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

[VivGaming12]

What? Which ledger are we talking about? Ledger that makes Nano S and so on? From where did you read that they know the key phrase generated by its users? If that's true don't you think no one would buy their wallets?

You don't have to be online to create a new wallet (where did you learn this?). You don't need to be online to sign a transaction either. Maybe you can read this for additional info https://bitcointalk.org/index.php?topic=5190202.0.

I am talking about the seed phrase. that 26 (25 or 27) words code which is included in the packing of ledger nano wallet. which can be used to recover our wallets. company prints those seeds. so they can steal everyone wallets.

my 2nd question was. how can we send Bitcoin if we are offline and not connected to the blockchain? how? I am using electrum and it doesn't work when we are not connected to internet.
so there is no such thing as offline wallet.

[Husna QA]

I am talking about the seed phrase. that 26 (25 or 27) words code which is included in the packing of ledger nano wallet. which can be used to recover our wallets. company prints those seeds. so they can steal everyone wallets. -snip-

If you find that the PIN and seed phrase already exists in the Ledger Nano package that you purchased, likely, your Ledger is not safe to use.
A new PIN and seed are generated when you first set up the Ledger on the device connected to it (PC/smartphone).

A recovery phrase is needed if one day the hardware wallet device is damaged, lost, etc. so you can return your assets to the new Ledger. Therefore, don't tell the recovery phrase to other people you don't trust, including those who claim to be from the Ledger.

-snip- my 2nd question was. how can we send Bitcoin if we are offline and not connected to the blockchain? how? I am using electrum and it doesn't work when we are not connected to internet.
so there is no such thing as offline wallet.

Maybe you need to learn what is meant of the Offline Wallet and also how it works.

Offline wallet for savings
An offline wallet, also known as cold storage, provides the highest level of security for savings. It involves storing a wallet in a secured place that is not connected to the network. When done properly, it can offer a very good protection against computer vulnerabilities. Using an offline wallet in conjunction with backups and encryption is also a good practice. Here is an overview of some approaches.

Offline transaction signing
This approach involves having two computers sharing some parts of the same wallet. The first one must be disconnected from any network. It is the only one that holds the entire wallet and is able to sign transactions. The second computer is connected to the network and only has a watching wallet that can only create unsigned transactions. This way, you can securely issue new transactions with the following steps.
1. Create a new transaction on the online computer and save it on an USB key.
2. Sign the transaction with the offline computer.
3. Send the signed transaction with the online computer.

Because the computer that is connected to the network cannot sign transactions, it cannot be used to withdraw any funds if it is compromised. Armory can be used to do offline transaction signature.

Another reference:
https://medium.com/@Multicripto/how-to-make-offline-transactions-in-electrum-with-coldcard-wallet-838f84df379a

[joniboini]

I am talking about the seed phrase. that 26 (25 or 27) words code which is included in the packing of ledger nano wallet. which can be used to recover our wallets. company prints those seeds. so they can steal everyone wallets.

As mentioned above, no company did that. Check out the official guide, no company gives you a pre-generated seed for a wallet. Users will need to generate their own seed on their initial wallet set up. If anything, the company included some paper where you can easily write down your seed, but no more than that. You probably buy from a scammer if that's the case.

[Rivieramaya]

I use Blockchain as my main wallet and Binance to trade. I try not to keep too much in binance

[joniboini]

I use Blockchain as my main wallet and Binance to trade. I try not to keep too much in binance

You might want to change your main wallet to something safer. As mentioned on the OP and multiple times on other threads, a web-based wallet should not be your main wallet. And Binance is just an exchange, not a wallet.

[clifjw]

Looking for a little help on my first Bitcoin mobile wallet and hardware wallet.

For Android mobile wallets I've read through Mastering Bitcoin and I saw Mycelium being used in the examples, also a number of sites suggested it as best Android wallet, but the OP suggests it's not to be trusted. Another I've seen is the Electrum mobile wallet, which seems suggested in the OP (and subsequent) but on the Google store it's reviews aren't as favourable. At the moment I want to focus on Bitcoin, but I like the idea of looking at alt coins in the future. Reading through this post I've seen lots of people saying they use X (most of which I've not heard of). I'm all for choosing the one that suits your needs, so wondered if there is another source to go to for a more up to date view on the mobile wallets out there and how well they are received by those more in the know?

Regarding hardware wallets, I feel it's down to the Trezor and the Ledger, but which one and which variant. My gut tells me I can't afford the Model T, and whilst the Nano X is only £100 it's still very expensive whilst I'm dabbling my feet in crypto. So is there a good comparison source for the One and Nano S that is trusted? I'd be interested to know if those respected on this board have suggestions or a source that gives a good impartial comparison?

Many thanks.

[Husna QA]

-snip- so wondered if there is another source to go to for a more up to date view on the mobile wallets out there and how well they are received by those more in the know?

Other references you can consider:
https://bitcoin.org/en/choose-your-wallet?step=1#wizardMobileTitle

-snip- So is there a good comparison source for the One and Nano S that is trusted? I'd be interested to know if those respected on this board have suggestions or a source that gives a good impartial comparison?

Both have pros and cons.

-snip-
Ledger got a database leak and customer received phishing mails but their hardware wallet doesn't have any known architectural vulnerabilities. Trezors architecture is flawed allowing hardware attacks (which can be mitigated if done correctly) but didn't had any database breach.

Another comparison:
https://bitcoin.org/en/choose-your-wallet?step=5&platform=hardware&user=experienced&important=&features=hardware_wallet

If in the future you intend to store coins other than Bitcoin, check whether both hardware wallets support the crypto assets.
https://trezor.io/coins/ ; https://www.ledger.com/supported-crypto-assets

[joniboini]

My gut tells me I can't afford the Model T, and whilst the Nano X is only £100 it's still very expensive whilst I'm dabbling my feet in crypto. So is there a good comparison source for the One and Nano S that is trusted?

IMO the Nano X is only worth it if you plan to hold multiple coins and need to move around a lot, which means flexibility is really important for you. If that's not the case, and you only plan to hold Bitcoin and some alts, Nano S is still reliable. I'm using it since 2017 and so far it's great.

[Mynametiktok1]

If you're willing to put some money into it, go with a hardware wallet like Ledger  a paper wallet is fine but it's not that convenient for spending, it's mostly for long term storage.

You can use trust Wallet for bitcoin

[joniboini]

You can use trust Wallet for bitcoin

I'd not recommend it as your main wallet. Trust Wallet is closed source, and it's not ideal to use a mobile wallet as your cold-storage (unless you don't use it at all). Not to mention you won't be able to create/sign offline transactions with it (CMIIW).

[Husna QA]

If you're willing to put some money into it, go with a hardware wallet like Ledger  a paper wallet is fine but it's not that convenient for spending, it's mostly for long term storage. -snip-

I think paper wallets are also not suitable for storing bitcoin for a long time, especially if the media or printing equipment lacks low quality. Not to mention other security issues: https://en.bitcoin.it/wiki/Paper_wallet#cite_note-1

Larger sums of money residing on paper wallets should be handled with great care. At the very least, a solid understanding of cold storage is required.

[Mynametiktok1]

There is many bitcoin wallets in market you can tack Anything but After use you need to understand this wallet, you can see videos About this wallet.

Same wallets According to mee is trust wallet for sample use. Because it's safe and have a support of binance.

[Husna QA]

-snip- Same wallets According to mee is trust wallet for sample use. Because it's safe and have a support of binance.

The Trust wallet is not suitable as the main wallet. Even if you still want to use it, I suggest not keeping all your assets there, especially in large amounts. Please see the following references so you can reconsider if you wish to use a Trust wallet:

TrustWallet's not-so-good excuse:

It has come to our attention that some dishonest developers have been cloning Trust Wallet and either scamming users or using the code without permission as their own product.

source: https://medium.com/@trustwallet/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6

-snip-
Closed source: Since nobody else knows the codes except the developers, it is mainly them who can check the wallet for any bug or other vulnerabilities. I'm not sure how many are they but their number is surely fewer than the devs monitoring open source wallets. If a hacker finds a malware, it could probably take them longer time to fix that. The longer the time, the greater the risks to the funds of users.  
-snip-
Non-custodial mobile wallets used by many beginners today are probably unaware that they are closed source. Here are some of them:
- Coinomi
- Exodus
- Enjin
- Jaxx
- Trust Wallet (Android)

[joniboini]

There is many bitcoin wallets in market you can tack Anything but After use you need to understand this wallet, you can see videos About this wallet.

What exactly is "this wallet" you're talking about here? I feel like you're referring to something else other than Trust Wallet. Anyway if it's more or less the same wallet as Trust Wallet, the closed source downside still applies and you should not use it as your main wallet imo.

[joniboini]

-snip-

You already post something up above, there is no need to add a new post and not responding to the replies dedicated to your post. Especially if your point is the same thing with little to no added value. I suggest you stop doing this and learn about the forum rules before you post.

[Painted wall]

What's a compatible desktop wallet for a Chromebook? I don't think I can download bitcoin core. If i go get another computer and want it to be my offline wallet storing computer, do I just download whichever desktop wallet I'm going to use and then disconnect it from the internet and not use that computer for anything else other than sending and receiving coins? I got into researching bitcoin in 2015/2016 and invested some capital in 2018 and now I'm interested in learning more about cryptocurrencies again so I will have lots of questions to post and threads to read through and appreciate any support. Thanks.

[Husna QA]

What's a compatible desktop wallet for a Chromebook? I don't think I can download bitcoin core. -snip-

Maybe you can use Android-based bitcoin wallets to install on Chromebook (https://support.google.com/chromebook/answer/7021273).
Some of the wallet recommendations you might consider can be seen here:
https://bitcoin.org/en/choose-your-wallet?step=5&platform=android&user=experienced&important=&features=bech32,segwit.

I tend to advise you to use a hardware wallet.

By the way, I found the following discussion about Bitcoin Core running on a Chromebooks:
Chromebooks can run Bitcoin Core natively now >:D

[OmegaStarScream]

What's a compatible desktop wallet for a Chromebook? I don't think I can download bitcoin core. If i go get another computer and want it to be my offline wallet storing computer, do I just download whichever desktop wallet I'm going to use and then disconnect it from the internet and not use that computer for anything else other than sending and receiving coins? I got into researching bitcoin in 2015/2016 and invested some capital in 2018 and now I'm interested in learning more about cryptocurrencies again so I will have lots of questions to post and threads to read through and appreciate any support. Thanks.

If you were to store bitcoin and not use it, then I would've recommended a paper wallet, it's a way cheaper option. But since you're planning to spend from it on a regular basis, then as suggested better it would be better (security wise) to get a hardware wallet instead.

If you're not storing much though, then I don't see any harm in using a (non-custodial) extension/web wallet. See Guarda[1] and Magnumwallet[2].

[1] https://guarda.com/chrome-extension/
[2] https://magnumwallet.co/

[Stalker22]

If you were to store bitcoin and not use it, then I would've recommended a paper wallet, it's a way cheaper option. But since you're planning to spend from it on a regular basis, then as suggested better it would be better (security wise) to get a hardware wallet instead.

A paper wallet is also useful to protect your money from yourself if you want long-term hodling.
It's much harder to spend or gamble money recklessly if it isn't easily available to you.

[joniboini]

A paper wallet is also useful to protect your money from yourself if you want long-term hodling.

Just remember to store it securely. It would be a sad story if you lose your hard-earned coins because the seed is stored somewhere prone to water, fire, etc.

You might want to check Shamir Secret sharing if you're interested in splitting your seeds into multiple parts to increase the "security".