07-01 21:02 - '3 REASONS WHY YOU SHOULD USE BLOCKCHAIN INSTEAD OTHER BITCOIN WALLETS (COMPARISON)' (self.Bitcoin) by /u/DevilH14 removed from /r/Bitcoin within 157-167min
''' Which bitcoin wallet should i choose? what features a good wallet should have? A good Bitcoin wallet must have some features to dissipation our necessity like safety and security which we review that features at the different wallets in the following this post.
PSA: If your bitcoin is stored on a website, it will eventually be hacked. Protect yourself by using one of these real bitcoin wallets →
Security is simply never perfect. Any amount of bitcoin you trust to humans can ultimately be lost – whether through accident, theft, fraud, or bankruptcy. If you've invested time or money into purchasing bitcoin, it may be wise to invest some time into understanding it more deeply. Bitcoin is somewhat unlike other currencies – it is most safely held in a true bitcoin wallet, rather than on a website. While it can be comforting to think, "I keep my bitcoin with Company", in reality, you're simply adding your money to an already large jackpot for hackers. No company is immune, and the bigger the target, the more complex hacking attempts can get. For large enough prizes, hackers have gotten themselves hired into the security and critical infrastructure teams at many large institutions – sometimes over the course of years.
Using a real wallet doesn't have to be hard – try one of these popular open-source apps:
Shameless plug – I personally use and have contributed to Copay (both as an individual and through my employment with BitPay). I prefer it because I'm able to secure my money across several phones and desktops – protecting me from loss even if several of my devices are lost, stolen, or hacked.
If you're interested in spending bitcoin regularly, here is list of wallets which is maintained by BitPay, sorted by the payment standards they support: Bitcoin Wallet Comparison – Standards Support Edit: Tried to keep it short, but looking at the comments, it sounds like the Electrum wallet is also quite popular. Just added it to the list.
In the past few months i've been gathering info and am now considering to put some money on BTC and a few other altcoins. My plan is to have some money in crypto for the long run, and perhaps perform just a couple of transactions per year, but NOT to use it as a currency (at least for now). I have a few questions that are making it hard for me to choose the type of wallet:
Mobile VS Desktop: which is safer? I see contradicting arguments: E.g. at this 99bitcoins page, at 6:52 of the video it says mobile wallets present "the worse possible scenario for security", but at this bitcoin.org page, any choice of Mobile wallet is marked as "Secure environment" while any choice of Desktop wallet is marked as "Vulnerable environment".
Mycelium VS Electrum: which is safer? At this bitcoin.org page it says Mycelium has centralized validation and if i choose Electrum it shows SPV (better), but the comparison table at this 99bitcoins page says Mycelium has higher security than Electrum.
Would you find desktop/mobile Electrum to be "safe enough" for a larger sum? If not, what wallet would you recommend for my specific purpose?
Can i create a hot wallet and later "move it" to a cold wallet when it starts having a larger sum? How?
Trezor VS Ledger Nano S: which is safer? At this bitcoin.org page, it says the Ledger has only basic transparency while the Trezor has complete transparency, but i've not found that difference in the 99bitcoins site or anywhere else ftm.
Do you see any problem in having a larger sum in a paper wallet (other than the concern of taking care of the paper itself)? Do you agree with this page where it claims that paper wallets are even safer than hardware wallets?
From the article i linked above, it seems that paper wallets are only meant to receive funds once and also to send out funds once... does it have to be so?
In a paper wallet, when i use my private key to send funds is the key and wallet compromised? What should i do to prevent? What app/wallet do you recomend to use in conjunction with a paper wallet?
Any help on these questions would be is much appreciated. Thank you!
The TREZOR is the oldest hardware wallet on our list released in August 2014, making it the first Bitcoin hardware wallet. The TREZOR design looks quite dated, it’s a small key-sized device which functions similarly to the other hardware wallets featured. The security for this hardware wallet is high quality, the issue that most users have with it is the user experience. Since it’s design ... The crown for the “best hardware Bitcoin wallet” without doubt rests with the Ledger Blue. But taking it out of the competition for the unfair advantage that it has of offering an interactive screen, all the other hardware wallets on this list equally deserve the crown as well. As you might have seen, there isn’t much of a “features” difference. The only difference there is, is for ... If you’ve already got some bitcoin or are thinking of buying some, chances are you’re wondering what to do with it. As with many other facets of the cryptocurrency market, the option for bitcoin ‘storage’ are many and varied. You’ve probably heard the term ‘bitcoin wallet’ used before and it sounds fairly simplistic. After this transaction is verified and added to the blockchain, the ledger records that the amount of bitcoin at Alice’s wallet address has decreased by 0.001 and that the amount of bitcoin at Bob’s wallet address has increased by 0.001 BTC. The amounts sent and received and the public wallet addresses are all public information. See it for yourself: Watch bitcoin transactions happen in ... The Bitbox02 is one of the newer hardware wallet releases coming out in 2020 by the ShiftCrypto team. This device sells for $119 making it pretty competitive with some of the other wallets mentioned in this guide.. The two things I love about this wallet is the sleek design and small size, and the fact comes in a Bitcoin ONLY version.You may be wondering why this is important.
Trezor - Initial Setup & First Bitcoin Wallet Transactions - Duration: 13:38. IMineBlocks 199,071 views. 13:38 . Ledger Nano S el Monedero de Bitcoin mas Seguro - Duration: 11:33. Working From ... In today's video I show you guys the top 5 safest crypto wallets to store your crypto in. Make sure not to use exchanges to store your crypto! Not your keys,... Bitcoin Magazine writer Vlad Costea reviews the top bitcoin hardware wallets and gives us his take on which you should buy. ----- For more find us o... We've chosen to compare hardware wallets instead of digital wallets, as they offer cold storage, which is considered a much more secure method of storage tha... Best Bitcoin Wallet? This guide is about one of the safest hardware crypto wallet currently on the market that is not a Ledger wallet or Trezor wallet. BC Va...