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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
Old 08-06-2017
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Default Where to open my first wallet

Hello,

So I have never had cryptocurrency before. I am wondering where should I open my btc wallet? what are the differences between different providers? security, privacy and anonimity are the main priorities!
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  #2  
Old 08-06-2017
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Default Re: Where to open my first wallet

I like Coinbase. Never had issues with them
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Old 08-06-2017
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Default Re: Where to open my first wallet

if you want security dont keep anything online period
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Old 08-06-2017
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Default Re: Where to open my first wallet

online wallet companies disappear with peoples coin all the time. Cooinbase is OK as long as you have NO plans of sending coins to gaming sites, darkweb or any other exchange
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Old 08-06-2017
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Default Re: Where to open my first wallet

Are you saying that they can be not trustworthy?
Where do people keep the big amounts of bitcoin then?


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Old 08-06-2017
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Default Re: Where to open my first wallet

I wouldn't use coinbase. They kinda try to become the bitcoin paypal these days and restrict you from certain transactions. blockchain.info is pretty easy to handle with no such restrictions or safe and easy paper wallet.
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Old 08-06-2017
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Default Re: Where to open my first wallet

I dont get it.
So is it completely unregulated market or someone can put restrictions and see the transactions?


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Old 08-06-2017
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Default Re: Where to open my first wallet

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Originally Posted by Mayhard View Post
I dont get it.
So is it completely unregulated market or someone can put restrictions and see the transactions?
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Think of exchanges as banks, you give them your coins and they hold it for you. It defeats the purpose of Crypto currencies, DECENTRALIZATION. Keep your coin in hardware wallets.
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  #9  
Old 08-06-2017
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Default Re: Where to open my first wallet

Do hardware wallets give you full anonymity and control of the coins?


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Old 08-06-2017
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Default Re: Where to open my first wallet

Hardware wallet or a wallet that you have private keys for.

Electrum / Mycelium are great

Trezor / keepkey are great
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  #11  
Old 08-06-2017
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Default Re: Where to open my first wallet

Let me ask this way: how were the first btc wallets acquired?
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Old 08-06-2017
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Default Re: Where to open my first wallet

I use Electrum.
You Couldn't pay me to use Coinbase. Like Danshan said above theyre the paypal of cryptocurrency and they can lock up your account for any reason at any time and then good luck getting your funds back.
The whole point of cryptocurrency was NOT to have to deal with that crap.
Another thing - a few days ago there was a hard fork- a split in the blockchain to BTC and BCC. If you had your funds with an exchange you did not have access to your private keys. This means that those exchanges now ended up owning the divergent blockchain's equivalent of your bitcoins in the new currency. I.E. If you had 10 bitcoins with coinbase, now you should also have 10 BCC (Bitcoin Cash token) but you do not - coinbase has those. If you had your own wallet like Electrum youd have those private keys and would have far more control over your cryptocurrency.
With another hard fork looming on the horizon in November this is something else to consider.
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  #13  
Old 08-07-2017
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Default Re: Where to open my first wallet

So how were the first wallets obtained?
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  #14  
Old 08-07-2017
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Default Re: Where to open my first wallet

From what I could understand, paper wallets are the most safe and private way to create those wallets.

I have a question tho: when I press on generate new address, do I get entirely new btc wallet or just some new address?

http://imgur.com/a/U605v
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Old 08-07-2017
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Default Re: Where to open my first wallet

first thing you need to do if its not already gone is move that btc now, you just showed your private key to the world.
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Old 08-07-2017
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Default Re: Where to open my first wallet

Quote:
Originally Posted by danshan View Post
first thing you need to do if its not already gone is move that btc now, you just showed your private key to the world.
It's an empty wallet.
//



Do I understand correctly that one wallet consists of one Bitcoin Address (Public Address) and one Private Key?

Like in this case we can see 3 different wallets.

Am I right?
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Default Re: Where to open my first wallet

yes those are private keys each one has an address
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  #18  
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Default Re: Where to open my first wallet

that private key is the same thing as a trezor or keepkey
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  #19  
Old 08-07-2017
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Default Re: Where to open my first wallet

Mayhard, get yourself an electrum wallet. Very simple and straight forward setup
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  #20  
Old 08-10-2017
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Default Re: Where to open my first wallet

Quote:
Originally Posted by JamesNorth101 View Post
I like Coinbase. Never had issues with them
Coinbase lost people thousands when they refused to pay out free bitcoin cash and they dont like miners sending payments there and they have a limited exchange payment like 500 left them best thing I ever did and got a ledger nano s hardware wallet
I also got 3K of bitcoin cash for free
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  #21  
Old 08-10-2017
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Default Re: Where to open my first wallet

Coinbase really do think they are a PayPal twin but they are the worst thing since gonerea
I would never advise using them as your money is at risk in any exchange and under there rules so keep it in your private wallet is always best

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  #22  
Old 08-10-2017
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Default Re: Where to open my first wallet

Quote:
Originally Posted by danshan View Post
online wallet companies disappear with peoples coin all the time. Cooinbase is OK as long as you have NO plans of sending coins to gaming sites, darkweb or any other exchange
Or want free bitcoin case

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