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Mashfiqun2018

Choosing Wallets to Keep Your Crypto Safe

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Your crypto definitely matters to you the most. I've seen some wallet discussion here and saw that most newbies as well as some veterans use wallets that should be avoided using. I'm referring to sites like Coinbase, coins.ph, blockchain.info and so on.

To really store your crypto safely, you should follow a few simple guidelines. I'm listing the ones that comes to my mind. You guys can also suggest some in replies.

  • Get a hardware walletIf you hold a big amount of money in the form of cryptocurrencies, you should get a hardware wallet. They work like cold wallets or like a vault. It only works when you want it to i.e. send money. Trezor, Ledger are some of the leading vendors in this regard
  • Avoid web wallets: Web wallets are prone to hacking and downtime. Most of the times, they hold the private keys to your wallets. So the real owner of the money stored in your account are the website owners. They can send money without your consent if they choose to do it. Some examples were listed above: Coinbase, coins.ph etc. Don't keep big amounts there.
  • Even if you use a web wallet, set up 2FA: No matter how hard your password is, always set up 2FA for your account. I'd suggest Authy as your authenticator app.
  • Locking because of gambling money: Some sites like Coinbase do not support sending or receiving gambling money. So there is a chance to get your funds locked. So if you use sites like these, use some other site or exchange as a middle man.
  • Back up seed/private key: Always backup your seed/private key by writing it down and keep it in a safe place. Only let access to trusted people from your family. Don't share it to anybody else. This also applies to 2FA codes.

 

Recommended wallets:

Any wallet that gives you the private key/seed phrase only are safe wallets to use. Some examples are: Electrum for BTC, Metamask for ETH, Trust Wallet for a variety of cryptocurrencies, TronLink for TRX etc.

Good luck playing on Stake.

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I really like the idea of a wallet for cryptocurrencies. Since I don't use the desktop a lot, I prefer some mobile wallet.
Currently I already use some and I think they are so safe that I leave some dollars in cryptocurrencies there.

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1 minute ago, Dp10011 said:

I really like the idea of a wallet for cryptocurrencies. Since I don't use the desktop a lot, I prefer some mobile wallet.
Currently I already use some and I think they are so safe that I leave some dollars in cryptocurrencies there.

Choosing a wallet is indeed a tough choice to make. Mobile wallets are more convenient for me also because I have my phone with me all the time. You can also uninstall the app and install it again when you need it. That way, even if you lose the device, the thief won't find anything on phone. It works like a cold wallet haha. 

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5 minutes ago, Mashfiqun2018 said:

You can also uninstall the app and install it again when you need it. That way, even if you lose the device, the thief won't find anything on phone. It works like a cold wallet haha.

Wow!!
I didn't imagine that. You really gave me a good idea about that. It's a great plan! :) 

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23 minutes ago, Dp10011 said:

Wow!!
I didn't imagine that. You really gave me a good idea about that. It's a great plan! :) 

Good luck using the advice hehe.

13 minutes ago, Luigicostell said:

Ledger wallet is good hardware cold storage wallet. Also has an app for your phone. This way anything you cash out are your coins.

Yes Ledger is a top notch vendor. I do plan to get one soon after the corona situation cools down.

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The main wallet I'm using was made in our country and it is very reliable. I can hold crypto in there and convert it to our country's currency anytime. Lots of form of securities like ID verification, email, phone number, 2FA so I don't have to worry. 

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Yeah,You must be aware to choosing wallet. Because by this wallet you can safe your currency. So,before choosing wallet you should be know anout its safety.

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1 hour ago, evet said:

The main wallet I'm using was made in our country and it is very reliable. I can hold crypto in there and convert it to our country's currency anytime. Lots of form of securities like ID verification, email, phone number, 2FA so I don't have to worry. 

You mean coins.ph? The thing is, it is an online wallet after all. So there are some field of concern even if you use all the security features available. The main theme is to not holding coins on a web wallet for long term. There's always a risk of losing funds.

42 minutes ago, MrX said:

Yeah,You must be aware to choosing wallet. Because by this wallet you can safe your currency. So,before choosing wallet you should be know anout its safety.

Yes, absolutely. There's no point in storing your hard-earned coins somewhere unsafe like web wallets and exchange wallets. 

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2 minutes ago, hayach201 said:

Since I started working in the field of encryption, I have only used a blockchain wallet to collect all bitcoin and ethereum currencies inside it. I have used Bayer Bank to collect some symbols and ripple currency that I expect to have a very big future.

Whatever wallet you choose, use it safely. The safety of your coins are in your hands. I've faced problems with wallets before. That's why I'm trying to make others aware about it.   

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9 hours ago, Mashfiqun2018 said:

Whatever wallet you choose, use it safely. The safety of your coins are in your hands. I've faced problems with wallets before. That's why I'm trying to make others aware about it.   

I agree with you and we can obtain security for our wallet by refraining from sharing passwords with others and avoiding clicking and entering untrusted sites and applications because they can be fraudulent

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I use mobile wellets to store my crypto currency. I not store all currencies one wallet I make defrent account with defrent wallets. Mostly I use Blockchain,coinbase, spectro. Capo and 1,2 other wallets .I use last 2 years and im satisfied with these wallets.

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1 minute ago, Ali saher said:

I use mobile wellets to store my crypto currency. I not store all currencies one wallet I make defrent account with defrent wallets. Mostly I use Blockchain,coinbase, spectro. Capo and 1,2 other wallets .I use last 2 years and im satisfied with these wallets.

I am not talking about satisfaction here. The web wallets have features like no fee internal transactions for P2P trades and so on. But what I'm talking about here is the true safety of the coins stored there.  

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i dont think every web wallet is hackable, never heard if anyone hacked blockchain.com wallet ever, except someone's own foolish acts like to click on phising link or lower security, i am using blockchain wallet from past 8 years, never had a problem.

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19 hours ago, sahil777 said:

i dont think every web wallet is hackable, never heard if anyone hacked blockchain.com wallet ever, except someone's own foolish acts like to click on phising link or lower security, i am using blockchain wallet from past 8 years, never had a problem.

Well, technically speaking, anything available online can be hacked or breached. Some years ago blockchain.com even had a hacker attack who then returned the hacked 200+ BTC. I don't quite remember though. And I'm not saying that it WILL be hacked. Why risk your money when you have better alternative solutions available?

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1 hour ago, Tushi said:

The wallet I am using was made in our country and is very reliable.  I can hold the crypto there and convert it to our country's currency at any time.

I have no problems with using any wallet. Just make sure you don't store to much in online web wallets, use 2FA and all the other security options available. And I'd like to suggest the wallets mentioned in the original post.

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Choosing a good wallet is a very important thing because you store your money in it and it is cryptocurrencies and therefore a good and strong wallet in its code is appropriate for storing the cryptocurrencies that you have bought such as the blockchain wallet that has the strength of its keys when you enter the account and several strong steps you must do before You log in to the account and all of this makes it not possible to steal

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Now I use a TronWalletMe, has just BTC and USDT and TRX obviously, but I like how I can restore it with just 12 words passphrase, very simple and useful wallet, I hope guys will add some more cryptos soon!

Simple, but robust protection, many cool features, including instant swap and built-in browser, check it out, you might like it, cheers!

https://www.tronwallet.me/

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9 hours ago, bobdice said:

Choosing a good wallet is a very important thing because you store your money in it and it is cryptocurrencies and therefore a good and strong wallet in its code is appropriate for storing the cryptocurrencies that you have bought such as the blockchain wallet that has the strength of its keys when you enter the account and several strong steps you must do before You log in to the account and all of this makes it not possible to steal

Yes, the security of your wallets matter a lot because you are keeping your hard earned money. All the security features available on the wallet should be used, for example: 2FA, stronger password, pins, fingerprints, face locks and so on.

8 hours ago, GeorgeFeb said:

Now I use a TronWalletMe, has just BTC and USDT and TRX obviously, but I like how I can restore it with just 12 words passphrase, very simple and useful wallet, I hope guys will add some more cryptos soon!

Simple, but robust protection, many cool features, including instant swap and built-in browser, check it out, you might like it, cheers!

https://www.tronwallet.me/

It's a really good wallet and also quite secure in my opinion. You have the mnemonic phrase as well, which indicates that you are the true owner of your wallet and the crypto stored inside it.

6 hours ago, Stefannnn20033 said:

i dont think every web wallet is hackable, never heard if anyone hacked blockchain.com wallet ever, except someone's own foolish acts like to click on phising link or lower security

Don't spam man. Sahil777 already wrote this. @hui Can you take a look?

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3 minutes ago, Dror said:

I have mycelium wallet 

And for big money buy leather 

Mycelium is a good wallet with the private key functionality which is essential for the safety of your crypto-currencies. And it's Ledger who are hardware wallet vendors. Trezor is another great one.

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Choosing a wallet is the most important thing you need to do so that you crypto currencies or money that you earn is safe. There are so many scammers and hackers out there so you need to double secure your money. 

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