Beware some features we should keep in mind when choosing a crypto wallet

[Xun hu]

Firstly, we should explore some wallets to check their interface so that we can choose a more user-friendly interface. In this case, research the wallet reviews and community feedback to judge its reputation.

Secondly, we should choose a recovery-friendly wallet, meaning if anyone loses access to the wallet, there should be an easy recovery option.

Thirdly, we need to choose a wallet that supports our preferred coin.

Finally, security is the most important feature. There must be 2-factor authentication and encryption options to double-secure our valuable wallet.

Thank you for reading the post.

[_act_]

Firstly, we should explore some wallets to check their interface so that we can choose a more user-friendly interface. In this case, research the wallet reviews and community feedback to judge its reputation.

Reputation and security is what that is important.

Secondly, we should choose a recovery-friendly wallet, meaning if anyone loses access to the wallet, there should be an easy recovery option.

All the wallets that I have used are easy for recovery. Just make sure you backup your seed phrase which you will use for the recovery. As long as you use a reputable wallet, you have nothing to worry yourself about.

Finally, security is the most important feature. There must be 2-factor authentication and encryption options to double-secure our valuable wallet.

Almost all noncustodial wallets do not have 2FA. Use a good password. You can also use a good password for your device. Let your device password be different from your wallet password. You can use passphrase but if you lose the passphrase, you will lose your coin.

If you are having high amount if money on coins, use airgapped device wallet or get yourself a reputable hardware wallet.

[Frankolala]

Choosing a wallet should be based on that the wallet is an open source, noncustodial wallet and the wallet should also support RBF. So that you can increase your transaction fee if your transaction get stuck in the mempool due to congestion on the blockchain or you use a low fee for your transaction.

[sheenshane]

Open source, Non-custodial wallet and trusted wallet that's already a year of existing is enough for to me to be called a safe wallet.

Secondly, we should choose a recovery-friendly wallet, meaning if anyone loses access to the wallet, there should be an easy recovery option.

This might be useless if your crypto is already transferred to another wallet.
From the start of choosing a wallet, you should know that it will never be hacked to anyone else.  Put in mine always the golden rule of crypto "Not your keys, not your coin".  Another thing is running your own Bitcoin node by using Tor network might increase your security.

Thirdly, we need to choose a wallet that supports our preferred coin.

Bitcoin wallet that support only for Bitcoin, Altcoins wallet is for only altcoins, don't mix them up.

[Wiwo]

Choosing a wallet should be based on that the wallet is an open source, noncustodial wallet and the wallet should also support RBF. So that you can increase your transaction fee if your transaction get stuck in the mempool due to congestion on the blockchain or you use a low fee for your transaction.

Very simple as that, having all the features you mentioned is enough to call a wallet secured for use for both newbies and pro-Bitcoin holders, in my early days in the cryptocurrency investment journey fell victim to a wallet that I thought was noncustodial but in the end I had no control, well since I was a newbie at that time, I couldn't differentiate between the two types of wallet custodial and noncustodial.

Since then, I have chosen a few known wallets that are non-custodial and give total control of my waller and money, like blue wallet, electron and trust wallet respectfully and they all work well for my needs.

[nakamura12]

Most of the wallets are recovery friendly as long as you have the seed phrase needed to recover the wallet but if you lost it then you won't be able to recover it. Also don't expect the wallet provider where won't be able to help you to recover it. When choosing wallet, base your choices by choosing non-custodial wallet, open source and it's reputation where it will determine if it's safe to use. As you may have noticed from replies that it is better if you choose the things that I mentioned.

[CryptSafe]

Most of the wallets are recovery friendly as long as you have the seed phrase needed to recover the wallet but if you lost it then you won't be able to recover it. Also don't expect the wallet provider where won't be able to help you to recover it. When choosing wallet, base your choices by choosing non-custodial wallet, open source and it's reputation where it will determine if it's safe to use. As you may have noticed from replies that it is better if you choose the things that I mentioned.

Having the seed phrase of your wallets is a sure guarantee of your asset safety because with it, you can be able to access your asset wherever you are and whenever you want to. It is unfortunate that till this moment some people still take this for granted and feel too relaxed about it. I have had the experience of a lost key phrase and also of a hacked wallet so I am talking from experience and I know what it means, people should take this aspect of their wallet safety seriously so they do not encounter challenges of being trapped funds in the wallet as a result of lost keys to access the wallet.

[nakamura12]

Having the seed phrase of your wallets is a sure guarantee of your asset safety because with it, you can be able to access your asset wherever you are and whenever you want to. It is unfortunate that till this moment some people still take this for granted and feel too relaxed about it. I have had the experience of a lost key phrase and also of a hacked wallet so I am talking from experience and I know what it means, people should take this aspect of their wallet safety seriously so they do not encounter challenges of being trapped funds in the wallet as a result of lost keys to access the wallet.

I also experience same which I lost my private key and lost all of my funds in there which I would have 27k if I sell it this time but for hack I don't experience anything like it or planning to get hacked. For creating backup is that people should make more than one backup in case something happens to the main backup which as you have explained about losing funds or funds that are no longer accessible to the owner.

[Publictalk792]

Having the seed phrase of your wallets is a sure guarantee of your asset safety because with it, you can be able to access your asset wherever you are and whenever you want to. It is unfortunate that till this moment some people still take this for granted and feel too relaxed about it. I have had the experience of a lost key phrase and also of a hacked wallet so I am talking from experience and I know what it means, people should take this aspect of their wallet safety seriously so they do not encounter challenges of being trapped funds in the wallet as a result of lost keys to access the wallet.

That is right it is very important to keep your seed phrase safe. Having control over your walle seed phrase is extremely important to keep your money and assets secure and to be able to access them. It is surprising that some from us are not worried about this maybe because they do not know how bad it can be if something goes wrong. Your own experience of losing your key phrase and having your wallet hacked is warning to others showing how important it is to be careful with your wallet. It is very important for users to make wallet safety priority and take necessary steps to avoid problem of not being able to access their money because they lost or had their keys stolen.

[BlackBoss_]

Firstly, we should explore some wallets to check their interface so that we can choose a more user-friendly interface. In this case, research the wallet reviews and community feedback to judge its reputation

Main things to consider are

Non-custodial (self-custodial).
Open-source.
Coin control feature.
Change address.

The first two technical specifications are most important, because with non-custodial wallets, you will have access to private keys or mnemonic seeds, and with them, you can control your bitcoins. With custodial wallets, you don't have access to either mnemonic seed or private keys, and you can not control your coins.

With open-source, the wallet software is reproducible by its source code. With close-source wallet, you can not reproduce it from wallet software code because you don't have the code for testing.

Coin control and change address can help you to use UTXOs in your wallet better, for anonymity and privacy.

Not your keys, not your coins.
Check wallet reviews
https://walletscrutiny.com/

[Rockstarguy]

Secondly, we should choose a recovery-friendly wallet, meaning if anyone loses access to the wallet, there should be an easy recovery option.

To me a wallet that you can easily recover its private keys when you lose access to it is not the best in security wise because it means if you can easily recover or gains access to the wallet third parties can also get access to it because it is a recovery friendly addresss.

Wallets that are recovery friendly is not a guarantee such wallet are good to keep your asset, before you think of how you can gain access to it also think if other people can also get access to it. The non custodial wallet with a good security that third parties can't gain access it is just the best even if you will find it very difficult to access when you lose access to the private keys, you just have to store your keys in the best way to always have access to the wallet.

[Jawhead999]

If I listen to your advice, it means you're recommend to use centralized exchanges.

The interface is beginner friendly like ordinary website.

It's recovery friendly:
1. If you forget the password, just change your password via email.
2. If not have access to your email, but you still remember your email, you can get access by submitting your KYC and wait for them to review your account.

They support many coins, not only one. They also have 2FA.

But, these all not features to make your wallet safe, non custodial, open source and having seed phrase are must. Even seed phrase isn't beginner friendly, it's better than having friendly exchange that's not safe.

[jcojci]

That is why we must research before choosing the wallet because have so many crypto wallet whether that is a Bitcoin wallet or crypto wallet (have Bitcoin and altcoin wallet).

You can read others suggestion but you should explore for more to find which wallet that suit for you. After you have a list of the wallet, you need to know what wallet you need so you can start to research.

Having 2 factor authentication is a must so we can have more protection for our assets in that wallet.

[hd49728]

Having 2 factor authentication is a must so we can have more protection for our assets in that wallet.

You can use 2FA wallet, with extra fee to TrustedCoin, or you can use multisig wallets with cosigners set up and secure by yourself. Multisig wallets cost you more on chain transaction fee too.

With 2FA wallet, if you no longer want 2FA, you can import wallet mnemonic seed, and disable 2FA to have a non-2FA wallet.

Creating a multisig wallet.
Electrum 2FA wallet, how does it work?

[CryptSafe]

Having the seed phrase of your wallets is a sure guarantee of your asset safety because with it, you can be able to access your asset wherever you are and whenever you want to. It is unfortunate that till this moment some people still take this for granted and feel too relaxed about it. I have had the experience of a lost key phrase and also of a hacked wallet so I am talking from experience and I know what it means, people should take this aspect of their wallet safety seriously so they do not encounter challenges of being trapped funds in the wallet as a result of lost keys to access the wallet.

I also experience same which I lost my private key and lost all of my funds in there which I would have 27k if I sell it this time but for hack I don't experience anything like it or planning to get hacked. For creating backup is that people should make more than one backup in case something happens to the main backup which as you have explained about losing funds or funds that are no longer accessible to the owner.

There is a saying that says experience is a teacher, people do not know how it feels to have such experience that is why they just take things for granted. Not until they have a taste of it and know what it means to lose access to one's wallet or be hacked is when their eyes clear. I do not wish for anybody to experience it. After all, it is not worth it so the better people take the safety and security of their wallets seriously by safekeeping their seed phrases or keys the better for them because their assets would be well protected.
Just like you have said, it would be okay to have a multiple source or storage that can guarantee the safety of your keyphrase so that if one fails you, you have other backups for which you can get through to access your wallet.