Quote from: Abbatty on Today at 06:51:01 AM

Quote from: Deenaxyz on July 20, 2024, 07:04:35 PM

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

There is no need to be confused, you should try and understand them properly and identify what type of wallet you’re using first only then will you be able to figure out if you are using the right wallet to store your bitcoins.

Do you even know what Hot and Cold wallet are? In simple terms Hot wallets are wallets connected to the internet while cold wallets are wallets not connected to internet so basically Trust wallet is a hot wallet. Although the risk of wallets connected to the internet is higher and they are more likely to be compromised than cold wallets so ideally trust wallet is not the best wallet option to store bitcoin. Even among other hot wallets there are complaints about trust wallet security and how they are easily compromised and the fact that it is a multi coin wallet makes it an easy target for scammers. I advise you switch to a different and more secure wallet to store your bitcoin like blue wallet or Electrum Wallet

Quote from: Z_MBFM on August 27, 2024, 07:25:46 PM

Trust Wallet is a Non-custodial wallet but it is not a reliable wallet for big amount of bitcoin. Electrum wallet is a widely used Bitcoin wallet which is known as a trusted and very strong wallet so far. so if you want to hold a large amount of Bitcoins, you can choose Electrum. Because big whale holders use electrum wallet as software wallet. or you can also go for hardware wallets.

Thank you for your kind explanation, pardon me for asking such question.
I have read several topics which have given to me by other kind users, you just added more information that I might be needed in term of safer choice in choosing better hot wallet in term of security, now I will look into blue wallet and electrum wallet and learn how to use it.

There are are different suitable coins for each devices but when you hold a large amount of bitcoin then you should consider using cold Wallet