What is the best wallet for storing Bitcoin?

[Deenaxyz]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

[OmegaStarScream]

Trustwallet is a hot wallet, it's only as safe as your devices are. So if you're using it on an infected mobile device or PC, your funds are at risk. Cold wallets on the other hand (e.g hardware wallets) are way more secure. There is nothing wrong with using a hot wallet though (maybe something other Trustwallet), but for large sums of money? Cold wallets are the way to go.

[Deenaxyz]

Trustwallet is a hot wallet. Cold wallets (e.g hardware wallets) are better (way more secure) especially if you're holding large sums of money.

Do you have a reference to a thread that discusses it in a complex way? I want to know more, I'm sure here I can get deeper insight than just reading in news outlets about crypto.

[Amphenomenon]

Trustwallet is a hot wallet. Cold wallets (e.g hardware wallets) are better (way more secure) especially if you're holding large sums of money.

Do you have a reference to a thread that discusses it in a complex way? I want to know more, I'm sure here I can get deeper insight than just reading in news outlets about crypto.

Visit this  board https://bitcointalk.org/index.php?board=37.0 solely about wallet software, going through threads there will give you better insights of making the most reliable for you.

[BitMaxz]

Trust wallets are not as good as cold wallets because trust wallet is supposed to be used only for daily use. If you want to store and hold BTC for the long term then a cold wallet should be the best to store BTC for long-term holding because a cold wallet should never connect to the internet meaning you are far from online attacks.
Like sample Electrum in tails OS this is the best cold storage for BTC.

[NeuroticFish]

For long term storage, especially if you are new and don't know cold storage yet or just want safety and ease of use, hardware wallets are the most popular choice. And a topic on them is here: 56 Hardware Wallets, compared feature by feature

Some more small things, maybe as a start for more to research:
- the OS matters a lot for your question. And you didn't state that.
- imho a good software wallet must be non-custodial and offer all that's needed for use as cold storage too (i.e. use one copy on a device that will never go online as cold storage and another copy as a watch-only online wallet)
- keep in mind that a wallet never holds your coins, only the keys to spend them. This means that you must keep your seed/private keys/backups very safe

[Adbitco]

You can use electrum wallet and I know it's more reliable than trustwallet and is open source wallet.
For altcoin you can use metamask wallet because it support 0x and I believe any token that accept 0x can receive funds from there. But if you must received token from airdrop it's better you install trustwallet that is easier to operate although I know there are many wallets you can used to receive payment from airdrop but let it be an ERC20 or Bsc.

[hosseinimr93]

As any online device is always prone to hacking, it's recommended to go for a cold storage, especially if you hold big amount of fund.
And if you want to use a hot wallet for any reason, you should avoid any close-source wallet like trustwallet. There is no way to know how the keys are generated on trustwallet and whether they are stored on their server or not.

Trustwallet is a hot wallet, it's only as safe as your devices are.

Considering that trustwallet is close-source, it may not be as safe as your device. It's possible that there's a vulnerability in trustwallet that cause people to lose their fund while their device is safe and not infected with any malware.

[khaled0111]

I support Adbitco's suggestion. Since you are looking for a bitcoin wallet, then Electrum is your best choice.
It's a free, open source and non-custodial wallet. I've been using it for years as an online wallet with no problems.
However, you can also set it up to be used as an offline wallet. Here is a guide on how to use Electrum to create a cold storage wallet:
https://electrum.readthedocs.io/en/latest/coldstorage.html

Hardware wallets remain the best choice if you don't mind spending a small amount of money for better security and ease of use.

[promise444c5]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

Trust wallet claimed they used to be an open sourced...they are currently closed source.
The thing is If you really care about privacy  then you can use a non custodial  wallet  like Electrum but that doesn't still guarantee  your coin is still safe because you can still connect to Internet and get alot of stuffs into your device(I beleive you are looking for a wallet to keep your coin safe which is why I'm saying this... it's a little bit off).
The best way to keep your coin safe is using a cold storage, use can harware wallets, set up your a watch only wallet with an airgapped device...

[SatoPrincess]

Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

In addition to what been said by others in the thread, it is also important to note when choosing Bitcoin wallets if the wallet is closed source or open source. Trust wallet is closed source which means you cannot review their code. There are better wallets for bitcoin than Trust Wallet, I personally recommend Electrum. But if you are still considering using Trust Wallet because it supports altcoins, you can use Unstoppable for storing your altcoins.

[Doan9269]

Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Trust wallet is a non custodial but closed source wallet, that alone does not makes it a perfect choice, if it was then an open source non custodial wallet, then we could have seen it as a kind of perfect choice, all i will give you is to choose any wallet that is under a cold storage category because they are non custodial wallet.

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

You may consider any of these wallets

Bitcoin Core
Passport
Electrum
Sparrow Bluewallet

Open Source Hardware Wallets
https://bitcointalk.org/index.php?topic=5288971.0

[tabas]

You're not wrong in using that wallet as most of the newbies think the same way that it's fine to use it but you'll learn the importance of the choice of wallets in the process and the difference between closed and open source. With small amounts to keep in that wallet, I don't think there's anything wrong. But look and read what everyone has been saying if it's about larger funds, you have to choose the better wallet as said the cold wallets that you'd rarely connect to the web, one example is a hardware wallet. This list contains hardware wallets: https://bitcoin.org/en/choose-your-wallet?step=5&platform=hardware
But one of them has been avoided by the community because of the ugly update about its recover feature, the Ledger so cross that out on your list. And for some feedback and discussions about those wallets, you can check the Hardware wallets section for the community's thoughts and experiences about them.

[Pokapoka124]

If you are hodling less than $1000 worth of bitcoins, you can use a hot wallet for storage. But if your bitcoins are above $1000 you should buy a hardware wallet and move your coins there. The safest wallets are open-sourced and airgapped wallets. Like I said before, if your hodlings are small and you cannot afford a hardware wallet, you can also use an open source, non-custodial wallet like Electrum. Hot wallets are prone to attacks since they are on mobile device so it is important you know how to use and secure them. I shared some links below to help you:
The paranoid user's security guide for using Electrum safely.
[Guide] Verify and download Electrum wallet

[Stalker22]

Do you have a reference to a thread that discusses it in a complex way? I want to know more, I'm sure here I can get deeper insight than just reading in news outlets about crypto.

There definitely are forum threads that delve deeper into this.  While I cannot point you to a specific thread at this time, I think a simple search function or Google might get you started.

In the simplest terms, cold wallets are those that never connect online directly. Most often, they are in the form of an external hardware device that is used to store the private keys of your wallet and sign transactions. But they cannot broadcast signed transactions. For that you will need the associated software or a hot wallet.

[SamReomo]

The best wallet for storing Bitcoin in my eyes is Electrum.  I've been using it for many years and I've never faced any issue with it.

If your intention is to store your Bitcoin for long term then you should go for Electrum wallet with an air-gapped system.

[Coyster]

The thing is If you really care about privacy  then you can use a non custodial  wallet  like Electrum but that doesn't still guarantee  your coin is still safe

Using a non-custodial wallet does not give you privacy, what it gives you is control of your coins. If you are concerned about privacy, you will have to use a full node wallet like bitcoin core, or run your own node and connect your SPV wallet to it.

Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

No you are not, the right type of wallet is one that is open source and non-custodial, it should also be offline depending on the amount of bitcoin in your portfolio.

[OcTradism]

they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Hot or cold wallet has different technical characteristics and use cases and depends on your personal need, you will choose a best wallet for yourself.

How do I choose a wallet?
Choose your wallet with filter for OS, demands on privacy, security, custodial, open source
[List] Open Source Hardware Wallets
[GUIDE] How to buy a Hardware Wallet the right way
[List] Wallets supporting Taproot
[List] Multisig Wallets
Bitcoin open source wallets that support replace-by-fee (RBF)

If your need is simple, don't want to run a Bitcoin full node, Electrum is a good choice. You can set up a multisig wallet with Electrum wallet software too.
[Guide] Verify and download Electrum wallet
Creating a multisig wallet

[Peanutswar]

It depends on your purpose for the hot wallet that you will store with your device and keep accessible you can use the electrum wallet they are supported even in the mobile so seed phrase is a must if you want to access your wallet. If you want to use your asset just to hold for a long term ideally use the Trezor or Ledger wallet, personally I'm using a Trezor and I don't face any issue while using this also I can connect with electrum wallet. Other links given already by the members so it's up to you now what you will choose.

[Cricktor]

For convenience and if you don't want to use a decent hardware wallet (don't use Ledger crap), devide your bitcoins into a hot wallet that holds a small amount you could afford to loose by malware or hacking. Larger value goes to cold storage or a hardware wallet.

Preferably use your (hot) wallet on a device which you don't use for your daily internet shit. Avoid Windows OS as a base for your crypto wallet stuff (due to market share it's the main target for malware and hackers). Less exposure, less problems.

Being your own bank comes with responsibilities, educate yourself on computer security and secure handling of valuable data!