Thanks @cryptosteemz. What is your comment on the report that the Blockchain.info wallet has an advantage in that it allows you to set the fee level according to what you are willing to pay?
Do you agree with this report, and if so what disadvantages should one be be concerned about in using this wallet?
P.S. I have up-voted and am now following you.
Thanks for the upvote, followed back :)
Most wallets allow you to set a fee level that suits, but setting too low can cause your transaction not to be confirmed.
I personally like full control over my coins and use a Ledger Nano S hardware wallet.
I don't like to keep coins for long on web-wallets or exchanges!
Thanks for your info., esp. your implication that I should make sure what is the normal fee (for what I am trying to do) before giving my own fee setting.
I too have control of my keys; but I am using paper wallets and duplications on files on USB drives that are kept offline, except for a few minutes at a time.
I worry about the chances of finding my hardware wallet inaccessible for some reason. Is that a baseless worry?
Most wallets use dynamic fees, and automatically adjust to how the market is.
You can visit https://bitcoinfees.earn.com/ to find out the current suggest fee for the network.
I recommend using this hardware wallet: https://www.ledgerwallet.com/r/895b?path=/products/ledger-nano-s
(I did a lot of research before picking the Nano S)
As for device failing, it has not happened yet, but you write down your 25 keywords in a safe place, and even if you loose the NanoS your wallets and coins are safe.
If someone tries to use your device and enters the pin in wrong 3 times, the device wipes itself.
As long as you have your keywords safely written down, you have nothing to worry about.
I feel much safer using the NanoS, and private keys are never exposed online, and you can even use safely on an infected computer (thats how safe it is).
Thanks a lot, @cryptosteemz. I'll follow your strategy for safe storage and include using the hardware wallet you recommend.
No problem, glad to help.
Make sure you write down the keywords when setting up (I made two copies) and keep them safe.
Rest is quite simple once you have used it a couple of times, but if need any help or have questions using it I would be happy to help.
Also I recommend only buy direct from the previous link I gave you (its an affiliate link so I will earn a couple of bucks when you buy with my link). But do not buy elsewhere or device could have be tampered with and resold.
Also avoid Trezor or Keepkey, as they have a few security flaws with the chip they use (wont go into it here, buy you can google it if needed).
Hello again! I clicked on your link to go and buy the wallet; but I need your comment on two points. First, is there something I need to enter to ensure that the affiliate benefits flow to you?
Second, do I have to get shipping from Europe? The check-out page shows 58 Eur. for the product and 24Eur to ship it via a service called "La Poste Colissimo". They must have a N. Amer. distributor with a more reasonable shipping charge, I am thinking. No?
We can resume this chat via our Discord accounts. My Discord address is @lestatisticien#7280. I think you can reach me via the DM route with that address.
Cheers!
P.S. I am holding up the purchase till I hear from you.
Thanks for holding on... Yes shipping is weird, I paid 16.34 Euros via UPS to the UK.
Then when brother ordered his, he was able to get 15 Euros via DHL.
Is the cheapest option for you 58 Euros?
Does seem expensive, especially for one nano device!
Yes just using that link should earn me a few Euros, thanks for using it. Think earned 3 Euros last time someone used my link.
Yes indeed @cryptosteemz, I will be ordering via your link. And thanks for the heads-up on what to avoid.
May I invite you to see my new post at https://steemit.com/bitcoin/@lestatisticien/impact-of-futures-trading-on-bitcoin-repository-of-best-posts-and-videos-to-17-dec-2017 ?
New posts disappear into "ether" so fast!
Nice post, upvoted for you :)