Simple FlowChart to choose a bitcoin wallet (open to suggestions)

[Coding Enthusiast]

I have made a simple and short flowchart to help with choosing a bitcoin wallet.
Tell me what you think about it and how can it be improved.

It is a Microsoft Word Document (.docx format) that I can also share after it is finished and if anyone was interested.

Click on the image to see the large version on imgur if it is hard to read:


History:
Edition 1: https://i.imgur.com/1BXMQB9.jpg
Edition 2: https://i.imgur.com/EOeaBZe.jpg
Edition 3: https://i.imgur.com/CFp3lbJ.jpg

[altcoinhosting]

not completely sure if i'd suggest web/mobile wallets to anyone... Even if it's just to store a very small ammount.

[~Bitcoin~]

not completely sure if i'd suggest web/mobile wallets to anyone... Even if it's just to store a very small ammount.

I also agree with him and like to suggest you to add one section below small and web wallet part. Ask whether you will be actively sending/receiving bitcoin (small amount) if yes you can suggest strong client side web wallets or electrum like light wallets and if NO than make an arrow to show it toward paper wallet which you have in end of second column in image.

[harizen]

not completely sure if i'd suggest web/mobile wallets to anyone... Even if it's just to store a very small ammount.

But no doubt that most of the web wallets are giving convenient to all bitcoin users when dealing in bitcoin transaction in most of the cases. But for storage purposes definitely it's not advisable.

To the OP, what about some footnote/s especially in the web wallets as a disclaimer? What I mean is the footnote description will be added at the bottom left of the flowchart.

E.g. Web Wallets*

* example of recommended web wallets
* use at risk (or soemthing like that)

[arcanaaerobics]

Looks nice, a lot of people have doubts when they go to choose the wallet and with this image anyone can have a better view in 1 minute...

Hope it can be translated to another languages too.

[altcoinhosting]

@altcoinhosting @~Bitcoin~
I have changed things around to show more of my thought process, web and mobile wallets are more for spending purposes.

♯To the OP, what about some footnote/s especially in the web wallets as a disclaimer?♯

Good idea, I will add that in the end, possibly in the morning.

Better You are correct that if you want access to a small fraction of your BTC for spending purposes, web or mobile wallets might be a good choice to hold spending money...

[Wind_FURY]

That looks good! Please take it to the newbies area and request for a mod to make it a sticky thread. It will surely help stop the "which wallet to use" threads that keeps popping up every now and then. One suggestion is to also list the web wallet services available.

[Coding Enthusiast]

Instead of naming all the wallets, and for brevity I've added the link with its QR (for ease of use) to the top.

[odolvlobo]

I would add another decision: "Are convenience and ease of use important?"

I would not recommend Bitcoin Core or Armory if convenience and ease of use are important.

[Sharky444]

I would change the font to something more readable. Especially the contrast.

[Aamir1]

That looks good! Must be helpful for newbies whom are looking to start with bitcoin and they are confused in choosing their wallet.

I would change the font to something more readable. Especially the contrast.

I agree with the above quote, you should make it a little more readable so that everyone should see it clearly without getting their eyes near to the screen or zooming etc.

[CasioK]

not completely sure if i'd suggest web/mobile wallets to anyone... Even if it's just to store a very small ammount.

But no doubt that most of the web wallets are giving convenient to all bitcoin users when dealing in bitcoin transaction in most of the cases. But for storage purposes definitely it's not advisable.

To the OP, what about some footnote/s especially in the web wallets as a disclaimer? What I mean is the footnote description will be added at the bottom left of the flowchart.

E.g. Web Wallets*

* example of recommended web wallets
* use at risk (or soemthing like that)

For sure online wallets are more convenient when making frequent transaction using small amount of bitcoin, but if the amount of bitcoin is large and/ or for storage long term purpose, then neither web nor mobile wallet is advisable because they are highly vulnerable to be hacked compared to stand alone wallets.

[avatar_kiyoshi]

This actually simple flowchart just give an option what type wallet should use for types person. It's great, simple and to the point. Saved to my device.

Little bit suggestion from me is give some level to bitcoin wallet product which presenting the excess and the deficiency.

[Coding Enthusiast]

I would add another decision: "Are convenience and ease of use important?"
I would not recommend Bitcoin Core or Armory if convenience and ease of use are important.

Convenience and Ease of use is in the heart of the last Diamond shape asking about the internet speed and storage space.
The purpose of a flowchart is never to go through all the small details of everything, and I have tried to make mine as simple as possible so that if you don't know anything about bitcoin you can take a look and get a "general idea".

I would change the font to something more readable. Especially the contrast.

I agree with the above quote, you should make it a little more readable so that everyone should see it clearly without getting their eyes near to the screen or zooming etc.

This is how you see it on the forum because of the restrictions of resolution and being in-line. I have also added a width tag to the image so it is smaller in order to prevent crowding all the space in the post.
You should click on it (it is an imgur.com link) and see the image in the real size which is 2000x1365 pixels and I believe it is more than enough for being readable. If not I can upload the original resolution of 9124x6193 pixels!

I did change the colors and the font a little bit though. (check OP)

Some advice :
1. Give good example of mobile/web/hardware wallet because not all of them are good choice.
2. I think bitcoin core and armory should be chosen if they want maximum security, anonymity or willing to run full nodes.
3. We know that most web wallet also comes with mobile version, so it would be great to ask if they only want mobile wallet (such as electrum) or both of them (such as coinbase) because those wallet offer different level of security, anonymity and features.

1) Added.
2) That is not right. bitcoin core or Armory does not provide any addition security that you can't get from other wallet options like an SPV wallet (Electrum or Multibit) or paper wallet.
3) I try to stuff in as much information as I can without crowding the flowchart making it hard to follow.

Little bit suggestion from me is give some level to bitcoin wallet product which presenting the excess and the deficiency.

Can you give me an example with more details?

[Zadicar]

not completely sure if i'd suggest web/mobile wallets to anyone... Even if it's just to store a very small ammount.

Web wallets  are  also good  if  you  love   convenience on  faster transaction. Web wallet would be realiable as   long  you  dont   put all  your  bitcoin on it because as  we all  know  we dont  possess the  private key  if   problem occurs  on the  future and    for sure we would  have a problem. Hardware wallets  and desktop wallets would  be  the best  choice. Well its  peoples preference which  he would use that  suits  his  needs,

[Bitcoingiver]

I use Xapo Bitcoin wallet and it have being saving me well.

[Fyodor]

Some wallets have withradwal tresholds, so what if you no longer want tgeir service and would want to withdraw everything. Is that possible?

Anyone please.

[Coding Enthusiast]

Some wallets have withradwal tresholds, so what if you no longer want tgeir service and would want to withdraw everything. Is that possible?

Anyone please.

- I am not using web wallets like Coinbase or Xapo and those are the only wallets that can have such thing as withdrawal threshold. You have to read their ToS on the respective websites.
- Besides don't forget that the suggestion is only for cases that you want to keep "small amount" in these sites so withdrawal threshold should not apply in this case.

[Velkro]

...simple and short flowchart...

Do you know average person can have problem reading this? Bitcoin community should understand that, because they are above average, but if someone is new, and need to choose wallet, he will have hard times understanding this

[Coding Enthusiast]

...simple and short flowchart...

Do you know average person can have problem reading this? Bitcoin community should understand that, because they are above average, but if someone is new, and need to choose wallet, he will have hard times understanding this

I have tried to make it as simple as possible so it is easily understandable by anyone even with no bitcoin knowledge. So I believe what you say is not completely right here.

And unless you have any suggestions or problem with something in particular, your comment here is not constructive.