1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g - Bitcoin Address

Paper Wallet Vanity addresses.

EDIT 2/21/2020. I am no longer offering the service described below as I no longer have access to the necessary hardware.
~~~~~~~~~~
Hey all,
I have recently been messing around with vanity addresses for paper wallets. After a little tinkering I got the system working well and can generate wallets up to a certain complexity quite reliably.
I've been able to generate wallets like this one: 1Bitcoinjqekek8HwmT8Cp8ojH9b7Quhzi
This one: 1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6
And this one: 1Genesisud7wjt8Lkto75ANupmviwC2wpW
I personally haven't been using paper wallets for cold storage until now, but with the value of BSV going up and also having read the following paper about the possibility (albeit very small) of compromise of private keys in HD wallets, that for the BSV I intend to sit on long term, it's probably not the worst idea ever to use a paper wallet for that. But hey, it would be nice if those addresses were a bit more recognizable than a random address, am I right? :)
In going through this exercise, I happened to notice that there are services out there that will generate these kinds of addresses, but they seem overly expensive!
e.g., At vanity.coin.dance they want 1 BTC(!!) to generate an address starting with "Satoshi" e.g., like the "1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6" I generated above. That's day-light robbery!!
Furthermore, the above service treats split key generation (which seems necessary for security when having a third party generate the wallet) as an "advanced" feature only. Imagine paying 1 BTC for an address only to have the private key compromised! (Seems almost negligent).
So anyway, whilst I have this system set up and working, I was thinking I could extend a temporary offer to anyone who is interested in getting a vanity address (or addresses) for paper wallet cold storage.
So all that said, the procedure, following the secure split key approach, would be as follows.
  1. You would go to bitaddress.org and download a local copy of the web site (and validate it against provided signatures).
  2. Run that downloaded copy of web site on an off-line system.
  3. Click the Vanity Wallet Tab.
  4. Click the "Generate" button in Step 1.
  5. Copy the public key from Step 1 and PM me with that key (it's quite long so copy/paste is the way to go). Also indicate in the PM the address prefix that you want (can't include invalid characters; I will tell you if you included any). Be sure to keep a copy of the private key from Step 1 (or keep the web page open). If you lose this key the whole process will be for nothing. Do not lose (or compromise) it (and definitely do not PM it to me!).
  6. Send payment (as per the schedule below) to 1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6 and PM me the TxID.
  7. When I receive payment, I will generate a partial private key that you need for Step 2 in the bitaddress.org page.
  8. You take the partial private key that you generated in Step 1 (that you keep secure and never shared with anyone) and paste it into the first box in Step 2 in the Bitaddress.org page (that you are still running locally and off-line).
  9. Finally, you paste the partial private key that I PM you back, into the text box where it says "Enter Pool Part Private Key (from Vanity Pool):" (Note: PMing this partial private key is fine; so long as you keep your partial private key secure (from Step 1), the process is still secure; the process is intended to work this way).
  10. Click "Calculate Vanity Wallet" et viola! A wallet will be produced that meets your prefix requirement and is 100% secure since the partial private key that you generated in Step 1 never left your control.
What you do with your new shiny address from that point on-wards is your prerogative, the same as any other paper wallet that you produce. Our deal is done.
The pricing schedule for this (temporary) service is as follows:
  1. 3 Characters (e.g.,) 1BSVxxxx....xxx 0.01 BSV.
  2. 4 Characters (e.g.,) 1Coinxxx....xxx 0.02 BSV.
  3. 5 Characters (e.g.,) 1Coinsxx....xxx 0.04 BSV.
  4. 6 Characters (e.g.,) 1BuyBSVx....xxx 0.1 BSV.
  5. 7 Characters (e.g.,) 1Satoshi....xxx 0.75 BSV1.
(Footnote 1: Turns out most 7 character combinations are pretty hard to generate and may take quite a while to generate. The prefix "1Bitcoin", however, is not as hard (higher chance of generating), and I can do that one for 0.25 BSV).
(Note: I can't guarantee that I can deliver anything longer than 7 characters, hence there is no price for this).
(Note: The reason for the steep increase in price as a function of number of prefix characters is the time it takes to generate the addresses as they become exponentially more complex and the fact the process is non deterministic).
Compare the above price for a 1Satoshi... address (0.75BSV) to vanity.coin.dance (1BTC!!!) and hopefully you'll see that I'm being pretty reasonable with this, though do note that the "1Satoshi" prefix, specifically, is a hard one to generate and I may not be able to do it unless you are willing to wait a while.
Anyway, I'm not sure if anyone will be interested in this, and you'll have to trust me as someone who has been in this sub since the total membership was only in double digits, that I'm not a fly by night scammer who is going to take your payment and run! To that end I advise that I have made posts in this sub with direct reference to my Australian based registered business that accepts BSV as payment, so it's not hard to track me down. If you go back far enough you'll also see that I was involved in running a Bitstagram competition and came good with the BSV prize in that case. That said, a small amount of trust will be required if this is going to work out. Test me with one of the cheaper options first, if you have doubts.
Terms and Conditions
  1. Any PM received with an "order" is an offer by you to purchase a vanity address. It's not binding until I accept the offer in writing (by PM).
  2. All "orders" will be processed in the order they are received; I will guarantee a 48 hour turn around for everything up to 6 characters and 1681 hours (7 days) for 7 characters. In reality most will be processed much quicker, but I have to cover my ass! If I get too many orders (unlikely!!) I reserve the right to reject any that I cannot meet in a timely manner (any payments that have been made will be refunded to the specified address, less any BSV Tx fees).
  3. This offer is on the table until I withdraw it. I may withdraw it at any time by making a follow up post to this sub edit to this post.
  4. The address that is generated is the address that you get and that is final. If there is something in the address that you don't like (like a random swear word; albeit very unlikely) we can discuss a discounted rate to have a second try at it. (I'd rather you go home happy, if possible).
  5. If there is some address that I cannot generate in the above guaranteed time frames (some are harder to produce than others), I will let you know by PM and refund your entire purchase price.
  6. The entire risk of the use of the generated vanity address lies with you. (I recommend you test it with a small amount and make sure you can withdraw it, before loading it up for real).
(T&C Footnote 1: Some 7 character combinations can take a long time to find (e.g., "1Satoshi") and may take up to two weeks or more! I reserve the right to not even attempt to generate any specific combination that could adversely affect my ability to turn it around in a reasonably timely manner. In that case you can choose a different prefix or I will refund your money, if at that stage you had already paid). For any potential prefix I can check the estimated time to generate and report back on whether it's reasonable, before we agree to go ahead.)
ps/ Here are two three addresses that I generated showing that funds are able to be deposited and withdrawn successfully.
https://blockchair.com/bitcoin-sv/address/1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6
https://blockchair.com/bitcoin-sv/address/1Bitcoinjqekek8HwmT8Cp8ojH9b7Quhzi
https://blockchair.com/bitcoin-sv/address/1BuyBSVMHGx6dSTpLMhALXvEPVEDMStxoR
Both addresses accepted funds and both allowed the BSV to be successfully swept (in this case I used Simply Cash to deposit and sweep).
~~~~~~~~~~
EDIT 2/21/2020. I am no longer offering the service described below as I no longer have access to the necessary hardware.
submitted by PaidSockPuppet to bitcoincashSV [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are — an incredibly friendly Stealthex team — to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence — you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150–200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below. See you soon!
Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to CryptoMarkets [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are – an incredibly friendly Stealthex team – to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence – you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150-200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below.
Follow us on Medium, Twitter, Facebook, and Reddit to getStealthex.io updates and the latest news about the crypto world. For all requests message us at [email protected].
submitted by Stealthex_io to blockmason [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to ethtrader [link] [comments]

All the basic things you need to know about how crypto wallets work

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are — an incredibly friendly StealthEX team — to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence — you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150–200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below.
See you soon!
Follow us on Medium, Twitter, Facebook to get StealthEX.io updates and the latest news about the crypto world.
For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to StealthEX [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to BitcoinMarkets [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are – an incredibly friendly Stealthex team – to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence – you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150-200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below.
Follow us on Medium, Twitter, Facebook, and Reddit to getStealthex.io updates and the latest news about the crypto world. For all requests message us at [email protected].
submitted by Stealthex_io to FeatherCOin [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to CryptoCurrencies [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are – an incredibly friendly Stealthex team – to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence – you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150-200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below.
Follow us on Medium, Twitter, Facebook, and Reddit to getStealthex.io updates and the latest news about the crypto world. For all requests message us at [email protected].
submitted by Stealthex_io to Nimiq [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to CoinTelegraph [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are — an incredibly friendly Stealthex team — to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence — you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150–200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below. See you soon!
Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to CryptoCurrencies [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are – an incredibly friendly Stealthex team – to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence – you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150-200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below.
Follow us on Medium, Twitter, Facebook, and Reddit to getStealthex.io updates and the latest news about the crypto world. For all requests message us at [email protected].
submitted by Stealthex_io to WePowerNetwork [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to bitcointrading [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to u/SwapSpace_co [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to CryptoNews [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to CryptoCurrencyTrading [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are – an incredibly friendly Stealthex team – to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence – you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150-200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below.
Follow us on Medium, Twitter, Facebook, and Reddit to getStealthex.io updates and the latest news about the crypto world. For all requests message us at [email protected].
submitted by Stealthex_io to litecoin [link] [comments]

Types of cryptocurrency wallets. Advantages and disadvantages

In order to increase the security level of your funds, you can use wallets. They have a higher level of protection in comparison with the exchanges. In this article, you will get to know about the advantages and disadvantages of wallets, get acquainted with their varieties and the most popular examples.

What is a digital wallet?

A digital wallet is a place to store your public and private keys. It consists of a private key and a public key (in our previous article you can learn more about what private and public keys are).

Hot and cold wallet

Cold wallets are a way to store funds offline. These include any tools that are not tied to the network. Cold storage eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft.
Advantages: Higher security. The possibility of offline storage.
Disadvantages: Poorly adapted for regular payments. May be lost with the carrier. Require backup.
Hot wallets are programs designed to store digital coins with a constant Internet connection which allows you to send cryptocurrencies anywhere.
Advantages: Great for regular and micropayments. Convenient and easy to use. Do not require physical media.
Disadvantages: Can be hacked. Always connected to the Internet. If you uninstall the program, you may lose access to your wallet forever.

Types of wallets

There are five types of digital storage that you can use.
1. Online Wallet This is a service owned by a third party. Depending on the wallet device, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies, but also to carry out convertible operations, trade on exchanges, calculate commissions with the help of built-in calculators, etc.
Advantages: Quick registration. Anonymity. Verification is not necessary. Ability to work with multiple cryptocurrencies.
Disadvantages: Risks inherent in cryptocurrency exchanges. There is a possibility of wallet to be hacked. Additional expenditure.
There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several wallets.
Examples of popular online wallets: HolyTransaction. The multi-currency wallet, founded in 2014, supports more than 10 of the most popular cryptocurrencies. It has an intuitive interface, Commission in comparison with other wallets. Coinbase. The wallet, created in 2012, supports bitcoin and ether. Cryprtonator. The most popular multi-currency wallet in the CIS.
2. Mobile Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of payment for goods and services. The current version of the blockchain is usually stored on the application server that provides access to updated data and does not require a large download of data to the phone.
Advantages: It can be safer than online wallets. Conveniently use on the go. Offer additional features such as QR code scanning.
Disadvantages: Unfortunately, mobile wallets are not the most secure. Therefore, it is hardly suitable for storing large amounts of funds.
Examples of popular mobile wallets: Coinomi. One of the best wallets for Android that supports more than 50 cryptocurrencies. Its advantage is the ability to enter seed-phrase, which allows you to recover wallet data. Xapo. Wallet from California company that supports Bitcoin. Access to the funds in the wallet is insured, it is possible to issue a debit card, you need to bind a mobile number.
3. Hardware wallet
This is a separate removable device like a flash drive. This method of storing keys is not very popular yet, because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer.
Advantages: Private keys are never exposed to your computer. The hardware is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent.
Disadvantages: The only downside to hardware wallets is that they cost money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure; especially if you hold a significant amount of coins.
Examples of popular hardware wallets: KeepKay. Supports 4 major cryptocurrencies. Ledger Wallet. Trezor.
4. Desktop wallet
These are the programs that you install on your computer.
Advantages: Desktop wallets store keys on your hard drive. Considered that its one of the most reliable options among offline wallets. It is a program installed on your computer, with which you can access data about your cryptocurrency account.
Disadvantages: Their disadvantage is the need for constant updating, which takes a lot of memory. Because desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) program, who are themselves from the very beginning, download whole blockchain and keep them updated. “Thin” (“light”) — download the necessary information from third-party services. Despite the fact that the file with the key remains on the computer, there is a risk that the data from the services will not be downloaded the ones that are needed.
Examples of popular mobile wallets: Exodus. Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core. One of the best wallets for bitcoin, working with all operating systems. Armory. In addition to Bitcoin Core, which allows you to increase the level of storage security.
5. Paper wallet
A unique option for storing keys, which is a printout of a picture with a QR-code containing a public address and a private key. Long-term storage option for those who do not trust electronics.
Example: bitaddress.org
Each wallet has its advantages and disadvantages. Which option to choose depends on the goals.
submitted by SwapSpace_co to bitcoin_uncensored [link] [comments]

Crypto Currency Wallets: 101

So you are ready to buy your first crypto. Wondering how to store your coins? With so many crypto wallets out there it can be very tricky to decide where exactly to keep your digital currency, right? But here we are – an incredibly friendly Stealthex team – to guide and help you realize which type of wallet is just right for you.
Let’s start with some basics. What is a cryptocurrency wallet? In simple terms, it is a kind of a digital equivalent of a bank account that allows you to store, send and receive digital coins. The main feature is that crypto wallets have two important components: a public key and a private key. The public key is a wallet address to which anyone can send you coins. The private key is both a login and a password used to access your currency.
The other feature of crypto wallets is the fact that they don’t actually store currency in any physical form. And when someone sends you crypto, they are essentially signing off ownership of their coins to the address of your wallet. The transaction is confirmed by a record on the blockchain and a change in a balance in your crypto wallet.
There are different classifications of wallets. Let’s go through the main types and features of digital wallets.
1. Classification by type of access to the wallet:
Pros: can help you make transactions in the blink of an eye, user-friendly.
Cons: security risks.
Pros: high level of security.
Cons: not easy to access, low speed.
2. Classification by wallet’s “weight”:
Pros: no risks of transferring personal information over the network.
Cons: risk of getting a virus on your computer, usage inconvenience.
Pros: independence – you can choose which service to use, very easy to handle.
Cons: risk of hackers attack.
3. Classification by the ways of private key storage:
Pros: good security level, convenience, a great choice of wallets, free downloads.
Cons: risk of computer viruses and hacker attacks.
Examples: Exodus, Bitcoin Core.
Pros: simple, very handy, free downloads.
Cons: risk of hacking, losing or damaging your phone which will lead to problems with access to your crypto.
Examples: Xapo, Coinomi.
Pros: easy to use, able to work with multiple cryptocurrencies, high transaction speed.
Cons: security risks, additional expenses such a commission to the service.
Examples: HolyTransaction, Coinbase.
Pros: very high level of security, easy to set up and use.
Cons: expensive ($150-200), inconvenient if you need fast access to your coins.
Examples: KeepKey, Trezor.
Pros: highest level of security.
Cons: risk of destruction or loss of paper that contains wallet info, totally not for beginners.
Example: bitaddress.org.
As you can see there is no such thing as the best crypto wallet. The right wallet for you will be the one that matches your needs and the purpose of your cryptocurrency savings.
If you have any questions or comments, please hit us up in the comments below.
Follow us on Medium, Twitter, Facebook, and Reddit to getStealthex.io updates and the latest news about the crypto world. For all requests message us at [email protected].
submitted by Stealthex_io to MediBloc [link] [comments]

WARNING: vertaddress.org has a severe bug! (your paper wallet might become unspendable!)

The private key string generated by vertaddress.org tool has a bitcoin format, not a vertcoin format. As such, it won't be recognized by a wallet like coinomi and a paper wallet that contains that address will not be spendable.
Funnily, the Vertcoin ADDRESS is calculated correctly.
The competition "WalletGenerator.net" does it correctly.
Example: Use Brain Wallet phrase = eirghdrjgr7zgruhgj
bitaddress.org generates: - Addresss = 1AGpKMZbJVCR22tqXX9SHoxLC7pKSkZoz6 (correct) - Private Key = 5JcPjeXpVGK1uAMWEW4t7QqHEF2v7xWV2Agu5zm17Z1LkPsdint (correct)
vertaddress.org generates: - Address = VjGeE4j3iJ6d5onzGJo4iiHBsw7HtRzaew (correct) - Private Key = 5JcPjeXpVGK1uAMWEW4t7QqHEF2v7xWV2Agu5zm17Z1LkPsdint (INCORRECT!!!)
walletgenerator.net generates for Vertcoin: - Address = VjGeE4j3iJ6d5onzGJo4iiHBsw7HtRzaew (correct) - Private Key = 7gdFG7Q5zUL6UQcabf8pqBQGFLkuGxLetYiYQdbeh5UsnV6LYXn (correct)
EDIT: Seems more complicated than what I thought: See my reply here: https://np.reddit.com/vertcoin/comments/7npjcq/warning_vertaddressorg_has_a_severe_bug_youds3qagi/
submitted by Amichateur to vertcoin [link] [comments]

Trezor-T as offline computer for cold storage sweep process

Dear Trezor Team and community!
I have a good idea as i think. I wrote to support of Trezor but they rejected my idea. But i think the bitcoin community will glad to have this feature:
For example i have a bitcoin paper wallet. This wallet was generated in offline computer from bitaddress.org site for example. I put there bitcoins. And i would like to "sweep" bitcoins from there. What can i do? Now i have only few some ways. I can use Electrum online computer, Mycelium (and other) mobile wallets and etc. But if there many bitcoins? I can use some offline Electrum computer (importing private key and signing) + online Electrum computer (watching and making a transaction). Or Armory program. But it's not easy even for advanced user! These programs is very hard installing to offline computer.
I would like to suggest for Trezor T feature: "Trezor T" could allow to enter through "Trezor T" touch screen any private key of any cold storage and to sign transaction from computer. So "Trezor T" works here exactly as offline computer for signing! I think it could be fine to have same feature. Because sweeping from cold storage very very dangerous operation from security. In sweeping process we should trust to computer fully.
So brief scheme:
1) wallet.trezor.io has a feature: sweep from cold storage, for example
2) We click there "sweep" and enter address where to send from cold storage
3) The Trezor T ask to enter private key through touch screen
4) We enter (yes, it can take a long time, for example 1-3 minutes), the trezor checks and if private key is valid the trezor calculates bitcoin address from there sweep and sends to computer. As well it shows the bitcoin address where we will send bitcoins. We check and accept.
5) a computer sees in blockchain all UTXO outputs and makes transaction and sends it to Trezor
6) Trezor shows us BTC amount and the bitcoin address where we will send (which was got from computer in step 2)
So we have here: safe way to sweep, safe way to see BTC amount and where to send. All these data are checked by TRezor T microcomputer. We trust our Trezor so we trust this transaction and provate key of cold storage is secured.
What do you think?
submitted by Perlover to TREZOR [link] [comments]

[TIL] Bitcoin keyspace is massive

Today I realized how massive and astronomical are the numbers behing the Bitcoin protocol (and Encryption in general).
A private key is something like this:
5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF 
The number of possible addresses in the Bitcoin keyspace is nearly the same of atoms in planet Earth! The chance of someone find one private-key via brute-force is 1 in 2160, or 1,46 × 1048, or a number with 48 zeros on the right side! The number of atoms in the Universe is aprox. 1080 The number of stars: 1024 Grains of sand on Earth: 1019 Chance of winning a big lottery: 2 x 108, eight zeros on the right side. (one in 200.000.000) Get hit by a lightning: 6 x 105 (one in 600.000) Number of atoms in our Solar System: 1057 and on Earth: 1050
Google calculator shows that winning the lottery 1 quadrillion times AND get struck by 1 quadrillion lightnings in a year is 8333 times easier than crack one Bitcoin private-key!
(10^48) / (10^15 * 2*10^8 * 10^15 * 6*10^5) = 8 333,33333 
So go ahead, boot a LiveCD/USB to generate as many Bitcoin addresses as you want on a clean offline computer (consider them your "swiss bank accounts"), at any client you choose (https://www.bitaddress.org for example), and protect them well. They are rare, precious bits.
Remember: Encrypt (test it) and Backup (test it), in that order!
Disclaimer: I'm sleepy and I may have missed some atom here and there.
Edit: Sorry, folks! As expected by me (I'm not a Mathematician), my sleepy math was exponentially wrong. As a chance of rolling the dice 2 times and getting 2 six in a row is 1/36 and not 1/12 (as MeniRosenfeld pointed out), I had to recalculate the odds:
So, winning the lottery 5 times AND get struck by a lightning is at least 7 times easier than crack one Bitcoin private-key!
(1,46 * (10^48)) / (((2 * (10^8))^5) * (6 * (10^5))) = 7,60416667 
Certainly still impressive.
submitted by anykind to Bitcoin [link] [comments]

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Der Share Key ist eure neue Bitcoin Adresse von der PaperWallet. Auf diese Adresse könnt ihr nun eure Bitcoins beliebig senden und diese werden auf der Wallet gespeichert. Der Secret Key ist eurer Privater Key. Dürft ihr auf keinen Fall an eine andere Person weitergeben und man sollte ihn gut und sicher verschließen. Denn mit diesem Key kann ... BTC/EUR: Aktueller Bitcoin - Euro Kurs heute mit Chart, historischen Kursen und Nachrichten. Wechselkurs BTC in EUR. 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g Bitcoin address with balance chart. wallet: Bitfinex: Received: 9,194,483.13 67 BTC (235235 ins). first: 2016-08-10 14:04:31 UTC. last: A Bitcoin wallet is as simple as a single pairing of a Bitcoin address with its corresponding Bitcoin private key. Such a wallet has been generated for you in your web browser and is displayed above. To safeguard this wallet you must print or otherwise record the Bitcoin address and private key. It is important to make a backup copy of the private key and store it in a safe location. Bitcoin Fees, Fee Calculator, Mempool, N-Featured, satoshis, Transaction Fees, transactions Use Bitcoin and Bitcoin Cash to play online casino games here . Show comments

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