Bitcoin Discuss

[Smartvirus]

1- Is wallet have to do something with transaction speed? i have a trust wallet ( but in another topic that i open, someone says that I can pick a high fee to make it fast but there isn't )

You just didn’t get what the person advised but then, wallet have got nothing to do with the speed of your initiated transaction. The most wallets can do for you is to hodl your coins and then, the level of security your coin gets is up to how private you keep your security details.

2 - is their BTC staking? i saw some website offering that but mostly are scam so i prefer someone from here tell me

I think bitcoin has got just a good enough liquidity to operate with and as such, sites offering staking options could be as well luring you into something you might not benefit from in the long run. Staking isn’t the way no more for bitcoin and your better not looking out for small gains and just hodl on non custodial wallet till the bullrun comes.

3 - what is the best wallet for Bitcoin

For most, I think Electrum but, you could as well sort options with cold storage for long term hodlings and of a huge amount.

[boyptc]

1. AFAIK, most wallets have a way to adjust the fees so if a wallet doesn't allow to adjust the fee then that will affect the speed of your transaction. We don't want our txs to get stuck so use wallets that allows you to adjust fees.

Wallets may not estimate the fee correctly, it is good to use the mempool to check the fee. https://mempool.space is an example.

Right, and that's why we need to manually check it as well when we do transactions. Crazy as it may seem, some transactions could stuck forever if not paid the right fee.

3. Electrum if you don't have an hardware wallet.

Electrum as an online wallet for low amount of bitcoin. If you want to use Electrum for more amount, use it on an airgapped device

https://electrum.readthedocs.io/en/latest/coldstorage.html

There is this description of an online wallet that contradicts of what Electrum is. As for keeping huge amounts, I've done in the past with significant amounts there and didn't experienced anything bad but it's still recommended as you've said to use an airgapped device and hardware wallet if possible.

[Charles-Tim]

The most wallets can do for you is to hodl your coins and then, the level of security your coin gets is up to how private you keep your security details.

Bitcoin is stored on the blockchain. Wallets hold the keys and addresses that are necessary for spending the coins.

For most, I think Electrum but, you could as well sort options with cold storage for long term hodlings and of a huge amount.

You can use Electrum to create a paper wallet offline or used it permanently on an airgapped device.

Crazy as it may seem, some transactions could stuck forever if not paid the right fee.

Use a good wallet that will not keep rebroadcasting the transaction, you would have been able to rebroadcast it if it remain unconfirmed after 14 days because almost all nodes would have dropped it from the mempool.

[Lucius]

Use a good wallet that will not keep rebroadcasting the transaction, you would have been able to rebroadcast it if it remain unconfirmed after 14 days because almost all nodes would have dropped it from the mempool.

Just to add that it should also be taken into account that most non-custodial wallets have an option called RBF (replace by fee), and that everyone who does BTC transactions should know that if this option is enabled, they can react at any time and increase the fee and thus give the transaction a higher priority. What confuses some people about this option is that they think they are paying for the transaction twice, but of course the old transaction is canceled by creating a new one, that is, by confirming the transaction with a higher fee.

[DYING_S0UL]

Wallet has nothing to do with speed. It's all about gas fee. If you pay less your transaction speed would be slow if you pay higher gas fee your transaction speed would be much faster.

Simple

[Charles-Tim]

Just to add that it should also be taken into account that most non-custodial wallets have an option called RBF (replace by fee)

Exactly. I do not recommend any wallet that do not support RBF. There are many bitcoin wallets that are reputed and open source that support RBF.

Wallet has nothing to do with speed. It's all about gas fee. If you pay less your transaction speed would be slow if you pay higher gas fee your transaction speed would be much faster.

Mempool congestion also matters, if the mempool is not congested, you may pay low fee and the transaction may be confirmed fast.

There is nothing called gas fee if it is about bitcoin transaction. It is either you call it transaction fee or fee.

[DYING_S0UL]

Wallet has nothing to do with speed. It's all about gas fee. If you pay less your transaction speed would be slow if you pay higher gas fee your transaction speed would be much faster.

Mempool congestion also matters, if the mempool is not congested, you may pay low fee and the transaction may be confirmed fast.
There is nothing called gas fee if it is about bitcoin transaction. It is either you call it transaction fee or fee.

Thank you for clearing my mistake. I commented for I faced similar issue in the past. Sometimes when the given fee is so low the transactions would get stuck or be very slow for me. So by that prospective I though it was all about gas fee. You know how priority works right!

Thanks anyway, I will surely look into the mempool congestion term.

[Charles-Tim]

Hardware Wallets: These are considered one of the most secure options, as they store your private keys offline. Popular hardware wallets include Ledger Nano S, Ledger Nano X, and Trezor.

The best hardware wallet for bitcoin for now is Passport.

Ledger Nano is not recommended, it is a close source wallet, Ledger do not care about their customers personal information, the company do not care about their customers privacy. Ledger make third-party seed phrase backup possible. Seed phrase backup should remain known only to people, not third parties.

For the one that support multicoins, Trezor.

Software Wallets (Desktop/Mobile): These are applications that you install on your computer or smartphone. Examples include Electrum, Exodus, and Coinomi. Make sure to choose wallets from reputable sources to avoid scams.

Exodus and Coinomi are both close source. Not recommended.

Multisignature Wallets: These wallets require multiple private keys to authorize a transaction, adding an extra layer of security. Copay and BitGo offer multisig wallet options.

Electrum and Sparrow are recommended.

The bitcoin wallet that I can recommend are Bitcoin Core for full node, Electrum, Sparrow, Specter and Bluewallet.

There are some other wallets: https://bitcointalk.org/index.php?topic=5422456.0