, although I'd like to get some personal experience.
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June 26, 2019, 09:09:23 AM
 #319

What about securing the crypto wallet? I found this article https://tipsfromgeeks.com/guides/crypto-wallet-security/ about it, although I'd like to get some personal experience.

An anti-virus won't do much as viruses are getting more sophisticated. If you want to be safe, just stop visiting shady websites and downloading random files off the internet.

For backups, don't do put anything online/on the cloud. Store them in USB drives or piece of paper (seed words/ private key).

It seems like they are referring to online wallets and exchanges when suggesting 2FA. You shouldn't even use these services to start with, stick to wallets like Electrum instead.


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June 30, 2019, 03:11:27 AM
 #320

Wasabi Wallet
Samurai Wallet
Both are Wallets are built in regards to better privacy.
Wasabi wallet just mixes coins on all wallets users between each other and does it using the multisig script to completely eliminate the trust on the other party. Also being a new type of validation, which involves communication with a central server anonymously over Tor AND the Bitcoin P2P network. I like their way of utilizing coinjoin and all the other features it has which also do not complicate the GUI of the wallet. One thing is though it only supports Bech32, being a segwit address format which is specified by BIP 0173. Also the to use coinjoin the minimum amount is considered high as I believe it's over 200USD to initially mix in coins.

Samurai Wallet is I'd say is definitely focused on taking back privacy of transactions and they definitely are very forward with elevating security at a higher caliber than most mobile applications. They most certainly are devoted to what they do and the whole development team is very active. I'd recommend both wallets to anyone who seeks out privacy and also for convenience wasabi wallet packs a lot of useful features for breaking the ties of bitcoin transactions/blockchain.
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