Things to consider before choosing a wallet

[Nezar 7169]

All that I mentioned is true and I agree with you because the most important thing in the field of encryption is that we choose a safe wallet so that our money is not stolen so we have to do special research before choosing any wallet in addition to observing the conditions that I mentioned within this post

[scorpiali 5626]

6 hours ago, lovecrypto19 said:

the value is the trust wallet that is supported by binance. so you already know the quality of the binance, of course it will always be good. so that's what most people use trust wallet for my community.

Right Now i use it only for BNB and ethereum token, or the binance Dex but not fr other coins like bitcoin or litecoin,yesterday i try to send litecoin from yobit to trust wallet and the transaction it's canceled i dont know why 

[Yunusalemu 0]

It is a very great article you posted here about main things to consider when selecting a choice of crypto currency wallet, the information you posted is precised, consized, I and acurate. 

very nice, keep it up 

[BTC Future 3946]

Basically most of us beginners are using the exchanges to store their crypto. I'm not recommending this, unless you want to be able to trade at times of high volatility. In case you think exchanges are safe, take a look at all the exchanges that have been hacked in the past and never refunded their users. 

[scorpiali 5626]

2 hours ago, lovecrypto19 said:

I also only just did that, for shitcoin I collected it in MEW wallet. Why is your transaction canceled, is there something wrong with the address so it's canceled.

That's why we call them shitcoins there is many of there are scam and dont really exist or dont have any blockchain you should search for any coins before to send it because some of them are died 

[Brand1 1336]

I completely agree with you with what you say. We must be very careful when choosing the wallet that we want to store the money in. It is the basis for everything. Also, we must pay attention to these things that I mentioned inside this post because they are very important things.

[scorpiali 5626]

18 hours ago, lovecrypto19 said:

Most of them are tokens, which do not have their own blockchain. And I already know which tokens and coins have the potential.

Yes right there is many different between the token and coin they dont have his own blockchain the majority use the ethereum blockchain and if they cant build his own block they fall like other token 

[pacific 2268]

Thanks for this informative post my friend. As a I am a new user here and simply new to the crypto world, It would be much helpful for me to choose a right wallet that suits my requirements. Much appreciated! 

[AmjadBydn 0]

That's right my friend ! reputation and reviews are very important when we want to chose a wallet !
for me I think Trust wallet is the best because it's contain all thing that you said ! ( security - reputation ... )

[bliznec 22268]

1 hour ago, hunasaloow said:

There are many great wallets but to suit your needs is a great need to find wallets. It is recommended to use a wallet provider if you plan to convert your money into fiat and vice versa, but for better storage you should use hardware wallets or run an electronic wallet to store or preferably use a wallet. Paper for offline storage.

Keeping funds is at the discretion of investors and whether he wants it or not. There are many wallets, but I choose one. It is also possible to store on the cryptocurrency exchange, but in small quantities. 

[iloveyobit 6599]

Indeed, what I have learned about your subject exists and is required for me before I choose any portfolio in order to store my money in it, and do not forget also the quality of the support team to solve problems.

[scorpiali 5626]

20 hours ago, lovecrypto19 said:

Most of the tokens that have been able to survive in 1 year for example, then they will play and change from tokens to coins. And that is a good thing for projects that do that.

Yes trues if the token succeed they will change to coin and that's mean the project is good and the team work on his token we have many example like this the most famous coins in the top ten in coinmarketcap was start like that  

[scorpiali 5626]

2 hours ago, lovecrypto19 said:

We can see that this has often happened, meaning that the project bearer and team are serious about running their project. I am very happy with a project like that.

I remember when was Tron just a token based on ethereum chain and airdrops some token to his community and now it's a coin and have his own Blockchain like any other coins

[Saj555 2250]

On 12/21/2019 at 8:39 PM, Digicoin said:

The type of wallet you want

This factor comes down to personal preference. For example, if security is your number one priority, then, hardware wallets should be in your mind. But if you want a convenient access your coins, a mobile or web wallet may be your preferred choice.

Ease of use

Sending, receiving and storing cryptocurrency can be complicated and confusing, particularly for beginners. Your wallet should suit your tech knowledge and crypto experience. While crypto novices might focus on finding a wallet that’s simple to set up and use, experienced holders might look for advanced features, like an in-wallet exchange and multisignature transactions.

 

Security features

Find out what security features the wallet includes, such as two-factor authentication and multisig functionality. Will your private key be stored online or offline? Has the wallet ever suffered security breaches?
Other features. Does your wallet include the ability to exchange among currencies in your wallet or provide easy access to live fiat exchange rates or other market information.

 

Reputation

What level of community trust does the wallet have? Check out independent online reviews to gauge how other users rate the wallet and whether they’d recommend it.

Supported cryptocurrencies.

Are you looking for a wallet that stores just one crypto, like bitcoin, or are you in the market for a multicurrency wallet? Make sure the wallet you choose is compatible with the cryptocurrencies you need to store, and remember that some coins and tokens can only be held in an official wallet.

The team behind the wallet

See what you can find about how long the company’s been in business. What qualifications do they have? Are they continually working to upgrade and improve the wallet?

Costs

While most crypto wallets are free, choosing a hardware wallet means parting with some cash. Consider the price and shipping costs when making your decision. Some wallets also charge a fee for every transaction you make.

Of course these are the main factors that should be considered when choosing a wallet. There are several wallets that match to these terms and a user can easily get use to them. Coinbase,Coinbase wallet,Electruem, Trust,Atomic,Blockchain etc. are very good as online wallets. So A user can now realise how to choose a definite wallet. 

[Raqeebzy 6456]

Of all the factors to consider when choosing a wallet, compatibility and security should be first, you don't want to lose your crypto. Most people don't even have the idea that there are different categories of wallet.Thank you for educating and reminding some of us 

[scorpiali 5626]

On 4/10/2020 at 3:48 PM, aqua said:

I remember the first time I knew crypto. I ask myself, how can I keep every satoshi that I get from the faucet? Then I try to search for more information, and I found that Electrum, Bitcoin-qt, and multi-bit is the first bitcoin wallet that I used to save my satoshi that I earn from the faucet. I don't know about the reputable of each wallet, but I only know that is the wallet that the website recommends to their visitors. So I start to download and try to use it, I think hm so it's simple to use, and I can send it to any exchanges I want without a problem. And then, I try to search the other bitcoin wallet, which later, I found about the multi-wallet that can save so many cryptocurrencies.

I never use Electrum wallet but i hear about it many time in this forum i think they have a low fee that's why all use this one 

[Thekingcallme 1975]

That's right. You should take all of these things into consideration when choosing a wallet for cryptocurrencies. You should focus on safe wallet fees.

[Yomose 3704]

The first thing I consider before choosing a wallet is security, and the second is the coin the wallet supports. These are the two main things I need why choosing a wallet and I make use of non custodian wallets. 

[BitcryptoHan 2557]

On 5/26/2020 at 7:27 AM, Yomose said:

The first thing I consider before choosing a wallet is security, and the second is the coin the wallet supports. These are the two main things I need why choosing a wallet and I make use of non custodian wallets. 

Security should be first while others should be subordinates, that is why I am even still have planes to get a hardware wallet that store private keys and seed phrase offline. 

[gourav789 2834]

I always check, reputation as well it's security level while I plan to join a New Wallet , but I never used any new wallet because there is higher chance that we got scammed there . for better security I used coinbase as well blockchain wallet for longtime .

[bitcoinb 1359]

3 hours ago, gourav789 said:

I used coinbase as well blockchain wallet for longtime .

Personally I prefer to use on-custodial wallets like Atomic Wallet, Coinomi, Guarda,, Enjin Wallet... I use Coinbase only when I want to make a FIAT withdrawal to my bank account.

[Treat1234 0]

On 12/21/2019 at 3:39 PM, Digicoin said:

The type of wallet you want

This factor comes down to personal preference. For example, if security is your number one priority, then, hardware wallets should be in your mind. But if you want a convenient access your coins, a mobile or web wallet may be your preferred choice.

Ease of use

Sending, receiving and storing cryptocurrency can be complicated and confusing, particularly for beginners. Your wallet should suit your tech knowledge and crypto experience. While crypto novices might focus on finding a wallet that’s simple to set up and use, experienced holders might look for advanced features, like an in-wallet exchange and multisignature transactions.

 

Security features

Find out what security features the wallet includes, such as two-factor authentication and multisig functionality. Will your private key be stored online or offline? Has the wallet ever suffered security breaches?
Other features. Does your wallet include the ability to exchange among currencies in your wallet or provide easy access to live fiat exchange rates or other market information.

 

Reputation

What level of community trust does the wallet have? Check out independent online reviews to gauge how other users rate the wallet and whether they’d recommend it.

Supported cryptocurrencies.

Are you looking for a wallet that stores just one crypto, like bitcoin, or are you in the market for a multicurrency wallet? Make sure the wallet you choose is compatible with the cryptocurrencies you need to store, and remember that some coins and tokens can only be held in an official wallet.

The team behind the wallet

See what you can find about how long the company’s been in business. What qualifications do they have? Are they continually working to upgrade and improve the wallet?

Costs

While most crypto wallets are free, choosing a hardware wallet means parting with some cash. Consider the price and shipping costs when making your decision. Some wallets also charge a fee for every transaction you make.

This is a well constructive and educational content o Will give you like for this post actually you have mentioned key factors that should be considered before choosing a wallet will be of great benefit for everyone who reads it.

[George10 9932]

On 12/21/2019 at 4:39 PM, Digicoin said:

you want

This factor comes down to personal preference. For example, if security is your number one priority, then, hardware wallets should be in your mind. But if you want a convenient access your coins, a mobile or web wallet may be your preferred choice.

Yes it's true what matters here on choosing which wallet to use between hardware or online it's about a person's preference in line with what he wants to use it for and for easy access and trading operations mobile or web wallets are recommended as you said.

[BitcryptoHan 2557]

5 hours ago, George10 said:

Yes it's true what matters here on choosing which wallet to use between hardware or online it's about a person's preference in line with what he wants to use it for and for easy access and trading operations mobile or web wallets are recommended as you said.

This is not wrong, but for storing high amount of coins, you need hardware wallet, paper is also good but hard to use. I have not seen any reason for online wallet yet than using it for frequent transactions. 

[Honny143 13612]

Crypto wallets are like banks how we selects safe and secure banks same like in wallets, we select secure  wallet to store our coins because in online so many wallets exist, but select before check all security and features then chose one best wallet, in my suggestion myether wallet  coinbase and yobit are best in their business.