Which wallet can i use for my needs

[AirtelBuzz]

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?

I give you a small suggestion that you keep your bitcoins in one wallet and your altcoins in another wallet maybe that's best for you. But it is purely your personal matter.

You can keep your altcoins in trust wallet and you can keep youryour bitcoins in Electrum wallet.

How likely is it to be hacked?

If you are using Trust Wallet then you will surely see that there is a phase of 12 digits while creating the wallet. You need to keep this 12 digit phase safe to keep your wallet safe. If you lose that 12 digit phase and your account is accidentally logged out then you will not be able to login to your account again i.e. your account will be lost. So it is said that, Not your key is not your token.

[strunberg]

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 think Trustwallet is quite trustworthy and safe. So far I have never heard of any hacking on Trustwallet except hacking due to human error such as leaking of the 12 digit phrase provided by them. I agree with the idea of separating your altcoins and your bitcoins and Trustwallet can create multiple wallets. You can store your Bitcoins in wallet A and your altcoins in wallet B. This is quite practical in my opinion. And this is enough for "beginners" as you mentioned at the beginning of the thread.

[Lukmanfirdaus1]

I personally use trust wallet to store altcoins and electrum for btc. Regarding security and the possibility of being hacked, I think the application is very good, there are layers of security and I think it is quite difficult for hackers to penetrate it. The security problem is actually the user's own negligence, such as entering PK on a scam website, claiming random tokens so that the wallet gets drained, swapping tokens in the middle of nowhere and so on. So in the end, wallet security is completely in your hands, hackers take advantage of your negligence to upgrade your knowledge about data security so that your assets remain safe.

[vs2014]

Personally all wallets are safe for me if i can keep the private key and password of your wallet confidential. There are many wallets which are all good but exchange wallet is not very convenient. If you want to save big money then avoid exchange wallet. If your capital amount is high then you can use hardware wallet and if the amount of money is small then you can use trust wallet, coinbase, myetherwallet.

[encryptogon]

As a newbie, I was also confused about the same thing when I read about the possible options. Currently, I am using Trust Wallet and Metamask. I have also read about Electrium, but for me, Trust Wallet is easy to use.

[bayu7adi]

If your capital amount is high then you can use hardware wallet and if the amount of money is small then you can use trust wallet, coinbase, myetherwallet.

Looks like this is the best for you. LIST Multicoin Open Source Wallets

Desktop wallets::

• OneKey desktop wallet
• Stack desktop wallet ^{(coin control, tor)}

• Komodo desktop wallet
• Uniblow desktop wallet
• Cake wallet (MAC) ^{(coin control, tor)}

• Coin wallet

Mobile Wallets:

• OneKey mobile wallet
• Stack mobile wallet ^{(coin control, tor)}

• Komodo mobile wallet
• Cake mobile wallet  ^{(coin control, tor)}

• Unstoppable mobile wallet
• Mycelium mobile wallet
• Coin wallet mobile
• AirGap mobile wallet

Wallets for Bitcoin and Liquid assets L-USDT and L-BTC:

• Aqua wallet
• Green wallet
• Specter wallet
• Jade HW
• Ledger HW

Creating separate Bitcoin wallets and Altcoin wallets is also a good option. Because I prefer Electrum for storing BTC, while for storing altcoins, I put it in one multi coin wallet. What you need to pay attention to when choosing a wallet is that you have to download it from a trusted source, because there are lots of fake and phishing applications circulating on the internet or social media. So, be careful and always verify the application repeatedly.

[God bless u]

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?

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.
It's work very well and no one can move your money.The best thing about it is the authentication that you do any transfer then authentication code will receive to Google authenticator, your money can go out through it. When you have it, no one can take your money out. There is another way to not to get your money out. If you have installed it, no one can hack your account.

[cryptodude]

If you want to store your cryptocurrencies in the most secure wallet available today, definitely use a hardware wallet. Because the hardware wallet will be completely offline which no one else can access and your assets will be safe. And if you are a new Bitcoin user then you can start with Electrum Wallet.

[suzanne5223]

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.

Based on my understanding, the Trust wallet is just an easy-to-use wallet, and when security is the major concern it shouldn't be considered as an option. A friend once sent me USDT using the wallet and the USDT was sent to another wallet. He had to complain to the Trust wallet team before he could get the USDT back.
For a secure and easy-to-use Bitcoin wallet SPV wallet (Electrum is an example) is always considered the best option but for multi-currency, I like the Unstoppable cryptocurrency wallet.

[Tipeform$]

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?

As a newbie you can definitely use Trust Wallet. Trust Wallet is a really good wallet to hold your altcoins and bitcoins. I myself am using this trust wallet as a newbie. This trust wallet is unlikely to be hacked if you don't give your seed phrase to anyone. I have not heard of anyone hacking this trust wallet so far but those who have been hacked have been hacked through their own abuse. However you can safely use trust wallet I think you won't have any problem.

[NicNacCoin]

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?

All the wallets you have heard about as a newbie are very good not only new users but also many senior persons are using these wallets. But out of this I will suggest you to use trust wallet. Trust Wallet is very security complete and has many conveniences to use. As a newbie you can accept trust wallet very easily. But my suggestion for you is don't share your wallet seed phrase with anyone if you share your wallet seed phrase with anyone then you can't use your wallet securely. Can hack your wallet anytime.

[Coyster]

As a newbie you can definitely use Trust Wallet. Trust Wallet is a really good wallet to hold your altcoins and bitcoins. I myself am using this trust wallet as a newbie. This trust wallet is unlikely to be hacked if you don't give your seed phrase to anyone.

Trust wallet may be a good wallet for you to hodl your altcoins, but don't use trust wallet to hodl both your altcoins and your Bitcoins, because it is not a good Bitcoin wallet and you have many good wallet options to choose from.

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.

Stop giving advice to people on matters such as this. An exchange is not a place to keep your assets, it is a place for you to trade your assets. Exchanges are custodial platforms and if you leave your assets in their platform, then they own the coins and not you, if the exchange gets hacked you lose all your assets, if they suspect you of anything, they'll seize your assets too. Make sure to only use wallets that you control to store your assets.

[HajiBagi]

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?

Many wallets have been provided by forum members; these are the wallets you can use to save your bitcoin, but in order to prevent being hacked, you must exercise caution when holding bitcoin. Although wallets are safe, they can still be compromised if you neglect to protect them or hide your secret key. Therefore, saving bitcoin involves more than just having a reliable wallet; it also entails being able to hold your wallet without falling victim to fraud. I'm sure you've heard of many people who have complained about being hacked. These people were hacked because the hackers obtained their private key and gained access to their wallet. Therefore, my advice to you is to keep your private key secure and never share it with anyone. If you don't, you will likely become a victim of cyberattack, and once that happens, there's probably nothing you can do to recover your bitcoin. So, be cautious and wise when handling bitcoin, and never give out your phone number or any other system you use to anyone.

[FinePoine0]

If you just want to choose a suitable wallet for storing bitcoins, I support Electron and Mycelium as software wallets. But since you want to hold Altcoin then you can use trust wallet but password must be stored very securely. Trust wallets are usually encoded with 12 words, so they are very difficult to hack, but you can be at risk if you store passwords in an insecure manner. Mycelium and Electrum wallets will be more secure than trust wallets.

[aTriz]

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.

Electrum is one of the best wallets for bitcoin. but I would advice a newbie to use a wallet which supports bitcoin and altcoins both. Coinomi, or Trustwallet these two would be perfect fit for OP.. while it is not a problem for him to use  multiple wallets but as you said a newbie. then it is better to stick with one wallet until you gain some experience in crypto.
Coinomi and trustwallet both are non custodial. BTW. coinomi works on an electrum seed too. so it should be good for OP.

[GeorgeJohn]

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?

It's not encouraging to use same wallet to accumulate or accommodate your coins, because its advisable to not bag all your eggs with one basket, instead you make a separation and it's necessary, so therefore I will like us to know that if I should choose a bitcoin I will choose Electrum wallet so that my bitcoin will be conserved, but I can use exchange that is reputable for my altcoins knowing the fluctuations of altcoins in the market

Many became confused because of the kind of wallet there are to use for storage of their bitcoin for long-term and also their altcoin for long time, so therefore it is good for someone to investigate properly before storing it bitcoin for a particular wallet so that during the process of long holding or Bitcoin nothing will happen to it nobody will penetrate to such wallet that is why it is advisable to use Electrum

[summonerrk]

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.

Electrum is one of the best wallets for bitcoin. but I would advice a newbie to use a wallet which supports bitcoin and altcoins both. Coinomi, or Trustwallet these two would be perfect fit for OP.. while it is not a problem for him to use  multiple wallets but as you said a newbie. then it is better to stick with one wallet until you gain some experience in crypto.
Coinomi and trustwallet both are non custodial. BTW. coinomi works on an electrum seed too. so it should be good for OP.

I will not write about Trezor or Ledger to a beginner, he will then understand the essence of these difficult wallets for a beginner. I would advise a beginner to use the Wallet Trust specifically. Yes, its code is not open, like Electrum, for example, but the Trust Wallet interface is perfect. Let's not consider it an advantage that it has something to do with Binance, it's nonsense. But a Trust can store a huge amount of coins, while you can stake Ethereum! You only need 0.025 eth and you will get 3.7 per annum.

[teamsherry]

I think you should figure out what you want to use the wallet for, they are numerous wallets that support bitcoin and altcoins like metamusk, electrum etc. So I think if your looking for a wallet with maybe a special feature or something like that.

[Mpamaegbu]

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.

That's not a good suggestion to start with. Exchanges aren't for storing coins/tokens. They're only beneficial for trading. Just buy on them and move to your private wallets, except you're going to be trading them there. If you do trade them on exchanges, make sure not to leave them there for long. Remember, not your keys, not your coins, slogan?

It's work very well and no one can move your money.The best thing about it is the authentication that you do any transfer then authentication code will receive to Google authenticator, your money can go out through it. When you have it, no one can take your money out. There is another way to not to get your money out. If you have installed it, no one can hack your account.

You wrote like one who's VERY new in this industry. Otherwise, you wouldn't be expressing so much confidence in a Cex. Binance may have a great rating now but that doesn't insulate it from the realities of hacks and betrayals. Remember Bitrex, Coinex, Poloniex; just to mention but three; those were the exchanges that dominated the crypto space when I came into it in 2017. Where are they now? Anything can happen in this industry.

[abel1337]

It is better to use Binance Exchange instead of Wallet and its security is very tight and it has a very strong exchange, that is, no one can steal your money, no matter where it is, because its security is very high.

That's not a good suggestion to start with. Exchanges aren't for storing coins/tokens. They're only beneficial for trading. Just buy on them and move to your private wallets, except you're going to be trading them there. If you do trade them on exchanges, make sure not to leave them there for long. Remember, not your keys, not your coins, slogan?

Yep it's a bad advice. Theymos even announced here in this forum to avoid storing our tokens to exchanges as they are not meant to be a wallet. Theymos made us remember it after the FTX scandal where people lost their coins/tokens by storing it at that exchange. It should be a common knowledge in cryptocurrency that exchange isn't supposed to hold our assets, it's a place where we can exchange them for something. Newbies are the one who should learn this at least before venturing out on crypto opportunities.

You wrote like one who's VERY new in this industry. Otherwise, you wouldn't be expressing so much confidence in a Cex. Binance may have a great rating now but that doesn't insulate it from the realities of hacks and betrayals. Remember Bitrex, Coinex, Poloniex; just to mention but three; those were the exchanges that dominated the crypto space when I came into it in 2017. Where are they now? Anything can happen in this industry.

It's work very well and no one can move your money.The best thing about it is the authentication that you do any transfer then authentication code will receive to Google authenticator, your money can go out through it. When you have it, no one can take your money out. There is another way to not to get your money out. If you have installed it, no one can hack your account.

He just doesn't know how tricky hackers are in this days. The examples you mentioned are failed exchanges that supposed to be trusted way back. Even if the google authenticator somehow save you from being hacked, there's a chance that the exchange itself is the risk why your asset will disappear.