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Author Topic: [General] Bitcoin Wallets - Which, what, why?  (Read 139130 times)
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Briggsmarineconsult
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February 29, 2024, 06:54:01 AM
 #261

I need help I lost my phone that is linked to my bitcoin wallet that has 2 way factor key
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February 29, 2024, 02:16:12 PM
 #262

I need help I lost my phone that is linked to my bitcoin wallet that has 2 way factor key
You might want to mention the name of the wallet or the service in question, but most of them also provide backup codes when you first set up 2FA on your wallet or rather account.
- It's worth mentioning that some of these platforms have the option of resetting your 2FA as well!

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March 27, 2024, 09:41:23 AM
 #263

I Think Binance in tha bwst bitcoin wallet. It's easy to use. Very user friendly. Easy to withdraw and Deposit. Treading option and much more...
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March 27, 2024, 02:16:03 PM
Merited by JayJuanGee (1)
 #264

I Think Binance in tha bwst bitcoin wallet. It's easy to use. Very user friendly. Easy to withdraw and Deposit. Treading option and much more...
I'm not a Binance user, but AFAIK they don't have a dedicated Bitcoin wallet [disregarding their involvement with a certain brand of HW] so all of your stored assets in their so-called wallet belong to them [they can freeze or confiscate it whenever they want]!
Note: The user-friendly part is a trade-off between security and convenience!

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May 01, 2024, 05:32:09 PM
 #265

hi i am a newbie as u can see,excuse my question but are offline wallets advantageous?
in term of security.
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Today at 08:03:25 AM
 #266

...
I'm quite certain you're speaking of an air-gapped wallet setup, where the offline/air-gapped part keeps the private keys safe and never has contact to online internet. The air-gapped part thus is unreachable for malware or other nasty things.

Such a setup has a watch-only wallet part (the watch-only wallet doesn't have private keys and thus can't loose those to malware) which is online to broadcast signed transactions and of course receive updates on transactions of the wallet's addresses.

Such an air-gapped setup with an offline "cold wallet" that holds and secures the private keys and an associated online watch-only "hot wallet" without private keys (it has only the extended public master key to generate all addresses of the wallet) is very secure.

It's less convenient than a decent hardware wallet but offers very good security if handled properly and keeping the cold part always offline.

You should be able to find more about it with search keywords "air-gapped software wallet".

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