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Author Topic: -what are the best Bitcoin wallets?  (Read 513 times)
khaled0111
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January 24, 2021, 07:14:43 PM
 #21

Binance is one of the best and most secure exchanges but it's still an exchange not a wallet. You should use it to trade not to store your coins for long term.
If you are not a day trader, then I suggest you withdraw your funds to a non-custodial wallet.
A good hardware wallet costs $50-$100 so it's not that expensive. If you can't afford to buy one, then you can try Electrum which is one of the most popular bitcoin wallets.

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January 25, 2021, 03:52:49 AM
 #22

Binance is one of the best and most secure exchanges but it's still an exchange not a wallet. You should use it to trade not to store your coins for long term.
Exchange wallet is for trade and not for storage. You store your bitcoin, crypto on exchange, in exchange wallets for temporary purposes, and for trading. If you hold crypto and plan to wait for months to take profit, let's move them to your own non custodial wallets.

Binance has a good service and their reputation is good as they compensated customers in past hack. They might compensate for future hacks but they also might not. Bet your life on exchange even it is Binance is not good.

Store crypto in your own non custodial wallets require you to manage all risks and sometimes, for some people, exchange wallets are better. I could be wrong but I think if a person has an infected device and bad behavior, exchange wallet is better as exchange has multiple layers of protection.

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January 25, 2021, 06:34:41 AM
 #23

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

There are many different Bitcoin wallets and at this point it's best to know the pros and cons of each. My personal choice is the Trezor hardware wallet. Not only do they have a gorgeous design but you can manage Bitcoin with a hardware device that protects your private keys from unauthorized use which is great for security reasons.
If you don't want to invest in a hardware wallet at the moment, the next popular solution is a paper wallet for long-term storage or a desktop or mobile version of the Electrum wallet for frequent use.


I guarantee you that a Ledger Nano will also help you to secure your private keys.

I only use mobile wallets before but I think that I'm not that confident in holding my bitcoins only in a digital wallet because it might get hacked.

That's the advantages of having a hardware wallet because you are the only one who can access it and if you made a mistake with it then that's your fault.
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January 25, 2021, 07:50:40 AM
 #24

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

It is good you agreed and realised that it is a pretty dumb move, hence looking for a way to correct it. The truth that has been said here a number of times is that, no exchange is safe when it comes to storing your cryptocurrencies, they can be hacked and at least the one of Kucoin also reminded people of that, therefore you need to take your security of assets very seriously. However, the best form of wallet is hardware wallets like Trezor, but if you are trader and want something easily accessible then mobile wallets can also come handy, such as Trust wallet, Coinomi etc can also be used, thus whichever you chose, the overall viable solution is to keep assets off exchanges rather to a personal wallet. Also, learn a very important thing and that is, safeguard your private keys and mnemonic words very well.

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January 25, 2021, 07:59:01 AM
 #25

Can't say enough about Electrum. You may always end up wanting to go hardware eventually. Trezor and the like as Charles-Tim points out are open source and in good standing reputation-wise, but learn as much as possible from a wallet like Electrum first -- lightweight and yet robust, advanced coin control, native segwit and now even Lightning features. Really doesn't get much better than that for a free and mature piece of software.

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January 25, 2021, 08:16:45 AM
 #26

Binance is truly outstanding and most secure trades yet it's as yet a trade, not a wallet. You should utilize it to exchange not to store your coins as long as possible. On the off chance that you are not an informal investor, at that point, I recommend you pull out your assets to a non-custodial wallet.

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January 25, 2021, 08:23:16 AM
 #27

Sometimes I wonder how is that even possible that in 2021 people still don't get the difference of what is a wallet, what is an exchange, what is a private key and so forth.
Exchange ≠ wallet: never forget this unless you to find yourself a king without a kingdom  Grin (thanks for it Lucius)
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January 25, 2021, 08:46:13 AM
 #28

I'd strongly recommend Trezor for storing big amounts of crypto and Ownr wallet for keeping small number of coins.
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January 25, 2021, 09:33:46 AM
 #29

Selecting the best wallet is a major concern for any crypto trader. A wallet is what makes sure your money stays secure and you can easily carry out the transaction. An extremely important factor in crypto trading is a decent wallet. As bitcoin is the biggest and most famous cryptocurrency, hundreds of wallets are available.

If you're only using the wallet to hold bitcoins or HODLing for longer term investment, then that's a cold wallet. Cold wallets are kept off line in a safe place where no one can access them and are therefore safer than hot online wallets.

Using a paper wallet is the simple option, allowing you to print a wallet and key that can be stored in a safe or secure deposit box. When you ultimately want to spend, you can read the key into many different hot wallets.
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January 25, 2021, 09:40:29 AM
 #30

dejankralj101, until you are 100% sure what is what, and how it works - you better leave everything as it is now, otherwise you could become a king without a kingdom Wink
That just made my day m8  Cheesy Cheesy Cheesy
If I had some merit I would merit you. But best I can do is thank you.
Cheers!

You're welcome Wink

Don't worry about merits, I'm glad you liked my comment - even though it's just the two of us who know what it's all about Smiley

If by any chance you decide to buy a hardware wallet, I recommend that you buy it for cash in one of our physical stores (Links or BitcoinStore). This will protect your privacy, and most Ledger users know what that means.

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January 25, 2021, 12:17:46 PM
 #31

Binance is a good exchanges but I will never recommending to hold your bitcoin or any altcoins that you have in any exchanges it's better to keep it to the bitcoin wallet. I use coins.ph It is only for my country or base in the Philippines so I hold my bitcoin to this because I really trusted this because I used it more than 5 years from now and until now I did not have any issue in using this and I feel safe that my bitcoin is safe and easy to transact and convert bitcoin to fiat anytime that I want to do that.
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January 25, 2021, 02:52:56 PM
 #32

I use coins.ph It is only for my country or base in the Philippines so I hold my bitcoin to this because I really trusted this because I used it more than 5 years from now and until now I did not have any issue in using this and I feel safe that my bitcoin is safe and easy to transact and convert bitcoin to fiat anytime that I want to do that.

I personally use Coins.ph as well and they do provide a great great service(it's pretty much Coinbase on steroids), but you know what they say.. NOT YOUR KEYS, NOT YOUR COINS. The only acceptable reason that you'd leave funds on a custodial wallet/exchange like Coins.ph is if you're literally not intellectually capable of grasping the concept of non-custodial wallets; pretty much if you're like age 40+ or something that doesn't know how to use a computer.

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January 25, 2021, 03:11:52 PM
 #33

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

If you have a handsome amount of BTC then I suggest you should use Ledger, trezor, or cold wallets. Electrium is also a good option to store your funds.
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January 25, 2021, 03:27:50 PM
 #34

It's been a while since I came to this forum.  As far as I've been concerned these days, if you save a lot of money, you should use Trezor, Ledger Nano.  And if you want to save a small amount of bitcoin, you can use wallets like Electrum, Coinomi, Coinbase.  I think the electrum is much better.
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January 25, 2021, 04:11:25 PM
 #35

I think coinbase is one of the easiest ways to buy, sell and store cryptocurrency and apart from that this digital exchange provider and online cryptocurrency wallet is great for people who are new to Bitcoin.
It's easy to get started, the most well-known cryptocurrency exchange and has a strong track record of security and another great feature is Coinbase Earn which gives you free cryptocurrency in return for watching videos and taking quizzes and more.
actually there are still many of the best bitcoin wallets and it all depends on the comfort and security felt by their use.

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January 25, 2021, 04:30:55 PM
 #36

Hi there.

My name is Jacob Bernstein and I'm a reporter at the New York Times, where, as it happens, I'm crashing a quick piece about people who actually use bitcoin to make purchases (as opposed to those who are holding it purely as an investment).

Given the subject of this posting, I think maybe I'm maybe in the right place to talk to people about this.

If you'd like to hit my up today, I'm at 212 529 6573 and I can be found on Twitter, where my verified handle is Bernsteinjacob. My insta is Jacobbernsteinnyc. Any of which you can use to verify that I'm not a catfishing lunatic.

All best, JB
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January 25, 2021, 04:42:55 PM
 #37

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?
For me ever since bitcoin is legal in my country i use the wallet my country preferred and if you got one in your country then you should trust in them and if you are holding big amount of bitcoin since you think that there will be a bullrun will be happen then the best wallet im thinking so far is hardwallet where you can store your bitcoin it can be easily to put it in your pocket or in your bag. But it is always up to you since it was your bitcoin we're talking about it was just an opinion of mine and it was 100% safe unless you drop it.
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January 25, 2021, 04:54:09 PM
 #38

Accourding to me binance is absolutely perfect and safe where anyone can hold all of his funds without the risk of stoleing .
 I personally use binance
but the another wallet which is safe for holding your funds is Coinbase wallet and also blockchain.com
kevinzxz
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January 25, 2021, 04:57:25 PM
 #39

I kept my Bitcoin on Binance since 2017 and I feel pretty safe. Pretty dumb move but so far have not been hacked. However, the new bullrun is approaching and anything can be expected to happen.
Mightiest have fallen before, so I'd like to play it safe.

what Bitcoin wallets would you recommend for storage? or any other viable solutions?

Trust Wallet is the right choice for storing your Bitcoin, besides that you can also use Trust Wallet to store altcoin (ETH, Tron, BNB, ERC20, BEP20, etc.) and access dapps from Trust Wallet (1inch, Pancake, UniSwap, etc.), therefore I recommend you to use Trust Wallet, because in my opinion Trust Wallet is a wallet that is very easy to use and simple.

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January 25, 2021, 05:58:29 PM
 #40

If you are to store huge amounts of Bitcoins or whatever that you are holding, the best tip really is buying a hardware wallet, and if you want your earning to go around, having a mobile wallet is very trusty and convenient, with the use of mobile wallets, you can make transactions much much easier, I tries Bitpay, still using it right now and I can say, the UI is actually family friendly and you can assure that your security is at maximum level because of how Bitpay actually offers different ways on securing your account.
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