Bitcoin wallet's & the ledger nano s

Oneleg

Oneleg

Member
Joined
Sep 14, 2019
Messages
51
Hi guys and gals I am new I wanted to introduce myself in the proper form but it will have to take a second seat for now. As It seems I really need to get my donation squared away first. I have purchased my first bitcoins on coinbase and was going to use electrum for my wallet. But I truly have a hard time trusting all this especially after reading the reviews for electrum download for android and thought to myself. Should I get this thing called a ledger nano s witch looks like a thumb drive but my understanding is it becomes your wallet & you can't lose your bitcoin assuming you still have the device. I'm really looking forward to hearing from you who have any thoughts on this ? I'm not very good with computers and if u guys think this  ledger nano s will further complicate things maybe it's not good idea. I just don't want to lose any extra $ because some application won't work or in 3rd party fees. Please let me know what you're thoughts are sory for the long rant. 

 
Never had any problem with Electrum on Android. Update when needed and you'll probably be fine. If you want to hold large amounts of crypto the ledgers are well known. I do not use one, but if you decide to buy one get it directly from manufacturer. Many reports of resellers stealing peoples' BTC with modified firmware on the ones they sell.

 
Hi Oneleg, late answer but here it is anyway!

If you want to have several cryptocurrencies, the Nano is great and pretty easy to use. It is very secure because your pin/password is entered on the device, meaning it can't be seen nor entered from your pc that may have spyware/viruses/hackers and the like. If you lose it, you can still use a pass-phrase to get your wallets back no problem.

That being said, I would just start out with a wallet like electrum, Especially if just using bitcoin and only one wallet.

 
There are several alternative devices and clearly more will come as the crypto world is slowly accepted more mainstream.

However, if you are new to Bitcoin, then unless you plan on keeping them any length of time, it's not a necessary expense IMO, as your buy and sell will be almost simultaneous, or within a day or 3 of each other. 

So since I assume you don't plan on speculating, (which holding would effectively be) Electrum should be fine for your initial needs.

 
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