Quote from: NicNacCoin on Today at 03:29:32 PM

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.

You can use Electrum wallet, Blue wallet, such wallets to store bitcoins. But since you are using a trust wallet you are not going wrong. If you can safely keep your wallet seed phrase then you can definitely use trust wallet. I myself have used electrum wallet and trust wallet as well. All are safe but you must keep the wallet keys very safe otherwise any wallet will not be safe for you to hold any investment.

For a large amount of Bitcoin it is better to store in a cold wallet, no doubt about that because it is not connected to any online device, all you need to do is secure your private keys. When it comes to hot wallet for smaller amount of Bitcoin in Satoshi, the best wallet as far as I'm concerned are electrum and bluewallet, I will recommend them to anybody that is looking for hot wallets to choose from. I believe that trustwallet is also good but my preference are the two that I mentioned although the most important thing to note about any wallet of choice is to secure your private keys and seed phrase, hide them in more than one place because they are the only proof of ownership to your coins in the Blockchain.