Bitcoin wallets you recommend? - GoFuckYourself.com

DraX · 05-12-2016, 04:56 PM

Need to dig a bit deeper into the bitcoin market, which wallets are you recommending?

I have an old coinbase account, no idea if I should keep working with that one.

I also got a suggestion that armory was good for protection and when sitting on bigger balances.

I'm eager to hear what the gfy BC gurus are suggesting?

marc22 · 05-12-2016, 05:34 PM

No bitcoin wallet is safe online.

Every time i buy bitcoin i quickly send it to my desktop wallet. That way i control my wallet.

So the safest is:

Bitcoin Core Wallet - https://bitcoin.org/en/download

Online wallets:

1. https://bitpay.com/

1. https://blockchain.info/

2. https://localbitcoins.com/

I use those 4. Have't had any problem with them.

Coinbase is a bad company. They have bad service and will block your account if you transfer too much money in and out. They will ask you too much personal information and except you to pay taxes on your income.

Erik_B · 05-12-2016, 11:53 PM

Quote:

Originally Posted by DraX

Need to dig a bit deeper into the bitcoin market, which wallets are you recommending?

I have an old coinbase account, no idea if I should keep working with that one.

I also got a suggestion that armory was good for protection and when sitting on bigger balances.

I'm eager to hear what the gfy BC gurus are suggesting?

That really depends on what you want to do and how you want to use your coins and Marc does makes a good point about security.

You're probably familiar that there's cold wallets and hot wallets. BitAdress is a great free cold wallet generator but you need to have a Clean computer just for this case. Trezor on the other hand is probably the best 100$ autonomous cold wallet device on the market. And unlike the Bitcoin core wallet, one doesn't have to download and run the full node (which can be tedious).

I wouldn't suggest Armory, as they made a public announcement last February about the company failing to met ends, although they were a great Wallet and are still around, i wouldn't continue with it. For Hot wallets you're going to need a company you can trust and that will stay around, and for this I reason I would strongly suggest BlockChain and Mycelium. Both these wallet continue getting major Funding and have industry leaders as core Developers.

Right up there would be Samourai and DarkWallet, they both have a great philosophy and great developer teams. Samourai is currently probably ahead of DarkWallet in terms of developments. These are the best anonymous hot wallets on the market.

Bitpay and Coinbase would be considered really hot wallets as they are directly attached to your personal account. But they are also considered on and off ramps for Fiat.

So again, the wallet of choice depends on how to intend to use it.

clickity click · 05-13-2016, 12:09 AM

Ignore the above advice. Download mycelium. Make sure you back up the wallet somewhere offline.

darksoul · 05-13-2016, 04:12 AM

Don't use online wallets, theres always the risk of getting your funds sized or the site shutting down.
For easy of use Electrum Bitcoin Wallet
for serious stuff bitcoin core

Dead · 05-13-2016, 04:18 AM

Quote:

Originally Posted by clickity click

Ignore the above advice. Download mycelium. Make sure you back up the wallet somewhere offline.

do not ignore, learn everything you can.... and Mycelium is a very safe and secure way to have an active wallet

Erik_B · 05-13-2016, 06:38 AM

Quote:

Originally Posted by Dead

do not ignore, learn everything you can.... and Mycelium is a very safe and secure way to have an active wallet

Great attitude Dead!

Quote:

Originally Posted by clickity click

Ignore the above advice. Download mycelium. Make sure you back up the wallet somewhere offline.

You must be afraid to read ClickityClick ;) Cheers!

.

DraX · 05-16-2016, 06:04 PM

Thanks for your suggestions

So if I understand everything correcly.

The most reliable scenario is following, have 2 wallets:

1. 1 wallet for smaller amounts and everyday transactions.

2. Another wallet used like a savings account.

Correct?

Now on to the wallets and yea I'll ditch coinbase.

Will receive some affiliate deposits in bitcoin from now on. I already really hate the fact of having too much in a bitcoin offline wallet but geez what you gonna do...

So as an online wallet - blockchain seems like a good pick

Now on to the offline/security wallet.

The options I seem to have is following wallets

Bitcoin Core Wallet (65GB size WTF)
Mycelium (then backup offline)

What happens if you have bitcoin core downloaded to your pc and used as a wallet and the hdd/ssd goes corrupt and/or a fire takes out your pc. Does that mean you lose your money ?

I think that's the 1 million dollar question....

Oh and what is mSigna?

Internet Guy · 05-16-2016, 10:38 PM

Quote:

Originally Posted by DraX

Thanks for your suggestions
What happens if you have bitcoin core downloaded to your pc and used as a wallet and the hdd/ssd goes corrupt and/or a fire takes out your pc. Does that mean you lose your money ?

You can encrypt and back-up the wallet.dat file and store it in a few different places, if you hdd/ssd goes down, you just need to re-install Core and import your wallet.dat file.

(more info: https://en.bitcoin.it/wiki/Wallet)

TheeRoly · 05-17-2016, 10:14 AM

I like the Circle pay app because of it's simplicity.

https://www.circle.com/en

Basically it's like a Venmo type app that allows you to send and receive bitcoin as well.

DraX · 05-17-2016, 12:54 PM

Quote:

Originally Posted by Internet Guy

You can encrypt and back-up the wallet.dat file and store it in a few different places, if you hdd/ssd goes down, you just need to re-install Core and import your wallet.dat file.

(more info: https://en.bitcoin.it/wiki/Wallet)

That helps tremendously, thanks man

DraX · 05-20-2016, 10:30 PM

Blockchain is up and running now, scary shit. The security section is so full of tools, using every one of them is like welcoming a storm of problems and in the end blocking out access for yourself.

I noticed some of you are backing up your wallet and encrypting the data to store outside your pc environment. Any particular software to be used, how do you put the cherry on top :D ?

clickity click · 05-21-2016, 01:42 PM

I think it's easy to over complicate things when it doesn't have to be difficult.

To clarify an earlier post.

I use multibit https://multibit.org/ which is a lightweight bitcoin wallet which stops you having to download the entire blockchain everytime you want to make a transaction.
I class multibit as my'main bank'. The wallet.dat is saved to an encrypted folder (using whatever encryption software you like)
The wallet.dat location should be similar to C:\Documents and Settings\example\AppData\Roaming\MultiBit Classic

Everytime you add funds to your main bank (multibit) you need to back up the dat file.

I also use mycelium which is an android and i-phone wallet. This is like the wallet in your pocket and I usually keep roughly $50 on it.

Brian mike · 05-21-2016, 01:48 PM

1. https://blockchain.info/ Never got an issue i recomend

rowan · 05-21-2016, 06:50 PM

Quote:

Originally Posted by Brian mike

1. https://blockchain.info/ Never got an issue i recomend

The whole idea of Bitcoin is to stay away from centralized third parties.

Have a look at the history over the past few years, see how many online wallet providers and exchanges have been hacked (or sometimes, [air quotes] 'hacked'), or have quietly disappeared with customer funds.

At least banks usually have some form of government backing, and they're local. How much luck do you think you'll have trying to recover funds from a company in Luxembourg that one day just closes its doors?

Brian mike · 05-21-2016, 06:54 PM

Quote:

Originally Posted by rowan

The whole idea of Bitcoin is to stay away from centralized third parties.

Have a look at the history over the past few years, see how many online wallet providers and exchanges have been hacked (or sometimes, [air quotes] 'hacked'), or have quietly disappeared with customer funds.

At least banks usually have some form of government backing, and they're local. How much luck do you think you'll have trying to recover funds from a company in Luxembourg that one day just closes its doors?

You have a good point

But i have to say i only use it for quick transaction.
I don't really keep Large sum $ out there.

rowan · 05-22-2016, 04:42 AM

Here's why you should never keep a large amount of funds with a third party...

https://www.cryptocoinsnews.com/bitc...s-ceo-missing/

05-12-2016, 04:56 PM	#1
DraX Confirmed User Industry Role: Join Date: Oct 2002 Location: In wonderland.. Posts: 7,147	Bitcoin wallets you recommend? Need to dig a bit deeper into the bitcoin market, which wallets are you recommending? I have an old coinbase account, no idea if I should keep working with that one. I also got a suggestion that armory was good for protection and when sitting on bigger balances. I'm eager to hear what the gfy BC gurus are suggesting? __________________ Deposit Today With BTC - Play With Bitcoins

05-13-2016, 04:12 AM	#5
darksoul Confirmed User Join Date: Apr 2002 Location: /root/ Posts: 4,997	Don't use online wallets, theres always the risk of getting your funds sized or the site shutting down. For easy of use Electrum Bitcoin Wallet for serious stuff bitcoin core __________________ 1337 5y54\|)m1n: 157717888 BM-2cUBw4B2fgiYAfjkE7JvWaJMiUXD96n9tN Cambooth

05-16-2016, 06:04 PM	#8
DraX Confirmed User Industry Role: Join Date: Oct 2002 Location: In wonderland.. Posts: 7,147	Thanks for your suggestions So if I understand everything correcly. The most reliable scenario is following, have 2 wallets: 1. 1 wallet for smaller amounts and everyday transactions. 2. Another wallet used like a savings account. Correct? Now on to the wallets and yea I'll ditch coinbase. Will receive some affiliate deposits in bitcoin from now on. I already really hate the fact of having too much in a bitcoin offline wallet but geez what you gonna do... So as an online wallet - blockchain seems like a good pick Now on to the offline/security wallet. The options I seem to have is following wallets Bitcoin Core Wallet (65GB size WTF) Mycelium (then backup offline) What happens if you have bitcoin core downloaded to your pc and used as a wallet and the hdd/ssd goes corrupt and/or a fire takes out your pc. Does that mean you lose your money ? I think that's the 1 million dollar question.... Oh and what is mSigna? __________________ Deposit Today With BTC - Play With Bitcoins

05-20-2016, 10:30 PM	#12
DraX Confirmed User Industry Role: Join Date: Oct 2002 Location: In wonderland.. Posts: 7,147	Blockchain is up and running now, scary shit. The security section is so full of tools, using every one of them is like welcoming a storm of problems and in the end blocking out access for yourself. I noticed some of you are backing up your wallet and encrypting the data to store outside your pc environment. Any particular software to be used, how do you put the cherry on top :D ? __________________ Deposit Today With BTC - Play With Bitcoins

05-21-2016, 01:48 PM	#14
Brian mike #Alberta51 Industry Role: Join Date: Oct 2014 Location: USA Territory (Alberta) Posts: 7,954	1. https://blockchain.info/ Never got an issue i recomend __________________ Tube - Cam - Escorts - Top List Menu Tab - Banner - Header Link - Blog Post DM me

05-12-2016, 05:34 PM	#2
marc22 Confirmed User Industry Role: Join Date: Jul 2014 Location: u.s.a. Posts: 151	No bitcoin wallet is safe online. Every time i buy bitcoin i quickly send it to my desktop wallet. That way i control my wallet. So the safest is: Bitcoin Core Wallet - https://bitcoin.org/en/download Online wallets: 1. https://bitpay.com/ 1. https://blockchain.info/ 2. https://localbitcoins.com/ I use those 4. Have't had any problem with them. Coinbase is a bad company. They have bad service and will block your account if you transfer too much money in and out. They will ask you too much personal information and except you to pay taxes on your income.

05-13-2016, 12:09 AM	#4
clickity click So Fecking Bummed Industry Role: Join Date: Aug 2014 Posts: 3,682	Ignore the above advice. Download mycelium. Make sure you back up the wallet somewhere offline.

05-17-2016, 10:14 AM	#10
TheeRoly Confirmed User Industry Role: Join Date: Oct 2012 Location: Miami, FL Posts: 150	I like the Circle pay app because of it's simplicity. https://www.circle.com/en Basically it's like a Venmo type app that allows you to send and receive bitcoin as well.

05-21-2016, 01:42 PM	#13
clickity click So Fecking Bummed Industry Role: Join Date: Aug 2014 Posts: 3,682	I think it's easy to over complicate things when it doesn't have to be difficult. To clarify an earlier post. I use multibit https://multibit.org/ which is a lightweight bitcoin wallet which stops you having to download the entire blockchain everytime you want to make a transaction. I class multibit as my'main bank'. The wallet.dat is saved to an encrypted folder (using whatever encryption software you like) The wallet.dat location should be similar to C:\Documents and Settings\example\AppData\Roaming\MultiBit Classic Everytime you add funds to your main bank (multibit) you need to back up the dat file. I also use mycelium which is an android and i-phone wallet. This is like the wallet in your pocket and I usually keep roughly $50 on it.

05-22-2016, 04:42 AM	#17
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	Here's why you should never keep a large amount of funds with a third party... https://www.cryptocoinsnews.com/bitc...s-ceo-missing/