how to choose a high secured wallet ??

[logic123]

yeah i agree with you, there are many wallets for securing coins but i recommended guys use hardware wallets they are very secure for sure.

[eagle123]

Hardware wallets and offline wallets like paper wallets are typically secured.  But you also need to take personal responsibility to safeguard your wallets.  

how can i take personal responsibilty ?? how can i secure my wallet

That is generally a matter of exercising "crypto common sense":

- If you have a hardware wallet... write the seed mnemonic (12/24 words) down on paper and store it safely and securely OFFLINE... consider fireproof safe etc (or use something like cryptosteel to protect it from water/fire).
- NEVER put your Hardware Wallet seed mnemonic into any computer or other wallet unless you are attempting a wallet recovery after hardware device has been lost/stolen/destroyed etc.
- NEVER give private keys or seed mnemonics to ANYONE... EVER.
- If you have paper wallet, consider using special paper/ink to protect from fading, water damage... and again, fireproof safe to protect.
- Make sure any paper wallets are generated "properly", that is to say "securely"... on offline computer using proper "random number generators" (dice method or proven offline paper wallet generator etc).
- Learn to use paper wallets properly... practice with small amounts until you are comfortable with creating and spending them. (ie. how to deal with "change", and sweeping/importing them into other wallets etc)
- If using desktop wallets, ensure computer is used properly (avoid dodgy websites, don't download pirated software/porn etc, use antivirus/antimalware, don't install random software etc)...
- Don't use web wallets/exchanges for "long term storage"... remember, no control/access of private keys... no control of coins.

well it's very good information...!! very helpfull

[fly99]

The wallet is basically useless to me. Unless I want to transfer money or buy items in cryptocurrency, I think it would be safer to deposit money into the exchange. Large exchanges are very safe, so the use of wallets is only for whales. Ordinary investors have little demand for wallets.

[bob123]

The wallet is basically useless to me. Unless I want to transfer money or buy items in cryptocurrency

You mean.. what crytocurrencies (especially bitcoin) initially were made for (before all the money-grab scams existed) ?

I think it would be safer to deposit money into the exchange.

You are wrong.

Trusting 3rd parties to secure your coins is the WORST you can do security-wise.

Large exchanges are very safe, so the use of wallets is only for whales. Ordinary investors have little demand for wallets.

Wrong again.

Even large exchanges have vulnerabilities (already proven extremely often).

If you want to trust a 3rd party your coins (which can do whatever they want with it) AND want to pass on the security of your coins, go for storing them on an exchange.

For everyone else (who wants to have his/her coins secured AND wants to keep full control over the coins), real wallets are the only way to go.

[DdmrDdmr]

<...>

Not really. Exchanges are safe until they are not: MtGox, BitFloor, Polinex, Bitstamp, Bitfinex, Coincheck, Bitgrail, Coinrail, Bithumb, Bancor, etc. All these has a hack at some point that caused important loses or even the exchange to close down. The truth is, if you do not control your private keys (in your own wallet), you do not have complete control over your assets.  

Of course one could argue that he is not good at keeping things safe, and trusts exchanges for this matter, and more often than not the exchange will be safe enough.. but not infallible.

In addition, some operational actions cannot be performed typically from your accounts on an exchange, such as participating in ICO. Also exchanges can at some point be intervened by law, placing your assets under scrutiny and being locked for the time being.

[fly99]

The wallet is basically useless to me. Unless I want to transfer money or buy items in cryptocurrency

You mean.. what crytocurrencies (especially bitcoin) initially were made for (before all the money-grab scams existed) ?

I think it would be safer to deposit money into the exchange.

You are wrong.

Trusting 3rd parties to secure your coins is the WORST you can do security-wise.

Large exchanges are very safe, so the use of wallets is only for whales. Ordinary investors have little demand for wallets.

Wrong again.

Even large exchanges have vulnerabilities (already proven extremely often).

If you want to trust a 3rd party your coins (which can do whatever they want with it) AND want to pass on the security of your coins, go for storing them on an exchange.

For everyone else (who wants to have his/her coins secured AND wants to keep full control over the coins), real wallets are the only way to go.

Thank you for your suggestion. I just think that the wallet is not convenient and it is more convenient to store the coins on the exchange.
I will try to use the wallet instead of the exchange address, thank you!

[eagle123]

The wallet is basically useless to me. Unless I want to transfer money or buy items in cryptocurrency, I think it would be safer to deposit money into the exchange. Large exchanges are very safe, so the use of wallets is only for whales. Ordinary investors have little demand for wallets.

how can you stay without wallet in crypto world ?? i can't understand your words

[AdolfinWolf]

Thank you for your suggestion. I just think that the wallet is not convenient and it is more convenient to store the coins on the exchange.
I will try to use the wallet instead of the exchange address, thank you!

"The Wallet" -- ?

What wallet have you used that was so inconvenient? I'm guessing it was Bitcoin Core? If so why exactly? Long download times? If that's the case, maybe use an SPV such as Electrum. https://electrum.org/#home

I can't really think of a scenario nowadays where an exchange would be more convenient than a wallet such as Electrum.
You're simply missing so many features and are so dependant on the exchange in comparison. (RBF, height of fees, change adresses, et al)

[eagle123]

Thank you for your suggestion. I just think that the wallet is not convenient and it is more convenient to store the coins on the exchange.
I will try to use the wallet instead of the exchange address, thank you!

"The Wallet" -- ?

What wallet have you used that was so inconvenient? I'm guessing it was Bitcoin Core? If so why exactly? Long download times?

I can't really think of a scenario nowadays where an exchange would be more convenient than a wallet such as Electrum.
You're simply missing so many features and are so dependant on the exchange in comparison. (RBF, height of fees, change adresses, et al)

how can we say that ''exchange would be more convient than a wallet such as electrum.

[hugeblack]

Prevention is better than cure
The basic rule of cryptocurrency is to transfer trust from platforms to you, you are the guarantor of coins and not the accounts on those platforms.
Therefore, you should move your coins from these platforms as soon as possible and use an open-source/trusted wallets.
All you have to do is protect your computer and use hardware wallets.

[HCP]

The wallet is basically useless to me. Unless I want to transfer money or buy items in cryptocurrency, I think it would be safer to deposit money into the exchange. Large exchanges are very safe, so the use of wallets is only for whales. Ordinary investors have little demand for wallets.

"Bro... do you even Crypto?"

"Likes crypto because he doesn't have to trust banks and traditional financial institutions with his money... gives all his money to completely unknown/mostly anonymous crypto exchanges who operate with pretty much zero regulatory oversight"

Remember, the catchphrase for cryptocurrency? "Be your own bank"... you can't do that if someone else has control of all your coins!

[eagle123]

You can use a desktop wallet if you think about safety. I am using Electrum wallet and everything is fine. You can download it from here https://electrum.org/#download

You can also use Blockchain wallet. I am using blockchain wallet for regular use. you can create a blockchain wallet from here https://blockchain.com

Both wallets are safe but you just need to know how to use a wallet and how to store your private key safe

what are the benefits of electrum wallet and blockchain wallet ??

[HCP]

About the only benefit that blockchain.com wallet has... is that it is "easy" and requires very little thought or responsibility. Personally, I would not recommend it. They've had a history of being very buggy. They have an "in wallet" coin exchange... albeit at very poor rates.

Electrum is a lightweight, "SPV" (Simple Payment Verification) wallet... as such, it is quick... doesn't require downloading the entire blockchain, so on disk storage requirements are very low. It offers a 12 word seed mnemonic based backup system (NOT BIP39 compatiable, but similar... it can restore a BIP39 compatible seed)... it has an active dev team that are always seeking to improve the app... it supports some of the more popular hardware wallets like Ledger and Trezor... it offers MultiSig functionality... it can be used in an offline/online (aka "airgapped") cold storage setup... it's multi platform (Windows, Linux, OSX and Android)... it supports pretty much every wallet address type... Legacy, P2SH SegWit and Native SegWit (bech32)... it offers a lot of flexibility and customisation of transaction fees, "coin control" features etc.

On the downside, you potentially give up some privacy as you have to connect to Electrum servers to request transaction info... also, the non BIP39 compatible backup could be problematic if you decide you want to use another app... AFAIK, no other wallets are compatible with Electrum seeds.

If you want my recommendation... Electrum.

[keychainX]

which one is very safe ( high secured) linux or windows ..?

both systems can be hacked if you use them unwisely. If you click on a spam link or install a javascript in your browser, it doesnt matter if you have linux or windows or osx (mac). Historically Mac's has been the most secure operating systems but to be true secure use a cold storage wallet like Nano Ledger or create a paper wallet.

Cryptocurrency is like real money, if you loose it, its very hard to claim it back.

[eagle123]

which one is very safe ( high secured) linux or windows ..?

both systems can be hacked if you use them unwisely. If you click on a spam link or install a javascript in your browser, it doesnt matter if you have linux or windows or osx (mac). Historically Mac's has been the most secure operating systems but to be true secure use a cold storage wallet like Nano Ledger or create a paper wallet.

Cryptocurrency is like real money, if you loose it, its very hard to claim it back.

if we unfortunately clicked on a spam link , what will happens

[keychainX]

which one is very safe ( high secured) linux or windows ..?

both systems can be hacked if you use them unwisely. If you click on a spam link or install a javascript in your browser, it doesnt matter if you have linux or windows or osx (mac). Historically Mac's has been the most secure operating systems but to be true secure use a cold storage wallet like Nano Ledger or create a paper wallet.

Cryptocurrency is like real money, if you loose it, its very hard to claim it back.

if we unfortunately clicked on a spam link , what will happens

Several things can theoretically happen

1) A keylogger can be installed and read all your keypresses
2) A javascript can be launched, which might steal your login credentials
3) A malicious software can be ran in background and wait for you to send cryptocurrency, it will try to change the receiver address
4) You can initiate a ransomware virus which will encrypt your drive and extort money from you

SO, just dont click on any link you have no idea where its from (even on telegram)

/KX

[eagle123]

which one is very safe ( high secured) linux or windows ..?

both systems can be hacked if you use them unwisely. If you click on a spam link or install a javascript in your browser, it doesnt matter if you have linux or windows or osx (mac). Historically Mac's has been the most secure operating systems but to be true secure use a cold storage wallet like Nano Ledger or create a paper wallet.

Cryptocurrency is like real money, if you loose it, its very hard to claim it back.

if we unfortunately clicked on a spam link , what will happens

Several things can theoretically happen

1) A keylogger can be installed and read all your keypresses
2) A javascript can be launched, which might steal your login credentials
3) A malicious software can be ran in background and wait for you to send cryptocurrency, it will try to change the receiver address
4) You can initiate a ransomware virus which will encrypt your drive and extort money from you

SO, just dont click on any link you have no idea where its from (even on telegram)

/KX

well , thanks for the information..

[eagle123]

which one is very safe ( high secured) linux or windows ..?

both systems can be hacked if you use them unwisely. If you click on a spam link or install a javascript in your browser, it doesnt matter if you have linux or windows or osx (mac). Historically Mac's has been the most secure operating systems but to be true secure use a cold storage wallet like Nano Ledger or create a paper wallet.

Cryptocurrency is like real money, if you loose it, its very hard to claim it back.

if we unfortunately clicked on a spam link , what will happens

Several things can theoretically happen

1) A keylogger can be installed and read all your keypresses
2) A javascript can be launched, which might steal your login credentials
3) A malicious software can be ran in background and wait for you to send cryptocurrency, it will try to change the receiver address
4) You can initiate a ransomware virus which will encrypt your drive and extort money from you

SO, just dont click on any link you have no idea where its from (even on telegram)

/KX

well , thanks for the information..

if we clicked a link in any one social media , is there will be any chances to hack our wallet ??

[bob123]

if we clicked a link in any one social media , is there will be any chances to hack our wallet ??

Depends on your wallet.

Hardware wallet: No.
Software wallet: Yes.
Web wallet: Yes.


Clicking on unknown links can be quite dangerous. Especially if you don't run the latest version of your browser/OS/AV etc..

The most dangerous thing which can happen is that visiting the site initiates a drive-by-download. This will compromise your system.
And if your system is compromised, any software running on it is compromised.

The only way a wallet would not be compromised is either (1) its a hardware wallet or (2) your wallet file is encrypted (e.g. electrum/core password) AND you don't open the wallet while your PC is compromised.

The probability of your web wallet being compromised is very high by visiting a malicious website.

[keychainX]

which one is very safe ( high secured) linux or windows ..?

both systems can be hacked if you use them unwisely. If you click on a spam link or install a javascript in your browser, it doesnt matter if you have linux or windows or osx (mac). Historically Mac's has been the most secure operating systems but to be true secure use a cold storage wallet like Nano Ledger or create a paper wallet.

Cryptocurrency is like real money, if you loose it, its very hard to claim it back.

if we unfortunately clicked on a spam link , what will happens

Several things can theoretically happen

1) A keylogger can be installed and read all your keypresses
2) A javascript can be launched, which might steal your login credentials
3) A malicious software can be ran in background and wait for you to send cryptocurrency, it will try to change the receiver address
4) You can initiate a ransomware virus which will encrypt your drive and extort money from you

SO, just dont click on any link you have no idea where its from (even on telegram)

/KX

well , thanks for the information..

if we clicked a link in any one social media , is there will be any chances to hack our wallet ??

If you click on a clipboard virus or scam code, it will change your destination address when you send funds. So it doesnt matter if you send from a hardware/software wallet, you still will need to enter a destination address which the code can change.

the worst clipboard hijacker controls over 2 million addys.

You can read more here:
https://www.bleepingcomputer.com/news/security/clipboard-hijacker-malware-monitors-23-million-bitcoin-addresses/

/KX