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Author Topic: 3rd party bitcoin wallet which we can own the key  (Read 738 times)
redwine49
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December 05, 2017, 06:42:41 PM
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hello.... iam still newbie and want to know more about bitcoin.
anyone know something about 3rd party bitcoin wallet which we can own private key?
if we want to install bitcoin hardware wallet into cpu or notebook.
how many space do we need? and how much volume data do we need to download?

thanks for someone who has knowledge about that
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DannyHamilton
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December 05, 2017, 07:47:30 PM
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anyone know something about 3rd party bitcoin wallet which we can own private key?

ALL bitcoin wallets are third party wallets.

There is no official Bitcoin Company that creates a bitcoin wallet.  There is no official Bitcoin Standards organization that determines which wallets you should use.

if we want to install bitcoin hardware wallet into cpu or notebook.
how many space do we need?

I assume you are asking about non-volitile storage such as hard drive or SSD?  In that case it will depend on which wallet you choose to use and how you choose to configure it.

and how much volume data do we need to download?

That will depend on which wallet you choose to use.


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December 05, 2017, 08:07:33 PM
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anyone know something about 3rd party bitcoin wallet which we can own private key?

Many people on this forum will suggest Blockchain.info, but I don’t trust wallets where I don’t control the software that signs my transactions. MITM attacks, malicious JS/browser attacks are possible.

Electrum is a great open-source lightweight client. It’s not a full node, but you can connect to a server that runs the client that you prefer (eg Core 0.15.1). You control the software and private keys, and it uses very little system resources or bandwidth.

if we want to install bitcoin hardware wallet into cpu or notebook.
how many space do we need? and how much volume data do we need to download?

I’m assuming you mean software wallets. Hardware wallets are external devices that can be plugged into PCs. As mentioned above, Electrum requires little space. I’m not at home to check the directory but it should be well under 100MB.

A full node like Bitcoin Core downloads the full blockchain in addition to storing other data. The blockchain alone is approaching 150GB as seen here: https://blockchain.info/charts/blocks-size If you have limited bandwidth, you may need to change settings to listen=0 or blocksonly, or otherwise throttle bandwidth. If storage space is an issue, the node can be pruned as well.

But for a newbie, I suggest Electrum, for the sake of UI in the context of limited knowledge....

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December 06, 2017, 03:26:50 AM
 #4

As a newbie, you must rely on easy-access wallets that will handle the transactions for you, give you the recommended fee and hold your funds. Like coinbase or coins depending on your area.

But since you need the private key for safekeeping, you can use blockchain.info at the moment.

Learn everything you need and when you're confident with your knowledge, start using Electum Wallet.

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December 06, 2017, 06:39:18 AM
 #5

Ledger Nano S is a common hardware wallet, hardware is the safest for store crypto
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December 06, 2017, 01:09:11 PM
 #6

Quote
anyone know something about 3rd party bitcoin wallet which we can own private key?
All the wallets out there are 3rd party wallets since Bitcoin itself is a decentralized currency. There are many reliable wallets which lets you control your wallet's private key such as Mycelium, Electrum, Exodus etc... I recommend Mycelium and Electrum and you will know why when you use them.
Quote
if we want to install bitcoin hardware wallet into cpu or notebook.
how many space do we need? and how much volume data do we need to download?
I don't think it is possible to download any hardware wallet's software into PC or another USB. The alternative for this is that you could create a paper wallet and then store it in any USB drive Tongue

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December 06, 2017, 07:07:02 PM
 #7

hello.... iam still newbie and want to know more about bitcoin.
anyone know something about 3rd party bitcoin wallet which we can own private key?
if we want to install bitcoin hardware wallet into cpu or notebook.
how many space do we need? and how much volume data do we need to download?

thanks for someone who has knowledge about that

Your notion of a third party wallet is quite unclear. Commonly we call the exchanges which do not provide with private key as third party wallets because they act as a third party between two transactors. But here if you mean wallet other than the bitcoin core and want a wallet of which you can hold keys of then Electrum would be a good choice to install on your cpu. Quite low amount of space is needed just enough to get your seed file placed in.


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redwine49
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December 07, 2017, 12:03:49 AM
 #8

But for a newbie, I suggest Electrum, for the sake of UI in the context of limited knowledge....
Learn everything you need and when you're confident with your knowledge, start using Electum Wallet.
But here if you mean wallet other than the bitcoin core and want a wallet of which you can hold keys of then Electrum would be a good choice to install on your cpu. Quite low amount of space is needed just enough to get your seed file placed in.

thanks all for your sharing and suggestion. i will try electrum. but there is a problem when i search it on google.
1st hit is https://www.electrumsource.org(google ads) and then https://electrum.org
2 domain with exacly same inside Huh it's weird why they do that?

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December 07, 2017, 03:51:26 AM
 #9

But since you need the private key for safekeeping, you can use blockchain.info at the moment.

Learn everything you need and when you're confident with your knowledge, start using Electum Wallet.
No. Blockchain.info is terrible. How hard is it to use Electrum? It isn't rocket science, honestly.

thanks all for your sharing and suggestion. i will try electrum. but there is a problem when i search it on google.
1st hit is https://www.electrumsource.org(google ads) and then https://electrum.org
2 domain with exacly same inside Huh it's weird why they do that?
Electrum.org. The other domain is NOT owned by Electrum. If you use that, you will potentially be downloading a malicious software.

Use this: https://electrum.org/#download.

redwine49
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December 08, 2017, 11:11:53 AM
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thanks all for your sharing and suggestion. i will try electrum. but there is a problem when i search it on google.
1st hit is https://www.electrumsource.org(google ads) and then https://electrum.org
2 domain with exacly same inside Huh it's weird why they do that?
Electrum.org. The other domain is NOT owned by Electrum. If you use that, you will potentially be downloading a malicious software.

Use this: https://electrum.org/#download.

thanks Smiley. do they have something that we can backup our wallet?
just in case when iam losing all data on my computer
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December 08, 2017, 11:55:56 AM
 #11

do they have something that we can backup our wallet?
just in case when iam losing all data on my computer

You will be prompted to write down a 12-word seed. This seed is used to generate all of the addresses (private and public keys) of your wallet.
This seed should be definetly stored safely. If someone has access to this seed, he has access to your coins.
You will be able to recover your coins in any other BIP39 compatible wallet with this seed.

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December 08, 2017, 02:33:00 PM
 #12

hello.... i am still newbie and want to know more about bitcoin.
anyone know something about 3rd party bitcoin wallet which we can own private key?

Wallets are always made by third parties unless you are planning to develop your very own wallet. These can range from bitcoin core wallet to electrum wallet for PC and mycelium wallet for Android. You can hold private keys of these wallets and these private keys will be your access keys to these treasures. I have made this answer considering that by third party you don't mean wallets like coin base and coindesk because you obviously can't hold keys to these wallets.
Quote

if we want to install bitcoin hardware wallet into cpu or notebook.
how many space do we need? and how much volume data do we need to download?

thanks for someone who has knowledge about that
If you want to install bitcoin hardware wallets like trezor wallet then you just need to plug them in and run the appropiate GUI the wallet seed will be stored in the device itself. But from your details I think you are mistaken between hardware wallet and software wallet. You can easily install any wallet by seeding it into your permanent memory. All you need to remember is the private key. These wallets usually don't require much space not even 40-50 MB because they don't really have an exciting GUI. But first time synchronization with the blockchain network might take a lot of time.
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December 09, 2017, 07:24:21 PM
 #13

I will juggest you to use GreenAddress wallet, they support segwit (fast and low fee) and you will have 100% control of your private key as well

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redwine49
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December 10, 2017, 12:01:29 PM
 #14

But first time synchronization with the blockchain network might take a lot of time.

take alot of time? its mean i need alot of bandwidth data?
i've tried to install ethereum wallet from https://www.ethereum.org/
it took more than 7days to download all block and wasting alot of my bandwidth everytime i need to open my wallet
and finally i just use myethereumwallet.
so do i have to go just like that?
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December 10, 2017, 01:43:13 PM
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take alot of time? its mean i need alot of bandwidth data?
i've tried to install ethereum wallet from https://www.ethereum.org/
it took more than 7days to download all block and wasting alot of my bandwidth everytime i need to open my wallet
and finally i just use myethereumwallet.
so do i have to go just like that?
If its Bitcoin Core, then yes. Its a full node and it verifies and download all the blocks.

Electrum is good enough for most people and its pretty good for most use.

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December 10, 2017, 01:44:41 PM
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But first time synchronization with the blockchain network might take a lot of time.

take alot of time? its mean i need alot of bandwidth data?
i've tried to install ethereum wallet from https://www.ethereum.org/
it took more than 7days to download all block and wasting alot of my bandwidth everytime i need to open my wallet
and finally i just use myethereumwallet.
so do i have to go just like that?

If you are going to download a full node, then yes. The current size of the blockchain is about 150+ GB. And the verification takes quite some time.
But you could also instead just download a light weight client (without the whole blockchain). Those clients check the balance of your addresses via online services.
Like other already mentioned Electrum (https://electrum.org/#download) would be a good open-source light weight wallet. Download, install, start. No much hassle.

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December 11, 2017, 07:57:28 PM
 #17

But first time synchronization with the blockchain network might take a lot of time.

take alot of time? its mean i need alot of bandwidth data?
i've tried to install ethereum wallet from https://www.ethereum.org/
it took more than 7days to download all block and wasting alot of my bandwidth everytime i need to open my wallet
and finally i just use myethereumwallet.
so do i have to go just like that?

If you are going to download a full node, then yes. The current size of the blockchain is about 150+ GB. And the verification takes quite some time.
But you could also instead just download a light weight client (without the whole blockchain). Those clients check the balance of your addresses via online services.
Like other already mentioned Electrum (https://electrum.org/#download) would be a good open-source light weight wallet. Download, install, start. No much hassle.
Thanks for the tip. Will check their wallet
redwine49
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December 13, 2017, 11:04:38 PM
 #18

But first time synchronization with the blockchain network might take a lot of time.

take alot of time? its mean i need alot of bandwidth data?
i've tried to install ethereum wallet from https://www.ethereum.org/
it took more than 7days to download all block and wasting alot of my bandwidth everytime i need to open my wallet
and finally i just use myethereumwallet.
so do i have to go just like that?

If you are going to download a full node, then yes. The current size of the blockchain is about 150+ GB. And the verification takes quite some time.
But you could also instead just download a light weight client (without the whole blockchain). Those clients check the balance of your addresses via online services.
Like other already mentioned Electrum (https://electrum.org/#download) would be a good open-source light weight wallet. Download, install, start. No much hassle.

150+ GB?? well, thats alot of volume.
you mean a light weight electrum client wallet??
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