What is the most trusted bitcoin company?

[vycl87]

As I can understand from what you've said. Actually I think you're asking how can you keep you BTC (or any other cryptocurrencies) in safe.
But for that, you don't need any company if you want. There are more than one way to keep your crypto assets. We are calling them a "wallet".

There are some kind of wallets which you can hold your assets.

Paper Wallet: You can basically create a wallet and send your assets in it. (for example, you can visit https://www.bitaddress.org/)
Hardware Wallet: These are one of the safest ways of keeping your BTC's safe. Because it is so hard to reach assets without your personal information. You can look for Ledger or Trezor for hardware wallets.
Hot Wallets: These are basically can reach an internet connection. So usually seems untrustable ways. If your devices have some problems then your assets can be in danger. There are varieties such as mobile wallet, Desktop wallet and Web-Based Wallet. For example Bitcoin core is a desktop wallet, Trust wallet is a mobile wallet and Magnum wallet is a web-based wallet.

You can also find a lot of wallet option from here: https://bitcoin.org/en/choose-your-wallet?step=1

And how do I know that bitaddress.org doesn't store its private and public keys in database? What's the point of that site anyway?

You are fairly new to Bitcoin, so I would not suggest that you use Paper wallets as your primary storage option. Paper wallets generated with bitaddress.org is very secure, but you have to use it correctly or you will lose your coins. (Generating the paper wallets is not secure, if you do this online or if you use a computer that are re-connected after you created those wallets.)

Paper wallets is also not practical for daily use, but rather an option for people who wants to buy coins for long-term storage. You would be much better off downloading the desktop wallets like previously suggested by other users to access your coins. (eg. Electrum etc.)

Some people create an account with Crypto exchanges and use their wallets, but I would advise against doing that, because these exchanges are primary targets for hackers. (Only deposit coins there for trading and then transfer it to other wallets as suggested)  

https://www.bitaddress.org/ safe and it is open source. If you want to look at it please visit: https://github.com/pointbiz/bitaddress.org

So if you want, you can create a BTC wallet offline using these codes.

BTW, bitaddress is not only way to create a paper wallet. You can also use these ones;

*https://walletgenerator.net/
*https://bitcoinpaperwallet.com/
(Update: these options can not be safe anymore! Refer: https://bitcointalk.org/index.php?topic=5242711.msg54473516#msg54473516)

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[o_e_l_e_o]

BTW, bitaddress is not only way to create a paper wallet. You can also use these ones;

As I have explained in my post just above yours, both the sites you have listed there are known scams. They were both once open source and trusted sites, but have both been bought out by a malicious third party and turned in to scam sites. Unfortunately, because of their previous good reputation, lots of people still blindly use them without checking and end up losing their coins.

See this post (https://bitcointalk.org/index.php?topic=5247201.msg54444963#msg54444963) and the post by user bedla a few below it for a good explanation of the issues.

Just because a site was once open source/trustworthy/reputable/etc., doesn't mean it will always be. You should never be using a live site anyway, and if you are downloading a site to use (or any program or software, for that matter) you should be checking the source code of what you have downloaded, and not just assuming nothing malicious has happened since the last time you downloaded it.

[vycl87]

BTW, bitaddress is not only way to create a paper wallet. You can also use these ones;

As I have explained in my post just above yours, both the sites you have listed there are known scams. They were both once open source and trusted sites, but have both been bought out by a malicious third party and turned in to scam sites. Unfortunately, because of their previous good reputation, lots of people still blindly use them without checking and end up losing their coins.

See this post (https://bitcointalk.org/index.php?topic=5247201.msg54444963#msg54444963) and the post by user bedla a few below it for a good explanation of the issues.

Just because a site was once open source/trustworthy/reputable/etc., doesn't mean it will always be. You should never be using a live site anyway, and if you are downloading a site to use (or any program or software, for that matter) you should be checking the source code of what you have downloaded, and not just assuming nothing malicious has happened since the last time you downloaded it.

I am updating what I wrote in the previous post. I have never heard of this subject. Thank you for the correction.

Then the most reliable way for now might be to use a hardware wallet.
I would like to share with you a method of creating a paper wallet (with a Ledger).
In this method, you will need a Ledger device. However, you do not need to have Ledger in this method. It is enough to create a wallet with Ledger belonging to a friend you trust and reliably store the seed keys of this wallet. Then you can reset the device and return it to its owner. Your wallet, which you can always access with a Ledger device, is at hand.
I agree, it is not a practical method, but it is extremely reliable.

[bob123]

Then the most reliable way for now might be to use a hardware wallet.
I would like to share with you a method of creating a paper wallet (with a Ledger).
In this method, you will need a Ledger device. However, you do not need to have Ledger in this method. It is enough to create a wallet with Ledger belonging to a friend you trust and reliably store the seed keys of this wallet. Then you can reset the device and return it to its owner. Your wallet, which you can always access with a Ledger device, is at hand.
I agree, it is not a practical method, but it is extremely reliable.

I disagree.
Why should someone use a hardware wallet from a friend instead of simply using his computer ?
Using a device from a different person, again needs more trust.

If you trust your hardware (which you have to, otherwise you shouldn't use any IT devices), you can boot a live linux distro and use /dev/random to generate the entropy. Then use openssl to create your private- and public key as well as the address.
This requires less trust and is more handy.

[ChiBitCTy]

As a beginner in the world of cryptocurrency, I need some help here. I cannot download the entire blockchain so I cannot use bitcoin core for exchanging (and why should I...). So, have you any good choice of company that keeps your bitcoins safe?

Right now I have created a blockchain.com account. It seems legit. I want to read your replies, tho, for more securance.

You first off never want to leave your coins on an exchange or a "hot wallet".  A hot wallet is apps on your cell phone ( such as bread, or blockchain ).  Exchanges have been known to be hacked before as well as exchanges like Coinbase use a "moral" code of their own and have been known to lock up peoples funds.

The safest wallet is a paper wallet, but these are difficult for beginners to set up.  I would suggest buying either a Trezor or Ledger wallet.  These are quite easy to use.

[seagates]

If you are mean exchanges than binance and coinbase. But im not recommend to you to store money there. Its much safer to just hodl on your own non-custody wallet

[fiulpro]

First thing I would tell you  there is no such thing as Bitcoin Company .

It's the third party exchanges that people usually use to change their Bitcoins.

You should write down your country because I do think it would be good for you to use your national exchange, low fee , plus direct transfers to and from your bank account.

Therefore find some local one , most wallets do provide even exchange at a good price .

[AakZaki]

You first off never want to leave your coins on an exchange or a "hot wallet".  A hot wallet is apps on your cell phone ( such as bread, or blockchain ).  Exchanges have been known to be hacked before as well as exchanges like Coinbase use a "moral" code of their own and have been known to lock up peoples funds.

The safest wallet is a paper wallet, but these are difficult for beginners to set up.  I would suggest buying either a Trezor or Ledger wallet.  These are quite easy to use.

Purchasing a hardware wallet like Trezor, Ledge nano s and Keep Key can be a good choice, because I use it too. I am a Trezor Wallet user, safer compared to a wallet on a computer or cellphone. But for paper wallets I have never used it, paper wallets can be an option or alternative wallet that is safe and free, but the Private Key must be stored properly and not to be lost or damaged.

[pixie85]

If you are mean exchanges than binance and coinbase. But im not recommend to you to store money there. Its much safer to just hodl on your own non-custody wallet

Binance and coinbase are for sure not the most trusted Bitcoin companies!

I don't understand why you point them out and then say you don't recommend them. So are they trusted or not?

I'd trust Trezor and Ledger. Their products can be trusted and there were no signs of ill will from them. Using them is probably the second safest way of storing your coins right next to an offline cold wallet.

[o_e_l_e_o]

Why should someone use a hardware wallet from a friend instead of simply using his computer ?

Ease and accessibility. The vast majority of people have zero experience or knowledge regarding booting from a live OS, using linux, using command lines, etc. Saying that people should just use OpenSSL is glossing over the fact that the majority of people have no idea how to even tell their computer to boot from a USB stick rather than from the hard drive. It might be more handy for you, but it certainly isn't handy for the person who has to spend hours searching the internet for instructions for every single step. Plugging in a hardware wallet and having it spit out a seed in 3 minutes is far more handy for these people.

It's the same scenario as with an encrypted airgapped cold wallet. It's more secure than a hardware wallet, but it requires a degree of technical competence to set up and use correctly, and the majority of people are going to be more comfortable using a hardware wallet than spending hours figuring out how to set one up.

I know there are people who say "Well, everyone should just learn", but that's an unsatisfactory response. Bitcoin can't require the average person to spend hours or days to learn how to generate a wallet securely. It can't require everyone to be able to boot to linux or use a CLI. It need to be easily accessible, and hardware wallets achieve that while maintaining a very high level of security.

[MCobian]

In my opinion trusted bitcoin company or trusted exchanges to store bitcoin is coinbase, but blockchain.com is also included
trusted and has a good security system. I use coinbase for about 2 years, and have never experienced problems. Therefore
I recommend storing bitcoin on coinbase.

[o_e_l_e_o]

In my opinion trusted bitcoin company or trusted exchanges to store bitcoin is coinbase

What about all the people who have had problems with Coinbase? All the people who have had their accounts hacked? Or their coins confiscated? Or their accounts frozen? Or had their KYC details sold to third parties? Just because you have had no problems with a company yet, doesn't make them trusted.

but blockchain.com is also included trusted and has a good security system.

We have no idea what blockchain.com's security system is. They are entirely closed source and there have been no independent audits of their security set up, so to say they have a good security system is complete conjecture. They could store everyone's private keys in plain text on an unencrypted laptop which someone carries around to coffee shops - we have no idea.

The whole point is to not trust any third parties. Withdraw your coins to your own wallet, and store them yourself, instead of trusting complete strangers to hold your money for you. Don't trust, verify.

[Jonyshake71]

As a beginner in the world of cryptocurrency, I need some help here. I cannot download the entire blockchain so I cannot use bitcoin core for exchanging (and why should I...). So, have you any good choice of company that keeps your bitcoins safe?
Right now I have created a blockchain.com account. It seems legit. I want to read your replies, tho, for more securance.

If you have already created Blockchain account, then that's great but be careful about password and private key. If you lost them somehow or share them with anyone(ex: airdrop, give away etc) , may Cause you can lose your fund.

[partysaurus]

only online wallets i use is coinbase and i have for along time since i got into btc like 5 yearsago, and blockchain wallet. dont know if they can be 100% trusted nothing can be 100% but i trust them enough.

[lillobo]

The main reason for high bitcoin miner fees is supply and demand. Which means that miners can only confirm. However, there is a chance that the value of bitcoin could spike again in the near future, and those who buy when it is at its current value could stand to turn a profit. Bitcoin or other types of cryptocurrency, you'll have limited legal protection and a high risk of losing some or all of your capital.

[UserU]

What about all the people who have had problems with Coinbase? All the people who have had their accounts hacked? Or their coins confiscated? Or their accounts frozen? Or had their KYC details sold to third parties? Just because you have had no problems with a company yet, doesn't make them trusted.

We have no idea what blockchain.com's security system is. They are entirely closed source and there have been no independent audits of their security set up, so to say they have a good security system is complete conjecture. They could store everyone's private keys in plain text on an unencrypted laptop which someone carries around to coffee shops - we have no idea.

The whole point is to not trust any third parties. Withdraw your coins to your own wallet, and store them yourself, instead of trusting complete strangers to hold your money for you. Don't trust, verify.

I am one of the victims of Binance. Was pretty shocked when I found out it was compromised like some time after the incident.

Basically nothing online (as a service) is safe.

[GreenPanda]

the one you start yourself 

[RapTarX]

I would not recommend centralized wallets like blockchain.com

I guess we can't call it a centralize wallet. It shares you access of your fund to yourself like other wallets do; for instance, electrum. But blockchain is an web wallet and I wouldn't recommend anyone to use that as it's more prone to be hacked.

[kacperukz99]

    I think it is best to use a hardware wallet, because no software can be installed on this type of wallet, so these wallets are extremely secure and it is impossible to be hacked. Another very good option, but more complicated to use is paper wallet, but the one who opened this thread being a beginner, it is recommended to use a hardware wallet.

[hassancisse]

i am so sure youre talking about bitcoin wallet or where you can store bitcoins. The first most secured wallet i will advise is the hardware wallet, you can either get the Ledger Nano or Trezor wallet those are the two that i know. If you can get those two then i will advise you open an account on blockchain.info or you download Jaxx wallet on app store those are the two wallets i go started with when i got into crypto