Newbie question -_- bitcoin download

[Cirus]

hi im new here , what's the difference between software,mobile and web wallets? because im confused on which i should download. thank you in advance guys...

[HenryRomp]

hi im new here , what's the difference between software,mobile and web wallets? because im confused on which i should download. thank you in advance guys...

In a few words:

Software wallets (like BitcoinQT) generally involve downloading the blockchain and are a bit harder to use and understand, but are ultimately safest because you alone are controlling your coins. I wouldn't recommend them for a beginner but they have very important advantages to the others.

Mobile wallets I believe refer to wallets you can use from your cell phone; I don't use any of these so I'm not familiar with them.

Web wallets don't involve downloading anything at all, but ultimately you are not holding your own coins, somebody else is holding them for you, so you have to trust that the person/company running the web wallet won't run off with your coins (which has happened many times).

I recommend blockchain.info's web wallet for any small (say under $200USD equivalent) amount of bitcoin, but I recommend reading a lot more and doing your own research before choosing a wallet, web or otherwise; it's up to you to decide who you trust.

[glungnahund]

You can store your coins either online with the disadvantage they may be stolen if the respective web server is hacked or you can store them directly at your computer/cell phone etc. Third alternative would be to print the coins/keys ("cold wallet").

I´d recommend to use a wallet directly on your computer, e.g. bitcoinqt. However bitcoinqt downloads the whole blockchain (a list of all transactions ever made). Thats about 10GB. Therefore, I use electrum, which is also a wallet that stores your coins on your computer but does not download the blockchain.

http://electrum.org/

[Cirus]

hi im new here , what's the difference between software,mobile and web wallets? because im confused on which i should download. thank you in advance guys...

In a few words:

Software wallets (like BitcoinQT) generally involve downloading the blockchain and are a bit harder to use and understand, but are ultimately safest because you alone are controlling your coins. I wouldn't recommend them for a beginner but they have very important advantages to the others.

Mobile wallets I believe refer to wallets you can use from your cell phone; I don't use any of these so I'm not familiar with them.

Web wallets don't involve downloading anything at all, but ultimately you are not holding your own coins, somebody else is holding them for you, so you have to trust that the person/company running the web wallet won't run off with your coins (which has happened many times).

I recommend blockchain.info's web wallet for any small (say under $200USD equivalent) amount of bitcoin, but I recommend reading a lot more and doing your own research before choosing a wallet, web or otherwise; it's up to you to decide who you trust.

weee.. thank you for this, ive learn so many things about bitcoin wallets...and i knew now what blockchain means xD ... thank you!

[Cirus]

You can store your coins either online with the disadvantage they may be stolen if the respective web server is hacked or you can store them directly at your computer/cell phone etc. Third alternative would be to print the coins/keys ("cold wallet").

I´d recommend to use a wallet directly on your computer, e.g. bitcoinqt. However bitcoinqt downloads the whole blockchain (a list of all transactions ever made). Thats about 10GB. Therefore, I use electrum, which is also a wallet that stores your coins on your computer but does not download the blockchain.

http://electrum.org/

thank you so much sir, im trying that electrum ... ^_^

[choicatn]

In my opinion, I would go with the original bit coin-qt wallet for the most safe/stable one out there

[Harriet82]

hi im new here , what's the difference between software,mobile and web wallets? because im confused on which i should download. thank you in advance guys...

In a few words:

Software wallets (like BitcoinQT) generally involve downloading the blockchain and are a bit harder to use and understand, but are ultimately safest because you alone are controlling your coins. I wouldn't recommend them for a beginner but they have very important advantages to the others.

Mobile wallets I believe refer to wallets you can use from your cell phone; I don't use any of these so I'm not familiar with them.

Web wallets don't involve downloading anything at all, but ultimately you are not holding your own coins, somebody else is holding them for you, so you have to trust that the person/company running the web wallet won't run off with your coins (which has happened many times).

I recommend blockchain.info's web wallet for any small (say under $200USD equivalent) amount of bitcoin, but I recommend reading a lot more and doing your own research before choosing a wallet, web or otherwise; it's up to you to decide who you trust.

Hello there, thanks a lot for this post it helped me out an awful lot. I have on quick question though, would you recommend using web wallets (are they generally regarded as being totally safe?). Thank you

[btcbonanza]

Local software based wallets are for sure the safest, although I've had a lot of success using the blockchain.info wallet.  Lots of ways to secure it, 2 factor auth, via your cell phone, etc.   If you are diligent and don't use easily identifiable passwords, you'll be largely secure.

[DannyHamilton]

Hello there, thanks a lot for this post it helped me out an awful lot. I have on quick question though, would you recommend using web wallets (are they generally regarded as being totally safe?). Thank you

"Web" wallets, such as MtGox, Coinbase, localbitcoins, etc. where you do not have control over your private keys are definitely NOT safe.

blockchain.info is a "hybrid" wallet.  As long as you use a sufficiently secure password, I would consider it to be nearly as safe as any "lightweight" local software wallet (such as Electrum or MultiBit).  In some ways it might even be considered safer (depending on how good you are about backing up your wallet and protecting your private keys from destruction).

[Cirus]

thank you for your replies guys! can i ask 1 thing? i know in order to send a bitcoin to someone you'll need his/her bitcoin address? where do i find mine? thanks in advance!

[coinprize]

thank you for your replies guys! can i ask 1 thing? i know in order to send a bitcoin to someone you'll need his/her bitcoin address? where do i find mine? thanks in advance!

If you use bitcoin qt,
your new wallet will have a original address.
And you can create your own.

You can find it on its interface,
you won't miss it. 

[DannyHamilton]

thank you for your replies guys! can i ask 1 thing? i know in order to send a bitcoin to someone you'll need his/her bitcoin address? where do i find mine? thanks in advance!

It will really depend on which wallet you choose to use.  Each wallet has it's own method of generating and diplaying bitcoin addresses for you.  Please be aware, bitcoin addresses are not "account numbers".  It isn't like a bank account where you only have one (or a few) "accounts".

Many people choose to use a new bitcoin address EVERY time they receive bitcoins.  Most wallets make this fast and easy.  You just click the "New Address" button, create a label for the address, and just like that you have an address you can give someone to send bitcoins to you.  One of the many great things about this method is that you now know exactly who sent you how much bitcoin and when, since you only gave the address to one person and the transaction to that address is permanently viewable in the blockchain.

[BTC-UK]

Use an offline wallet and always keep a paper backup just incase!

[jadair10]

An issue with web based wallets are also that the website could be taken down by the government where that website is hosted or even the website decides not to conduct business anymore in the country you live. Hypothetically, what if Mt.Gox were to block all requests originating from the US because Mt.Gox got fed up with the US Government for seizing their Dwolla account...

[Scorpia]

I currently use the standard software bitcoin-qt wallet. is there a way for It to use less disk space?

I think the current chain I have is either almost 10+gb in size. (sorry cant confirm as on not near the machine.)

or can I at least move the chain off my SSd to another drive? maybe the best thing is different software?

[DannyHamilton]

I currently use the standard software bitcoin-qt wallet. is there a way for It to use less disk space?

No.

or can I at least move the chain off my SSd to another drive?

Yes.

maybe the best thing is different software?

If you don't have the resources to be running a full client like Bitcoin-Qt, perhaps you should consider one of the lightweight wallets such as Electrum, MultiBit, or https://blockchain.info/wallet.

[stimmy33]

Hey all, I am kinda confused as to how and where to buy my bitcoin, I notice that most sites that sell btc  have a 2 factor authorisation  and I do not have smart phone, iphone, or any other phone that will perform 2 factor autho      does anybdy have any ideas that might help me with this problem
Regards  s

[DannyHamilton]

Hey all, I am kinda confused as to how and where to buy my bitcoin, I notice that most sites that sell btc  have a 2 factor authorisation  and I do not have smart phone, iphone, or any other phone that will perform 2 factor autho      does anybdy have any ideas that might help me with this problem
Regards  s

Localbitcoins.com

[Cirus]

since i dont know how to multi "quote" your comment guys without double posting it, ( i dont know how to -_- )

@Coinprize - sir,i've downloaded and use electrum, 'cause i've read about bitcoin qt, and its too hard for me to download it, coz 1st i dont have much time -_- and 2nd,our internet connection sucks,...thank you for you reply sir

@Danny Hamilton - sir i downloaded and installed Electrum since it is so light thanks for your reply sir!


@BTC-Uk - yes sir! i think electrum is safe ^^ thank you for your reply sir!

@ Jadair10 - yes thats right, ive already read about that, thanks!

@Apache - Thank you! very informative!

Well guys? are these my addresses?

https://i.imgur.com/RdCcyPg.png


thanks!

[nobbynobbynoob]

Yes, those look like your receiving addresses.