Money Loves Security And So Do Cryptos: A Brief Guide Down Crypto Wallet Lane
Since time immemorial people have been keeping their money and valuables in safe places. Be they purses, clay pots full of coins buried in their backyards or treasure chests hidden in caves with piles of bones strewn around to keep unwanted visitors at bay, they means conceived for safekeeping hoarded valuables are just as creative as they are limitless. The advent of cryptocurrencies as a new class of valuables and assets instantly spawned the need to keep them safe from the clammy hands of criminals. The logical solution was to develop wallets that would be used to keep cryptos safe. As a result, a multitude of wallets have emerged offering all kinds of added services to their users while remaining means of storage at heart. There is a huge variety of wallets available: Coinomi, GreenAddress, Blockchain.info, Atomic, Exodus, Jaxx, Electrum, Copay, Bread, Airbitz, Armory, Mycelium, Blockchain Wallet and dozens of others, each offering their services to suit any taste. https://preview.redd.it/tai1ax5q3u341.jpg?width=1200&format=pjpg&auto=webp&s=0a33622327c7e52eea02e77f7c843423e6aeba12
Types Of Wallets
There are several types of wallets available to users and everyone must decide for themselves which one suits their needs best. Hardware wallets: These are the most secure and reliable wallets available, since they are not connected to the internet at all. Hardware wallets are like flash memory cards that store the user’s cryptocurrencies and access offline. A bright example is the Trezor wallet, which is deemed to be impermeable to hackers. Unless the user loses the device itself, it is safe to assume that the cryptos will stay on it indefinitely and no one will ever gain access to them. Online, Web or Hot wallets: These are online services, or online wallets that offer to store the user’s cryptos online with direct access to the internet at any time. In essence, online wallets are online accounts in which users store their funds. The risks are very high, since exchange wallets are routinely being hacked and the cryptos stored therein stolen. Desktop wallets: Desktop wallets are software programs that can be downloaded and installed on a PC and will only be accessible from the device they were downloaded onto. The risks are the same as with hot wallets and another added inconvenience is that loss of the device or loss of access to it means loss of all cryptos stored on it. Mobile wallets: Mobile wallets are software programs that can be downloaded onto a mobile device, such as a phone or a tablet. There are wallets for Android and iPhones and all of them bear even greater risks than hot wallets. Since mobile devices are susceptible to theft and a variety of viruses, it is extremely risky to store cryptos on them. Though access to the cryptos without private keys is impossible, unless the user stores them on the device, loss of all cryptos with the mobile device is guaranteed. Paper wallets: Paper wallets are offline cold storage for cryptocurrencies. This is by far the safest means of storing cryptos, which includes printing the public and private keys on a piece of paper and storing it in a safe place. The keys are printed in the form of QR codes for convenience. With paper wallets, the user has complete control over their funds and the only risk lies in losing the piece of paper with the keys. Other types of wallets: Apart from the five main types of wallets, there were attempts at creating other types of services, such as atomic wallets using atomic swap technology and even combinations of mobile/hot/cold wallets. Despite limited success, hybrids models of wallets did not become popular.
Main Pros And Cons
When looking at wallets and their main advantages and disadvantages, it is easiest to speak of the division between cold and hot wallets. When speaking of cold wallets, such as the Trezor Bitcoin wallet and Ledger Nano S or X, the same issue will be observed, and that is the fact that such wallets can be physically lost. Though anyone who ever finds them will never be able to gain access to the stored cryptos without the private keys (unless they are pasted on the device), loss of all cryptos on the device is guaranteed. In addition, cold wallets can be difficult to install and are inconvenient for frequent use. https://preview.redd.it/ff2dukdx3u341.png?width=1021&format=png&auto=webp&s=f36cdc26b13f33433c5124f5e5a67c0e40f9dbf4 Hot wallets are far more susceptible to risk than their cold counterparts. Though hot storage is much faster and convenient with a wide variety of options from Coinbase to Blockchain.info, the risk of cybercrime runs high. Mobile or desktop storage is also considered to be hot storage and is also risky, if the device is damaged or destroyed.
Bitcoin, as the firstborn cryptocurrency, was born with a number of defects. One of the main problems of the king of cryptos is the yet unsolved scalability problem. This refers to the limit on the amount of transactions the Bitcoin network can process due to the limited size of and frequency of blocks in the Bitcoin blockchain. Said problem poses some difficulties to all Bitcoin users and leads to what is known as backlog in the blockchain. The backlog leads to long queues of transactions in the system. With the average transaction time in the Bitcoin blockchain being around 7 transactions per second and the theoretical maximum standing at 27, it is not difficult to understand how long users of the blockchain have to wait for their transactions to pass in times of heightened demand – the time is in the hours and sometimes even days.
Bitcoin Wallets Review
Since Bitcoin is the most popular cryptocurrency on the market, it is logical to judge wallets by their support of the first cryptocurrency. As such, the following will be a brief review of some of the best and most popular Bitcoin wallets on the market. Online Bitcoin Wallets Online or web wallets are the most popular ones out there and the best Bitcoin wallet overall is widely considered to be Blockchain.info, which is easily accessible and convenient for everyday use with good security. As an anonymous Bitcoin wallet, Coinbase follows in the lead with its ability to store a multitude of various coins, but with the same security risks that are inherent to all hot wallets. Android Bitcoin Wallets Android is the most popular mobile system in the world and plays host to a number of good mobile wallets. The best Android Bitcoin wallet is widely considered to be the Electrum Bitcoin wallet with its excellent reputation, good security and convenience. Though Electrum has some occasional glitches, they are never critical. Another excellent wallet for Android is the Coinomi wallet with its support for a wide variety of cryptos and excellent user support, which even allows for restore options using special phrases. Coinomi has its issues as well, such as occasional exchange glitches, but the many pros outweigh the cons. Bitcoin Hardware Wallets The undisputed leaders as the best hardware wallets for Bitcoin are Ledger Nano X and S, Trezor T and Trezor One, and Keepkey. Bitcoin hardware wallets are comparable in their security, accessibility and usability. The difference is mainly in the price, which ranges from $165 for Trzeor T to $59 for the Ledger Nano S model. In fact, the Ledger Bitcoin wallet is often called the king of hardware wallets. The KeepKey Bitcoin wallet is the in the top three hardware wallets as a convenient and stylish device. Though KeepKey supports over 40 assets, it still lacks coin support. Bitcoin Wallets For iPhone iPhone’s iOS system is the second most popular for mobile devices in the world and has support for some good wallets as well. The best iOS Bitcoin wallet for iPhone is considered to be the Abra software, which offers credit card support for topping up crypto balances and a good user interface, which is even more oriented at exchanges. The next software is Edge, formerly known as Airbitz. The Edge wallet is best known for high security and good user-friendliness along with multi-currency support. Bitcoin Wallets For Windows Bitcoin wallets for PC are very popular and Windows is leading the way with some excellent offers for wallets. Atomic is by far the most advanced and the best option for Windows users as it offers Atomic swaps technology as its basis. The application offers a wide variety of operations and supports over 300 cryptocurrencies. Exodus is the second most popular choice as a desktop only wallet with support for Bitcoin and many other altcoins. Exodus offers its users a good interface and it is free for use. Bitcoin Wallets For Mac Since Atomic and Exodus are cross-platform wallets, they can be used on Windows and Mac. Apart from them, there are also Jaxx and Electrum, which can be used on Mac. Jaxx is a multi-currency wallet with support for around 40 cryptos and has a PIN feature. In addition, Jaxx is free for use. Electrum is one of the oldest desktop wallets and is a lightweight wallet that does not require the full blockchain to operate, meaning less storage needed for its operation. The wallet requires a PIN and is essentially a desktop bank with good security and usability. Electrum is also a Bitcoin wallet for iPad, since it can be used on mobile platforms. Bitcoin Paper Wallet Since storing cryptos online on exchange or hot wallets or even on devices is risky, it is oftentimes more convenient to use a simple printer to print out the keys and store them. BitAddress offers a convenient and easy to use, step by step guide to creating a paper wallet with the added benefit of sleeping in peace, known that nothing and no one will ever threaten your Bitcoins. https://preview.redd.it/bh7wi0d64u341.png?width=600&format=png&auto=webp&s=9f7fbd269eea43ac3b8897ad470553ba8b3c730d
When embarking on the journey of creating your first wallet, think well of which type to use. The type will depend on the priorities that stand before the user. If security is paramount, then paper or cold storage wallets are the go-to solution. If frequency of use is the name of the day, then hot wallets and their inherent risks are the best way to go. The most frequent questions related to wallets are how to add money to a Bitcoin wallet and how to set up a Bitcoin wallet. Both questions have no single answer, as each wallet offers its own instructions on how to top up balances and how to set them up. Therefore it is recommended to study all instructions carefully prior to operation. Either way, there is no silver bullet and some features will have to be sacrificed in deciding how to store cryptocurrencies. The one thing that is constant is the need to store Bitcoins and cryptos and make use of them. Check us out at https://moontrader.io Facebook: https://www.facebook.com/MoonTraderPlatform Twitter: https://twitter.com/MoonTrader_io LinkedIn: https://www.linkedin.com/company/19203733 Reddit: https://www.reddit.com/Moontrader_official/ Telegram: https://t.me/moontrader_news_en Originally posted on our blog.
I have some bitcoin on an exchange, and I wanted to try out a wallet. I plan on getting a hardware wallet, but before doing so, just wanted to try out a wallet on my phone. After looking around a bit, I decided to use the Mycelium wallet. I transferred about $300 USD in BTC to my wallet. That went fine. Then I decided to try to send money to somebody. So, I installed Mycelium on my wife's iphone and sent her $40. My app indicated the transaction cost would be only 0.46 USD. She received approximately $25.00. The transaction details show 0.00004927 BTC, at a rate of 25sat/byte. How is it possible that I am missing nearly half the money I sent to her? Surely that can't be workable system for using bitcoin as a medium of exchange. Am I doing something wrong, or should I be using a different wallet? I've tried a couple more smaller transactions, and I'm seeing similar ratios on terms of the amount sent / the amount received.
Migrating from Mycelium (using 12 word seed backup)
A year or so ago I tried getting my friend into bitcoin. I had him download the Mycelium wallet onto his iPhone and sold him a small amount of bitcoin which I transferred to Mycelium address. He recently got a new phone and would like to restore the wallet from the 12 word backup seed phrase (edit and no longer has acess to the old phone). I would prefer to use a different wallet than Mycelium. What are some SIMPLE iOS wallets that will accept the 12 words backup seed phrase exported by Mycelium? P.S.: Mycelium is an HD (Hierarchical Deterministic) wallet. Not sure if this matters but it caused me all kinds of hassles when trying to recover my BCH air drop.
Whenever i install a mobile wallet on some of my friends or families phone i try to only install open source software that definitely has you in charge of your private keys! There are some key things that every bitcoin wallet should provide, like segwit support for example. So far my knowledge is this: - Samourai (Android only / Still in Alpha / wont let you use BitPay / Full Segwit support/ Open source / Experimental privacy features) - GreenAddress (Not the most modern Interface / Privacy concerns with email/sms login? but ok / Segwit support (fully supported? not sure?) / Open source / iOS & Android supported ) - Blue Wallet (iOS only / Still early development / Full Segwit support / Open Source ) - Edge (Only client side open source / focus not only bitcoin / actually not sure if the fully support segwit) <- actually im quite skeptical about this wallet for some reason maybe someone knows more about it all the other apps like CoPay, Mycelium, Electrum, Jaxx, Enjin either dont support segwit fully or are not fully open source. what am i missing? are these the only few options if you want full segwit support, open source bitcoin wallets? its ok if the wallet i am looking for is only supporter on either iOS or Android but it seems there are still few options that live up to high standarts. Id like to hear your alternatives or your thoughts for this topic since i think its a very critical thing for user adoption not to have scammy wallets full of advertising with no security or privacy standards. I mainly use Samourai myself but its not a officially stable wallets by the developers even but i support them so this is why i use it. But you can't recommend it to someone new or as a standard kind of soloution. For iOS my experience is very limited since i never owned an iPhone but its a huge market and i used to recommend Copay but i think its not a very good option.. for the moment i would go for GreenAddress or BlueWallet. Let me know what ou think please
I bought an iphone 8 plus. I even used Bitcoin to pay for it. The app store had a mycelium wallet so all I needed was the 12 word recovery key I wrote down. I put the 12 words in and all I got was a mis-match error. Am I right in thinking the version for ios is basically not capable of restoring my wallet?
Hola a todos. Voy a estar tippeando bitcoins a todo el que lo pida en este thread hasta agotar mis fondos, no sean tímidos y posteen. inb4 reset del contador Edit: ChangeTip está medio saturado hoy así que puede que tarde en verificar los tips. Edit 2: Santo patrono del thread (gracias romeroj) Edit 3: Ya estamos llegando a los últimas moneditas (al menos de mi parte). Me voy a tomar un descanso y a la vuelta reparto lo que me queda. Edit 4: Corto por hoy, ya se secó el pozo. A los que llegaron tarde: posteen igual, en una de esas alguien más se copa y les deja un tip. Non-Argies coming from other subs to ask for free bitcoins: you're welcome here, but I'm giving priority to Argentines for now. To all other bitcoiners helping out: thank you so much <3
Breadwallet (iOS) - no tengo un iPhone así que no lo probé, pero suele ser el que recomiendan
¿Dónde puedo gastar bitcoins? En Argentina:
Coinmap.org es un mapa con una buena cantidad de lugares que aceptan bitcoin en Argentina.
EnBitcoins te deja pagar facturas con bitcoin. Funciona para casi todos los servicios comunes del país (luz, agua, gas, teléfono, cable, internet, tarjetas de crédito, etc). Lo usé varias veces y funciona muy bien.
Avalancha.com es un retailer online de electrónica y artículos del hogar (entre otras cosas) y aceptan bitcoins. Por lo que tengo entendido hacen delivery a todo el país, con excepción de Ushuaia.
Trifl es un delivery de comida que acepta bitcoin. Hasta donde sé solo operan dentro de CABA.
Bitcoin Taxi son dos taxistas en CABA que aceptan bitcoin (asegurate de tener buena conexión 3G si pensás pagar así).
Spendabit es un buscador de productos que se pueden comprar con bitcoin en el mundo.
¿Dónde puedo aprender más sobre Bitcoin? No estoy al tanto de todas las guías de Bitcoin, así que no sé cuál es la mejor, pero WeUseCoins.com me parece bastante decente para empezar (no está disponible en castellano).
What is a Cryptocurrency Wallet? Use this straightforward guide to learn what a cryptocurrency wallet is, how they work and discover which ones are the best on the market. A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet. How do they work? Millions of people use cryptocurrency wallets, but there is considerable misunderstanding about how they work. Unlike traditional ‘pocket’ wallets, digital wallets don’t store currency. In fact, currencies don’t get stored in any single location or exist anywhere in any physical form. All that exists are records of transactions stored on the blockchain. Cryptocurrency wallets are software programs that store your public and private keys and interface with various blockchain so users can monitor their balance, send money and conduct other operations. When a person sends you bitcoins or any other type of digital currency, they are essentially signing off ownership of the coins to your wallet’s address. To be able to spend those coins and unlock the funds, the private key stored in your wallet must match the public address the currency is assigned to. If public and private keys match, the balance in your digital wallet will increase, and the senders will decrease accordingly. There is no actual exchange of real coins. The transaction is signified merely by a transaction record on the blockchain and a change in balance in your cryptocurrency wallet. What are the different types of Cryptocurrencywallets? There are several types of wallets that provide different ways to store and access your digital currency. Wallets can be broken down into three distinct categories – software, hardware, and paper. Software wallets can be a desktop, mobile or online.
Desktop: wallets are downloaded and installed on a PC or laptop. They are only accessible from the single computer in which they are downloaded. Desktop wallets offer one of the highest levels of security however if your computer is hacked or gets a virus there is the possibility that you may lose all your funds.
Online: wallets run on the cloud and are accessible from any computing device in any location. While they are more convenient to access, online wallets store your private keys online and are controlled by a third party which makes them more vulnerable to hacking attacks and theft.
Mobile: wallets run on an app on your phone and are useful because they can be used anywhere including retail stores. Mobile wallets are usually much smaller and simpler than desktop wallets because of the limited space available on a mobile.
Hardware: wallets differ from software wallets in that they store a user’s private keys on a hardware device like a USB. Although hardware wallets make transactions online, they are stored offline which delivers increased security. Hardware wallets can be compatible with several web interfaces and can support different currencies; it just depends on which one you decide to use. What’s more, making a transaction is easy. Users simply plug in their device to any internet-enabled computer or device, enter a pin, send currency and confirm. Hardware wallets make it possible to easily transact while also keeping your money offline and away from danger.
Paper: wallets are easy to use and provide a very high level of security. While the term paper wallet can simply refer to a physical copy or printout of your public and private keys, it can also refer to a piece of software that is used to securely generate a pair of keys which are then printed. Using a paper wallet is relatively straightforward. Transferring Bitcoin or any other currency to your paper wallet is accomplished by the transfer of funds from your software wallet to the public address shown on your paper wallet. Alternatively, if you want to withdraw or spend currency, all you need to do is transfer funds from your paper wallet to your software wallet. This process, often referred to as ‘sweeping,’ can either be done manually by entering your private keys or by scanning the QR code on the paper wallet.
Are Cryptocurrency wallets secure? Wallets are secure to varying degrees. The level of security depends on the type of wallet you use (desktop, mobile, online, paper, hardware) and the service provider. A web server is an intrinsically riskier environment to keep your currency compared to offline. Online wallets can expose users to possible vulnerabilities in the wallet platform which can be exploited by hackers to steal your funds. Offline wallets, on the other hand, cannot be hacked because they simply aren’t connected to an online network and don’t rely on a third party for security. Although online wallets have proven the most vulnerable and prone to hacking attacks, diligent security precautions need to be implemented and followed when using any wallet. Remember that no matter which wallet you use, losing your private keys will lead you to lose your money. Similarly, if your wallet gets hacked, or you send money to a scammer, there is no way to reclaim lost currency or reverse the transaction. You must take precautions and be very careful!
Backup your wallet. Store only small amounts of currency for everyday use online, on your computer or mobile, keeping the vast majority of your funds in a high security environment. Cold or offline storage options for backup like Ledger Nano or paper or USB will protect you against computer failures and allow you to recover your wallet should it be lost or stolen. It will not, however, protect you against eager hackers. The reality is, if you choose to use an online wallet there are inherent risks that can’t always be protected against.
Update software. Keep your software up to date so that you have the latest security enhancements available. You should regularly update not only your wallet software but also the software on your computer or mobile.
Add extra security layers. The more layers of security, the better. Setting long and complex passwords and ensuring any withdrawal of funds requires a password is a start. Use wallets that have a good reputation and provide extra security layers like two-factor authentication and additional pin code requirements every time a wallet application gets opened. You may also want to consider a wallet that offers multisig transactions like Armory or Copay. A multisig or multi-signature wallet requires the permission of another user or users before a transaction can be made. Multi-currency or single use?
Although Bitcoin is by far the most well-known and popular digital currency, hundreds of newcryptocurrencies (referred to as altcoins) have emerged, each with distinctive ecosystems and infrastructure. If you’re interested in using a variety of cryptocurrencies, the good news is, you don’t need set up a separate wallet for each currency. Instead of using a cryptocurrency wallet that supports a single currency, it may be more convenient to set up a multi-currency wallet which enables you to use several currencies from the same wallet. Are there any transaction fees? There is no straightforward answer here. In general, transaction fees are a tiny fraction of traditional bank fees. Sometimes fees need to be paid for certain types of transactions to network miners as a processing fee, while some transactions don’t have any fee at all. It’s also possible to set your own fee. As a guide, the median transaction size of 226 bytes would result in a fee of 18,080 satoshis or $0.12. In some cases, if you choose to set a low fee, your transaction may get low priority, and you might have to wait hours or even days for the transaction to get confirmed. If you need your transaction completed and confirmed promptly, then you might need to increase the amount you’re willing to pay. Whatever wallet you end up using, transaction fees are not something you should worry about. You will either pay minuscule transaction fees, choose your own fees or pay no fees at all. A definite improvement from the past! Are cryptocurrency wallets anonymous? Kind of, but not really. Wallets are pseudonymous. While wallets aren’t tied to the actual identity of a user, all transactions are stored publicly and permanently on the blockchain. Your name or personal street address won’t be there, but data like your wallet address could be traced to your identity in a number of ways. While there are efforts underway to make anonymity and privacy easier to achieve, there are obvious downsides to full anonymity. Check out the DarkWallet project that is looking to beef up privacy and anonymity through stealth addresses and coin mixing. Which Cryptocurrency wallet is the best? There is an ever-growing list of options. Before picking a wallet, you should, however, consider how you intend to use it.
Do you need a wallet for everyday purchases or just buying and holding digital currency for an investment?
Do you plan to use several currencies or one single currency?
Do you require access to your digital wallet from anywhere or only from home?
Take some time to assess your requirements and then choose the most suitable wallet for you.
Bread Wallet Bread Wallet is a simple mobile Bitcoin digital wallet that makes sending bitcoins as easy as sending an email. The wallet can be downloaded from the App Store or Google Play. Bread Wallet offers a standalone client, so there is no server to use when sending or receiving bitcoins. That means users can access their money and are in full control of their funds at all times. Overall, Bread Wallet’s clean interface, lightweight design and commitment to continually improve security, make the application safe, fast and a pleasure to use for both beginners and experienced users alike.
Pros: Good privacy & security, beginner friendly, simple & clean, open source software, free.
Cons: No web or desktop interface, lacks features, hot wallet.
Mycelium Advanced users searching for a Bitcoin mobile digital wallet, should look no further than mycelium. The Mycelium mobile wallet allows iPhone and Android users to send and receive bitcoins and keep complete control over bitcoins. No third party can freeze or lose your funds! With enterprise-level security superior to most other apps and features like cold storage and encrypted PDF backups, an integrated QR-code scanner, a local trading marketplace and secure chat amongst others, you can understand why Mycelium has long been regarded as one of the best wallets on the market.
Pros: Good privacy, advanced security, feature-rich, open source software, free
Cons: No web or desktop interface, hot wallet, not for beginners
Exodus Exodus is a relatively new and unknown digital wallet that is currently only available on the desktop. It enables the storage and trading of Bitcoin, Ether, Litecoins, Dogecoins and Dash through an incredibly easy to use, intuitive and beautiful interface. Exodus also offers a very simple guide to backup your wallet. One of the great things about Exodus is that it has a built-in shapeshift exchange that allows users to trade altcoins for bitcoins and vice versa without leaving the wallet.
Pros: Good privacy & security, beginner friendly, intuitive, easy to use, in-wallet trading, supports multiple currencies, open source software, free.
Cons: Hot wallet, no web interface or mobile app
Copay Created by Bitpay, Copay is one of the best digital wallets on the market. If you’re looking for convenience, Copay is easily accessed through a user-friendly interface on desktop, mobile or online. One of the best things about Copay is that it’s a multi-signature wallet so friends or business partners can share funds. Overall, Copay has something for everyone. It’s simple enough for entry-level users but has plenty of additional geeky features that will impress more experienced players as well.
Pros: Good privacy & security, multisig transactions, multiple platforms & devices, multiple wallet storage, beginner friendly, open source software, free
Cons: Can be slow & unresponsive, limited user support
Jaxx Jaxx is a multi-currency Ether, Ether Classic, Dash, DAO, Litecoin, REP, Zcash, Rootstock, Bitcoin wallet and user interface. Jaxx has been designed to deliver a smooth Bitcoin and Ethereum experience. It is available on a variety of platforms and devices (Windows, Linux, Chrome, Firefox, OSX, Android mobile & tablet, iOS mobile & tablet) and connects with websites through Firefox and Chrome extensions. Jaxx allows in wallet conversion between Bitcoin, Ether and DAO tokens via Shapeshift and the import of Ethereum paper wallets. With an array of features and the continual integration of new currencies, Jaxx is an excellent choice for those who require a multi-currency wallet.
Pros: Good privacy & security, Multi-currency, wallet linking across multiple platforms, great user support, feature rich, user-friendly, free.
Cons: Code is not open source, can be slow to load
Armory Armory is an open source Bitcoin desktop wallet perfect for experienced users that place emphasis on security. Some of Armory’s features include cold storage, multi-signature transactions, one-time printable backups, multiple wallets interface, GPU-resistant wallet encryption, key importing, key sweeping and more. Although Armory takes a little while to understand and use to it’s full potential, it’s a great option for more tech-savvy bitcoiners looking to keep their funds safe and secure.
Pros: Good privacy, great security features, multi-signature options, solid cold storage options, free.
Cons: Only accessible via the desktop client, not for beginners. Trezor
Trezor is a hardware Bitcoin wallet that is ideal for storing large amounts of bitcoins. Trezor cannot be infected by malware and never exposes your private keys which make it as safe as holding traditional paper money. Trezor is open source and transparent, with all technical decisions benefiting from wider community consultation. It’s easy to use, has an intuitive interface and is Windows, OS X and Linux friendly. One of the few downsides of the Trezor wallet is that it must be with you to send bitcoins. This, therefore, makes Trezor best for inactive savers, investors or people who want to keep large amounts of Bitcoin highly secure.
Pros: Good security & privacy, cold storage, easy to use a web interface, in-built screen, open source software, beginner friendly.
Cons: Costs $99, must have device to send bitcoins
Ledger Nano The Ledger Wallet Nano is a new hierarchical deterministic multisig hardware wallet for bitcoin users that aims to eliminate a number of attack vectors through the use of a second security layer. This tech-heavy description does not mean much to the average consumer, though, which is why I am going to explain it in plain language, describing what makes the Ledger Wallet Nano tick. In terms of hardware, the Ledger Wallet Nano is a compact USB device based on a smart card. It is roughly the size of a small flash drive, measuring 39 x 13 x 4mm (1.53 x 0.51 x 0.16in) and weighing in at just 5.9g. Pros:
Screen/device protected by metal swivel cover
3rd-Party apps can run from device
When recovering wallet from seed, the whole process can be done from the device without even connecting it to a computer!
Fairly inexpensive (~$65 USD)
Not as advanced wallet software (no transaction labeling)
No ability to create hidden accounts
No password manager
Green Address Green Address is a user-friendly Bitcoin wallet that’s an excellent choice for beginners. Green Address is accessible via desktop, online or mobile with apps available for Chrome, iOS, and Android. Features include multi-signature addresses & two-factor authentications for enhanced security, paper wallet backup, and instant transaction confirmation. A downside is that Green Address is required to approve all payments, so you do not have full control over your spending
Cons: Hot wallet, average privacy, the third party must approve payments.
Blockchain (dot) info Blockchain is one of the most popular Bitcoin wallets. Accessing this wallet can be done from any browser or smartphone. Blockchain.info provides two different additional layers. For the browser version, users can enable two-factor authentication, while mobile users can activate a pin code requirement every time the wallet application is opened. Although your wallet will be stored online and all transactions will need to go through the company’s servers, Blockchain.info does not have access to your private keys. Overall, this is a well-established company that is trusted throughout the Bitcoin community and makes for a solid wallet to keep your currency.
Pros: Good security, easy to use web & mobile interface, well-known & trusted company, beginner friendly, free.
Cons: Hot wallet, weak privacy, third party trust required, has experienced outages.
First time using Bitcoin at physical store (my experience)
I was excited to use Bitcoin for my first time at a physical store, only to be embarrassed and in the end I paid for my dinner 4 times. (i've used bitcoin online with no problems many times). Here is what happened: 1) A food truck advertises they accept Bitcoin 2) I said i'd like to pay with Bitcoin 3) He pulls out his iphone and mentions he hasn't had someone pay with Bitcoin for a while. 4) He tries to find his bitcoin wallet app - I have no idea which wallet he used as I didn't really recognize the symbol (it took him a bit of fumbling before he found it) 5) A bit more fumbling to setup the payment request 6) he figured it out and typed in the price to request: $9 7) The QR code was generated 8) I pressed the QR code symbol on my coinbase wallet and it momentarily froze/glitched my phone but 2nd time worked. I paid with my coinbase wallet by scanning the QR code - it did some weird vibration thing on my phone with absolutely no confirmation that I sent a payment - nothing happened on my wallet or his wallet visually. In the spur of the moment and with a line up behind me I scanned it again..still nothing. He said to try again, so I did and again nothing. 9) He gave me the slip that says I paid and said to get my food cause he has to help the other people behind me now 10) I press return/back on my coinbase wallet while waiting at the side and see that there are 3 pending send payments to him of $9 on my phone and says pending even 1 hr after. For some reason each transation had a decline button but when pressing it a message pops up saying it failed due to not being a request. 11) I get my food but I am now akwardly waiting at the side staring at my phone and the three pending send transactions. After he helped everyone in the line I went up to him and he said he still got nothing and went to look into the transaction history and shows the last transaction someone made with him was June 12th. During this conversation he says he's no bitcoin expert and that he lost money by accepting bitcoin because he never cashed them when they were worth "double" in 2013. 11) ended up paying with my mastercard :/ 12) I logged into my coinbase account on my laptop maybe 2 hours later and see all payments have been sent to him with 8 confirmations (no longer pending) This experience ticked me off and when I got the food I had to tell my mom, brother and his fiance that it didn't work and that I may have paid him 4 different times (now confirmed after looking at my coinbase accnt) EDIT: Thanks everyone!, yeah i can't f igure out if it was coinbase or his wallet that caused the problem (or maybe both?). I never had problem with coinbase hot wallet for spending online before. (maybe that was because they were using coinbase as the processor online). I'll try my mycelium wallet next time. I guess we can say my first experiment went bad ;) But hoping the next one will be better after learning some things myself from this experience (like NEVER scan a QR code more than once even if you dont think it worked and ill try myecelium next time). P.S: This post isn't meant to hound bitcoin - I love bitcoin with a passion. Just wanted to post my first experience using bitcoin at a physical store and how I felt about it. I def learned a few things on my side.
I want to try this today. Limit of 50 people today for a total of $100. This is not a give away.
For those users who cannot get Bitcoin easily and have paypal. I want to help you get $2 of Bitcoin to your address so you can donate to the next two draws. • Condition 1: You have to be one of the 55982 users who participated in the last draw. • Condition 2: You have to comment to this post with this message: 'I sent $2 to your paypal address [email protected] with this note: "Reddit=yourRedditName address=YourBitcoinAddress"' For example: I sent $2 to your paypal address [email protected] with this note: "Reddit=rCjPrW674G24stVHe address=1NAfNhsnSVhxxZJnEFUaE8ouDS1wn2uKLy" I will send $2 in Bitcoin to the address you specified and will reply to your comment with proof of payment. This is a test to see if I can help those who find difficult to get Bitcoins because exchanges require IDs, bank accounts or long time to verify. Because this is a test, I will limit the offer to the first 50 people who send $2 to my PayPal account. If somebody pays after the limit I will return his $2 to his paypal account. If you don't have a Bitcoin address just install Mycelium on your Android phone or BreadWallet on your iPhone or Electrum on your computer. EDIT: If I don't reply it's because I still don't see the payment in my PayPal account. Do not worry, as soon as I see the payment I will send the $2 to your bitcoin address. It seems PayPal is not as fast as I thought. EDIT 2:Samatdal (who had the original idea) has offered to help here. You can also send the $2 to his PayPal: [email protected]. If you send to his PayPal, he will send bitcoins to your changetip account, so no need to write your bitcoin address. EDIT 3:noeatnosleep has offered to help too. His PayPal account is [email protected]. He can send both to your Bitcoin address or to your changetip account if you prefer. Here is the list of PayPal accounts where you can send $2 and get bitcoins:
Help me claim my BCH from my iOS mycelium wallet [Please].
I set up a Mycelium wallet on my iPhone in November 2016. On August 1 2017, around the time of the fork, there would have been around 3-4 BTC in that wallet. On November 2017 I transfered all BTC funds from that wallet onto a hardware Trezor wallet. My understanding is that I should have the 3-4 BCH associated with that wallet, because thats the number of BTC I had in the wallet at the time of the fork. I have been attempting on-and-off for a month now to retrieve those BCH with zero success.
When I plugged in the 12 word seed into electrum I can see my BTC transaction history. Top image
When I plug the same 12 word seed into electron cash it shows 0 BTH balance. Second image
When I plug the same 12 word seed into Bitcoin.com wallet it wont even let me create the wallet. Third image
For the love of god can someone please help me retrieve these funds? I do believe in BCH as I believe low transaction fees and ease of use are the key to cryptocurrency, but this experience has been frustrating to say the least. Edit: Ive officialy given up. Edit 2: ok I used the 12 words to create an electrum wallet. I then export my private keys from electrum wallet and loaded them onto electron wallet. As a final step for security I transferred to Trezor. Thanks u/howbitcoin.
Try this. I will give $1 to the first 10 people who try so they can pay for the next drawing.
EDIT: This offer is over. I already spent more than $10. Thank you all. I have seen people having trouble getting their first bitcoins. IF you have no bitcoins, this is one of the fastest ways to have some:
I will send you $1 to your address in the picture.
EDIT: I will not pay more screenshots, But I will pay double for pictures of the whole phone. If you don't have an extra camera, you can use another amazing piece of technology: a mirror. Please this is for people who find difficult getting their first bitcoins. I want to try to help them getting started.
Oh the Irony! Having Peter Todd as a speaker while trying to promote Bitcoin as a payment system
The organizer from Arnhem Bitcoin event just sent out an e-mail to attendees with this paragraph about Wallet's:
We want you and the merchants in Arnhem to have a smooth paying experience. Unfortunately not all wallets are designed for 'point-of-sale' situations where you are expected to pay within a few seconds. Don't use wallets that have RBF enabled, and never pay by withdrawing money from an exchange like Bitstamp or Kraken - that often takes more than 15 minutes and you (and the merchant) don't want to wait that long at a cashier while you have people behind you waiting in line. Use a mobile wallet! We have seen many different wallets, but we highly recommend Breadwallet for iPhone users, we have asked them to sponsor our event because we honestly think their wallet rocks. For Android users we recommend Mycelium. Windows phone users should use Copay. Especially if you normally don't pay with bitcoins or haven't used a mobile wallet before, we highly recommend installing one, taking some bitcoins with you and give it a try. This is the opportunity to find out and see for yourself how well Bitcoin works for regular payments!
So Peter is against SPV wallets and zero-conf and he is pro RBF. They literally could not have picked a worse speaker than this.
I'm looking for a good BIP44 backup wallet, preferably one that allows you to set your own transaction fees. I just want a wallet I can use to restore my KeepKey wallet to if I end up needing to do that. I tried restoring to Electrum and it didin't work at all. I even tried older versions. I tried restoring to Exodus and it worked but Exodus is "optimized for transaction speed" so the fees are outrageous. I have an iPhone and I have seen Mycelium for iOS but it has very low reviews and I would like something I can use on either mac or PC. Can I use Bitcoin Core for this? Thanks for any suggestions.
Looking for recommendations for a bitcoin wallet for iPhone.
I just recently got into bitcoin and have been struggling with choosing where to put my BTC. I had just decided yesterday to use Mycelium on my old iPhone and keep it mostly disconnected from the network (airplane mode) unless I need to. Then after more searching I found a post that they won't be supporting segwit?? I'm finding this to be the biggest negative to getting into bitcoin. It seems like whenever I find a good wallet, I also find a bunch of negative news about it. Same with Jaxx. So, I'm looking to the community to give some recommendations for places to store them as I add more from mining/purchasing. I would also like to know what happens if my BTC is left in Mycelium until well after segwit. Do I lose it? Sorry if the answers to these questions are out there, but I have had a hard time finding any solution that doesn't have some terrible news surrounding it lately. Any assistance here would be greatly appreciated as I acclimate to BTC.
On March 31 we released version 1.1 of Mycelium wallet for iOS. It had many useful improvements, including support for system passcode and Touch ID. Within the first day a few customers complained that they can not perform payments. Re-installing the wallet and restoring it from backup helped resolve the issue. On the second day we received a few more complaints, some of them stating that a backup was never made, so they cannot simply re-install the wallet. To limit potential losses, we immediately pulled the app from the App Store to prevent remaining users from automatically updating until we investigate and resolve the problem. Immediate analysis showed that only a few of our users has experienced this problem. Additional testing did not show if there is a bug in the application that could have lead to the lock out of funds. We also could not reproduce the issue where updating from v1.0 to v1.1 makes payments impossible on any of our own systems. We began collecting reports from customers with various details of their iPhone setup, and reached out to several customers to perform additional diagnostics on their devices. While investigating the issue, we learned that several other iOS developers reported a similar intermittent issue with a security component known as "Keychain": the operating system simply locks the application out of the secret data being stored by it. We could not yet find a concrete explanation on how that's possible and what is the best workaround for it (e.g. https://devforums.apple.com/thread/246122?start=0&tstart=0). The investigation is ongoing, but in the meanwhile we have implemented mitigation methods to reduce the impact of the issue. We are still testing it and very soon will resubmit the app to the App Store.
If you have a previous verson (1.0) installed, please make sure you have made a back up. It can be done in Settings tab -> Export Wallet Master Key. You will be shown a list of words: write them down and re-enter to make sure you did not make a mistake.
If you have the latest version (1.1) installed and it works fine for you, still make sure you have a backup as described above.
If you cannot send money and you have made a backup, please make sure your back up is still accessible. When the update comes out, you will be able to simply re-install the app, enter your backup words, and use it normally.
If you have not made a backup, but have not deposited any funds into your wallet, you may simply re-install and create a new wallet when the update comes out (do not send any coins to your wallet in the meantime).
If you cannot send money and you have not saved the backup, we will have a manual diagnostic process to help you. Please contact us (see the details below). Do not delete the Mycelium Wallet and do not deposit more bitcoins into it
The updated app will take several days or even a week to appear after the problem is identified and solved due to the App Store validation process. If you have made a backup and you need to access your funds sooner, you may use a freshly installed Android Mycelium Wallet and restore your backup there.
Manual diagnostic process
We ask every customer who can't access their coins and who has not made a backup to contact us by email at [email protected]. The process is tedious, so if you have a backup, please wait for the update to come out, or use the Android Mycelium Wallet to access the funds from your backup. If you do not have the backup, please send us an email with the following information:
Your device identifier (UDID, see below on how to find it).
Your contact email.
Note 1: Do not delete the existing installation of your wallet! If you do, you will irrevocably lose all the information that may help with recovering your funds. Note 2: We do not want, nor need your personal identifying information. If you have privacy concerns, please use a temporary email address and Tor if needed. Just make sure the email address you provide will work for a few days so we can contact you back. Note 3: Your device identifier is only necessary for us to be able to make a diagnostic build of the app for your device. Apple's app signing process requires that. Since 2013, no application (including Mycelium) has access to that identifier, so it's not possible to use it to track any of your activity on your iPhone. It's only good for installing builds during development outside the AppStore. See below for more information. If you are still concerned about privacy implications, you may wait for an AppStore-based build to come out and use that for diagnostic process. We will send you back a diagnostic build of Mycelium Wallet and further instructions. Thankfully not many people are affected, and we will work as fast as we can, but this could still take a few days to resolve. We will try to be very careful in order to successfully recover your funds. We hope you understand.
How to find your device identifier (UDID)
Connect your iPhone to a Mac or PC with iTunes.
Select your iPhone in iTunes. You may need to unlock it first (enter passcode or TouchID).
Open the Summary tab for that iPhone (the very first one).
Click the label "Serial Number: X7TG14Y1ESK7" until it starts showing "UDID: d87437b0310078e50ced34739b3b54f89b69ac07" (your numbers will be different). The label does not look like a button, but it's clickable.
Hey all! I am completely new to Bitcoin and have put 3 wallets on my iphone (Coinbase, Blockchain & Mycelium). I was going to make my first Bitcoin purchase using Coinbase when I realized there was a fee associated with the transaction. I did a touch of research and realized that the fees associated with Bitcoin transactions can be pretty hefty even for small transactions which in my mind negates the benefits of using bitcoin as a currency. Am I missing something or am I just using the wrong wallets? Thanks for your patience and help with this. I really would like to participate in the movement away from fiat currency but am super gun-shy as I am not very computetech savvy.
This is strictly about the Mycelium iOS wallet and has nothing to do with any other of their products or services This app has been removed from the app store and has two major bugs. 1) You cannot send funds FROM your Mycelium wallet. 2) You cannot back up your wallet or export your seed files. The company has said they are working to fix this, however they should have something on their website, or an email, or something about this for anyone else who is sitting with their app downloaded to their iphone. Hopefully this saves some people time like the 4h I spent on it yesterday. More details below. https://www.reddit.com/Bitcoin/comments/315vqb/help_please_transfered_btc_to_mycelium_wallet_and/
Are BTC Wallets Like BreadWallet and Mycelium more secure than Coinbase and Xapo?
I know you have your private keys with you with Breadwallet and Mycelium but how does that protect you in a more significant way? My understanding of Xapo and Coinbase is that most customer funds are in cold storage in secure locations. I like that. Breadwallet states "breadwallet is the only iPhone wallet which connects directly to the bitcoin network. This means that there are no servers to get hacked or go down - your funds are always safe." WTF does that mean? I really don't understand and I've been paying mild attention to BTC since April 2013 from an episode of Econtalk. I bought a little BTC back then but put it in a BTC betting site that didn't last long. I accepted the risk at that time. I finally got back into it with the talk about the Xapo debit card but got Shift cause I'm in the U.S. I'm not an expert by any means but I understand for the most part how BTC works and I still don't get what it means. I like coinbase a lot and I like that I have the debit card connected to it in case I need to spend it quickly. I just don't want to be worried about them. Hardware wallets and cold storage just seem inconvenient. And what if I lose the paper or hw/wallet. Doesn't seem more practical.
Mycelium is one of the oldest and most trusted mobile Bitcoin wallet apps on the market. However, the Android app is widely regarded as superior to the iOS version. That being said, its packed with features and even shows tickers and stats for traditional stocks so if that interests you, it may help you delete some other apps on your phone as well. With the Mycelium Bitcoin Wallet you can send and receive Bitcoins using your mobile phone. 100% control over your private keys, they never leave your device Mycelium Bitcoin Wallet for iPhone. A mobile-exclusive software wallet, Mycelium is an open-source wallet platform with full support for Bitcoin. While it cannot be used with other cryptocurrencies at this time, it’s continually The Default Bitcoin Wallet. Mycelium Wallet is great for bitcoiners. We will make it useful for everybody. Not Leaving Mankind Overboard. Bitcoiners know: no matter how hard banks try, a good wallet is still better than any e-banking app. We feel we should invite the fiat people to test the privilege. Bitcoin has invaded the world by offering an alternative to government-backed currencies that we all know from. What are the best bitcoin wallets for 2019? Bitcoin has invaded the world by offering an alternative to government-backed currencies that we all know from everyday use. Proponents argue that.
The 6-Second Trick For How to Trade Bitcoin Futures - TD Ameritrade
Recuerda guardar de una manera segura sus palabras, ya que de ello depende que puedas recuperar tus fondos. Recomiendo la wallet Jaxx Liberty. Es mucho mejor... Samourai Bitcoin Wallet Tutorial – Setup, Dojo, ... Why Does My iPhone Battery Die So Fast? An Apple Tech's 14 iPhone Battery Drain Fixes! - Duration: 15:00. There are likewise lots of other bitcoin wallets readily available. Blockchain.com is another top wallet linked to a bitcoin exchange. Mycelium is one of the most secure mobile wallets, but it can ... bitcoin wallet iphone bitcoin wallet in hindi bitcoin wallet in india ... Sweeping a Bitcoin Paper Wallet with Mycelium Phone Wallet app - Duration: 2:38. Dash Infonode 32,581 views. The third of my bitcoin wallet tutorials. Today I show you the basic functionality of a wallet called Mycelium, as well as a couple of the more advanced features, including using paper and ...