Am confused !!!!

[Ruttoshi]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins. Also which wallet do you advise a newbie like me to use to store my coins. Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

[1714603388]

1714603388

[1714603388]

1714603388

[Upgrade00]

apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

Yes there is, there is also a higher possibility of incurring losses.

Also which wallet do you advise a newbie like me to use to store my coins. Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

• Non custodian, open source wallets are the best choice. Electrum is a very safe and popular option.
• No, exchange wallets are not open source, cause centralized exchanges are usually closed source websites.
• Open source wallets have publicly verifiable code which can be seen on their GitHub, this should be regularly updated to the latest version of the software. Closed source don't have open codes and no one knows what they do behind the scene.

[hd49728]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

Bitcoin is unique and it does not die since 2009.

Altcoins are thousands and many of them die in history of cryptocurrency market.
Dead Coins: How Many Cryptocurrencies have Failed?


Hopefully that article helps you to easily make your choice.

Also which wallet do you advise a newbie like me to use to store my coins.

Non custodial wallets.

Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained.

Are exchanges wallet an open source wallet.

They are custodial wallets. They are close source, not open source.

Reminder: do not keep your money in online accounts

How can I differentiate an open source wallet from a close source wallet.

Open source wallets give you links to their Github and their codes.

[Merit.s]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

I will advice you as a newbie who wants to learn more about cryptocurrency to stick to bitcoin for now because,it is only bitcoin that is easy to make profit on,if you invest in a long term investment. The altcoins are not reliable as they can pump up to 100% and before you know it they will go down to zero in the next minutes. Buy bitcoin and holdl,learn the market analysis of bitcoin and you will be fine with your investment

Also which wallet do you advise a newbie like me to use to store my coins.

You should use a noncustodial wallet,which only you will have access to your private keys. You can read this to choose any of the noncustodial wallet,you will love to use.
[General] Bitcoin Wallets - Which, what, why?

Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

Exchanges are using close source wallet,which allows them to be in charge of your coins and it is risky for an investor to leave his coins in an exchange because they can do away with your coins and you will have nobody to be held responsible for the loss. In a closed source wallet, there is always a back door to it and a third party is involved,but an open source wallet is open for anyone to have access to their code and it cannot be manipulated by a third party.

[robelneo]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

In my experience yes if you are one of the early investors of these altcoins and you accumulate a lot on their test net period this is where the price is very cheap, but there are a lot of risks, you need to have an insight on what they are bringing and if there's acceptance from the community, I have two tokens where I am part one of the early bird its a big risk but well worth it if the developers kept their promise and there's the adoption of their platform   

Also which wallet do you advise a newbie like me to use to store my coins.

I started on Exodus, Electrum, and MyCrypto and I'm still using these three I highly recommend these three to newbies but always invest time and effort on how to secure your coin, even the best wallet cannot secure your portfolio if you lack the best security measures.

[Coyster]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins. Also which wallet do you advise a newbie like me to use to store my coins. Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

Bitcoin has an actual utility which creates high demand for it, plus its capped supply, thus it will always have an appreciating value in the long term. Whilst most altcoins on the other hand are pump and dump coins with no utility, you might be lucky if you buy it right before it pumps, but the chances are pretty low, and the risk of you holding it when it is dead is somewhat high. So weigh up the risks and decide for yourself which option is best. To summarize the answer to your question on wallets to use: not your keys, not your coins, thus be your own bank.

[hosseinimr93]

I started on Exodus, Electrum, and MyCrypto and I'm still using these three I highly recommend these three to newbies but always invest time and effort on how to secure your coin, even the best wallet cannot secure your portfolio if you lack the best security measures.

Electrum is surely a trustworthy wallet and if it's in the correct way, your fund would be completely secure, but exodus is a close-source wallet and it's not recommended.
When you use close-source wallet like Exodus, you don't know how the keys are generated and whether they are stored on their server or not.

[Awaklara]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins. Also which wallet do you advise a newbie like me to use to store my coins. Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

although you can also benefit from altcoins, as a good start for you, I recommend investing in Bitcoin first. focus on one and also study the market. if you already have quite a lot of knowledge, you can try researching some altcoins.
regarding the wallet, electrum is the wallet that I use, I haven't had any problems with it although I also use other wallets like trust wallet. but it's not safe. I don't use it to store assets but only to segregate assets for trading.
many suggestions, you can choose and try some.

[Gladitorcomeback]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins. Also which wallet do you advise a newbie like me to use to store my coins.

First of all, welcome to this forum. You will find a lot to learn here. Apart from Bitcoin you can find many good and best coins in the crypto currency market which can give you great profits in the future. altcoins have given people huge profits in the last bull season .One thing to keep in mind is that it is important to be well informed about the alt coins to choose. It is only then possible that your choice is good and perfect. BNb, Ethereum, Arb, OP and Sui are some big Altcoins having big backup and long term idea. You should do some research on their buying range and should not take entry in fomo.

My advice for newbies is that if they want to make long term investment then choose hard wallet for it. It is a secure wallet for all coins. By the way, people also choose soft wallet and keep their coins there too, but I prefer hard wallet more, because with hard wallet I feel very satisfied

[Queentoshi]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

There is a possibility to make profit from altcoins, but it is not very high and also altcoins are not reliable to invest in with the idea that you want to make profit. You can get lucky but you can also loose everything you have invested if you invest in an altcoin that appears good but does not turn out to be good. A bad experience with altcoin for a new person can spoil the persons mind about cryptocurrency and make the person to become uninterested. As a new person in cryptocurrency, make sure that you always have more bitcoins and not more altcoins.

[bangjoe]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins. Also which wallet do you advise a newbie like me to use to store my coins. Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

Of course you can benefit from Altcoin even from Shitcoin, but what you need to remember in your brain is the risk that will be obtained from investing Altcoin far 100 times the risk of loss you get as well as the benefits.
Lots of influencers who trade shitcoin with an appendage.
If you buy a token meme this year, if you buy this this year, if you buy this coin this year, always with the same scheme, they buy it but they come out faster by bringing your money.
I just warn, especially to invest in the long run, you better do it in Bitcoin and store it in a physical wallet.
It's okay to invest in Altcoin but you really have to be willing if you lose your money.

[aysg76]

Bitcoin is unique and it does not die since 2009.

Actually if you look closely then bitcoin has been declared dead 474 times by those who hate it or don't understand it whenever the market is in red or panic situation is there.This has been case many times when it has grown from low levels also but they will never admit and bitcoin grows stronger after each declaration.

My advice for newbies is that if they want to make long term investment then choose hard wallet for it. It is a secure wallet for all coins. By the way, people also choose soft wallet and keep their coins there too, but I prefer hard wallet more, because with hard wallet I feel very satisfied

I would say if you are planning to hold even for short term then non custodial wallets are more safe if you can't afford hardware wallets as you should not let any third party have access over your keys which is more risky.When you have full control over your funds you should take responsibility of the security as well to protect yourself from scammers and hackers.

[cryptoaddictchie]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

Yes there are plenty of choices on the altcoin space that might give you profits. But make sure you are doing a due diligence with those alts cause some are money grab and if you havent experience trading some tokens especially new one then you might loss a lot of money. I think focus on major altcoins so that you might not be scared of being burn. Pick a low to mod marketcap and has a good platform and product.

[Dunamisx]

apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

Yes, there are opportunities in other cryptocurrencies but know that they are centralized and have higher tendencies to risk than bitcoin, some of them are not worth calling a digital currency that you can invest on because there are alot of fettish scam projects amidst them and this has alot to do about the developers in charge of such, having interest in other cryptocurrencies is not a bad idea but the risk in it is more than the benefits it could serve at the end.

Also which wallet do you advise a newbie like me to use to store my coins.

You can get a decentralized open source wallet from the examples here.
Open Source Hardware Wallets
https://bitcointalk.org/index.php?topic=5288971.0

Are exchanges wallet an open source wallet.

They are custodial wallets and are closed source
difference between Centralized exchanges and Decentralized exchanges
https://www.coindesk.com/learn/centralized-exchange-cex-vs-decentralized-exchange-dex-whats-the-difference/#:~:text=In%20brief%2C%20DEXs%20aim%20to,offer%20their%20own%20advantages%20too

How can I differentiate an open source wallet from a close source wallet.

If their source code is made available for public view then it's an open source wallet, if they are not then it closed source wallet, note that not all cold storages are open source.

[Beparanf]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

Yes, but as a newbie you not touch altcoins because it’s a hih risk investment unless you want to learn the hard way.

Also which wallet do you advise a newbie like me to use to store my coins.

Electrum & Hardware Wallets such as Trezor and Ledger - For Bitcoin Wallet
Metamask & Trustwallet - For Shitcoin aka Altcoin

Are exchanges wallet an open source wallet.

Big NO. Exchange is centralized so their wallets is close source.

How can I differentiate an open source wallet from a close source wallet.

Open source wallet always source code is available in their official website while close source wallet doesn’t have a source code link available in the public.

[hosseinimr93]

Metamask & Trustwallet - For Shitcoin aka Altcoin

Even for altcoins, it's not recommended to use a close-source wallet like trustwallet. Visit the article published on cointelegraph and see how a vulnerability caused some users who created wallet through their browser extension to lose their fund.
Trust Wallet to reimburse users after $170,000 security incident

We don't know how the keys are generated on trustwallet and there is no guarantee that the same thing won't happen to those who are using their application.

[SatoPrincess]

apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

First of all, there is only Bitcoin and Altcoins. The latter is a term used to describe cryptocurrencies that are not Bitcoin. I find it ridiculous that people come to a bitcoin forum and ask questions like is altcoins a better investment than bitcoin, what response do you expect to get from users who are pro bitcoin? Altcoins can give you more return of investment but at a high risk, one might as well look at altcoins as playing slots because you never know what you’re going to get and possibly lose all your money.

[Lida93]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

First, Altcoins are cryptocurrencies other than bitcoin, and the term altcoins is coined from the words "alternative cryptocurrencies".  Experience has shown that altcoins are not reliable to invest on as there are so many pump and dump altcoins that have led to the frustration of so many investors as they ended up dumping in value and didn't gain value after falling till date. So far, altcoins is never an advisable starting point for newbies, so it better you start up with bitcoin.

Also which wallet do you advise a newbie like me to use to store my coins.
Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

Electrum wallet is more friendly and easier to understandably use for newbies. And as a non-custodial wallet you have complete control over your asset.

Safely download Electrum (by DireWolfM14) https://bitcointalk.org/index.php?topic=5240594.0

Electrum wallet for beginners and advanced users (by BitCryptex) https://bitcointalk.org/index.php?topic=3456040.0

Which Bitcoin wallet to use (by Lauda) https://bitcointalk.org/index.php?topic=1631151.0


Which hardware wallet to use (by BitCryptex) https://bitcointalk.org/index.php?topic=4578719.0

[Zanab247]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

If you keep reading and keep following the rules and regulations that guide the market, it will be very easy for you to make a good profits that will give you more confidence of increasing your capital which is the best strategy many users are using to draw something big from their investments. You need to learn how to apply personal research before trading your coins in the market, if you want to go far in profits making, which you need to know when to buy crypto and hold for the price to increase before you can sell. Ethereum and binance will help you to get what you want from altcoins investment because, they are in a good position to make their investors happy.

[CryptoHeadlineNews]

Good day to you all, I am new here and I will like to get your advice,apart from bitcoin,do you think that there is a high possibilities of making profit from other altcoins.

Yes, there are high possibilities of making huge profit in altcoin investments where you can make 10x, 1000x or even 10,000x of your investment due to it's very high volatility ratio, and don't forget, that's the same way you could likewise make 1000x or 10,000x lost of your investment if you are unlucky to invest in a scam token/coin. And the reason why we always people stick to investing only in Bitcoin, which has low volatility.

Also which wallet do you advise a newbie like me to use to store my coins.

It's advisable as a newbie you use a non-custodial wallet such as "electron", where you could have full control over your funds.

Are exchanges wallet an open source wallet. How can I differentiate an open source wallet from a close source wallet.

The difference between  Source and Closed Source is as follows;
For open source code, it means the code is publicly available to anyone who wants it, and anyone can read, copy and modify the code as desired while for closed source code, access to the code for scrutiny and modification is not given to the public.

Source link: https://medium.com/airgap-it/advantages-of-open-source-closed-source-in-cryptocurrency-e14abab57a24#:~:text=Open%20Source%20and%20Closed%20Source&text=For%20open%20source%20code%2C%20it,not%20given%20to%20the%20public.