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st0nefish (OP)
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January 02, 2017, 07:43:00 PM |
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Hello,
I'm researching bitcoin wallets, but I still haven't decided. Online wallets are said to be unsafe. I'm thinking of using one of the desktop wallet software. Which wallet you recommend is easy to use.
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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shorena
Copper Member
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Activity: 1498
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No I dont escrow anymore.
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January 02, 2017, 07:49:51 PM |
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Hello,
I'm researching bitcoin wallets, but I still haven't decided. Online wallets are said to be unsafe. I'm thinking of using one of the desktop wallet software. Which wallet you recommend is easy to use.
Did you read? -> https://bitcoin.org/en/choose-your-wallet |
Im not really here, its just your imagination.
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BigBoom3599
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January 02, 2017, 07:51:24 PM |
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Here's a list of wallets https://bitcoin.org/en/choose-your-wallet. You can use the official bitcoin core wallet, however you will need to store the whole blockchain which is currently almost 100GB. To start I recommend you get a light client, such as Electrum. Good luck!  |
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st0nefish (OP)
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January 02, 2017, 08:16:04 PM |
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Hello,
I'm researching bitcoin wallets, but I still haven't decided. Online wallets are said to be unsafe. I'm thinking of using one of the desktop wallet software. Which wallet you recommend is easy to use.
Did you read? -> https://bitcoin.org/en/choose-your-walletYes, I read the wallets there. But I couldn't decide which wallet to choose. Here's a list of wallets https://bitcoin.org/en/choose-your-wallet. You can use the official bitcoin core wallet, however you will need to store the whole blockchain which is currently almost 100GB. To start I recommend you get a light client, such as Electrum. Good luck! Why electrum? What's the difference from the others? In general, they're all described as simple and lightweight. |
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shorena
Copper Member
Legendary
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Activity: 1498
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No I dont escrow anymore.
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January 02, 2017, 08:29:29 PM |
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-snip-
Why electrum? What's the difference from the others? In general, they're all described as simple and lightweight.
Its a difficulty question to answer if we dont know what you are looking for. Electrum and Multibit HD are both HD wallets, so its easy to create a backup. Electrum allows some more advanced features like exporting and importing (extra file) private keys, while Multibit HD is aimed more at beginners. Multibit HD's wallet files are better protected against brute force attacks, which can be mitigated by using a longer password if you prefer electrum. I can say almost nothing about Bither, I only used it once in a VM to create a "how to sign a message" tutorial. It looked fine, but I never used it with coins. I have never used GreenAddress, Copay and BitGo. I would not consider mSIGNA a light wallet, because it needs a full node to run. That node can be externally, but thats usually not a good idea. Its been a while since I used it and I found it overly complex. |
Im not really here, its just your imagination.
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st0nefish (OP)
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January 02, 2017, 08:55:59 PM |
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As a beginner I decided to use Multibit HD because it provides both ease of use and more comprehensive security. thanks for the answer.
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deadsilent
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January 02, 2017, 11:51:27 PM |
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You dont want web wallets? Then use mycellium and electrum. These two are the best for me. I use these for a long time and did not encountered any problems. You dont have to worry about losing your btc. Because you are the only one who has the access to your private keys.
Its also indeed online wallets are not safe. They suspends accounts which is bad because they taking your money.
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GMPoison
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January 03, 2017, 12:02:07 AM |
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If you're unsure of which wallet to use, and for which purpose, maybe I can help you out by giving my 2c on how people should handle their coins. Anyone else please feel free to critique.
1. One wallet for buying/selling bitcoin. This wallet is never used to store bitcoin as you're trusting a third party with them, only as a mediator for buying and selling your coins. This wallet should be located on an exchange for bitcoin. This is your "exchange" wallet.
2. One wallet for spending bitcoin. This wallet you will treat like your wallet that you keep cash in. You only keep enough money in it that you wouldn't mind losing, your spending cash. This wallet can be located on an online wallet, exchange, paper wallet, mobile wallet (I would most recommended), and hardware wallet. This is your "hot" wallet.
3. One wallet for storing your bitcoin. This wallet will be treated as your "savings account" or "investment account", only ever depositing funds but never unless under extreme circumstances withdrawing funds. This wallet can be a hardware wallet, or multiple multisig paper wallets in various safe physical locations (I would most recommend). This is your "cold" wallet.
That's what I feel is the most optimal, safe, and convenient way to store your coins, let me know what you all think.
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Coding Enthusiast
Legendary
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Activity: 1039
Merit: 2783
Bitcoin and C♯ Enthusiast
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January 03, 2017, 06:31:59 AM |
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Mastsetad
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January 03, 2017, 07:07:32 AM |
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Hello,
I'm researching bitcoin wallets, but I still haven't decided. Online wallets are said to be unsafe. I'm thinking of using one of the desktop wallet software. Which wallet you recommend is easy to use.
Though desktop wallets are better, but online wallets are not that much unsafe as people would tell you, you can keep some funds in them without any problem as long as you are not willing to hold them for long and they are not too much like more than 0.5btc as that is around $500 now a days, so you can keep your daily transacting bitcoins in an online wallet too. Blockchain can be the best for that. |
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btcdevil
Legendary
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Merit: 1027
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January 03, 2017, 12:31:16 PM |
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In the above comments Shorena have explained you clearly about most of the wallets but even then i can give my own experience of using electrum desktop wallet which is more secure and light weight, in this the most important thing to keep secure is the passphrase key , because with this key you can regenerate you old wallet anywhere and anytime even if you lose the wallet.dat file. As with this passphrase key you can download the software from anywhere and go for backup key and insert the passphrase and your old wallet is regenerated with all the coins stored in it with addresss safely.
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Roselop
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January 03, 2017, 12:43:36 PM |
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I'm using a desktop wallet of bitcoin core version 0.13.1 . it's very good for me .
this wallet is easy to use and very safe to store and transfer bitcoins to anywhere.
you should encrypte your wallet pass and creat your own private key for security.
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mrbigmugs
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January 03, 2017, 07:15:08 PM |
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I'm using a desktop wallet of bitcoin core version 0.13.1 . it's very good for me .
this wallet is easy to use and very safe to store and transfer bitcoins to anywhere.
you should encrypte your wallet pass and creat your own private key for security.
i personally have no experience of such things and that is the reason that i mostly use the online wallet i like to learn about it that how can i use a dsktop wallt if some one can give me some idea about that. |
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GMPoison
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January 03, 2017, 07:40:33 PM |
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Good chart but is there really any advantage to a hardware wallet over encrypted multisig paper wallets for cold storage? I suppose you don't need to have a bunch of paper wallets in different locations so it makes life easier, but when I talk about "cold storage", I don't want life to be a little easier to access the coins, you know? |
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coinspacewallet
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Activity: 29
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January 03, 2017, 07:44:12 PM |
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For small amounts and day to day use Web Wallets are fine, to store your funds a hardware wallet would be better.
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Cereberus
Legendary
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Activity: 910
Merit: 1000
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January 03, 2017, 08:40:38 PM |
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Good chart but is there really any advantage to a hardware wallet over encrypted multisig paper wallets for cold storage? I suppose you don't need to have a bunch of paper wallets in different locations so it makes life easier, but when I talk about "cold storage", I don't want life to be a little easier to access the coins, you know? Not much except easier mobility if you choose a Ledger Nano or Ledger HW.1 hardware wallet. All you need is your pin, a PC with google chrome and your security card with you in order to use it whenever you have a PC available. Other than this advantage I don't know over multisig paper wallets cold storage. |
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moneytalk69
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Activity: 98
Merit: 10
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January 03, 2017, 09:05:48 PM |
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Use the default one with encryption. Wallet its the most safe so far  |
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Velkro
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Activity: 2296
Merit: 1014
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January 03, 2017, 09:46:23 PM |
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Hello,
I'm researching bitcoin wallets, but I still haven't decided. Online wallets are said to be unsafe. I'm thinking of using one of the desktop wallet software. Which wallet you recommend is easy to use.
They are unsafe. With software wallet you control your coins. I would recommend bitcoin core (nowadays is fast enough to use day to day basis), multibit (SPV wallet very very fast) or electrum which is third party server based so there are privacy concers but aside from that its good. |
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Coding Enthusiast
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Activity: 1039
Merit: 2783
Bitcoin and C♯ Enthusiast
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January 04, 2017, 05:54:41 AM |
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♯
Good chart but is there really any advantage to a hardware wallet over encrypted multisig paper wallets for cold storage? I suppose you don't need to have a bunch of paper wallets in different locations so it makes life easier, but when I talk about "cold storage", I don't want life to be a little easier to access the coins, you know?
Paper wallet: - Free!
- Easier to hide and less risk of being stolen (nobody steals a piece of paper buried among many other useless papers but they will steal a nice looking hardware wallet)
- Spending it is a bit hard (or easy! you can download an SPV wallet, sweep and spend)
- Making it is not easy.
Hardware wallet: - Not free and even expensive.
- I'd say it is harder to hide than your encrypted private key on a piece of paper
- Easier to spend from
- You are trusting a third party to give you a bug-free and safe enough tool
- Risk of hardware failure. like any other hardware it can fail too.
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firebird2490
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January 04, 2017, 09:45:50 AM |
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Hello,
I'm researching bitcoin wallets, but I still haven't decided. Online wallets are said to be unsafe. I'm thinking of using one of the desktop wallet software. Which wallet you recommend is easy to use.
If you wanna use desktop wallet use Multibit HD Desktop Wallet or Copay Chrome App. Reason to recommend you this wallet is because both supports Trezor which the most secured Hardware Wallet for Bitcoin. |
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