How do I choose a cryptocurrency wallet? Every wallet has different features, transaction customization, fee estimation, levels of security and privacy, and affiliations. The criteria for wallets is different depending on the person, their needs, and risk model. Wallets that used to be good may no longer be good or share the same principles.
You don't have to use one wallet forever. Use many different wallets for different purposes and feel free to change them often. One of the criteria I use for wallets is that if it doesn't support SegWit, I don't use it, because I want the fee discounts.
NOTE: This talk was recorded prior to the cancellation of 2X. A couple mobile wallets like EdgeSecure beta (formerly Airbitz), GreenAddress, and Samourai now support SegWit.
This is part of a talk which took place at the Bitcoin Open Blockchain (BOB) community event on October 29th 2017 at the mHUB innovation center in Chicago, Illinois: https://www.meetup.com/Bitcoin-Open-Blockchain-Community-Chicago/events/244248063/
Hot vs. cold wallets - https://youtu.be/Aji_E9sw0AE
How do I secure my bitcoin? - https://youtu.be/vt-zXEsJ61U
What happens to our bitcoins during a hard fork? - https://youtu.be/sNR76fWd7-0
What is the role of nodes? - https://youtu.be/fNk7nYxTOyQ
Could governments take over exchanges? - https://youtu.be/9PrJQeKl9w4
How to get people to care about security - https://youtu.be/Ji1lS9NMz1E
Innovations in wallet design - https://youtu.be/K5Ei3_D8LQ8
Fungibility, privacy, anonymity - https://youtu.be/y3s8c7YDtXU
Hardware, Software, Trustware - https://youtu.be/Etyjc1JdmFU
Forkology: A Study of Forks for Newbies - https://youtu.be/rpeceXY1QBM
Bitcoin, Lightning, and Streaming Money - https://youtu.be/gF_ZQ_eijPs
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.
Follow on Twitter: @aantonop https://twitter.com/aantonop
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8
[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8
MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042
[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388
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Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
I like all his vids but had to dislike here.
Guy asks you right here, right now, "What do I need to look for in a wallet?" And you don't mention: Controlling your private keys; multifactor sig; encrypted; anonymity... that's kind of a dis-service to the guy and the everyone watching this video who doesn't understand the basics.
@aantonop. I enjoy watching all your videos. Please post more videos. My question is. I have Coinbase and they don’t allow me to control my money, they don’t give me the keys words. How can convert to a better wallet that allows me to control my money. Thanks
Hello Andreas, i really enjoy your information on Bitcoin. I have been watching your videos for 3 months. However, i tried to buy bitcoin tonight at coinbase and first it took all day to for them to accept my account and now that i have an account they put limits on what i can bit like à 100 à week limit. Please give me advice on how i can buy bit coin.
Damn we need your guidance in this time of flux! WTF is going on! I can't afford 1 btc at these prices. Who is ramming the price up so fast? Will this be a massive short and grab? I'm scared! help mommy! lol
"soon" be a thing of the past
hopefully, but unlikely meanwhile the planet..... Solar tech/wind are better but are just adjunct solutions to the real problem: a culture of consumption. The currency may be digital, but the goods/services it buys still require the great machine of civilization
jtctai100, We have a great big fusion reactor in the sky called the sun, which is capable of generating thousands of times more electricity than the world could ever need. Also the earth is never without wind.
Renewable energy sources continue to get cheaper, and continue to be implemented in the grid; steadily advancing, eventually to take over. Fossil fuels will soon be a thing of the past.
Thank you Andreas Stullkowski, I just purchased one on Amazon and that is what I need to hear. Do you know if you can also require a password, in case the device is ever stolen? I also like the idea of the recovery sheet that I can place in a geographically different location in case of local disaster.
I use Ledger nano and am very satisfied. Easy to send / receive various cryptos. A good compromise if you want to do Transactions sometimes from a computer. Transfers have to be commited manually on the Ledger, so it is hard to hack (I am not sure if it is impossible), and you can thus do it from unsafe computers.
(I have not used Trezor, so I cannot compare.)
Fees are a bit high, to the point that for those who actually use bitcoin feel as if their being robbed %50 of their bitcoin each transaction. Bitcoiners say hodl, but hodl may be the only viable thing to do with bitcoin at this time, unless your'e willing to pay mega high tx fees. In older videos Andreas says you can send thousands of dollars in bitcoin for next to no fees.
It's not so much about economics as much as it is about the technological bottleneck, is it not? 4 txs per second is not all the bitcoin network can provide, it's technologically limited to have this capacity at this point in time.
Or did we create a hamstrung system so that we could pay higher fees just because? This is not the way to mass adoption, not one bit closer to the final goal.
It's called supply and demand. Transactions are limited to (1MB) of block size every 10 minutes. That's the supply. Demand is as of this moment > 100MB of pending transactions.
The market decides who's transactions are more important by how much people are willing to pay for them. They must do this because to provide the supply, they are paying in hardware and electricity (32TW/year), and expect a return on investment.
Now the financial pressure on developers is to provide a better mechanism to reduce demand, or increase supply. Things like Lightning etc are going to help aggregate that 100MB down, but you will have to pay those nodes to help you reduce the blockchain costs.
It's simple free market economics. I know it's painful for those who expected a free transaction model forever, but nothing in life is free.
It's digital gold, not digital silver or copper. There is a reason lower value transactions in coin had lower denomination coins and materials.
Nih Joo I sent a $15 transfer for 50sat/b, which made it around $3, making it 1/5th of my transfer, on Dec 9th, it's still unconfirmed.
4 days in the mempool. Isn't that great?
Clearly the scaling solution that is segshit was doomed from the start and they knew it.
Blockstream has sabotaged and hijacked Satoshi's creation. Segshit coin is an imposter, and it's the truth
Andreas, thanks for all your contribution but you have chosen the wrong political side and will be on the wrong side of history. As you said, you don't have a mobile wallet because none of them support segwit. Spoiler: segwit will never be fully adopted because it has a greater security risk. Lightning Network is useful only in specific use cases, not as a general global scaling solution. Try Bitcoin Cash (BCH). <1 cent fees, fast transactions.
filipebet, this is called RBF (Replace By Fee) and was introduced to Bitcoin later on and was heavily protested against. It makes 0-conf transactions unreliable for the reason you mentioned. Bitcoin Cash got rid of the horrible and destructive RBF.
Tom B real curiosity here: what stops me from leaving the shop and immediately send a second transaction with a higher or even the same fee? Do the miners always pick the first one to be broadcast? What do they choose as the correct one? That's my doubt.
Yep. And with BCH, the probability of a 0-conf tx with a fee not confirming is less than 0.01%. Or pick a lower percentage. Any transaction with a fee goes through, so you could say 0%. With Bitcoin, the risk is high enough such that merchants right now today are not willing to accept them. However, they used to accept them a couple of years ago. That itself speaks for itself. If you're not a merchant yourself, talk to one. From a merchant's perspective, it's very simple and clear.
I think hackers will go after the biggest fish market, as well as the most unsecure fish markets. So I say, get into the most secure and lesser known wallets, as those are less likely to be attacked. Coinbase, sure, might be really secure, but you know hackers are attempting to go after them as they have the biggest stash of coins to potentially grab.
Putting 'what bitcoin wallet should I use?' as a 2nd added in key word in the video description will help make this video pop up when people voice-search on google or iphones. Bitcoin added in, is often the popular question asked to these search engines I would bet, more than just 'what wallet should i use'. Appreciate the videos, and education methods, as always. CHeers
How to become bitcoin trader? Exactly like Bitcoin, multiple digital currencies exist in the marketplace. So if you prefer to buy a few other currencies which aren`t available on Indian Exchange than you can utilize Bittrex. All you have to do is locate an exchange that you favor. Cryptocurrency exchanges have a massive potential to modify peoples minds and opinions concerning cryptocurrencies generally speaking and their application in actual life. So even in the event the exchange is attacked, its still true that you have your money. Furthermore, the exchanges prepare each and every industry for Bitcoin expansion. Existing stock exchanges will also compete to be able to fulfill the users configuration requirements. Sooner or later later on, the prices will grow more equal, meeting somewhere in the middleyour profit is equivalent to the quantity of convergence. No matter how far it is from Kijun, it is likely to return and test that level at some point. The amount of bitcoin is perpetually changing. In the US, it is 1000 USD. Whats even better, seek the services of a seasoned lawyer or at least ask for an in depth consultation. So youve read the newspaper about the meteoric growth of crypto currencies including Bitcoin or Ripple. Then coming up with 1000s of exchange rates simply to go out and get groceries is nearly impossible. Many cities around the world provide a bitcoin ATM where you are able to trade cash for bitcoin. The cryptocurrency world isn`t efficient.