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Author Topic: What wallet you use for hold Bitcoin?  (Read 227 times)
salad daging
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September 23, 2024, 10:02:26 AM
 #21

Electrum is the most trusted wallet used for their bitcoin HODL, in the past they used this wallet because over time the investment grew, so they bought a Trezor hardware wallet and here they store many assets including bitcoin as the mainstream investment.

Since you are new to the crypto world, you can start by learning first, some of the links above are very important for you to know and how important it is to store assets in your own wallet rather than CEX.

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September 23, 2024, 07:12:40 PM
 #22

Hi, im new in crypto, and i want to know what wallet its the best for hold bitcoin?
It's much more important how you keep your seed words backup, but if you only want to hold bitcoin long term than I would suggest creating wallet in offline device and only use it to receive coins.
If you want to be active and send/receive coins more often than you can create secondary hot wallet and use it for this purpose.
Electrum wallet is a good start for newbies.

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September 23, 2024, 07:30:33 PM
 #23

It's much more important how you keep your seed words backup, but if you only want to hold bitcoin long term than I would suggest creating wallet in offline device and only use it to receive coins.
If you want to be active and send/receive coins more often than you can create secondary hot wallet and use it for this purpose.
Electrum wallet is a good start for newbies.
What if he has large amount of coins on the offline device, not doing frequent transactions but sending some amount to online wallet for frequent transactions. He can be using QR code if he is afraid of bluetooth, NFC and USB for sending the PBST and the ST. QR code for transferring the PBST and ST is highly recommendable. If the wallet remains as cold wallet like airgapped device wallet, it remain safe if the seed phrase are safely backed up.

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Oshio-man
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September 23, 2024, 08:08:20 PM
 #24

Electrum wallet is the best wallet for holding bitcoins and you will be comfortable with the years you want the bitcoins to remain in your wallet before you can sell, it will be safe for you. You can see that many people has recommend you to choose electrum wallet in this thread, but if you don't want electrum wallet, you can try trust wallet which I know is also safe for holding bitcoins for long period of time before you can make use of the bitcoins, and you can use the trust wallet for short term and long term holding.
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September 23, 2024, 08:50:11 PM
 #25

So coming to the main point I'm currently using Electrum, and some other web 3 Hot wallets like Bitget, Trust wallet, etc, with smaller amounts distributed over all of them.
I've seen a lot of people suggesting this and a lot of them using them, but to be honest, I don't recommend or trust web3 hot wallets such as Trust Wallet, Bitget Wallet, Binance Web3 Wallet, or any other web3 wallet. The reason is simple, you are only provided with a seed phrase for your wallet that you can use to import your wallet in the same wallet in case you lose your phone or your app resets, etc. However, you are not given control of private keys for specific assets.

What if the wallet service suddenly stops and you can't access the wallet anymore? You can't import your wallet in any other software using the seed phrase because it's not supported. So in such a case, you will lose your funds.

This is why, if someone uses such wallets, they should only use it for regular transactions, etc. Don't make the mistake of storing your funds in such wallets because they are not good for such things.

batang_bitcoin
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September 23, 2024, 09:08:37 PM
 #26

I hope OP that you will come back and will recognize the replies that has been made for your question. The majority answered you with either Electrum for desktop and a hardware wallet.

So coming to the main point I'm currently using Electrum, and some other web 3 Hot wallets like Bitget, Trust wallet, etc, with smaller amounts distributed over all of them.
It's fine to put some small amounts on those wallets that you've mentioned. If you're into airdrops or trading, you're moving here and there with the funds that you have there actively to save fees. But it's not a good choice for holding.

NicNacCoin
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September 24, 2024, 04:36:39 PM
 #27

Hi, im new in crypto, and i want to know what wallet its the best for hold bitcoin?
Welcome to the Bitcoin Forum.  If you are new to crypto you must know Bitcoin well If you know Bitcoin well then proceed to invest and you must use good trusted wallet to hold the investment.  But I can suggest you to use electrum wallet, trust wallet as good trusted wallet.  But of course you need to keep the seed phrase safe while using all these wallets.

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September 24, 2024, 07:31:33 PM
 #28

Hi, im new in crypto, and i want to know what wallet its the best for hold bitcoin?
That's is the common question and many users are asking on both online and offline. there are many online wallet Non-custodial are available but we want to use the best wallet for our fund Safety. must of the time i use Electrum wallet when i hold more then $2k in bitcoin but less then this amount i hold them on exchangers because i use such amount for short-term holding and for the Short time investment i think holding on exchange is better because it’s save transcation cost. but it is also risky because when we hold our cryoto on any centralized platform Then it is subordinated to others.  So if somehow that platform goes bankrupt or a scam then we lose the funds. As it happened the popular exchange FTX











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September 25, 2024, 07:09:46 AM
 #29

Personally, I prefer keeping my funds on an exchange because it offers more flexibility with lower fees when withdrawing funds.
It’s also convenient for buying more, selling a portion, or even purchasing another coin with those funds. Plus, it allows me to trade more easily. Among the exchanges,
I would highlight Binance, BingX, and Bybit, as they seem to be the most comfortable, user-friendly, and reliable in my opinion.
Hi, im new in crypto, and i want to know what wallet its the best for hold bitcoin?
That's is the common question and many users are asking on both online and offline. there are many online wallet Non-custodial are available but we want to use the best wallet for our fund Safety. must of the time i use Electrum wallet when i hold more then $2k in bitcoin but less then this amount i hold them on exchangers because i use such amount for short-term holding and for the Short time investment i think holding on exchange is better because it’s save transcation cost. but it is also risky because when we hold our cryoto on any centralized platform Then it is subordinated to others.  So if somehow that platform goes bankrupt or a scam then we lose the funds. As it happened the popular exchange FTX
tbct_mt2
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September 25, 2024, 07:36:24 AM
 #30

Electrum is the most trusted wallet used for their bitcoin HODL
It's hard to say Electrum wallet is the most trusted wallet. I agree that Electrum is a good wallet, open source, non custodial, good history and reputation, but I disagree to say it's the most trusted wallet.

Quote
in the past they used this wallet because over time the investment grew, so they bought a Trezor hardware wallet and here they store many assets including bitcoin as the mainstream investment.
Who are they?

You can not generalize everything like this.

Quote
Since you are new to the crypto world, you can start by learning first
Newbies can get started with these learning resources.
First steps of learning about Bitcoin
Learning Bitcoin for beginners

Quote
some of the links above are very important for you to know and how important it is to store assets in your own wallet rather than CEX.
Reminder: do not keep your money in online accounts
Not your keys, not your coins
Bitcoin Q&A on "Not your keys, not your coins"

 
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