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What is the best digital wallet?

Discussion in 'Approved Wallets' started by wiseagent, Aug 12, 2017.

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  1. wiseagent

    wiseagent Member

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    For beginners in the world of Bitcoin, what would be the most appropriate / best digital wallet to work safely?

    Every time I do new research I end up discovering a new digital wallet and one always ends up looking better than the other. Each one presenting more advantages than others (which doesn't always mean something good).

    I find it very difficult / tricky to make a final decision without receiving some feedbacks (preferably from people who already use some of them, of course ;)).

    What would you say?
     
  2. alexanderzx360

    alexanderzx360 New Member

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    Since I started using BTC as a payment method, I've had only one wallet, which is MultiBit HD. It has great security measures, it's very light (you don't have to worry about needing too much space in your computer, it's only like 50Mb) and for a newcomer like me, it was plain simple and easy to use.

    You should definitely check out Multibit

    Cheers!
     
  3. wiseagent

    wiseagent Member

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    Among the searches that I've done, I haven't yet met MultiBit... But for the description that you gave it, seems to be a very interesting option. I'll certainly consider it.

    It's always good to have more options available (especially if they are simple) to be able to evaluate them and make the most appropriate choice.

    Thanks for the reply.
     
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  4. overcast

    overcast New Member

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    I have tried BTC.com, JAXX and Coinbase. I found coinbase to be lot better for three currencies. It can accept litecoin, ether and bitcoin. But if you want more options. You should go with the Jaxx. Do note that coinomi and some other wallets are good too. But they may require you to go through lot of hoops before you can properly use them. Coinbase and Jaxx seems to be lot easier in that case.
     
  5. wiseagent

    wiseagent Member

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    I've read many good things about Coinbase. Most of the comments are very positive.

    What do you tell me about Blockchain? Ever heard of it? I think it seems to be another very interesting alternative (and very easy to use).
     
  6. JoeMilford

    JoeMilford New Member

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    I have always heard good things about Coinbase, actually. I've never heard of or used Blockchain. It is pretty hard to keep up with all of the developments surrounding bitcoin and how to use it; that is definitely for sure. I am just now getting into the world of bitcoin usage, and I have accumulated some bitcoin but not yet spent any of it or traded any of it yet.
     
  7. wiseagent

    wiseagent Member

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    Which digital wallet are you using to store your Bitcoins? Or is there any way to store Bitcoins other than through a digital wallet?

    Every day it seems like new information is coming up and I get lost, haha! There are many updates to stay tuned all the time... Things have to be made easier, not complicated. :D
     
  8. Authord

    Authord Member

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    Well, i use Electrum as prescribed by my Mentor :D. because we use desktop and it is the best wallet for desktop users, hands down. The feature that drove him toward Electrum in the first place was the fact that you can open multiple wallets using the same seed. You can also create and sign transactions without being connected to the internet. In addition you have the option of downloading a “root public key” that you can use with mobile applications to monitor your Electrum wallets.
    The UI is super easy to use and is not only tailored to beginners but also has advanced functions. It is a definite must try if you are looking for a multifunctional wallet to hold your funds.
     
  9. wiseagent

    wiseagent Member

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    So... For what I have read, do I need to have two digital wallets? One online to receive the Bitcoins and another one on my desktop / notebook (which can be stored on a pen drive, for example) to stock Bitcoins that have already been won?

    Am I right? Is this the safest way?
     
  10. oportosanto

    oportosanto Moderator
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    I have just installed electrum too as @RyanWeb told me it was a good one. I don't think you need to have 2 digital wallets @wiseagent, electrum is just enough, and it's safer than web wallets.
     
  11. RyanWeb

    RyanWeb Administrator
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    You need a wallet to store your bitcoins, and an exchange to exchange your bitcoins for cash, or cash for bitcoins. Exchanges work as a bank, and they are great for buying or selling bitcoin, and some of them also offer a wallet service. But the whole point of Bitcoin is to be in total control of your funds, so I like to move my Bitcoin from the exchange to my own wallet on my PC. This way if the exchange gets hacked, goes out of business or gets shutdown, my bitcoins are safe on my PC :)

    Just be sure to make a backup (usually done with a seed word), and store it somewhere safe!
     
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  12. oportosanto

    oportosanto Moderator
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    Yeah, but even if we have the seed stored the wallet in our computer can still be hacked no? And then we will restore an empty wallet right? Or is it just a matter of access?
     
  13. RyanWeb

    RyanWeb Administrator
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    Yes, unless you take the wallet offline. You can store your seed offline, on a USB stick or even a piece of paper. My seed is written on a paper, in my safe. But I have a backup online in a password protected file, in case my house burns down lol
     
  14. oportosanto

    oportosanto Moderator
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    lol yeah, it's like an anonymous bank account, no question about that, so we are better off not losing access... :)