How do I secure my wallet

[bayudndy]

Some traders and investors choose to keep their assets on exchanges, especially if they are actively trading or have a degree of confidence in the security measures of the exchange. However, it is important to consider the risks involved in holding funds on an exchange, as there have been cases of exchanges being hacked or experiencing other security breaches. Using a non-custodial wallet like Electrum to store Bitcoins is a good choice for long-term holdings, as you have full control over your private keys and are not dependent on third parties. Electrum has been around for a long time and has a solid reputation in the Bitcoin community. As for altcoins, Trust Wallet and MetaMask are actually popular non-custodial wallets that support multiple cryptocurrencies. So choosing where to store your assets depends on your risk tolerance, comfort level, and specific security features, as well as the reputation of the wallet or exchange you choose.

[ringgo96]

Currently there are very many wallets that we can use to store Bitcoin assets, and you can choose for yourself which one is easier to use and the Google Play Store has also provided many crypto wallets so those of us who already have assets and start investing in crypto then we can easily find many wallets there, And for wallet problems we must be careful because all for the security of the assets we have.

[Broadanbig]

Some traders and investors choose to keep their assets on exchanges, especially if they are actively trading or have a degree of confidence in the security measures of the exchange.

Actively trading or not, mate it is not advisable to keep your assets and funds with exchanges. There is no degree of confidence in exchange that would allow or should make an investor leave their funds with them. Atleast it is there for them to investigate on the well known exchange that got hacked and those that misappropriated investors funds. These are the research one should do before thinking of anything about exchange because even the best sophisticated exchange can fall for hackers. It has happened to ftx, it happened to binance years back based on my research findings notable exchanges have been hacked before so have a rethink before jumping to conclusions.

[Furious 7]

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.

Saying whether bitcoin is a valuable asset or not returns to everyone's beliefs and perspectives because we also won't be able to impose what is said to be good or not in this case considering that what we think is good may not necessarily be as good according to other people. so that in this case we can only feel ourselves regardless of the views of others, let them judge according to the perspective they feel.
On the other hand, when talking about wallets, it's really good not to use what your friends suggest, maybe you can if the goal is trading, but when talking about investments, I personally prefer something safer than that.
A better suggestion might be Hard Wallet because apart from anything the security and comfort are also quite felt for this, as long as we don't provide seeds or anything related to our wallet I think it will be very safe to be there at least that's how I feel until now.

[Cricktor]

..., it is worth noting that using a closed-source wallet means you have limited code visibility and potential vulnerabilities. In general, open-source wallets tend to have a higher level of community trust and oversight.

Closed-source wallets have practically no code visibility unless you want to reverse-engineer the executables. Who has time and knowledge for that?

If you prefer a non-custodial wallet for altcoins, you can consider other reputable options like Atomic Wallet or Exodus. Both are non-custodial wallets that support multiple cryptocurrencies and are open source, providing community transparency and oversight.

Atomic Wallet users were recently hacked, solid details on how the hack was executed are still missing and to my knowledge so far Atomic Wallet's investigations are too slow for my taste or maybe lack competence or are silent to hide embarassing flaws of their product.

How can you say that Atomic Wallet and Exodus are open-source? To my knowledge both are closed-source and particularly audits of Atomic Wallet revealed many issues which were not resolved by creators of Atomic Wallet, forcing the auditing company to publish their findings and concerns. (Maybe not the best source to quote: https://cryptonews.net/news/security/3138745/ but better than nothing.)

[Gulttam2a2]

We are aware that hacking bitcoin is not so easy. Here you asked which wallet is more secure to exchange or buy cryptocurrency. Not only bitcoin there are many other cryptocurrency platforms like ethereum, polygon etc. We must keep them in secure wallet. Many wallets. There are like coinbase, etoro, robinhood and many more. I think if you put in any one of them you can keep your assets safe in wallet.

[petulino]

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.

Investing in Bitcoin is one of your best strategies that will prove in the future that you made a great decision. always keep your investment in your personal wallet. there are two types of wallets in personal wallet, one is soft wallet and the other is hard wallet.

Among the soft wallets, MetaMask wallet and Trust wallet are considered very good which you can download for free. While hard wallets you have to buy online, some are quite expensive and some are available at reasonable prices. among which Ledger nano X and Safe Pal Wallet are considered good. A few days ago, there was a news regarding the update of Ledger, due to which it faced a lot of criticism. Whereas I have Safe Pal wallet and have been using it for the past one year and consider my investment safe here.

Always keep one thing in mind whether it is soft wallet or hard wallet always keep your seed safe and don't give it to anyone.

[HajiBagi]

First, all you need is a secured, self-custodial wallet. Avoid storing your crypto on a centralized exchange. It all depends on the amount of crypto you want to transact; if it's worth a little more, then purchasing a hardware wallet will be a better idea.

Check out the list of open-source hardware wallets.
Trezor should be avoided, though, since they are now gradually going centralized instead of fully decentralized and self-custodial. For security reasons, avoid them.

The only thing you need to keep in mind as an investor is that you have never given anyone access to all of your uses regarding what you are investing in the future. I know that finding a good wallet is a good idea, but even if you have a good wallet and you can't keep the secret or private keys to yourself it's not safe, many people today fail because they are unable to hide their secrets.
Hardware wallet is among the most popular wallets today, none of the wallets that are introduce to you here are bad; rather, my point is that you should learn how to protect your private key.

[Rupok]

If you intend to invest Bitcoin long term and have no plans to trade, then don't store your bitcoins on an exchange. Not all centralized exchanges are bad, but exchanges like Binance are different because they have been in the market for a long time. Your friend's advice is correct and you should also remember that your wallet key and other information cannot be shared with friends, acquaintances or strangers.  They may try to take your wallet seed from you in an opportunity to suggest, but never make this mistake.It's important to consider the risks involved in holding exchanger funds so using a non-custodial wallet like Electrum would be better for long-term holdings.

[Z-tight]

Among the soft wallets, MetaMask wallet and Trust wallet are considered very good which you can download for free.

Trust wallet is closed source and i will not recommend it or MetaMask for someone who is looking for a wallet to store only their BTC. I don't recommend people to use multi-coin wallets to store their BTC and other shitcoins, it is better to use Electrum to store your BTC's safely and then choose another multi-coin wallet for all your other cryptocurrencies.

We are aware that hacking bitcoin is not so easy.

BTC in itself cannot be hacked, it is not centralized, but people who have BTC in their wallets can be hacked and their funds would be stolen, but that is if they have bad operational security or are just unlucky.

[phantailaptopbl]

Among the soft wallets, MetaMask wallet and Trust wallet are considered very good which you can download for free.

Trust wallet is closed source and i will not recommend it or MetaMask for someone who is looking for a wallet to store only their BTC. I don't recommend people to use multi-coin wallets to store their BTC and other shitcoins, it is better to use Electrum to store your BTC's safely and then choose another multi-coin wallet for all your other cryptocurrencies.

We are aware that hacking bitcoin is not so easy.

BTC in itself cannot be hacked, it is not centralized, but people who have BTC in their wallets can be hacked and their funds would be stolen, but that is if they have bad operational security or are just unlucky.

As a investor must keep in mind the one matter are and at future what you will invest are you all for applications and no one is given atom and one good secrete or private keys to yourself its not to be a safe and today all not unable to hide and in todays life hardware wallet is popular in all wallets and kept this kind wallet and today some one to hide and the fail and you learn about  to how keep safety  and this are the my opinion .

[Litzki1990]

Basically prevention is better than defense so we should give utmost importance in choosing a wallet. Choose a wallet that has more security. Because if the wallet is more secure then no one can easily access that wallet. To keep the wallet secure, you need to adopt some strategies such as keeping your wallet information only with you. If you login to your wallet on mobile or computer, you must enter a strong password on your device so that no one but you can login to your device. Thus if you can adopt some strategies then you can keep your wallet safe

[Outhue]

Among the soft wallets, MetaMask wallet and Trust wallet are considered very good which you can download for free.

Trust wallet is closed source and i will not recommend it or MetaMask for someone who is looking for a wallet to store only their BTC. I don't recommend people to use multi-coin wallets to store their BTC and other shitcoins, it is better to use Electrum to store your BTC's safely and then choose another multi-coin wallet for all your other cryptocurrencies.

We are aware that hacking bitcoin is not so easy.

BTC in itself cannot be hacked, it is not centralized, but people who have BTC in their wallets can be hacked and their funds would be stolen, but that is if they have bad operational security or are just unlucky.

Trust wallet is a closed source and it's from the binance team too, something bad happened to the Trust wallet add-on wallet some time ago where some people lost their assets but Binance refunded all of them because the incident have something to do with the new addon from the team, the only exchange that's capable of refunding users for any losses that happens from their side is Binance.

I am not encouraging anyone to start storing their assets on Trust wallet because of possible refund if any bad thing happens, I still believe that open source wallets are better and if multi-coin wallet is your thing, Blue wallet and Unstoppable wallet are the best open source wallet I can find. DYOR

[Magic-Money]

Trust wallet App is more secure and reliable by store your Bitcoin, and by making sure you're wallet is secured have to saved the phase code of the wallet and like wise the password login and no condition make you to connect your wallet to a website as a result of claiming airdrop, that is a big mistake most people make and lost of funds. As long is wallet address transaction only been make in the wallet, that is simply means you're wallet is secured.

[cornhodlr]

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.

Make sure to be 100% certain that the place you are downloading your wallet from is not a scam site.Scammers set up websites for people to download a bitcoin or crypto wallet from (especially electrum wallets) and place malware in the wallets so that when you launch the wallet you have downloaded off their scam site it steals your full balance the moment you send coins to it and transfers them to their criminal wallet address.ONLY DOWNLOAD YOUR WALLET FROM THE CORRECT WALLET PROVIDER OR YOU MIGHT LOSE ALL YOUR COINS!

[leonair]

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.

Electrum is a non-custodial wallet which means that it gives you full access to your private keys. Since electrum is open-source and its code has been reviewed by many people, you can be sure that it's secure enough.

Note that if you want your fund to be completely secure, you should run electrum on an airgapped device. Any online device is always prone to hacking.

Other non-custodial wallets including Electrum only allow the customer to have full control of their funds but also do not guarantee 100% fund security to anyone. But yes it is quite a strong wallet and there are very few complaints from users and it is also not seen to be hacked.  However, besides this wallet, you have to be careful especially from different types of phishing links. Because a phishing link is so dangerous that even a strong security system can destroy it and gain access to it

[rojan]

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.

Electrum is a non-custodial wallet which means that it gives you full access to your private keys. Since electrum is open-source and its code has been reviewed by many people, you can be sure that it's secure enough.

Note that if you want your fund to be completely secure, you should run electrum on an airgapped device. Any online device is always prone to hacking.

Other non-custodial wallets including Electrum only allow the customer to have full control of their funds but also do not guarantee 100% fund security to anyone. But yes it is quite a strong wallet and there are very few complaints from users and it is also not seen to be hacked.  However, besides this wallet, you have to be careful especially from different types of phishing links. Because a phishing link is so dangerous that even a strong security system can destroy it and gain access to it

Electrum and other non-custodial wallets are hacked most of the time due to customer's mistake. I think wallets are hacked through phishing links. If anyone ever sends these phishing links we should stay away from them and never click on the links.  If someone clicks wrongly then the wallet will go under the control of the hack. So we have to be careful all the time and warn everyone.

[Fivestar4everMVP]

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.

Well, I don't know what other users have said, but for me, electrum is a great wallet, it is actually a non-custodial wallet, and I think the wallet is open source too (this I am not very sure) but regardless, electrum wallet is one of the top bitcoin wallets recommended by many, but this is if you do not have plans of going for a hardware wallet like trezor and the likes, hardware wallets are actually the best in terms of security of your bitcoin and maybe other crypto assets you might want to invest in in the future.

I would personally advice you go for a hardware wallet if you intend to hold your bitcoin for a very long time, wallets like electrum, mycelium and the likes are much better used as hot wallet for day to day sending and receiving bitcoin, hardware wallets are best for storing bitcoin as a long term investment.

[Lorence.xD]

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.

Make sure to be 100% certain that the place you are downloading your wallet from is not a scam site.Scammers set up websites for people to download a bitcoin or crypto wallet from (especially electrum wallets) and place malware in the wallets so that when you launch the wallet you have downloaded off their scam site it steals your full balance the moment you send coins to it and transfers them to their criminal wallet address.ONLY DOWNLOAD YOUR WALLET FROM THE CORRECT WALLET PROVIDER OR YOU MIGHT LOSE ALL YOUR COINS!

Exactly, always double check what you are clicking since scammers are exerting effort to make a literally same website for you to get scammed. From my experience, it's from a nft project where they have discord channel posted all the legit links for their social account since it will be posted in their social media all the details. But then suddenly their ig account posted already minting so it already fishy but I saw a lot of people already minted more than 10 ETH+. Checked discord and it's confirmed hacked and fake mint.

Also the ads when you click an illegal site which lead you to another tab, it's already a fake. Don't ever get curious to click anything about it cuz it might be drainer and get your private informations.

[utybbas2]

For now I think electrum and others open source wallets are  a pretty safe bet, just don't go click in any automatic updates popups.