How to Avoid Crap Software Wallets. Ensure Security and Backups to keep your Cryptocurrency Secure

Описание: Keep all your crypto safe & upgrade to a Ledger Nano X Hardware Wallet https://shop.ledger.com/pages/ledger-...

Alternatively, if you prefer a 100% Open Source wallet, a Trezor One is also a great value wallet https://shop.trezor.io/product/trezor...

A video that looks at some important questions to ask if you are looking at different software wallets, especially useful if you are starting out. It looks at the question of open source (like Electrum), the question of whether a wallet does things in a reproducible way (follows standards like BIP39) and what issues you can run in to if you go with something closed source that doesn't do things in a reproducible or standardized way. (eg Atomic Wallet) Using a hardware wallet is always better, but all software wallets aren't created equal...

If you want help choosing a wallet, the guide at Bitcoin.org is a great place to start
https://bitcoin.org/en/choose-your-wa...

Ian Coleman's BIP39 tool:
https://iancoleman.io/bip39/

WalletsRecovery:
https://walletsrecovery.org/

Chapters
00:00 Intro
01:26 Who are you Trusting?
01:55 What if wallet creator disappears?
02:15 Does your wallet follow standards?
05:25 What recovery tools can you use?
05:57 How robust are your backups?
06:45 Is this wallet inherently insecure?
07:32 Outdated information and guides
08:40 Does the wallet support modern features
10:15 Closing thoughts

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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.

For your first purcahse, just stick with CoinBase: https://www.coinbase.com/join/5691c9d...

For Trading, just start with Binance: https://www.binance.com/?ref=18111926

By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)

Don't have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger: https://shop.ledger.com/?r=5243ecbb84...
(If you are just starting out, I would just recommend a Ledger Nano S)

If this was helpful, feel free to send me a tip:
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