Bitcoin Q&A: How do I Choose A Cryptocurrency Wallet?

Video transcription

I have a question about choosing a wallet I have been using Copay on my iPhone for a while. Then someone said, Oh, you are using Copay. When I started using this wallet, I didn’t even know the relationship. Then I used Trezor someone told me, Oh then you must hate Bitcoin Cash. When I started using the wallet, I didn’t even realize that I felt like I was involved in these arguments. In a way, Do you have any suggestions for this situation, how to find and choose a wallet that matches my own cryptocurrency philosophy, or run a complete Bitcoin node directly [Andreas]? I struggle with this every day. Not only do I have to choose a wallet for myself, but I often need to recommend a wallet to newbies. The standards are usually different.

My wallet of choice tends to have 150 adjustable knobs And the parameters that I can highly customize If my wallet is not supported by my own full node, what a wallet!, [contemptuous gesture] For a novice. I only said three meaningless words: “RBF” “Tor” and “node” [laughter], That wallet [, probably], is not for novices. I [may] recommend another. This is a difficult choice.

 

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Most importantly, this is a choice that changes every three months, at least for me, The entire industry is constantly evolving. What used to be a good wallet is no longer good. The wallet that used to conform to my principles no longer adhere to the principles. I agree with Wallets that were once considered: safe is no longer safe. What I want to do is change my wallet often In about a year. I will switch my main mobile wallet. Petty cash daily wallet, My long-term storage system is not a hardware wallet, but a piece of paper.

That’s another matter. It can stay static for several years. As far as the daily wallet I use broadcast transactions to wallets in the network, I will keep trying and re-evaluate wallets frequently to see if they can keep up with technological development. Now one of my criteria is: If it does not support SegWit, then I don’t want to use it If SegWit is not supported. The transaction fee is too expensive. For me, I need SegWit to get the fee discount If your wallet does not support SegWit. I am not interested in using it. This means that I currently do not have a mobile wallet.

None of them support SegWit. Sometimes you have to tolerate differences. What I can tell you is that no matter which wallet you choose, you are obviously not a traitor of a certain faction. The wrong choice means not because you made a mistake, but because you … Maliciously attempting to destroy a healthy network and was bought by the CIA.  I’ve never worked in a place where the circular firing squad is always fully automatic. No matter what choice you make, almost everyone who has no choice will criticize you

This is not a game of winners and losers. You need to judge for yourself. I don’t pay much attention to those things. You just need to try your best to explore in a very complex and dramatic environment.

 

 

 

 

 

 

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Trezor Wallet Review – Trezor Bitcoin Wallet

 

Keep your coins safe again. Join a community of satisfied users around the world. Easy to use, it only takes 10 minutes to be ready. The intuitive and soothing interface inspires your confidence. Manage your entire digital identity. Coins, keys, or passwords. Equipment that is owned and controlled by you. Advanced features for experts. Compatible with many applications, suitable for electricity users. Do not risk going to bed. Get your Trezor now.

Trezor Hardware Wallet (Official) | The original and most secure ...

The following website allows you to securely use Trezor devices or other excellent cryptocurrency-related services to log in without a password. Create an invoice from your Trezor account. Click on the service name for more information.

Trezor - CoinDesk

Trezor Beta wallet

Before you start, make sure that the hologram seal on the device is valid. If the hologram stamp is missing or the appearance differs from the video above, please contact our support staff immediately. After receiving the information, we will analyze it and contact you. We do not recommend using the device at the same time. The hologram seal is only on the device, not on the box.

You can find more information about hologram sealing in this article. Continue to use the wallet At present, only the Trezor Beta wallet supports mobile wallets.

Trezor Hardware Wallet Review, Ratings & Buying Information

Reviews, ratings, and purchase information for Trezor Hard Wallet

If your Trezor device is lost or damaged, you can use recycled seeds and third-party wallets to spend money. However, it should only be used in emergencies. To always ensure the safety of your money, we recommend that you purchase a new Trezor device to recover the funds (see Reset). More information is available in Electrum.

You can also use Trezor devices to protect your online passwords and credentials through the Trezor Password Manager,

Developed by SatoshiLabs, the manufacturer of Trezor. For more information on its meaning and use, see the Trezor Password Manager, User Manual: Password Manager, and Product Page.

Set up Trezor

When you set up Trezor for the first time, it generates seeds for you. When you need to restore access to your wallet, use this offline backup.

Before you start, make sure that the hologram seal on the device is valid. If the hologram stamp is missing or the appearance differs from the video above, please contact our support staff immediately. After receiving the information, we will analyze it and contact you.

We do not recommend using the device at the same time. The hologram seal is only on the device, not on the box. You can find more information about hologram sealing in this article.

Worried about hardware loss?

Not needed. You can always restore access to coins and assets from offline backups. It only takes 5 minutes. 3 reasons why you can work hard to fall asleep. It can be said that your coins are safe. Off-line. The entire wallet can always be obtained from your personal recycled seed which is 12 to 24 words long. Unique for you. When you set up Trezor for the first time, it generates seeds for you.

When you need to restore access to your wallet, use this offline backup. Cross-Compatible. The Restoration Seed follows the standard we created at SatoshiLabs, but it is widely used and compatible with many wallet applications. Read more about recovery

Important Please note that we do not develop or maintain third-party software, so we cannot guarantee their full functionality. But no matter what third-party application you use, your private key is always protected by the Trezor device.

Easy to use, it only takes 10 minutes to be ready. The intuitive and soothing interface inspires your confidence. Manage your entire digital identity. Coins, keys or passwords. Equipment that is owned and controlled by you. Advanced features for experts. Compatible with many applications, suitable for electricity users.

 

What Is A Bitcoin Wallet? – The Best Explanation EVER

 

The transaction does not start irrevocably. Instead, they receive a confirmation score that indicates how difficult it is to turn them around (see table). Each confirmation takes a few seconds to 90 minutes, of which the average is 10 minutes. If the transaction payment fee is too low or typical, it may take longer to get the first confirmation can take much longer.

The purpose of Bitcoin mining is to become more optimized over time by using dedicated hardware with lower energy consumption, and the operating costs of mining should continue to be in proportion to demand. When Bitcoin mining became too competitive and profitable, some miners chose to stop their operations. In addition, all mining for energy development is ultimately converted into heat, and the most profitable miners are those who make good use of this heat. In fact, the most efficient mining network does not consume more energy. Although this is an ideal choice, the mining economy continues to have miners fighting for it.

How does Bitcoin work?

This is a problem that is often surrounded by confusion, so here is a brief explanation! Basic knowledge of new users As a new user, you can start using Bitcoin without knowing the technical details. Once you have installed the Bitcoin wallet on your computer or mobile phone, it generates your first Bitcoin address and you can create more Bitcoin addresses as needed. You can reveal your address to your friends so they can pay you, and vice versa. actually,

 

bitcoin wallet

 

this is very similar to how email works, except that the Bitcoin address can only be used once. Balance-Blockchain Blockchain is the shared ledger on which the entire Bitcoin network is based. All confirmed transactions are included in the blockchain. This allows Bitcoin wallets to calculate their balance of payments so that new transactions can be verified, ensuring that they are actually owned by consumers. The integrity and time sequence of blockchain is maintained through cryptography.

Bitcoin wallets hold secret data

The transaction-private key transaction is the transfer of value between Bitcoin wallets that are part of the blockchain. Bitcoin wallets hold secret data called private keys or seeds, which are used to sign transactions and provide mathematical proof that they come from the owner of the wallet. The signature can also prevent the transaction from changing at any time. All transactions are sent to the network, usually within 10-20 minutes through a process called “mining” for confirmation.

Processing-Mining

Mining is a distributed consensus system used to confirm ongoing transactions by including them in the blockchain. It performs chronological order in the blockchain to protect the neutrality of the network, Reduce your expenses and go along the rabbit hole. This is just a brief summary of Bitcoin. For more information, read the original paper describing its design, developer documentation, or browse the Bitcoin Wiki.

Let different computers agree on the state of the system. To be verified, transactions must be packaged in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being changed as this would invalidate all subsequent blocks. Mining also creates the equivalent of a competitive lottery that prevents everyone from easily adding new blocks in a row to the blockchain. In this way, no group or individuals can control what is included in the blockchain or replace parts

 

 

 

 

 

 

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