Help me choose an Exchange & Wallet Question

[Princess Leah]

The mentioned above crypto related exchanges serves better tasks and have been very important for investors, holders of long term coins and the traders. We know the market is precisely stationed by seasons and hoping to buckled our shoes before the bull season kicks off. As for wallets, there's probably more preferable alternatives to consider in the space perhaps for clarification, it's better to make thorough findings regarding the corner point you're going.

You are right, we'll I don't know if OKX is officially used in the UK but I'm very familiar with it and I enjoyed using their P2P services  before it got delisted for user in my country, well I think Bybit is another good exchange that could be used by traders and their P2P market is very okay, I currently used that since the P2P of Binance and OKX have been banned from users in my country.

 But then I don't advise anyone to hold Cryptocurrency in exchanges especially if you're holding for a long term, maybe on could sell their assets using exchanges but holding is very risky except maybe the person is using it to trade or is buying a Cryptocurrency from an exchange.

 Like you said, their are many alternatives asides exchanges to hold their assets all it just takes is a proper research on wallets that would be very suitable and well secured for holding assets since most exchanges are not very secured.

[armanda90]

I'm looking for a software wallet that supports many different crypto altcoins and different blockchains. Metamask only supports ethereum type coins? What about unstoppable?

Its not trues, metamask not only support with thereum coins but also has polygon, Binance Smart Chain and many new chain available using metamask wallet. I think need specification with your wallet recommended to want such as what kinds of your network coins investment and make easily recommended support wallet for using.
If you want software wallet support with difference crypto you can install trustwallet in your mobile phone without any regulation disallow from government because is not an exchange wallet.

Actually all countries has community with P2P transaction supported on many top exchange market, you can check each exchange has regulation in your country how much transaction volume trough  P2P to make easily when withdrawing your cryptocurrency assets to fiat if get difficult without has local exchange market. I believe all countries has their own community for making transaction trough P2P with Binance, OKX and many top exchange support with P2P transaction feature for selling or buying cryptocurrency assets.

[Potato Chips]

Okay out of Telegram, Discord and Twitter X, which is the best, gets the latest news 1st for crypto altcoins? Which you will choose out of these 3 social platforms or which platform most crypto altcoins use for updates?

They all have their pros and cons, so the best would entirely depend on your use cases.

In my case, I mostly rely on bitcointalk because I'm active on here + members post news as welll, and maybe scroll down on news aggregators couple times a week -- bitcoinmonkey.org, cryptopanic. For some projects I'm following esp the startups which won't likely make it in the news everytime, I just join their discord and I get a push notification for important announcements and other things I opted to be notify of e.g. recaps, giveaways, etc.

[dim_mak5]

Trustwallet is open-source and the phone app version is the same as the browser extension version?

[ThemePen]

You are right, we'll I don't know if OKX is officially used in the UK but I'm very familiar with it and I enjoyed using their P2P services  before it got delisted for user in my country, well I think Bybit is another good exchange that could be used by traders and their P2P market is very okay, I currently used that since the P2P of Binance and OKX have been banned from users in my country.

 But then I don't advise anyone to hold Cryptocurrency in exchanges especially if you're holding for a long term, maybe on could sell their assets using exchanges but holding is very risky except maybe the person is using it to trade or is buying a Cryptocurrency from an exchange.

 Like you said, their are many alternatives asides exchanges to hold their assets all it just takes is a proper research on wallets that would be very suitable and well secured for holding assets since most exchanges are not very secured.

I agree with you about OKX and Bybit being viable options for traders especially when it comes to their P2P services. However I will advise against holding cryptocurrencies on exchanges especially when you have long term investments. Exchanges are vulnerable to security risks and potential to ban as you have experienced in your country. Instead it is good to research and utilize secure wallets that are according to your needs. While exchanges are useful for buying and selling assets it is essential to prioritize  safety of your investments by storing them in reliable wallets. With proper research we can find good and secure alternatives for exchanges for holding our assets.

[Pandorak]

[...]

From the above link, does anyone know whether OKX, Bybit or Bitget cex exchanges are listed in that FCA list or if so they are using different registered company name in that list?

Lastly which multi-crypto software wallet where you control the keys that is compatible with most altcoins and the wallet supports a feature where it notifies you within the wallet/app if a coin you are hodling in that wallet is swapping to an upcoming newer version of a coin for example 1:1 swap for a newer version of a coin and you must do the swap by a certain deadline or if the wallet does the swap for you automatically without manual intervention from the wallet owner? Or if the wallet/app gives you the latest news on that altcoin you hodling in it so can be notified and be well informed in advance. Does any hardware wallets support this also?

[...]

None of the CEXs you mentioned are registered with the FCA.

I'm not an expert or experienced person in altcoins, but it seems like no crypto wallet will tell you (give notification) about version migration on an altcoin, if you invest in altcoins, you have to keep up with developments or at least you have to join their official community, this makes you an investors who are responsible for your investment.

[Potato Chips]

Trustwallet is open-source and the phone app version is the same as the browser extension version?

No, trustwallet is not open source and they have lied about this lol.

Yup. It's closed source, and they lie on their website and elsewhere claiming they are open source when they are clearly not. That should be good enough reason for anyone not to use them.

As I said, they used to be open source, but they moved to a closed source model around 3.5 years ago. Here is a blog post explaining that they only did it to "protect users" : https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
And here are the links to the old Github repositories for their Android and iOS apps, which are both now archived and both last updated 3.5 years ago:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios

Well, they're both trustwallet but there could be differences on a technical level as both are deployed in different platform. BTW, their browser extension has been exploited before, see: https://cointelegraph.com/news/trust-wallet-to-reimburse-users-after-170-000-security-incident

[PX-Z]

Trustwallet is open-source and the phone app version is the same as the browser extension version?

No, trustwallet is not open source and they have lied about this lol.

I second to this one. Trustwallet might have a github repository open to public but it doesn't mean they are totally and fully open source. Remember they are run by a global company that based on profits, so confidentiality is always their (company main enemy.

[dim_mak5]

[...]

From the above link, does anyone know whether OKX, Bybit or Bitget cex exchanges are listed in that FCA list or if so they are using different registered company name in that list?

Lastly which multi-crypto software wallet where you control the keys that is compatible with most altcoins and the wallet supports a feature where it notifies you within the wallet/app if a coin you are hodling in that wallet is swapping to an upcoming newer version of a coin for example 1:1 swap for a newer version of a coin and you must do the swap by a certain deadline or if the wallet does the swap for you automatically without manual intervention from the wallet owner? Or if the wallet/app gives you the latest news on that altcoin you hodling in it so can be notified and be well informed in advance. Does any hardware wallets support this also?

[...]

None of the CEXs you mentioned are registered with the FCA.

I'm not an expert or experienced person in altcoins, but it seems like no crypto wallet will tell you (give notification) about version migration on an altcoin, if you invest in altcoins, you have to keep up with developments or at least you have to join their official community, this makes you an investors who are responsible for your investment.

That's the non-hack, non-scam risk of hodling altcoins in your own wallet that you control for lets say 2-3 years and when you come back to your wallet your altcoin becomes worthless because you didn't swap it for their new version coin by a certain deadline. Nearly 95% of altcoins go through a re-branding with a different logo and release a new version of their coin and to get the new version you have to swap your old version for it. I bet hodlers lost $millions because of this reason alone. I find it shocking that software wallets nowadays that are connected to the internet do not notify the hodler of any latest news even thought the software wallet has the capability to do so and this gives software wallets the only advantage over cold hardware wallets. Hodlers just want to Hodl and have no time manually googling their favourite cryptos everyday for the latest news you know what I mean otherwise they might as well become day traders.

Okay out of Telegram, Discord and Twitter X which community gets the latest news 1st?

[dim_mak5]

Trustwallet is open-source and the phone app version is the same as the browser extension version?

No, trustwallet is not open source and they have lied about this lol.

Yup. It's closed source, and they lie on their website and elsewhere claiming they are open source when they are clearly not. That should be good enough reason for anyone not to use them.

As I said, they used to be open source, but they moved to a closed source model around 3.5 years ago. Here is a blog post explaining that they only did it to "protect users" : https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
And here are the links to the old Github repositories for their Android and iOS apps, which are both now archived and both last updated 3.5 years ago:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios

Well, they're both trustwallet but there could be differences on a technical level as both are deployed in different platform. BTW, their browser extension has been exploited before, see: https://cointelegraph.com/news/trust-wallet-to-reimburse-users-after-170-000-security-incident

Okay which multi-crypto open-source software wallet you recommend or which open-source hardware wallet support 1000s of different blockchain cryptos not 1000s of the same chains like Ethereum ERC-20 tokens or different Binance BNB tokens under the same blockchain?

Shall I assume that browser versions of a wallet or anything is less secure in nature compared to their bigger file size full app standalone install versions?

[dim_mak5]

Trustwallet is open-source and the phone app version is the same as the browser extension version?

No, trustwallet is not open source and they have lied about this lol.

I second to this one. Trustwallet might have a github repository open to public but it doesn't mean they are totally and fully open source. Remember they are run by a global company that based on profits, so confidentiality is always their (company main enemy.

That global company is Microsoft right? So any open source project listed on Github is potentially not open source because Microsoft owns github?

[mk4]

Contracts whether they are genuine or malicious are hard to read & understand and ledger users will most likely end up approving/signing the contract with their device. Hardware wallets should have built in malicious code detection kinda like for example anti-virus or malware detection. There's no anti detection in any hardware wallets which is shocking considering the amount of money these hardware wallets costs.

Broski a Ledger Nano S Plus is like $70? That's more than affordable enough.

Also, having a "built in malicious code detection" is a lot harder to do than you think. The viable way to do it is to show warnings when contracts you're interacting with are new or have little to no users, which is achievable by using Ledger+Rabby wallet extension.