How to choose Bitcoin wallet?

madaw1

madaw1

Well-Known Member
Hi
I'd like to open Bitcoin account, but I new to this field. What is the best way to choose the best wallet?-which one? and why? The answer would be very appreciated.
 
For storage of any decent amount of bitcoin I would strongly recommend an offline wallet which is the most secure. I use a KeepKey :-

https://www.keepkey.com/

But when I was starting out I did some experimentation with creating a paper wallet (which costs nothing). You can create one here :-

https://www.bitaddress.org/

If you actually want to do some transactions then put a small amount (that you can afford to lose) into a mobile wallet. I have used Jaxx which you can find in the app store. Or the site is here :-

https://jaxx.io/

I'm not really a big fan of Jaxx as it seems a bit "bleeding edge" and the fees are not great, but you can handle multiple cryptocurrencies, convert from one to the other within the wallet and you can scan your paper wallet (to extract and spend those funds) any time.

Good luck. My advice is to start out small and make sure you have got the basics of the technology well understood before putting any substantial money in. It is very easy to make a mistake and lose your money (eg, by entering wrong address or by revealing your private key)
 
Just got Exodus, very intuitive for those starting out, and you also have a built in exchange function inside the wallet, not too sure on the fees yet as have only done a few transactions of late but it has Bitcoin dash, doge, Ethereum, Golem , litecoin and you can get a 12 word code to keep if you ever stuff up or need to reinstate your wallet. Also has a running tally amount in $US or BTC which is handy to have as well.
 
I was just about to ask same question because I need to buy bitcoin to then buy other cryptos. Learning curve for sure, I'm just starting to get into it.
Thanks :)
 
I just downloaded Exodus too, and agree it is very good. Easy to use, and has the inbuilt exchange to other cryptos. They have how to use it videos on their website.

Yep it is definitely a learning curve.
 
With Exodus, when you are given an address to use to receive funds, will that be the same/permanent address or just valid for a certain amount of time? I know normally it's permanent, just curious with this one
 
Just download a couple of wallets and have a play around with them, it is as easy as anything to get the hang of , no harder than downloading and copying a movie to a thumbdrive really. See which one you like and then delete those you don't.

One thing to make extra special super dooper sure of is that before you start moving large bits of alts around is to KNOW how to make a backup of your wallet and to record in safe spaces/places your Passphrase/Password and backup key. If you lose these and forget them and anything go's wrong your funds end up in cycber space forever.

Just start off sending and receiving small amounts at first till you are sure how thing's work and then do a couple of backups of your wallets so you know you have that sorted as well.

Once you get going it really is as easy as making a transfer on your own internet bank accounts, a credit card purchase, or doing a purchase on feebay, just cheaper easier and possibly a lot more profitable.

Feel free to PM me if you have any hassles.
 
LovingtheSilver said:
With Exodus, when you are given an address to use to receive funds, will that be the same/permanent address or just valid for a certain amount of time? I know normally it's permanent, just curious with this one
Click to expand...

Pretty sure it is the same address but if you go to the receive page of a coin there is an arrow next to the QR code where you can generate another at least ?
 
i always liked the Mycelium phone wallet to get started on, just back it up with the 12 word key seed and you'll never lose your BTC regardless what happens to the phone..For larger amounts though, definately a hardware wallet. I got a Ledger nano s and would recommend it, keep your private keys offline and your BTC cant get hacked.
 
Has anyone ever had an issue with jaxx?
Transferred eth out of an exchange to jaxx wallet and it’s out of the exchange but never arrived in my jaxx wallet 7 days ago. The address is is correct, I’m so confused
 
For anyone who uses Exodus their most recent release (Ver 1.45.0) has a whole new bunch of ERC20 tokens added, meaning we can now store a hell of lot more coins within Exodus

These ERC20 tokens can only be stored in Exodus (Send/Receive) but the Exchange service cannot be used for them like it can be for their main coins

Either way, I was stoked to see this :)

More info: https://support.exodus.io/article/642-send-and-receive-ethereum-assets
 
I use myetherwallet for eth related coins and tokens, and I'm currently waiting on a trezor, which should arrive today or tomorrow.
 
metalzzz said:
Has anyone ever had an issue with jaxx?
Transferred eth out of an exchange to jaxx wallet and it’s out of the exchange but never arrived in my jaxx wallet 7 days ago. The address is is correct, I’m so confused
Click to expand...

Do you have the TX(transaction) number from the exchange metalzz ?
 
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