Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly!

[bitampcom]

What's the best way to keep your crypto wallet hidden?

That’s actually something really important people forget to think about when using wallets, especially now that it’s really easy to pay with crypto in physical locations.

Doesn’t matter how secure your wallet is, if you use it in public, with all the attention on crypto now, thieves will immediately know you’re using a Trezor or Ledger out in the open.

Which is why hot wallets can be very useful here. A simple throwaway Electrum or Bitamp wallet can be accessed on the go, and discarded after use. Store your savings at home, use a hot wallet on mobile;)

[LittleBitFunny]

Want to be surprised? Actually a lot of people have Bitcoin just like this, not in any real type of wallet but residing on an account inside some app or company platform.
Paypal is one such “wallet”. You can own Bitcoin there, but can’t actually send it out or transfer it out. Only sell it.
What happens if PayPal decides to freeze your balance or lock you out?
Get a real Bitcoin wallet like Bitamp, Electrum or many other non-custodial types. You won’t regret it!

There is a common dialogue "Not your keys Not your coin",
Paypal just announce that they are adding Bitcoin on their wallet buy they prevent users to withdraw it and use it freely.
Paypal refused to give us private key, then it is confirm this so called coin is not Bitcoin anymore, it's just a numerous Number they showed on your account.
Paypal is not just a custodial wallet it is supper modified version of custodial wallet, they can Seized or freeze our funds without any reason.
One more thing there is a high risk of hacking issue, such type of custodial wallet can be gotten hacked at any time.

[bitampcom]

Quora requested us to answer this question: What are the best digital wallets for cryptocurrency?

We said:

It’s always down to your needs and requirements. If you want secure storage for crypto you won’t touch and just want to save, you want offline physical storage and hardware wallets like Trezor and Ledger.

If you want to buy coffee every day with crypto, send and spend daily and easily, you want a hot wallet that’s easy to access from mobile yet secure enough and non-custodial. Electrum and Bitamp are perfect for this.

[Stalker22]

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I think that's a satisfying answer.
The only thing I'd like to see is your official mobile app so there's no fear of threats associated to the web wallets when using the Bitamp Web Wallet.

A lot of people still use the Internet wrong by typing web addresses in google search instead in the address bar, and they don't even use bookmarks.

[notblox1]

If you want to buy coffee every day with crypto, send and spend daily and easily, you want a hot wallet that’s easy to access from mobile yet secure enough and non-custodial. Electrum and Bitamp are perfect for this.

I don't think we can buy a coffee without overpaying it a lot with Bitamp wallet until Lightning Network is not added.
It does not make much sense wasting satoshis for that now with high fees, and with Lightning Network real question is would coffee shop even accept it.

[Chikito]

I think that's a satisfying answer.
The only thing I'd like to see is your official mobile app so there's no fear of threats associated to the web wallets when using the Bitamp Web Wallet.

A lot of people still use the Internet wrong by typing web addresses in google search instead in the address bar, and they don't even use bookmarks.

Bitamp is mobile-friendly, I tried many times to access wallet using a phone. about bookmarks, the user had a simple choice to add it to home screen like an application as ussual,

If you want to buy coffee every day with crypto, send and spend daily and easily, you want a hot wallet that’s easy to access from mobile yet secure enough and non-custodial. Electrum and Bitamp are perfect for this.

I don't think we can buy a coffee without overpaying it a lot with Bitamp wallet until Lightning Network is not added.
It does not make much sense wasting satoshis for that now with high fees, and with Lightning Network real question is would coffee shop even accept it.

Yes LN is a solution but in fact LN still under development. This solution only for p2p under market, If the seller hasn't a problem without confirmation, the buyer can do a transaction using a small fee of 1 sat/byte for a coffee.

[bitampcom]

What is a safe way to store the 12-24 word recovery phrase (seed) for the wallet holding the majority of your digital assets/tokens?

Personally, I think the safest way is to keep those seeds offline, and never to store them in any way digitally unless that digital device is never allowed to connect to the internet.

People have come up with creative ways to do this. Paper is good but it’s prone to damage so think of more hardy physical ways like etching on stone or metal.

I’d back it up with committing it to memory as well;)

[bitampcom]

If you want to buy coffee every day with crypto, send and spend daily and easily, you want a hot wallet that’s easy to access from mobile yet secure enough and non-custodial. Electrum and Bitamp are perfect for this.

I don't think we can buy a coffee without overpaying it a lot with Bitamp wallet until Lightning Network is not added.
It does not make much sense wasting satoshis for that now with high fees, and with Lightning Network real question is would coffee shop even accept it.

Fair point, but only because of the current situation with mempool:) AND because BTC is priced so crazy high:)

Oh and you'd be surprised by how many people accept Lightning Network now, by the way. You should google LN stats and networks now;)

[bitampcom]

How do I make sure I don't collect dust in my wallet?

You are probably talking about coin control, and consolidating all your inputs into one utxo so that your transaction takes up less space in the blockchain.

Only a few Bitcoin wallets allow you to do this: Electrum and Bitamp are such examples.

[bitampcom]

Someone asked us about "unspent outputs" thinking that this meant their transaction was stuck... so we decided to leave our answer to help those wondering about the same.

There’s nothing wrong with seeing "unspent outputs". Unspent output simply means that: it’s not spent. So if the transaction sending that was confirmed, then your wallet already has that amount verifiable on public blockchain explorer.

You might sometimes see this term UTXO (Unspent Transaction Outputs). This is simply proof that you have Bitcoin in your wallet!

[LittleBitFunny]

I think that's a satisfying answer.
The only thing I'd like to see is your official mobile app so there's no fear of threats associated to the web wallets when using the Bitamp Web Wallet.
A lot of people still use the Internet wrong by typing web addresses in google search instead in the address bar, and they don't even use bookmarks.

Bitamp is mobile-friendly, I tried many times to access wallet using a phone. about bookmarks, the user had a simple choice to add it to home screen like an application as ussual,

It's true that Bitamp is Mobile-Friendly and mobile version is completely okay to do all online activities,
But though I think Stalker22's proposal is a good think, there are many users who are not aware using web browser, It will be more secure if we have a iPhone or android apps like other wallets. I think Bitamp developer team are also thinking about it and hope they will release apps for Bitamp in near future.

[bitampcom]

I have some Bitcoin on a faucet site. What's the best app to convert them?

Don’t use an app. First, get those Bitcoins into your own wallet. Not a wallet where you have no control over. Right now you’re hostage to the site, if they run, you’re doomed.

Download Electrum or try Bitamp. Understand how to use them. Then withdraw from your service before you even start thinking of “converting”.

[bitampcom]

I think that's a satisfying answer.
The only thing I'd like to see is your official mobile app so there's no fear of threats associated to the web wallets when using the Bitamp Web Wallet.
A lot of people still use the Internet wrong by typing web addresses in google search instead in the address bar, and they don't even use bookmarks.

Bitamp is mobile-friendly, I tried many times to access wallet using a phone. about bookmarks, the user had a simple choice to add it to home screen like an application as ussual,

It's true that Bitamp is Mobile-Friendly and mobile version is completely okay to do all online activities,
But though I think Stalker22's proposal is a good think, there are many users who are not aware using web browser, It will be more secure if we have a iPhone or android apps like other wallets. I think Bitamp developer team are also thinking about it and hope they will release apps for Bitamp in near future.

Very fair points, and there are always drawbacks to every solution. Bitamp was meant as a simple web page (that you can even save a copy offline btw) and access extremely lightweight. Many low end smartphones can't install apps (or non google or apple products) but every low end smartphone has a browser.

Thanks for all the feedbacks though! We really appreciate them!

[bitampcom]

So, what should you know before accepting a Bitcoin payment?

I’d say, that you should always use a non-custodial Bitcoin wallet, and if possible, one that is open source. Just check that:
1. the code is available for inspection.
2. Only you have private keys, as that gives you control of your Bitcoin. If you use a wallet where the service provider has control, then you’re missing out on the best part of Bitcoin: self sovereignty over your funds!

Anything else you should know before you accept your first Bitcoin payment?

[bitampcom]

Imagine I have some BTC wallets and I want to collect them into a wallet. Must I spend a fee for each transfer?

Unfortunately you do. But you can always consolidate all inputs and spend them in a single transaction. This is to “sweep” everything from 1 wallet to another.

Some people sweep wallets to a wallet on an exchange and then back out to their own wallet to ensure all funds are in one consolidated input. This could save you a bit of fees, but you should never do that if you want to ensure your coins are always yours!

[bitampcom]

Will Bitcoin have any practical value?

Something we get asked a lot. Will? It already has had practical use for many years now, arguably even from the first time it went public, when you could actually use it to sign messages, proving your identity and proof of ownership (you couldn’t do that independently before with any money).
- store of value
- proof of ownership
- independent payment network 24/7 100% up time with no censorship

Pretty amazing stuff, and that's just the tip of the iceberg, isn't it?

[bitampcom]

Just came across this on Reddit and thought we'd share it here. Real life examples of people losing their Bitcoin to exchanges and other online services. We advised them to immediately get comfy with a real wallet like Bitamp or Electrum;)

https://www.reddit.com/r/CryptoCurrency/comments/m1mu51/lost_bitcoin_wallet/gqkuppp?utm_source=share&utm_medium=web2x&context=3

[bitampcom]

Someone asked us on reddit: Do you expext Bitcoin mining to bocome so hard that there isn't nearly any device with the enough computation power to mine bitcoin anymore?

We said:

Tech will always improve. Either computers become more intensive, or more efficient at mining, or it does become so hard that people drop off, and difficulty lowers. Or developers of the network discover something else that keeps the network secure without needing a lot of mining. Hard to tell.

What do you think?

[bitampcom]

Is uphold a good wallet?

It’s not so much the brand but the type of wallet. Uphold is all right but it does store your personal information (needs KYC). Why do that when you can open your own non-custodial wallet without any information? Electrum, Bitamp. So many open source clients.

[bitampcom]

Where can I find a good Bitcoin mining app for my computer?

There aren’t any. Bitcoin mining now is so highly specialized you can’t use simple apps any longer. So don’t download any of those. Worse, they are more likely to contain malicious code that will actually try to steal your passwords.

You’re far better off on a faucet site — just also remember to regularly withdraw your funds to your own wallet. Try Electrum or Bitamp!