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?

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.

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.

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

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

do not ignore, learn everything you can.... and Mycelium is a very safe and secure way to have an active wallet:thumbsup:2 cents:

Great attitude Dead!

You must be afraid to read ClickityClick ;) Cheers!


.

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....:1orglaugh

Oh and what is mSigna?

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)

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.

That helps tremendously, thanks man

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 ?

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.

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

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

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

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