How do I secure my wallet

[Cricktor]

The way he does it is to repeat the phrase several times a day. That might guarantee that he won't be able to forget it, but it's a waste of time, and if something unexpected happens, there's no guarantee he'll remember it. Everything is at risk.

I consider it too a risky method and a waste of time and efford. To control that you memorized it properly especially in the learning phase, you need a written record of the mnemonic words. With the written record you have a backup, so no need to memorize it.

Once you learned the words and can repeat them from memory 100% properly and in order, you still have to re-check your memory regularly, maybe not several times a day, but still on a regular base. To then that your memory is still correct you'd need again a written record of the mnemonic words to be sure. Well, then memorizing is a waste of time. Not keeping a written record of the words is likely a recipe for desaster.

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[Blitzboy]

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

Be frank, have you really done any research before coming here and asking that question? I mean, there are tons of people that have asked this question and it has been answered for numerous times.

What do you see on the right side on main page under your name? News: Latest Bitcoin Core release: 25.0 (https://bitcoincore.org/en/download/)
This isn't here for no reason, you can trust Bitcoin Core wallet, it's the original wallet after all.

Electrum is a good wallet, it also offers a lightweight version that doesn't require you to run node. Just be sure that your computer is virus-free and overall, be sure that you know how to keep your pc secure in order to avoid attack or wallet hack.

Did he even Google "Bitcoin Wallet" before asking this question? Every crypto-fanatic and their grandma has asked this a million times on every forum!

Electrum? Yeah, it's a solid wallet choice, lightweight and easy. But hey, just because it's lighter doesn't mean your PC can be loaded with viruses. Crypto hygiene, anyone? Keep your PC clean and safe, or you'll get your coins swiped before you can say "Satoshi"!

[jaberwock]

Everyone should know privacy is the most thing when it comes to the crypto world. So keeping your seed phrase in a secure place should be the first priority of anyone actually holding BTC or any other crypto asset. But I would advice like every other to actually go for a cold wallet if you are holding a large amount of bitcoin just to be on the safer side because all these hot wallets are prone to different attacks.

The reason why we are advised to keep our private keys in a secure location is because we have the option to hold them. Not like to those non-crypto wallets where we are only given a simple password or a pin code to log on to our accounts and there are recovery methods in case we lost them.

It's not that the main objective of crypto is for privacy but who likes to store his private keys on an open place anyway? What if someone stoles it or what if your kid, sibs, nephew, and other little kids, mess up your private keys that you write in the notebook? You will never recover your cryptos anymore once you logout from the existing wallet that you use or if it crashes.

[tjtonmoy]

If you really want the best option, then it has to be hardware wallets. There aren't any better alternatives to this. But when you are not able to get one, then Electrum is the best option to have. And no, it's not a custodial wallet, it's a non-custodial wallet. So you are safe to use it because only you will have access to your private key. There are some options available in Electrum that will help you too. Such as RBF, multiple wallet addresses to keep your privacy safe, CPFP and many other things.
Also, it will provide the best security compared to other wallets. But always remember, when you are connected to the internet, nothing is immune to hacking.
Never share your private key, don't back them up on the internet. Make multiple hard copy on paper, wood, clothes etc. Keep them safe.
And again, hardware wallets are the best. So if you get the chance, get one.

[Stalker22]

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What da hell is wrong with these users. Is one copying from another or are both copying randomly from Internet. I guess the later paraphrased the later former.

It is hard to tell if one user copied from the other or if they both independently used an AI tool to come up with similar content. But chances are, they both most likely used ChatGPT or a similar AI tool to generate their content. That definitely looks like a classic ChatGPT response! It has that distinct "AI-generated" vibe that is hard to miss.

[Z390]

Master Hoseeinimr93, whenever you are telling people not to use a wallet for storing their coins because they are closed source, do not hesitate to give them a better option,

You can go for a good hardware wallet like Trezor. That's the best thing you can do. Visit the topic created by dkbit98 to know some other alternatives.
[LIST ] Open Source Hardware Wallets

If you can't afford to buy a hardware wallet or you don't want to use a hardware wallet for any other reason, you can use Unstoppable wallet. Visit the topic created by theymos.
Reminder: do not keep your money in online accounts

Thanks for your reply master, I already had Unstoppable wallet on my smartphone all this while but I've never used it, because I don't find many people using it, you know, someone gotta be careful will less popular things related to crypto investment, I see that Blue wallet is a good alternative to Electrum for IOS, is Blue wallet available for android users too? I am a android user. And I will give Unstoppable wallet a trial starting from now, thanks.

[Patrol69]

There is no alternative to using a full security wallet to ensure the safety of funds. Currently, it is not safe to deposit your money in an exchange because any exchange can disappear from the market at any time, so in order to ensure the safety of money, first of all we must refrain from keeping the money in the exchange wallet. 

When it comes to security, first of all, everyone will ask to use hardware wallet because you can keep bitcoins and other currencies in hardware wallet very safely. If you have any problem using hardware wallet then there are some powerful wallets that you can use if you want. You can try Mycelium Wallet, Electrum Wallet, Metamask Wallet, Atomic Wallet if you want. Because these wallets are full security wallets.

[Nrcewker]

Electrum is a desktop wallet. Here you have complete access to your funds. No one other that you can easily access the coins from this wallet. Thankfully you didn’t choose the online wallets, as there are many times when breaches have happen and people have lost their funds. So yes Electrum or Ledger wallets are best according to me. Moreover if you want to store your funds securely, then don’t share the private keys to any other person or keep in any online storage. Just write it down in a piece of paper and store it securely.

[hosseinimr93]

is Blue wallet available for android users too?

Yes. You can download the android version of bluewallet from their official website.

You can try Mycelium Wallet, Electrum Wallet, Metamask Wallet, Atomic Wallet if you want. Because these wallets are full security wallets.

Atomic wallet?
It seems that you are unaware of what happened to Atomic wallet recently. Visit the topic created by Wind_FURY a few days ago.
A Non-Custodial wallet, Atomic Wallet, being compromised

[CryptSafe]

From your comment, I know you have been able to anticipate all about Bitcoin, and gaining much knowledge was a fast move by you which is highly recommended. It is nice you are taking advantage of the current market situation to acquire more bitcoin and holding them for a long term would definitely bring you profit in return not to talk of when halving is just around the corner.
You can actually acquire your Bitcoin assets from a centralized exchange but it is not advisable to leave your assets there as there is no guarantee of your asset safety as it has been proven beyond doubt with respect to activities ongoing relating to the hacking of major notable and well-recognized exchanges around the world hence this notable statement "not your keys, not your coin".
Always do well to transfer your coin to your self-custodial wallet after purchase or daily trading so as not to be taken unawares.
Transferring to your self-custodial wallet is not just enough mind links you click and download from random sites and emails. At least these precautionary measures would keep your wallet and assets safe.

[Adams0001]

When it comes to hiding BTC and other cryptocurrencies. Security is a key concern with digital wallets, and it can be difficult to determine which one is more dependable for your needs.

The best step is to select a crypto wallet that determines whether you want hot or cold wellet that you enjoy saving it there, hot wallets are coupled with the internet, whereas cold wallets are stored offline and remain unconnected from online platform, everything has superiority and disadvantage, but if maximum security is your real goal, cold wallets would be your perfect options for storing your large amount of BTC securely.

[fuguebtc]

The way he does it is to repeat the phrase several times a day. That might guarantee that he won't be able to forget it, but it's a waste of time, and if something unexpected happens, there's no guarantee he'll remember it. Everything is at risk.

I consider it too a risky method and a waste of time and efford. To control that you memorized it properly especially in the learning phase, you need a written record of the mnemonic words. With the written record you have a backup, so no need to memorize it.

Once you learned the words and can repeat them from memory 100% properly and in order, you still have to re-check your memory regularly, maybe not several times a day, but still on a regular base. To then that your memory is still correct you'd need again a written record of the mnemonic words to be sure. Well, then memorizing is a waste of time. Not keeping a written record of the words is likely a recipe for desaster.

I'm not advocating that method either, it has too many risks that outweigh the benefits. But one biggest advantages the method gives is that you can access your bitcoins anytime, anywhere you want. Each storage method has pros and cons, we need to choose the one that feels best and works best for us. But regardless of the storage method, we should have 2 to 3 backups, not depending on just one way is too risky.
Self-storage is one of the biggest advantages of bitcoin over other asset classes, but it can also become a disadvantage if we are subjective.

[Good_Doctor]

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

You actually are doing well wanting information as to the best wallet to use in storing your Bitcoin as you wan to venture into this trading of bitcoins...I'd advice that you make real researches deep into these wallets and their features that is, what they have to offer as you trade yir Bitcoin to make the trading secure and reduce loss of your coin during transactions. Indeed electrum wallet is one popular and widely used for transactions of bitcoins others and it's a non-custodial wallet, meaning you're in full control of your bitcoin , any mistakes during transactions is ascribed to you if any occur and that's a loss. Other available wallet that are are Coinbase....ledger... metamask and many more other non-custodial wallet but you need to understand that you're in charge here and so would advise you to make thorough research and choose a suitable wallet of your choice having seen the features and security measures of each of the wallet. I hope this helps!

[crunck]

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

Hardware wallets are definitely the best option at the moment, but if you don't have enough money to buy them, the Electrum wallet might be the best alternative. I have also been using Electrum for the past 5 years and have not had any problems with it. For me, Electrum combined with an old phone that is not connected to the internet is more secure than a hardware wallet.

[RajeshKarwa]

It is critical to secure your crypto wallet in order to protect your digital assets from unauthorized access or theft. Here are some measures you may do to improve the security of your cryptocurrency wallet:

1. Choose a reputable wallet: Select a well-established wallet with a strong track record of security. There are different types of wallets, including hardware wallets, software wallets, and online wallets.

2. Use strong and unique passwords: Create a strong and complex password for your wallet that includes a combination of uppercase and lowercase letters, numbers, and special characters. Avoid reusing passwords across different platforms to minimize the risk of a password breach.

3. Enable two-factor authentication (2FA): Activate two-factor authentication for your wallet whenever possible. This adds an extra layer of security, in addition to your password.

4. Keep your software up to date: Regularly update your wallet software to ensure you have the latest security patches and bug fixes.

5. Backup your wallet: Make regular backups of your wallet and store them securely offline. This could involve creating a physical copy of your wallet's private keys or mnemonic phrase and keeping them in a safe place. Ensure the backup is encrypted and not easily accessible to others.

6. Be cautious with online interactions: Exercise caution when interacting online, as phishing attacks and malicious software can compromise your wallet's security. Avoid clicking on suspicious links or downloading files from untrusted sources.

7. Secure your devices: Keep your devices, such as computers and mobile phones, protected with up-to-date antivirus or anti-malware software.

8. Use cold storage for long-term holdings: Consider storing a significant portion of your cryptocurrency in cold storage. This helps protect your funds from online threats.

9. Be mindful of public Wi-Fi: Avoid accessing your wallet or conducting transactions using public Wi-Fi networks, as they may be unsecured and susceptible to interception.

10. Educate yourself: Stay informed about the latest security practices and potential threats in the crypto space. Regularly educate yourself on best practices and be cautious of scams or fraudulent schemes.

NOTE : Securing your crypto wallet is your responsibility, and taking proactive steps to protect your assets is essential.

Thanks !!

[GeorgeJohn]

Electrum is a desktop wallet. Here you have complete access to your funds. No one other that you can easily access the coins from this wallet. Thankfully you didn’t choose the online wallets, as there are many times when breaches have happen and people have lost their funds. So yes Electrum or Ledger wallets are best according to me. Moreover if you want to store your funds securely, then don’t share the private keys to any other person or keep in any online storage. Just write it down in a piece of paper and store it securely.

Actually it highly recommendable by anyone who knows about a custodial wallet and none custodial wallet to recommend an Electrum wallet as a wallet that have a protective security in terms wallet accessibility from another person, it's crystal clear that Electrum wallet is serves as one of potential and credible wallet we can use and no one can penetrate into our wallet, so therefore having the wallet called Electrum as an wallet that have high rate of security does not mean that the seed phrase should be exposed or been documented online, because if a seed phrase is been exposed to public their is every tendency that your coin Electrum wallet can be transfer through the process of importing the wallet through the seed phrase, so in summary our seed phrase is our majority key or priority to be secured base on inability of accessibility or having access to your wallet irrespective the wallet.

[cryptodude]

For the security of your wallet, I suggest you to use a hardware wallet. No matter how hard you try to keep your software wallet assets safe, it will never be possible at your risk. You can find many hardware lists from open source. And as long as you can't provide security for your wallet, you can keep your asset on a good exchange.
See the Hardware wallet lists

[Mpamaegbu]

4. Keep your software up to date: Regularly update your wallet software to ensure you have the latest security patches and bug fixes.

We can't really be too certain something wrong won't happen with this. I've read something here where a user got hacked while trying to update their wallet and all the funds moved out. I don't know how that happened but it was a shock anyway.

5. Backup your wallet:

Doing this regularly will easily expose your wallet. Someone can stumble on where the littered vitals are hidden and the funds are gone just like that. Limit doing this. I make a copy of mine only once. I don't even keep it like something I'm hiding. I keep it where I keep other regular stuff so that even if anyone stumbles of it, they won't know it's something important. I'm practicing that principle of the best way to hide something is to expose it or put it in the open.

6. Be cautious with online interactions:

This should've come as number one warning to heed to on the list.

9. Be mindful of public Wi-Fi:

This is apt! For those who think they want to save cost by using public WiFi to assess anything confidential, they aren't doing themselves any good. Wifi in the public space should be for less serious browsing or Netflix and all of that, not something that involves high level of privacy.

[nlovric]

Electrum Wallet is not a bad wallet. You can use Electrum or Wasabi wallet. You can get the Electrum Wallet from Google play store if you are using Android phone or from the main official site if you are using desktop. Exchange are not recommended because they are centralized and because of that hackers and government are always attacking them. Government is attacking them more than even the hackers. Small things government want to close them or seized and with all those things your coins are not saved in their hands. So it better you look for non custodian wallets and keep your coins for the long term storing.

You are entirely correct A respected wallet that provides a safe and convenient environment for storing and managing cryptocurrency is called Electrum Wallet. When it comes to centralised exchanges it is crucial to exercise caution because they may be open to government intervention and hacking operations.Choose from thses secure wallets like Electrum or Wasabi gives you more control over your money and lowers the likelihood that it will be stolen.These wallets offer individuals exclusive control over their private keys ensuring that they are the sole individuals with access to their funds. It is wise to assume responsibility for your own security and select reputable wallets especially for long term coin storage.

[Agbe]

right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset,

They are not accepting because they don't know the value of it. And also add it to what you have said, bitcoin is not only an asset but also a currency. It is a digital currency exchange for goods and services, so don't tell someone that bitcoin is an asset alone but add the currency as well.

so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

There are different non custodian wallets which you can use to store your bitcoins. You can use either mobile app or desktop software. And the Electrum Wallet you mentioned is also a nice wallet to be used. So if you like it then you can go for it.