[General] Bitcoin Wallets - Which, what, why?

[masulum]

Hi guys, anyone here using coinspace wallet? Recently I started using it but not really sure whether it's legit or not. Read some weird user experiences...

I know this wallet because your post. If i read reviews of this wallet on Bittrust.org, some people says has error and scam. If you don't really know about this wallet, the best option to stay away except you want to make more research. If you are want to use mobile wallet, such ase Eidoo, coinomi, blockchain.com wallet. But, not recommended to use mobile wallet, the best way to save your crypto on offline wallet.

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[OmegaStarScream]

Hi guys, anyone here using coinspace wallet? Recently I started using it but not really sure whether it's legit or not. Read some weird user experiences...

I haven't used them myself but since it's open-source and also listed on Bitcoin.org, it should be safe to use. There are better alternatives out there though.

[Husna QA]

Hi i am pretty new to this. What is the recommendation for secure hardware wallets? Popular brand?
Appricated 

Trezor (https://shop.trezor.io/)
Ledger (https://shop.ledger.com/products)
and many more ...

https://bitcoin.org/en/wallets/hardware/
https://en.bitcoin.it/wiki/Hardware_wallet

Choose a hardware wallet that supports the coins you want to keep in your hardware wallet.

[OmegaStarScream]

Please I will like a recommendation for a reliable bitcoin wallet where I can store my bitcoins for future use.

If you are holding less than 500$ and planning to spend on a regular basis: Electrum (PC) or Mycelium (Phone).

For bigger holdings, I suggest considering hardware wallets as they're more secure: Ledger or Trezor (30% discount on both devices because of Black Friday).

[Husna QA]

-snip- Here are the names that one first comes across when searches for this kind of info: Trust, MEW, Atomic, Exodus, Coinomi, Electrum, Samourai... How to choose? I've kind of got lost in all those names

You can experiment by trying it all.
My advice, please note the following points:
- Choose a wallet that gives you full access to the private key/seed.
- Choose a wallet based on features, both in terms of security and other supporting features.
- Choose a wallet based on the number of users.

[masulum]

Hi Good day everyone I have an account on https://localbitcoins.com/, I have read some bad things and good things on this website, what do you guys think about this website/wallet?

As you can see  I am new around here so if you can point me in the right direction, I would appreciate it a lot

Localbitcoins is not a wallet, this service just for an exchange fiat/PayPal/digital wallet money to Bitcoin or vice versa. If you have Bitcoin/fiat on this service, withdraw it ASAP. I'am using this service once, the fees and price to sell is under major exchange (Binance, Bittrex, etc.), and when i want to buy, it's above exchange rates. IMO, it's not recommended to use this service.

[OmegaStarScream]

Hi Good day everyone I have an account on https://localbitcoins.com/, I have read some bad things and good things on this website, what do you guys think about this website/wallet?

As you can see  I am new around here so if you can point me in the right direction, I would appreciate it a lot

If you're planning to use it as a personal wallet, don't. Use Electrum instead to have full control over your funds.

Aside from that, there is nothing wrong with the website (as an exchange platform). Just be careful while trading and make sure to check the trust history of the people you're dealing with.

[Husna QA]

-snip- I have an account on https://localbitcoins.com/, I have read some bad things and good things on this website, what do you guys think about this website/wallet? -snip-

As far as I know, https://localbitcoins.com/ belongs to the Over the Counter (OTC) cryptocurrency trading category.
Some points that may need your attention.

-snip-
What are the problems with OTC?
• Settlement risk - there is no guarantee the asset will be delivered, or cash will be paid. Coin transfer often happens much faster than the wire payment transfer (often by several hours).
• No custody solution - most OTC brokers don’t provide a custody solution (or provide a very limited service), which can increase settlement and operational risk.
• Multi-jurisdictional KYC issues - dealing with countries with poor.
-snip-

https://bitcointalk.org/index.php?topic=5124755.0

[JoJoNssien01]

Is blockchain bitcoin wallet the most secured?

[Husna QA]

Is blockchain bitcoin wallet the most secured?

Do you mean https://www.blockchain.com (https://www.blockchain.info)?
Here is a suggestion from my senior (nullius) to me about blockchain.com (blockchain.info):

[OmegaStarScream]

is coinbase that secure for controlling the wallet? where can i manage it myself to be more sure and protected??
Thanks

It's not. If you want to use Coinbase, use it only to trade and not as a personal wallet. The best solution would be a hardware wallet and if you can't afford that, use Electrum.

[Husna QA]

is coinbase that secure for controlling the wallet? where can i manage it myself to be more sure and protected??
Thanks

Do you mean Coinbase wallet?
https://play.google.com/store/apps/developer?id=Coinbase+Wallet

For the security of your wallet, you can adjust several settings in the settings menu.
In the Security section, backup the phrase (12 words) and don't share it with others.
Also, you can adjust the App Lock settings.

   

[riskyron]

What's the difference between buying BTC from a crypto wallet and from a crypto exchange? If we talk about small amounts of crypto on a regular basis

[Husna QA]

What's the difference between buying BTC from a crypto wallet and from a crypto exchange? If we talk about small amounts of crypto on a regular basis

FYI, Crypto/bitcoin wallet is not for buying and selling bitcoin but a place to store your bitcoin assets. You can buy bitcoin on a bitcoin exchange or buy it directly to individuals.

[VasilyS]

is coinbase that secure for controlling the wallet? where can i manage it myself to be more sure and protected??
Thanks

It's not. If you want to use Coinbase, use it only to trade and not as a personal wallet. The best solution would be a hardware wallet and if you can't afford that, use Electrum.

There is a possibility to use Electrum wallet as a cold storage. You have to install one Electrum wallet on PC without Internet connection and second one on PC online. You create wallet on cold wallet then open it as watch only program on online PC. There you create transaction, transfer file with unsigned transaction on first (cold) wallet and sign it. Signed transaction you take on USB-flash and send to the Bitcoin network from unsecure wallet. It offers very good level of security almost like hardware wallet. I don't recomend you to use exchang wallets to store assets. For instance, there is an example with Poloniex exchange that stealed 1800 BTC from lending accounts in June 2019 to cover losses caused by their bad software.

[libert19]

What's the difference between buying BTC from a crypto wallet and from a crypto exchange? If we talk about small amounts of crypto on a regular basis

FYI, Crypto/bitcoin wallet is not for buying and selling bitcoin but a place to store your bitcoin assets. You can buy bitcoin on a bitcoin exchange or buy it directly to individuals.

Many wallets have exchanges integrated, he's probably asking regarding that.

When you try to buy crypto from a wallet, you will see which exchange is providing the exchange service.

[OmegaStarScream]

Sure! I'm aware that a cryptowallet is a storage first of all. Nevertheless, I sometimes need to buy some small amounts via wallet, so I don't really see the point in using cryptoexchanges for that.

You have both Coinomi and Exodus (Multi-platform) with a built-in exchange (ShapeShift/Changelly) but neither of them is open source so I wouldn't suggest them for storing large amounts.

[Husna QA]

Many wallets have exchanges integrated, he's probably asking regarding that. -snip-

Yes, I know even on imToken and some android wallets I often see an instant market for buying and selling coins.
Previously I just wanted to give a limitation that the bitcoin/altcoin wallet is for storing coins.
To buy and sell coins still use the exchange even though it is integrated with the wallet and is called an Instant Exchange.

 

[joniboini]

Did any bitcoin wallet accept paypal for deposit or withdrawal?

Paypal or any similar platform generally does not allow any transactions related to cryptocurrencies. Even if you found one, there is a risk both on your Paypal account or your bitcoin. You can try with a debit/credit card to buy it on exchange and then store it on your wallet.

[Danydee]

 Blockchain.info/Blockchain.com not longer offer the possibility to send to multiple outputs..!