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420BlazeItFgt

Bitcoin Wallet Preference

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So as there have been vulnerabilities found even on light weight clients like Electrum and online wallets like blockchain.info have always been shady with their activities, I wanted to ask this question to everyone.

What do you prefer using? Online wallets or light weight clients? Please do specify if you can.

And please do not say Coinbase, as it is an EXCHANGE and not a WALLET provider.

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2 hours ago, xMossx said:

I use light weight clients. I've used Jaxx and Exodus and I've used Electrum in the past. Electrum has segwit wallets which is nice. Don't really use online wallets and have not purchased any hardware wallets.

Almost forgot about hardware wallets like Trezor and Ledger Nano. None the less I don't think anybody here would be using it.

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On 09/01/2018 at 13:12, 420BlazeItFgt said:

Almost forgot about hardware wallets like Trezor and Ledger Nano. None the less I don't think anybody here would be using it.

Actually, when I 1st heard of those, the idea became really appealing, so started doing my research on it. If we neglect the idea of physically damaging :P or losing those, the idea of having them in the pocket instead of "in the ether" just seems much more safe to me. So really considering making this investment and saving that way, at least a bit :)

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4 hours ago, Bojana said:

Actually, when I 1st heard of those, the idea became really appealing, so started doing my research on it. If we neglect the idea of physically damaging :P or losing those, the idea of having them in the pocket instead of "in the ether" just seems much more safe to me. So really considering making this investment and saving that way, at least a bit :)

Ya, I'm scared I would damage or somehow break it even though I always take good care of things. Would be interested in trying one out and might consider purchasing one.

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12 minutes ago, xMossx said:

Ya, I'm scared I would damage or somehow break it even though I always take good care of things. Would be interested in trying one out and might consider purchasing one.

A hardware wallet in today's market is the best way to store any crypto asset be it coins or tokens. Its safe in that the private keys never shared and worth investing in if your portfolio of assets is very big.

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8 minutes ago, DreamStage said:

I've always used Online ones. But since recent events im probabily going to change into user pc wallets.

An online wallet is never safe because the private keys are owned by the provider and they often get hacked or undergo downtime. Its always safer to use a desktop wallet.

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I've always used Electrum. 

And to be honest a hardware one is really tempting to me. The part that is more attractive about it is that they support several other coins apart from BTC, so you can storage everything in the same place instead of having dozens of wallets for your different coins or keeping them in an exchange (which seems the most unsafe option for me).

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12 hours ago, nytewind said:

Ledge nano S and myetherwallet offline wallet

physical loss of coin, robbery, fire.

degradation of data over long term storage.

damage to the wallet itself

 

Oh, okay, I thought of the physical ones, but I really tend to take good care of my stuff, especially the valuable ones like that, regardless of the conditions one cannot control, such as fire etc. ;) This degradation of the data however... that actually could be an issue, it is still relatively new and untested technology, it can be a legit concern how they will show over longer periods of time :/

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1 hour ago, fabianabank said:

i cant use wallet offline causa my pc its like a potato :P but i use xapo or mercadobitcoin

and i can loss my btc sometime, if my pc dies 

Your hard drive will not die if pc dies. Unless u get some weird hugh power surge that damages the entire hard drive. So it's safe to stay with them at your pc

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59 minutes ago, fabianabank said:

my Hd dies two weeks ago xD my pc is basic and have like 10 years old or more

In case you are storing a single copy of the paper wallet passphrase that should make this a quick backup. You should be able to recover the wallet from the passphrase simple. I dont know which wallet is thing you are using but I believe this is getting off-topic.

 

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Hardware wallet, always.

I have some Nano Ledger S + an external hard drive where I have downloaded some blockchain (BTC, LTC, ...). I backup all the wallet.dat files on an encrypted USB stick too, just in case.

And I split my coins between those 2 hardware solutions + have a little amount on some exchanges i'm willing to loose (it's mostly for trading).

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I've used Electrum since I first jumped into the crypto world. If given the chance to choose again I probably would have gone elsewhere, but I chose Electrum because the idea of downloading the entire blockchain gave me stomach ache. I tend to use Coinpot as a central "hub", since they have conversion between Bitcoin, BCH, Doge, Litecoin and Dash without any fees, but since it's an online microwallet, I try not to keep funds in there for too long. Once I've accumulated a solid amount of Bitcoin (1 or 2 perhaps?), I'll be moving it to a hardware wallet and locking it away in a solid container until I need it.

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