Best Wallet Features

[btcethgold]

Hello All,

As there are very good wallets already in the market like Trust Wallet, Exodus etc.  I want to know there two things from the user's experience

1: What features you want to see in a wallet which is not in other ones
2: How User Interface or User's experience can be improved in this wallet.

You all are requested to put your great thoughtful inputs again.

Thanks in advance to everyone who contributes here.

[mk4]

Though the BlueWallet mobile wallet fortunately now has their own privacy feature(Payjoin)[1], I'd want a mobile wallet with a coinjoining feature like how Wasabi Wallet[2] does it.

Besides that? I couldn't think of much to be honest, as BlueWallet is a pretty good wallet in my opinion that has my needs.

[1] https://bluewallet.io/features/
[2] https://wasabiwallet.io/

[OmegaStarScream]

I think it's safe to say that all wallets out there lack something.

For example, you have Electrum, which probably has all the features both newbies and advanced users would need but when it comes to the UI/UX then IMO, it's far from being the best (especially for the phone version).

Then you have Exodus which in my opinion has the best UI, but... in addition to not being open source, it doesn't have so many features.

So in my opinion, an "ideal" wallet would be a combination of both Exodus and Electrum and maybe add to that some privacy features as mentioned by mk4.

[nelson4lov]

I'd like to add to what mk4 and OmegaStarScream has said. For every wallet I've used, here are 2 things I always look out for whenever I try out a new wallet:

1. UI/UX - in addition to having a feature packed wallet, having a clean UI (non-clutter) and an excellent user experience is one of the best ways to retain a user. If I find it difficult to navigate  back and forth through a wallet due to bad UX, I tend to find alternatives and quickly move on. Bad UI/UX leaves a bad taste in the mouth so definitely something to look out for.

2. Security - I've seen some crypto wallets get hacked in the past and it wasn't funny. Most wallets are poorly code with a lot of security checklist left unchecked and usually leaves a room for vulnerabilities that can get exploited by a bad entity.  The best wallets are those with the best security.

Those are the 2 main features I look out for in any wallet I'm trying out. There are others though.

[DoublerHunter]

~snip~
1: What features you want to see in a wallet which is not in other ones
2: How User Interface or User's experience can be improved in this wallet.

^ There are various crypto wallets, there are too many of them in the crypto space. But if you prefer to use a bitcoin wallet, I suggest choosing only for a bitcoin storage. I hate using a multi-sig wallet that supports other cryptos because usually they have fixed fees and you cant able to modify the fees. Unlike electrum, focus only on bitcoin as you can see, people will like to use it because aside from free to use, it is a fully open-source wallet.
There is no problem with the UI, as long as your wallet is safe and you are the one who controls the key.

[akram143]

Quick notification feature when we receive funds from an address is missing on most of the wallets I guess so it would be an better inclusion.

Most of the android crypto wallet often have bugs so having bug free wallet app will give best user experience.

[mk4]

Most of the android crypto wallet often have bugs so having bug free wallet app will give best user experience.

That's probably the worst wallet I know and definitely the last wallet I would suggest upon literally anyone; it's just so bad that I would rather suggest people to leave their funds on exchanges like Coinbase and Binance.

[Salauddin1994]

Binance is better in the case of the best wallet to integrate those who want to invest securely in bitcoin some of the wallets have more features than others including the ability to store more cryptocurrencies than just bitcoin and the associated security measures. It is also recommended to update your wallet regularly and keep a backup to protect data and transaction history.

[mk4]

Binance is better in the case of the best wallet to integrate those who want to invest securely in bitcoin some of the wallets have more features than others including the ability to store more cryptocurrencies than just bitcoin and the associated security measures.

Binance is mainly an exchange though, and should only be used for it's obvious main purpose— to exchange bitcoin and cryptocurrencies. Nothing more, nothing less.

Boy, you might want to see this: https://cryptosec.info/exchange-hacks/

[mocacinno]

When it comes to features:

• it has to be a HD wallet: i don't want to make backups of my wallet file every couple of days
• it has to be encrypted
• native segwit
• coin control features: i have to be able to pick the unspent outputs i want to use as an input
• tx control features: i want to define the change address, or let the wallet derive a change address for me, i want full control over the fee (i want to set the exact amount of sat/vbyte and have the wallet make a couple of suggestions aswell), i want to be able to create unsigned transactions or sign unsigned transaction i constructed outside of the wallet
• i want to be able to sign messages
• the wallet has to be open source, signature has to be available
• i have to be able to build the wallet on *nix

There are more features, but i probably wouldn't even want to use a wallet that doesn't offer above features as a bare minimum.

The UX, i don't care about... I use core from the command line, and electrum aswell... Sure, a gui is nice sometimes, and if you want to create a wallet that's newbie-friendly you really need one... But if you create a wallet for older users, i wouldn't worry about the ux all that much (at least, that's my personal feeling, i know a lot of old-timers that DO care about UI/UX)

[NeuroticFish]

I'd add to @mocacinno pretty good list:
* [very important] support top hardware wallets (at least Ledger and Trezor)
* [important] the seed should work with other wallets too
* [important] it should be SPV since most users don't have the patience to download the blockchain
* [less important] allow RBF easily
* [less important] show the amount also in fiat (at least USD) <- I find this very useful for newbies that could get confused about how much money they send

The discussion on UI can be wide, but I don't want to write so much. I'd modify this on that on Electrum's UI and behavior (I'd go back to the old handling of SpendFrom, I'd default to BTC not mBTC, ...) and I'd add an option for simpler view for newbies.
All in all I do like Electrum for PC, but mostly the older version. So I'd start with that, I'd change a little here and there and I'll try to find ways to make it less confusing for starters.

[btcethgold]

Hello Mocacinno,

what do you mean by HD wallet. thanks for all the inputs.

When it comes to features:

• it has to be a HD wallet: i don't want to make backups of my wallet file every couple of days
• it has to be encrypted
• native segwit
• coin control features: i have to be able to pick the unspent outputs i want to use as an input
• tx control features: i want to define the change address, or let the wallet derive a change address for me, i want full control over the fee (i want to set the exact amount of sat/vbyte and have the wallet make a couple of suggestions aswell), i want to be able to create unsigned transactions or sign unsigned transaction i constructed outside of the wallet
• i want to be able to sign messages
• the wallet has to be open source, signature has to be available
• i have to be able to build the wallet on *nix

There are more features, but i probably wouldn't even want to use a wallet that doesn't offer above features as a bare minimum.

The UX, i don't care about... I use core from the command line, and electrum aswell... Sure, a gui is nice sometimes, and if you want to create a wallet that's newbie-friendly you really need one... But if you create a wallet for older users, i wouldn't worry about the ux all that much (at least, that's my personal feeling, i know a lot of old-timers that DO care about UI/UX)

Hello friend,

please tell what do you mean by SPV, RBF. thanks.

I'd add to @mocacinno pretty good list:
* [very important] support top hardware wallets (at least Ledger and Trezor)
* [important] the seed should work with other wallets too
* [important] it should be SPV since most users don't have the patience to download the blockchain
* [less important] allow RBF easily
* [less important] show the amount also in fiat (at least USD) <- I find this very useful for newbies that could get confused about how much money they send

The discussion on UI can be wide, but I don't want to write so much. I'd modify this on that on Electrum's UI and behavior (I'd go back to the old handling of SpendFrom, I'd default to BTC not mBTC, ...) and I'd add an option for simpler view for newbies.
All in all I do like Electrum for PC, but mostly the older version. So I'd start with that, I'd change a little here and there and I'll try to find ways to make it less confusing for starters.

[moderator's note: consecutive posts merged]

[mocacinno]

here are the answers to your questions:
HD: https://en.bitcoin.it/wiki/Deterministic_wallet
SVP: https://en.bitcoin.it/wiki/Scalability#Simplified_payment_verification
RBF: https://en.bitcoin.it/wiki/Replace_by_fee

next time you have questions like these, it's always a good idear to simply use google .

[akram143]

Most of the android crypto wallet often have bugs so having bug free wallet app will give best user experience.

That's probably the worst wallet I know and definitely the last wallet I would suggest upon literally anyone; it's just so bad that I would rather suggest people to leave their funds on exchanges like Coinbase and Binance.

Wallets in our smartphones can be quite handy in many situations, I keep little amount of bitcoins in my android electrum for any emergency conversion in case if I lost my wallet any day but its definitely not recommended for primary wallets.

[PonZZ]

I've never met a crypto wallet with assets withdraw feature, I think it would be a popular option among most users. What's about UI, it must be as clear and simple as possible (less buttons on the main menu, for example).

[mk4]

Wallets in our smartphones can be quite handy in many situations, I keep little amount of bitcoins in my android electrum for any emergency conversion in case if I lost my wallet any day but its definitely not recommended for primary wallets.

I apologize, I re-read what you've said in the past quote, and for some reason I missed the "bug" word. I thought you were referring to the crappy FreeWallet mobile app that for some reason some dude here in Bitcointalk was recommending it to people.

[joniboini]

I've never met a crypto wallet with assets withdraw feature, I think it would be a popular option among most users.

Not sure what do you mean by assets withdraw feature. Do you mean withdrawing your crypto to your bank (in fiat form)?

You'd probably need an exchange for that. Or a wallet with an integrated P2P platform.

[btcethgold]

sure. i will keep this in mind. and thanks for all the posts here.

here are the answers to your questions:
HD: https://en.bitcoin.it/wiki/Deterministic_wallet
SVP: https://en.bitcoin.it/wiki/Scalability#Simplified_payment_verification
RBF: https://en.bitcoin.it/wiki/Replace_by_fee

next time you have questions like these, it's always a good idear to simply use google .

[hugeblack]

Your question has many answers, and not all of them will be wrong because the perception of digital currencies differs from one person to another.
We are in a cryptocurrency community so there will be a preference for privacy, some tech features, security and fees VS ease of use, and simplicity.

So, if your wallet is for beginners, make sure that it is easy to use, safe, supports a lot of altcoins, and then you can focus on the rest of the features over time.

[ABCbits]

1: What features you want to see in a wallet which is not in other ones

Does open source count as feature? I wouldn't call closed source wallet (trust wallet and exodus) a good wallet. Ability to have access to seed/private key and able to import it to another wallet is important for many users.