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Author Topic: Wallet for storing Bitcoin  (Read 186 times)
BITCOIN4X
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November 12, 2021, 08:41:16 PM
 #21

Best practice would prevent unwanted incidents of your cryptocurrency asset. Since I am using the Ledger hardware wallet, I will prefer to do use that as well. It's secure that wallet software. Without the device, hackers can't steal your funds. Just need to double-check the address before making a transaction. For soft use, you may use Electrum wallet, but still, there is a risk of attack that we experienced previously. So better to spend a small amount to buy a Ledger hardware wallet.
I will not prioritize hardware wallet if my bitcoin or asset are not more than $10K. Electrum and its security system are still good enough to hold a certain amount of bitcoin in my opinion, but when the number is much larger then hardware wallet should be a priority. I might be very surprised at some newbies who care so much about the security of their bitcoin but they only invest in altcoin and hodl it on the exchange. That's very unreasonable in my opinion.

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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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sunsilk
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November 13, 2021, 08:14:54 PM
 #22

My recommendation is Bitcoincore.org is a better website for people to visit and get Bitcoin Core wallet for downloading.
We don't know what Cobra will do with Bitcoin.org website and that domain. theymos tried to separate the forum to Bitcoin.org. The announcement from theymos.
There's still wasabi and electrum on that list which we all agree that they're good desktop wallets. But if there's a change that it seems doesn't look and favorable for most, I'll stop using that list. Thanks though.

Thanks for all your comments people! Really useful info..
You have a lot of options to make. Would you mind sharing what wallet you've opted to pick?

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November 14, 2021, 07:30:07 PM
 #23

Personally, I'm using both Ledger & Safepal (got it recently) and so far the experience with these is great. I guess you would rather go with a hardware wallet & I would recommend you have Safepal a try. It's very user-friendly and easy to use. You will enjoy it certainly.

You only add money on your physical pocket wallet(hot wallet) for daily spending, but you hold most of your wealth on your bank account(cold wallet).
Sasfepal can be used as both a pocket wallet (for regular tx from anywhere) & for storing purpose as well (airgapped).
I wouldn't say Safepal is a secure "airgapped" or cold wallet. Because AFAIK datas encoded in the QR-codes are not readable(!) they are encrypted and the users can't check what datas are sent from their embedded devices.
Then the device could send the seed through the encrypted QR-code to the on-line app. It's a real concern if you want to store a large amount of money with it.
In addition, if you need to upgrade the firmware of the so called "airgapped" device, you have to connect it to a PC with a USB cable...
Hence a virus could easily infect the device, steal the seed and transmit it to the PC through the USB cable.
https://safepal.io/upgrade

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