Which wallet can i use for my needs

[leonair]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

Trust Wallet is a Non Custodial wallet but is it not much safer. if you want your best security for your asset specially for bitcoin then. you can use electrum wallet. which is very secure. But if you want to deposit a small amount of assets and know how to receive different types of tokens there, you can use Trust Wallet. Because you can support all types of blockchain tokens in Trust Wallet.  It is token friendly.

[dderekwalcott]

Choosing the right wallet is your choice but the technical comfort depends on the security you want.It is often recommended for beginners to start with a user-friendly wallet, perhaps on a reputable exchange, and gradually explore more secure options as they become more familiar with the technology.We know to always prioritize security and to backup private keys or seed phrases securely.But even if you are aware, sometimes you have to face loss through hacking.I use trust wallet but recently I found out there are 84.02 million crypto currency wallets in use in the world and they are providing different types of security.I hope the senior members of the forum will discuss in detail about the complexities of wallets. for e.g. how segwit wallet work and the difference among other wallet like Trust wallet, Bitcoin wallet,Coinbase wallet etc.

[Y3shot]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

If you want to store your bitcoin I want advice you to store Bitcoin in exchange wallet,  you can use a wallet like a non custodial wallet which is the best for storing Bitcoin. Don't risk your bitcoin by leaving it in exchange you can do that with altcoins because most of altcoins can only be gotten from exchange.  Bitcoin is too valuable to in exchange because anything can happen to exchange that you can lose your money like we have seen sometime ago.

[LDL]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

Since you are a newbie, choosing a wallet is an important thing for you but you can definitely choose a popular wallet for your cryptocurrency storage. But you can choose Electrum wallet, Blue wallet as Bitcoin wallet for single Bitcoin storage. These wallets are very secure and popular as a newbie you can choose any of the above two wallets. For each wallet you must collect Seedphase properly to ensure the security of your wallet.
But you can select any one of your choice from Trust wallet, Mycelium wallet, Coinbase wallet, myetherwallet, Exodus wallet, Blockchain.com wallet as multi currency wallet because each wallet is very convenient to use and as a newbie you can use it well. Every wallet's security system requires you to store your ricks.

[Luffygroove]

I think there are two popular types of wallets for cryptocurrencies. First, we have hardware wallets like Ledger and Trezor, these are physical devices keeping your crypto offline for added security. Then, there are software wallets, which can be accessed online. Now, in the software category, you've got custodial wallets (managed by third parties like exchanges) and non-custodial wallets (where you control your private keys). Examples include MyEtherWallet, Trust Wallet, and SafePal. For extra safety, hardware wallets are top-notch, but if you prefer online, non-custodial ones are great – just manage those private keys carefully. Always stay vigilant online and protect your assets from phishing and other internet risks. Safety first!

[Marvelman]

I think there are two popular types of wallets for cryptocurrencies. First, we have hardware wallets like Ledger and Trezor, these are physical devices keeping your crypto offline for added security. Then, there are software wallets, which can be accessed online. Now, in the software category, you've got custodial wallets (managed by third parties like exchanges) and non-custodial wallets (where you control your private keys). Examples include MyEtherWallet, Trust Wallet, and SafePal. For extra safety, hardware wallets are top-notch, but if you prefer online, non-custodial ones are great – just manage those private keys carefully. Always stay vigilant online and protect your assets from phishing and other internet risks. Safety first!

I believe you are confusing some concepts here. There's more than just two kinds of crypto wallets out there.  For starters, you've got paper wallets and other types of physical wallets too.

Hardware wallets are definitely among the most secure.  They keep your private keys offline so your coins don't get hacked or hit with malware.  But most hardware wallets still need some kind of software to work, whether on your computer or smartphone.  Like you can use a hardware device with the Electrum wallet for example - thats a a non-custodial software wallet by itself.  And get this - not every software wallet needs an internet connection either.  You can download Electrum onto an offline device to sign transactions without ever going online.  Much more secure.  I also think it's confusing when exchanges get lumped into the wallet category. Thats not their primary purpose.

[aTriz]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

Trust wallet is a Good wallet. it supports Bitcoin and almost every major Altcoins as well as EVMs which means you can add custom tokens too.  so it is good enough for your needs. now speaking of wallet's security then that is totally up to you.
It depends on how you handle your Keys and also what do you do with that wallet. Keep These things in your mind:
1: Don't Store your Seed Phrase and Private Keys Online or/and On a Digital Device that has Access to the Internet (Mobile or laptop) Write them down in your Diary or somewhere offline.
2: Don't use random Dapps and Dexs, and don't connect your wallet with any web3 websites especially if you don't know about them. a lot of dapps are scams and will drain wallets if connected and given authorizations.

if you want to be more secure and have a lot of funds in crypto then you should go for an hardware wallet.

[GigaBit]

Choosing a reliable wallet before holding bitcoins is an important task for a bitcoin investor. If you are able to maximize the security of your assets in the beginning then you will be able to hold bitcoins for a long time risk-free. However, it is important to keep in mind that a wallet's seed and keys are very important to keep when storing bitcoins. No matter how good a wallet we use, if we cannot keep these secret keys safe, we will lose our assets. If we store in top level wallets for holding bitcoins there will be no negative effect if personal security matters are safe. Most of the times especially in the case of newbies, they loss keys or phrases and may stolen due to carelessness and thus they lose their bitcoin. I can't blame any service provider for that indecent.

[carbone9090]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

I'm using Coinomi Wallet, Coinbase Wallet, Trust Wallet, Metamask. Not problem at all. You can choose any wallet you like. Just keep your system in safe, use antivirus etc

[sokani]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

I'm using Coinomi Wallet, Coinbase Wallet, Trust Wallet, Metamask. Not problem at all. You can choose any wallet you like. Just keep your system in safe, use antivirus etc

Aside metamask wallet, the other wallets should be avoided like a plague. The fact that you've not lose your funds yet doesn't make them safe.

With Coinomi and trust wallet you've self custody but they're closed source wallet, a hacker could exploit a vulnerability in the code and steal your funds. Coinbase wallet on the other hand does not give you custody of your funds, the exchange is in charge of it. If it gets hacked, shutdown or go bankrupt, you could lose your funds.

[Pi-network314159]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

For safety reasons I sudjest you use blue wallet or electron wallet. Those two are Dex wallet and people love them because they are anonymous you can do multiple transactions without kyc.

[wtsimis]

Always prioritize security and choose a wallet to be a good source for protecting your assets. Based on the need like if it comes to cryptocurrency savings then there are devices of choice like desktop, mobile, hardware etc. But you should prefer wallets that have certain features like security, user interface and anonymity. Hardware wallets are the most secure for Bitcoin and other cryptocurrencies. But for ETHERUM based tokens Exodus or MyEtherWallet can be used. There are also Electrum, Ledger Nano S and Tezor for Bitcoin storage.

[Coyster]

I'm using Coinomi Wallet...

Coinomi wallet is slowly going extinct, if you do some research online you'll find out that so many of their customers are going crazy with the number of issues with this wallet, some cannot spend their coins, others are having problem with synching, et cetera. It is also a closed source wallet, so better send your funds out of Coinomi.

Coinbase wallet on the other hand does not give you custody of your funds, the exchange is in charge of it. If it gets hacked, shutdown or go bankrupt, you could lose your funds.

Mind you that Coinbase wallet is different from a wallet in Coinbase.com. Coinbase wallet is a non-custodial wallet, whilst the other is a wallet in their exchange which is obviously custodial.

[jrrsparkles]

I will say Electrum is more suitable for a newbie due to its popularity and simple UI/UX. But choose your bitcoin wallet based on multiple factors via: Choose your Bitcoin wallet

For altcoins, you can refer replies from Open source multi crypto wallets!


Your wallet must provide private keys/seedphrases and it should be open source.

[HONDACD125]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

Securing cryptocurrency is very important, because you cannot fully trust any exchange.I think nowadays all wallets whether they are soft wallets or hard wallets support bitcoin and all cryptocurrencies.Among the soft wallets I trust trust wallet the most even though it is widely considered to have high chances of hacking.If done carefully, the risks of hacking are very low as most people connect their wallets everywhere or click on every link which increases their hacking concerns.

However, I consider hard wallets to be the safest for most cryptocurrencies and bitcoins, and I'm personally using a safepal wallet where I store all my cryptocurrencies.There are also different brands of hard wallets available in the market which you can easily order from their official website,but they are quite expensive compared to safepal wallets.

[Pi-network314159]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets.

There are many Dex wallet to use in storing bitcoin and altcoin apart from the trust wallet you made mention of. We have electron wallet, blue wallet metaask and many more . That trust wallet

How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

Trust wallet is reliable but the transaction fee is high and something it is affected by liquidity. Talking of hacking, I believe it can only be possible if you misplaced your pass phrase or key.

[Mpamaegbu]

I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

I don't think it's a good idea to use Trust Wallet for Bitcoin. Yes, it can be added there but you can't swap it there on a DApp. So, what's the use? Well, that's in addition to what people say about TW being a closed source app and could be easily manipulated.

I will advise you to use a separate wallet for storing your bitcoin and a separate wallet for your altcoins.

It's most advisable to use separate wallets for Bitcoin and altcoins...

From where I stand, the reason I support this is because gathering Bitcoin in crypto wallets that support alts which can be swapped in interaction with scam sites on DApps can be easily compromised and the wallets wiped off. If that happens, that means everything in that wallet is gone. Bitcoin should be treated differently in single wallet to minimize such an incident. Electrum is great but I think it's a bit confusing to use for beginners. Anyone downloading it should be sure to get it from its official site and link to Playstore or IOS. There are many fake electrum wallet apps out there. Bluewallet is ok too but I don't know why people hardly talk about it.

[DVlog]

As a newbie which wallet i can use and will that wallet support bitcoin and other altcoins? I know some wallet names like Coinbase Wallet, Trust Wallet, MyEtherWallet but as a newbie which wallet can I use to keep my assets safe. I have heard a lot of people using trust wallets. How trust wallet is reliable for holding bitcoins and other altcoins? How likely is it to be hacked?

Non custodial wallet is the safest and as you want to have bitcoin and other altcoin together, you need to use a multi wallet. If you are a PC user then rabby wallet extention works fine. This extension is way better than a metamask and in here you can store all the EVM based token but you cannot store bitcoin. Exodus can be used to store bitcoin and major altcoin from the market and they have some useful features that can be really helpful for a newbie. Not sure you can afford hardware wallet or not thats why didn't bother to mention any.

[reagansimms]

Often newbie asks about the security of wallet (software), even though maintaining a private key security is also very important. The software mentioned above such as trust wallet, and other cryptocurrency wallets are commonly used by crypto asset users but have certain risks and dangers. Although Wallet Software applies strong security measures, there is no system that fully limits hacking. Then you must be careful of phishing sites and fraud that can deceive you to reveal information on your wallet.

The most important thing is to maintain a private key security, if you lose access to a personal key or recovery phrase, you can lose access to your assets permanently. The idea of storing Bitcoin in a separate wallet from Altcoins also needs to be pursued to increase asset security, maybe Electrum is the right choice for storing your Bitcoin.
 

[Ever-young]

Trust Wallet is a Non Custodial wallet but is it not much safer. if you want your best security for your asset specially for bitcoin then. you can use electrum wallet. which is very secure. But if you want to deposit a small amount of assets and know how to receive different types of tokens there, you can use Trust Wallet. Because you can support all types of blockchain tokens in Trust Wallet.  It is token friendly.

Even for smaller amount of coins I’m still very much against that having different kind of crypto both Bitcoin and other crypto on the same wallet because if the wallet is affected by any form of hack as a result of airdrop or any form of activities that can result to stolen of funds everything in that wallet will be affected.

I do recommend same bitcoin wallet that you do and Metamask wallet for Altcoins so that bitcoin can be on separate wallets why Altcoin on other wallets, you don’t need to connect bitcoin wallet to any dapp as as result of claiming anything such is not common on bitcoin.