What is the best wallet for storing Bitcoin?

[RockBell]

Trust wallet is good but not completely reliable, it is only safe if your device is safe, once someone get access to your phone or laptop, your wallet can get hacked; it is a closed source hot wallet.
There are better wallets to be used than Trust wallet; Electrum wallet is very good for holding Bitcoin than Trust wallet since in trust wallet you can hold altcoin that are literally not completely safe because even the team can be strange at times; therefore, for easy access, use Electrum or Bluewallet to hold your bitcoin, but if you can afford offline wallets they are perfectly good because any wallet online is prompt to hack.

To some extent, trust wallet is in the bad, and I suppose even if someone will have access to your phone, you may create a passcode that would prohibit the person from having access to your trust wallet instead of your wallet being open without a passcode, as you mention. If your devices are safe, so are your assets, because some people are really reckless with their equipment. Because I have actually used trust wallet and have never had a security compromise. The only time I've encountered it was when I lost my seed phrase on it due to my negligence, and I no longer had access to my assets, and from that day forward, I realized the value of keeping your seed phrase safe. if it is bitcoin then electrum also a very good option to consider, I will agree with that since I’ve used both electrum and trust wallet, then for altcoin trust wallet is a good option to go with the great wallet that can be used. The most important thing is for your assets to be safe, because keeping your assets in your wallet is better than keeping it in an exchange, but you know how Lazy we can be and that is a very bad habit keep your assets in an exchange, which is not safe because exchanges can be attacked and so many reasons you should not keep your money their.

[ChocolateBitcoinK]

Personally, I will choose Trust Wallet, because Trust Wallet has high security and is very comfortable to use. I am sure, you will get a lot of comfort using trust wallet.

[Antotena]

Personally, I will choose Trust Wallet, because Trust Wallet has high security and is very comfortable to use. I am sure, you will get a lot of comfort using trust wallet.

Trust wallet doesn't have a high security. It's just like other wallets out there and I don't even like it because it's closed source and the public wouldn't be able to review everything about the wallet. There are also high complaints from Trust wallet users, they complained of how transactions are authorized from their wallet, I don't know how true this allegations are but if the wallet is open source, people would have been able to check properly if there is any red flag.

You should used simple software wallet like Blue wallet, Electrum wallet and Bitcoin wallet. This wallet are open source and you can comfortably use them without any problem and you should know that your security doesn't comes from the wallet as they are connected to the internet, you should be your own security and make sure your wallet is properly back up and keep in a safe place.

[Coyster]

Personally, I will choose Trust Wallet, because Trust Wallet has high security and is very comfortable to use. I am sure, you will get a lot of comfort using trust wallet.

What do you call "high security", a wallet is either hot or cold; non-custodial or custodial or open source or closed source; your security now depends mostly on you. That being said, closed source and/or custodial wallets are not the best wallets to use, and trust wallet is a closed source wallet, which of course its code cannot be reviewed by its users. Remember what happened to some of Atomic wallet users, which is a closed source wallet, so to avoid that, try as much as possible to use an open source wallet.

[khaled0111]

Personally, I will choose Trust Wallet, because Trust Wallet has high security and is very comfortable to use. I am sure, you will get a lot of comfort using trust wallet.

It true that there are no valid reports about funds being lost/stolen from trustwallet due to low security (at least none that I've heard of), but this is not enough to say it "has high security". Just because it didn't happen yet, diesn't mean it won't ever happen.
As long as its code is not open source, you can't be sure about how secure it is.
Since the code wasn't audited by independent third parties, you should use it only if you trust the developers.

[Odohu]

Personally, I will choose Trust Wallet, because Trust Wallet has high security and is very comfortable to use. I am sure, you will get a lot of comfort using trust wallet.

I have read in many parts of this forum that Trust Wallet is closed source which means it is not safe as third party can access your wallet. I have also searched if similar thing can be said about Electrum wallet but there is none which mean it is an open source wallet and a good one for you to use since you control the private keys and not third party. The key thing to consider about choice of wallet is if you control the private keys or not and if it is open source or not. Nevertheless, hardware wallet is the best to use since it is not connected to the internet always, hence the security is higher.

[hosseinimr93]

I have read in many parts of this forum that Trust Wallet is closed source which means it is not safe as third party can access your wallet. I have also searched if similar thing can be said about Electrum wallet but there is none which mean it is an open source wallet and a good one for you to use since you control the private keys and not third party.

It's not that you don't have control over your private keys in trustwallet or they definitely have access to your wallet. Both trustwallet and electrum are non-custodial and give you access to your private keys.
Trustwallat being close source means that we don't know how the keys are generated and whether the keys are stored on their server or not.

[Sonia_123]

Hardware wallet is the best for storing and securing your Bitcoin ,and in terms of security,it gives optimum best security but very expensive to get, therefore as a newbie or you are just starting to save your Bitcoin in a wallet,it is adviceable to use a desktop wallet(electrum) first ,before moving to hardware wallet if you have gotten enough amount of Bitcoin. The Bitcoin you spend on a daily basis should be kept on a desktop while the one for long-term savings should be kept in a hardware . But if you still can't have access to any of these two financially, you should make use of mobile wallet (electrum),it is good for a start, before getting your desktop or hardware.

[Deenaxyz]

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.

Thank you, while I'm writing this, some good users already gave me some directions on where to go by providing some links that I could us

Big help from Doan9269 and OcTradism, I'll make a good use of it.

[Z_MBFM]

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 is a Non-custodial wallet but it is not a reliable  wallet for big amount of bitcoin. Electrum wallet is a widely used Bitcoin wallet which is known as a trusted and very strong wallet so far. so if you want to hold a large amount of Bitcoins, you can choose Electrum. Because big whale holders use electrum wallet as software wallet. or you can also go for hardware wallets. But whatever wallet you use, always keep your wallet key safe. Because if you don't have private key you can't access your bitcoin wallet. or if someone else gets your private key, they can transfer your bitcoins that cannot be recovered by any way.

[Coyster]

so if you want to hold a large amount of Bitcoins, you can choose Electrum. Because big whale holders use electrum wallet as software wallet.

I don't know how you know the wallet that bitcoin whales use, or if you know that electrum wallet is an online wallet and is not the best choice for keeping a large amount of your bitcoins. If you want to use electrum to store a large amount of your assets, you have to use electrum offline, and not everyone, particularly newbies, can do that.

[Abbatty]

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.

There is no need to be confused, you should try and understand them properly and identify what type of wallet you’re using first only then will you be able to figure out if you are using the right wallet to store your bitcoins. 

Do you even know what Hot and Cold wallet are? In simple terms Hot wallets are wallets connected to the internet while cold wallets are wallets not connected to internet so basically Trust wallet is a hot wallet. Although the risk of wallets connected to the internet is higher and they are more likely to be compromised than cold wallets so ideally trust wallet is not the best wallet option to store bitcoin. Even among other hot wallets there are complaints about trust wallet security and how they are easily compromised and the fact that it is a multi coin wallet makes it an easy target for scammers. I advise you switch to a different and more secure wallet to store your bitcoin like blue wallet or Electrum Wallet

Trust Wallet is a Non-custodial wallet but it is not a reliable  wallet for big amount of bitcoin. Electrum wallet is a widely used Bitcoin wallet which is known as a trusted and very strong wallet so far. so if you want to hold a large amount of Bitcoins, you can choose Electrum. Because big whale holders use electrum wallet as software wallet. or you can also go for hardware wallets.

There are are different suitable coins for each devices but when you hold a large amount of bitcoin then you should consider using cold Wallet

[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.

There is no need to be confused, you should try and understand them properly and identify what type of wallet you’re using first only then will you be able to figure out if you are using the right wallet to store your bitcoins.  

Do you even know what Hot and Cold wallet are? In simple terms Hot wallets are wallets connected to the internet while cold wallets are wallets not connected to internet so basically Trust wallet is a hot wallet. Although the risk of wallets connected to the internet is higher and they are more likely to be compromised than cold wallets so ideally trust wallet is not the best wallet option to store bitcoin. Even among other hot wallets there are complaints about trust wallet security and how they are easily compromised and the fact that it is a multi coin wallet makes it an easy target for scammers. I advise you switch to a different and more secure wallet to store your bitcoin like blue wallet or Electrum Wallet

Trust Wallet is a Non-custodial wallet but it is not a reliable  wallet for big amount of bitcoin. Electrum wallet is a widely used Bitcoin wallet which is known as a trusted and very strong wallet so far. so if you want to hold a large amount of Bitcoins, you can choose Electrum. Because big whale holders use electrum wallet as software wallet. or you can also go for hardware wallets.

There are are different suitable coins for each devices but when you hold a large amount of bitcoin then you should consider using cold Wallet

Thank you for your kind explanation, pardon me for asking such question.
I have read several topics which have given to me by other kind users, you just added more information that I might be needed in term of safer choice in choosing better hot wallet in term of security, now I will look into blue wallet and electrum wallet  and learn how to use it.

[ndutndut]

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.

There is no need to be confused, you should try and understand them properly and identify what type of wallet you’re using first only then will you be able to figure out if you are using the right wallet to store your bitcoins. 

Do you even know what Hot and Cold wallet are? In simple terms Hot wallets are wallets connected to the internet while cold wallets are wallets not connected to internet so basically Trust wallet is a hot wallet. Although the risk of wallets connected to the internet is higher and they are more likely to be compromised than cold wallets so ideally trust wallet is not the best wallet option to store bitcoin. Even among other hot wallets there are complaints about trust wallet security and how they are easily compromised and the fact that it is a multi coin wallet makes it an easy target for scammers. I advise you switch to a different and more secure wallet to store your bitcoin like blue wallet or Electrum Wallet

As a beginner, of course at first you must be confused because there are so many types of wallets, I was also like that at first OP was very confused in choosing the right and good wallet. However, after I understood little by little about all the wallets that exist, the Trust Wallet wallet does have a weakness because the wallet is closed source because we don't know how the Phrase seed is made. So I also switched from the Trust Wallet wallet to the Blue Wallet which is widely recommended by members here.

Actually there is Electrum and I have also tried it, but because I rarely use a laptop, Blue Wallet is my current choice. Because Blue Wallet is easier to access via smartphone than Electrum, this is my personal opinion. However, this depends on each individual which is the most comfortable, what is clear is that OP must switch from the Trust Wallet wallet to the Electrum wallet or Blue wallet so that your assets are safer, especially if you store them for the long term.

[NicNacCoin]

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.

You can use Electrum wallet, Blue wallet, such wallets to store bitcoins. But since you are using a trust wallet you are not going wrong. If you can safely keep your wallet seed phrase then you can definitely use trust wallet. I myself have used electrum wallet and trust wallet as well. All are safe but you must keep the wallet keys very safe otherwise any wallet will not be safe for you to hold any investment.

[sunsilk]

now I will look into blue wallet and electrum wallet  and learn how to use it.

They are good wallets.

And always check the website before you download if it's the official one. Because there are too many fake websites that are copying these good wallets, so kindly verify it first.

But for your reference, this is their official link:

Warning: Do not download Electrum from another source than electrum.org. Verify GPG signatures.

[Ishicryptic]

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.

You can use Electrum wallet, Blue wallet, such wallets to store bitcoins. But since you are using a trust wallet you are not going wrong. If you can safely keep your wallet seed phrase then you can definitely use trust wallet. I myself have used electrum wallet and trust wallet as well. All are safe but you must keep the wallet keys very safe otherwise any wallet will not be safe for you to hold any investment.

For a large amount of Bitcoin it is better to store in a cold wallet, no doubt about that because it is not connected to any online device, all you need to do is secure your private keys. When it comes to hot wallet for smaller amount of Bitcoin in Satoshi, the best wallet as far as I'm concerned are electrum and bluewallet, I will recommend them to anybody that is looking for hot wallets to choose from. I believe that trustwallet is also good but my preference are the two that I mentioned although the most important thing to note about any wallet of choice is to secure your private keys and seed phrase, hide them in more than one place because they are the only proof of ownership to your coins in the Blockchain.

[Coyster]

You can use Electrum wallet, Blue wallet, such wallets to store bitcoins. But since you are using a trust wallet you are not going wrong. If you can safely keep your wallet seed phrase then you can definitely use trust wallet. I myself have used electrum wallet and trust wallet as well. All are safe but you must keep the wallet keys very safe otherwise any wallet will not be safe for you to hold any investment.

It is wrong to keep your bitcoin in trust wallet. Trust wallet is a non custodial wallet, but it is a closed source wallet, and in closed source wallets you cannot verify the code and you cannot be sure of what is going on behind the scenes. You could do everything right in keeping your funds safe, but you can still end up losing it just because you use a closed source wallet, like it happened to Atomic wallet users.

[Catenaccio]

It is wrong to keep your bitcoin in trust wallet. Trust wallet is a non custodial wallet, but it is a closed source wallet, and in closed source wallets you cannot verify the code and you cannot be sure of what is going on behind the scenes.

One of most important security advises when choosing a Bitcoin wallet is

Open source
With Open source, a wallet can not set up backdoors without detection from Bitcoin community. So with ability to reproduce an open source wallet from source code, back doors can be detected and community will warn to stay away from an open source wallet with back doors.

How do I choose a wallet?

This short video has explanation that choosing a good wallet to use is individual task and each person will have different taste but if they want security, they will have better wallet to store their bitcoins.

[I_Anime]

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.

Well when it comes to holding bitcoin for long-term, hardware wallet is actually the best . But you know anything with advantages also have disadvantages, so one of the disadvantages is that is too expensive. But I don't actually vibe trust wallet though is a noncustodial wallet, is still prefer blue wallet and electrum . And it will also help to separate your bitcoin asset from your other assets iif you have any Inthe Trust wallet.