Excuse my heading if it seems off/alarming. But I recently saw a post about muun and some other app, I will not go in detail on that. In that post I saw a comment saying muun is the best app for beginners. I personally use because, I got to know it through the carrot app. Compared to most of you here am by far a “beginner”( for lack of a better term) and would like to ask. Which wallets are you using and why? Please feel free to drop links for my further reading. Thank you 🙏.
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1 sat \ 0 replies \ @DarthCoin 21 Aug 2022
No need to be alarmed or freaked out.. These things always happen in Bitcoinlandia. That's why the old bitcoiners always stay vigilant and warn the new comers.
Learn by using more wallet apps. Discover which one is more suited for your needs.
Some guides for you to read more:
https://darthcoin.substack.com/p/getting-started-ln
https://darthcoin.substack.com/p/lightning-wallets-comparison
https://darthcoin.substack.com/p/bitcoin-be-your-own-bank-think-like
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30 sats \ 1 reply \ @teco 22 Aug 2022 freebie
hey musallwah, welcome.
Lightning wallets like muun or phoenix are ok for small amounts. They use the lightning network to move bitcoin quickly and rely on private servers to handle your money. For convenience, you can keep using them as your "hot wallet" but be aware that a lot of it is still experimental and shit can still happen.
Level 2 :
The classic way to secure larger amounts is to create yourself an "onchain" bitcoin wallet and transfer the funds into it. Here are 3 apps where you can do it : Electrum(desktop), Samourai Wallet (mobile) or Green Wallet (mobile/desktop).
If you do that, you will have what is traditionally called a software wallet.
You can then further upgrade your security by getting yourself a hardware wallet.
Level 3 :
If you still want to profit of the speed of the lighting network while being your own boss.. , you can look up into how to set-up your own bitcoin/lightning node. That is an excellent way to learn more and a cool way to help the network. Keywords : raspiblitz, umbrel, mynode.
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0 sats \ 0 replies \ @_musallwah OP 22 Aug 2022
Thank you
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1 sat \ 0 replies \ @NetWt1oz 21 Aug 2022
I wrote this up a while back: stacker.news/items/29151
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0 sats \ 0 replies \ @tomlaies 21 Aug 2022
The easiest and fastest way to get self custody is onchain. Take your sheep from the meadows and put them in the safe stable of an onchain wallet.
You can put setting up a node after that if you want.
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0 sats \ 3 replies \ @moneroshill 21 Aug 2022
I think it's a good idea to choose something open source, with lots of eyeballs on the code: bitcoin-qt (aka bitcoin core) and electrum are both good wallets. I would also recommend using linux if you aren't already.
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0 sats \ 2 replies \ @_musallwah OP 21 Aug 2022
What do you mean by Open source?
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0 sats \ 0 replies \ @_musallwah OP 21 Aug 2022
It is something close the bitcoin code?
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2 sats \ 0 replies \ @moneroshill 21 Aug 2022
That's a great question. So, what you have to understand is that computer programs (such as a bitcoin wallet) come in two forms:
The first type of computer program is "Assembly Code". Assembly Code is basically a list of specific instructions for your computer to follow. In order for your computer to run a program, it needs to be assembly code. Different computers may have different assembly.
The second type of computer program is "Source Code". Source code is more of an abstract specification of what the program needs to do. In order to run source code, it must first be converted into assembly code using another program such as a "compiler" or "interpreter". So why use source code? It is a lot easier for programmers to create, review, and modify source code than assembly code. Additionally, source code can be used to make a single abstract program that can be translated into many different forms of assembly code: in other words, you won't have to re-write every program for every new type of computer.
An "Open Source" program is one where the makers of the program share the source code (not just the assembly code) so that others can review it as well as run it. Most of the commercial software you might encounter on a day-to-day basis is not open source, for example Photoshop or Windows or PayPal. However many alternatives are open source like Krita, Linux, or Bitcoin.
Another term you might hear is "Free Software": this basically means that the code is Open Source but also is released under a license that allows you to legally copy, modify, share it, etc. This isn't to be confused with "Freeware" which just refers to any program released at no cost (like WinRAR or Bonsai Buddy).
If you're looking for a secure program, you should choose one that is open source and heavily scrutinized, because there will be many programmers reviewing it for security vulnerabilities. However, many open source programs aren't well-reviewed, so be careful, and try to run the latest versions of the program so that you can take advantage of their fixes and security improvements.
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