Wallet — Basics

Just revisiting some quick tips for #newbies #pow #public #blockchain users only.

if you just getting started with bitcoin or any pow crypto coins or been using or storing them for a while, you not must forget the roots and fundamentals.

Hot Wallet — It gets connected to live internet at some point in time essentially to sign / send a tx i.e. spending transaction — exposes the private key of the address from in the process

Cold Wallet — It never ever gets connected or online and can always keep receiving inbound amounts Paper wallets are best n cheapest form of cold wallet that can used once n thrown away.

#Cold wallets need to either “import”ed or “sweep”ed in order to used or spend — https://coinsutra.com/private-key-import-vs-sweep-difference/

Any thin #wallet is always dependent on connectivity to live up2date node server where-as self-sufficient qt / cli wallet takes a while to sync up to latest block height in order to be usable.

Beginners should always resist the attraction of quick and fast — thin n 3rd party wallets and always start a long learning journey of core wallets of any coin — either “qt” GUI wallet or command line “coin-cli” wallet

Almost all #proofofwork #blockchains i.e. #POW has #node #wallet - everyone who use support he #public #blockchain secures own you coin value

You can run fullnode either on clearnet or over onion 🧅 #BTC has >55% of nodes running in onion out of total 15000+ live fullnodes and 50000+ bitcoincore wallets around blockheight 777000 . Other notable pow chains are #LTC #RVN and rest are babychains for now !

Always delete hot wallet to test practice restoration before sending any large refunds to it to be safe.

Large funds are always best to keep in self custody node wallets rare n occasional use

Final word — Cannot see private key 🔑 or seed 🌱 in any wallet means not your coin. 😲

Use wallet which u learn or understand best only

That’s all for now n Thank you 🙏 ! ⚡️ https://getalby.com/p/captjack ⚡️

Some Cold wallet nostr posts

some nostr specific lightning ⚡️ Layer2 wallets with blockchain mainnet option

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