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Showing 7 of 7 results by yooper
{...} I'm looking for an android wallet that has multiple coin wallets and allows buy/sell from the app.
There isn't any afaik.
I do believe you are correct.
I am curious why, surely time will expose the reason.
HD wallets compatibility matrix: https://bitcointalk.org/index.php?topic=1000544.0
P.S. Do note that when you import private keys to a client, it *won't* be related to your seed unless you send your bitcoins to any of the addresses generated by your seed.
P.S. Do note that when you import private keys to a client, it *won't* be related to your seed unless you send your bitcoins to any of the addresses generated by your seed.
Ok, thanks! I just need to settle on what wallet I want to stay with and forget the rest. I have 3 at the moment but all are empty now, converted to fiat on coinbase. The fiat wallet on coinbase is FDIC insured same as a bank account. I'm looking for an android wallet that has multiple coin wallets and allows buy/sell from the app.
Are you interested in a savings account because you want a purely riskless way of earning more BTC, or would you be open to a relatively low (but not zero) lending agreement with potentially higher interest?
I ask since I'm a developer working in the space from a finance background, and have been evaluating some projects in the latter (lending) space.
Putting your money in a saving account should inherently be more of the latter but, at least in the US, the FDIC will back you up with the full faith of the US gov't to the tune of $250k USD, making it the former. Not sure how the equivalent in BTC would look like (nor would we want one, possibly?).
I ask since I'm a developer working in the space from a finance background, and have been evaluating some projects in the latter (lending) space.
Putting your money in a saving account should inherently be more of the latter but, at least in the US, the FDIC will back you up with the full faith of the US gov't to the tune of $250k USD, making it the former. Not sure how the equivalent in BTC would look like (nor would we want one, possibly?).
fwiw .... coinbase also had FDIC insurance on the fiat wallets.
Bitcoin is not just money. If he were just money, he would not be able to attract a lot of investors. The greatest advantage of bitcoin is the constantly growing price. And even ease of use.
certainly not growing since I bought some last week, lol.
I'm a noob, so treading lightly but I put what I had picked up back into a fiat wallet for now, I suspect I can buy back in at a much lower cost before long, there seems to be a run on cash-outs after the recent spike in value, just a guess regarding the falling price, down almost 10% since last week.
I've only seen 12 word pass phrases mentioned in what I've read so far, but as a noob I am less than a week into this .... new hobby I guess.
Today I installed the coinami wallet app on an andriod phone, it created an 18 word phrase .... how significant is that? I assume if makes the crypto even stronger but maybe beyond necessity? Also since most other wallets only use 12 words wouldn't there be a compatibility issue if you wanted to change wallets?
Today I installed the coinami wallet app on an andriod phone, it created an 18 word phrase .... how significant is that? I assume if makes the crypto even stronger but maybe beyond necessity? Also since most other wallets only use 12 words wouldn't there be a compatibility issue if you wanted to change wallets?
If I am secure with my passphrase is there a need to also secure a copy of wallet.dat? I'm a noob, just reading up on all this for the past several days.
Created a coinbase account and a bitcoin wallet on my android phone.
Sent coin to the phone.
No clue where to locate wallet.dat.
I read somewhere that your phrase IS your coin.... don't understand why I'd need the .dat file.
If you have a wallet.dat file, YES you need to back it up...in multiple locations with independent security. Anyone taking that file will have taken the bitcoin with in it.
If you're using Coinbase you won't get or need a wallet.dat file. Coinbase doesn't give you your private keys. Coinbase is a bank, you have an account, they have the bitcoin wallet, and they keep record of how much they owe you. There are convenience benefits to Coinbase and theoretical security disadvantages,
If I have a wallet.dat file? more confusion, I can't find one on my phone. There is a backup option in settings in the bitcoin android app, but no clue where this backup is stored, although I've seen some info suggesting it is on the SD Card in a format not compatible with other wallet.dat files. I am running Android 7.0 and can encrypt the phone ... but don't know if that applies to the SD card. I can remove and copy the sd card but don't know it that would work to insert in a new phone....
There is also an export function in settings, I can set a password and create a text file to email to myself, an email doesn't seem like a good idea... but the only option I can see at this time.
Regarding the pass phrase... that alone is not sufficient to somehow restore/import coin into a new wallet? My main concern is if the phone is lost or damaged, while I can remotely wipe the phone I'd need to restore the coin somewhere....
What I am starting to understand is why it will likely be a long time before this technology will be understood well enough to gain widespread consumer confidence.
Re: Short question - Short answer [Official Thread] - pass phrase vs wallet.dat?
If I am secure with my passphrase is there a need to also secure a copy of wallet.dat? I'm a noob, just reading up on all this for the past several days.
Created a coinbase account and a bitcoin wallet on my android phone.
Sent coin to the phone.
No clue where to locate wallet.dat.
I read somewhere that your phrase IS your coin.... don't understand why I'd need the .dat file.