GreenAddress Wallet Review - Top 10 Best Bitcoin Wallets

CryptoSobStories - You could be a millionaire by now

You bought a Pizza for 10,000 BTC? You lost big in a collapsed exchange? You sold a shitcoin with loss to see how it exploded the next day? You missed 1000+1 occasions? You sold your retirement money for the biggest cryptoscam in history? You are not alone! Share your story and find relief from your fellow cryptosobbers! Found stories are also fine.
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Android Bitcoin Wallet login via Trezor (GreenAddress)

Android Bitcoin Wallet login via Trezor (GreenAddress) submitted by Sherlockcoin to Bitcoin [link] [comments]

Day 2: I will repost this guide daily until available solutions like Segwit & order batching are adopted, the mempool is empty once again, and transaction fees are low. You can help. Take action today

Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions Segwit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy Segwit for everyone ASAP. Let's make it happen.
Exchanges: Find out if your exchange has deployed Segwit already. If not, politely request that they do so within 30-days or they will lose your business. Sign-up for an account with a Segwit deployed/ready exchange now
Full list: https://bitcoincore.org/en/segwit_adoption/
Wallets: Make sure you have a Segwit capable wallet installed and ready to use for your next bitcoin transaction
Hardware Wallets:
Desktop Wallets
iOS Wallets:
Android Wallets
FAQs
If I'm a HODLer, will it help to send my BTC to a Segwit address now?
  • No, just get ready now so that your NEXT transaction will be to a Segwit wallet.
Can you please tell me how to move my bitcoins to segwit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its Segwit functionality. Download Electrum v3.0.3 to generate a Segwit address.
    via HowToToken.com:
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a Segwit Tx if the sending address is a Segwit address.
Is there a hardware wallet that does segwit addresses?
  • Yes, Trezor supports Segwit by default. Ledger Nano also has support.
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Segwit blog guides
Previous Day's Threads
Edit: added FAQ's to the list, corrections, BitWallet
submitted by Bastiat to Bitcoin [link] [comments]

Day 4: I will repost this guide daily until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. ARE YOU PART OF THE SOLUTION? News: Unconfirmed TX's @ 174K, more exchanges adding SegWit, Core prioritizes SegWit GUI

NOTE Just a daily repost because original OP Bastiat seems to be offline (due to holidays I guess). However, this is quite important as I see much misinformation on which exchanges use segwit or not. Please upvote for awareness.
BACKGROUND
Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make it happen. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin
IMPORTANT NOTE: The mempool is currently overflowing. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange
SELECTED TOP EXCHANGES BY SEGWIT & BATCHING STATUS
There are 2 different Segwit address formats.
  • p2sh - starting with a "3..."
  • bech32 - starting "bc1..."
Not many wallets/exchanges support bech32 yet and will claim the address is invalid if you try to send to it. bech32 ("native Segwit") is a mildly better solution compared to p2sh.
Exchange Batching Status Segwit (p2sh) Send to bech32
Binance Yes No No
Bitfinex Yes No No
Bitonic ? No No
Bitstamp Yes Yes No
Bittrex Yes ? ?
Coinbase/GDAX No No No
Gemini No No No
HitBTC Yes Yes ?
Huboi ? ? ?
Kraken No Yes ?
LocalBitcoins No ? ?
OKEx ? ? ?
Poloniex ? Yes ?
QuadrigaCX Yes Yes ?
Shapeshift Yes No No
Source 1
Source 2
WALLETS
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
TODAY's NEWS/DEVELOPMENTS/VICTORIES
MEMPOOL/SEGWIT STATISTICS
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
  • No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Transaction if the sending address is a SegWit address.
    Source
So what address can I send to safely, there is so much confusion?
  • As of right now...
Non-Segwit Transactions
non-Segwit address to…
non-Segwit address OK
3..... (Segwit) OK
bc1.... (Segwit) No (no support for them yet)
Segwit Transactions
3... address (Segwit) to…
non-Segwit address OK
3..... (Segwit) OK
bc1.... (Segwit) No (no support for them yet)
bc1... address (Segwit) to…
non-Segwit address OK
3..... (Segwit) OK
bc1.... (Segwit) OK
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
  • The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by psycongoroo to Bitcoin [link] [comments]

Day 3: I will repost this guide daily until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. ARE YOU PART OF THE SOLUTION? News: Unconfirmed TX's @ 274K, more exchanges adding SegWit, Core prioritizes SegWit GUI

BACKGROUND
Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make it happen. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin
IMPORTANT NOTE: The mempool is currently overflowing. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange
SELECTED TOP EXCHANGES BY SEGWIT & BATCHING STATUS
Exchange Segwit Status Batching Status
Binance ? NOT READY Yes
Bitfinex Ready ?
Bitonic Ready ?
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Ready Deployed Yes
Huboi ? ?
Kraken Ready Yes
LocalBitcoins Ready ?
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Source 1(https://web.archive.org/web/20171212214514/https://bitcoincore.org/en/SegWit_adoption/)
Source 2
WALLETS
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
TODAY's NEWS/DEVELOPMENTS/VICTORIES
MEMPOOL/SEGWIT STATISTICS
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
  • No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
    Source
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
  • The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
Edit: Updated Segwit Exchange Status for Binance and HitBTC
submitted by Bastiat to Bitcoin [link] [comments]

Day 5: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. User demand from this community can help lead to some big changes. Have you joined the /r/Bitcoin SegWit effort?

SUMMARY
Segregrated Witness (SegWit) was activated on the Bitcoin network August 24, 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work. If users demand SegWit now it will temporarily releive the transaction backlog while bigger solutions like Lightning are developed.
TODAY's NEWS/DEVELOPMENTS/VICTORIES
MEMPOOL/SEGWIT STATISTICS
BACKGROUND
Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make 80%+ SegWit happen fast. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Conact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
SELECTED TOP EXCHANGES BY SEGWIT & BATCHING STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready ?
Bitonic Ready ? Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Ready Yes
LocalBitcoins Ready ?
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Source 1
Source 2
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
  • No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
    Source
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
  • The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
Edit: Bitonic batching status updated to 'Yes'
submitted by Bastiat to Bitcoin [link] [comments]

Proof of Keys - A guide

On January 3rd 2019 we'll be taking back control!
This is a guide aimed at newcomers or for anyone who has never had their bitcoin under their own control and wishes to stop relying on exchanges or other people keeping their BTC safe.
While it is in some ways safer to leave the security of your precious BTC up to the huge and more reputable companies in the space, having responsibility over your own money is a key principle in Bitcoin - for very good reason.
Not your keys? Not your bitcoin!
You might also be in a position where someone in your family takes care of your bitcoin for you, off exchange but still out of your control. This is the perfect time to become literate about how to store your BTC yourself and take some pressure off that person. What would happen if they were to pass away? If they have left a guide for you explaining what to do in the event of their death, what happens if someone were to find that guide while they are still alive? Conversely what if there is no guide and the coins are just gone forever?
This guide won't go in to high level solutions like Glacier Protocol, which are so extreme as to (in my opinion) actually do a disservice to the overall goal of getting people to keep their funds under their own control by being so intimidatingly, insanely over the top that people become discouraged. You can break free of the custodial norms of money without going to these levels and still be sleeping comfortably at night.
Finally, we're not trying to bank the unbanked, we're trying to unbank everybody!
With that said, let's go over some of the standard ways you can own bitcoin without third party help.
Hardware Wallets
Firstly, I will suggest a hardware wallet such as trezor or ledger.
There is still time to get one in time for the event should that be your aim, but I'd also like to stress that you should take as long as necessary to know exactly what you are doing before moving any bitcoin.
Should you choose this option, while not the best it is far from the worst and it is the route that I will be recommending in this guide.
When it arrives, check that it hasn't been messed with. Trezor packages come glued together with a seal that must be in tact. There are risks in using hardware wallets, but remember that there is no such thing as perfect security. The wallet will come with a fairly comprehensive guide but there are a few things to say here.
You will be tasked with writing down 24 words as a seed. Here is where the most caution will be needed.
Write down these words on a piece of paper away from anything with an exposed camera such as a cell phone or laptop webcam, away from any prying eyes or windows and even, for the paranoid, without leaving a mark on the surface underneath the paper that you are writing on.
Do not take a photo of these words. And never, ever, ever write them down on anything electronic. Use. Paper.
These words will be used by the hardware wallet to generate the private keys that ultimately need to be used to to tell the bitcoin network where you want the coins at the addresses they correspond to to go. - Sorry mouthful but that's literally the essence of how all this works.
So if you don't have these words and you lose access to your device, or forget the PIN (see further down) then you can't spend your coins - they're gone, or rather, they are stuck at the same address. Forever. Lost bitcoins don't disappear, they just stay at whatever address they were at.
If you do have these words then you can spend the coins. i.e They are yours. However so can anyone else who finds these words (unless you have a secret extra word which I will go into in just a moment).
In bitcoin, knowledge is possession. This is the truest form of intellectual property that has ever existed.
Once you have written down your 24 words, laminate them. (I can't find the link sadly, but I'll never forget the story of a drunk guy on bitcointalk.org taking his paper wallet out of a safe and spilling his drink on them making them unreadable. Don't be that guy).
Laminated? Definitely not exposed to any cameras, people or windows? Good. Find somewhere safe to store them. Ideally an actual fire-proof safe. But first, put it in an evidence bag. This adds additional security (admittedly not much, but IMO it's worth doing).
PIN
Now, once you have followed the instructions on your hardware wallet you should reach the point where it wants a pin. This pin is specific to the device and only protects the device - it does not have anything to do with the bitcoin on the device. It merely protects the device itself, so in the event that it gets stolen, the thief (providing he only has the device, not your 24 words) will not be able to do anything with it. However, if the attacker finds the device and pin, they have your coins they do not need your 24 words. So bare this in mind.
Having the device and the pin means you can spend the bitcoins on this device - even without the 24 words.
Device and nothing else? Useless. Pin and nothing else? Useless. Pin and device even without the 24 words? Control over your bitcoin. Just the 24 words and nothing else? Control over your bitcoin.
....unless:
Secret extra words
You will be given the option to add a 25th word (or even 26th, 27th...you can add as many as you would like.) This is not the same as a pin. This will cause different private keys to be generated. This is becoming standard practice as a thief will look for 24 words, but it changes the scope of any attack they would pull insisting on trying extra words and checking each wallet that gets generated for any bitcoin.
So standard practice is to generate a 24 word wallet, store a small amount of bitcoin in there, and then add an extra word where you store the bulk of your bitcoin. Then your thief will hopefully be satisfied that you aren't hiding a larger stash, or decide to cut their losses. If your 24 words generate an empty wallet that will likely signal to any bitcoin savvy thief that you have extra words up your sleeve.
Rather than describe all this in detail (as each hardware wallet works differently), I will ask the reader to get familiar with their device, set up a few wallets, transfer tiny amounts of bitcoin each time as a test, firstly with just 24 words, then a secret extra word. Get comfortable doing this and make sure you understand what you are doing at every step before moving your actual stash.
If you break/lose your device
Simple, buy a new one and enter your 24 words. Added an extra word? No problem, enter your 25 (or however many) words. It's as simple as that. If lost and not broken, someone who finds it won't be able to do anything if they don't have the pin. Typing wrong pins in after 32 attempts or so, they'll be waiting until the end of the universe until the device lets them try another guess. (That's how trezor works at least - doubling the time required between wrong password attempts each time).
Phone wallets
For those with a smaller amount that don't want to splash out on a hardware wallet, or just want to do this right away, phones are actually pretty decent security wise (I'd use a phone over a laptop as it's easy for laptops to become infected with malware such as Windows 10).
Download a wallet such as GreenAddress and follow the exact same protocol as above. It is exactly the same, except a hardware wallet gains the security of having less functionality than a phone - fewer things can go wrong (but they are more likely to be targeted in transit so....again - no such thing as perfect).
Got an old phone that you don't use any more? It's the perfect use for it. Remember, if it dies on you, you'll still have those 24 words and that's enough to retrieve your coins. (One thing worth mentioning is that secret extra words are not usually possible on phone wallets. They aren't designed for the kind of security that hardware wallets offer).
Additional security
Cutting up your 24 words and placing them in different locations doesn't do a lot to increase security while it does however massively increasing the chances that you yourself will become unable to access your own coins. Don't go overboard and end up losing everything.
Don't make a 500 character pin on your device - as mentioned above a few wrong attempts locks out any thief pretty much until the end of time.
Keeping your 24 words somewhere other than your primary residence might be a good idea, but another country? That's probably taking it too far.
Don't mention bitcoin on facebook. If you were going on about this 5 years ago, everyone there now knows whatever wealth that you had back then is now a few orders of magnitude greater. And that will continue to happen. Don't become a target.
Alternatives
You can use an airgapped laptop - not recommended if you don't know what you're doing.
You can generate a paper wallet using bitaddress.org - no one does this anymore as far as I can tell, and I'm told by core devs that it is a horrible method, even if done offline using a dumb printer.
You can flip a coin 256 times - seriously not recommended unless you are just curious and want to really see under the hood.
That's pretty much it for this guide. I hope people will tear me to shreds in the comments, thus increasing the overall value of this post.
Happy bitcoining!
p.s one thing worth mentioning, "Proof of Keys" is a strange name if you ask me. In Bitcoin, you prove you own coins by signing a message. No one here needs to be doing that. All that January 3rd is about is you, without the aid of any third party, having the full and sole control over your coins.
p.p.s So much of this knowledge comes from Andreas Antonopolous. It has to be said. (when mastering LN btw?)
submitted by violencequalsbad to Bitcoin [link] [comments]

Day 7: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Do you want low tx fees, because this is how you get low tx fees

TL/DR
Bitcoin users can help lower transaction fees and improve bitcoin by switching to SegWit addresses and encourage wallets/exchanges to do the same.
SUMMARY
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work on integrating it. Others, such as Zebpay in India have already implemented SegWit and are reaping the benefits of reduced transaction fees. If bitcoin users demand SegWit now it will temporarily relieve the transaction backlog while more even more advanced solutions such as Lightning are developed.
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it.
There is an opportunity now for all bitcoin users to individually contribute to help strengthen and improve the bitcoin protocol. At this point, the process requires a bit of work/learning on the part of the user, but in doing so you'll actually be advancing bitcoin and leaving what could turn out to be a multi-generational legacy for humanity.
MEMPOOL/SEGWIT STATISTICS
BACKGROUND
On Dec 18 Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make 80%+ SegWit happen fast. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Conact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Ready Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
SegWitAddress.org Paper
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
  • No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
  • SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
  • Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
  • Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
    Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
  • The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
  • It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to existing wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
    Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
    Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
  • P2SH starts with "3..."
    bech32 starts with "bc1..."
Which addresses can I send from/to?
  • P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backwards compatibility
    bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
    Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
  • The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

Day 8: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. BTC Core SegWit GUI coming May 1, Coinbase incompetence exposed, more exchanges deploy SegWit

BACKGROUND
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, and the majority of users have not made the switch themselves.
On Dec 18 2017 Subhan Nadeem has pointed out that: If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
Mass SegWit use alone could empty the mempool, result in blocks that are not completely full, and make it possible to include transactions with $0 fee once again.
On Jan 11 2018 when BTC sends went offline at Coinbase the mempool began to rapidly empty. Later in the day when service was restored there was a sharp spike up in the mempool. Subsequently, that afternoon Brian Armstrong finally had to break his silence on the topic and admitted Coinbase is working on SegWit but has still not deployed it. It appears that the high fees bitcoin is experiencing could be easily addressed and need not exist.
SegWit is just one technique available to exchanges and users to reduce pressure on the Bitcoin network. You can make the switch to SegWit on your next transaction, and pressure exchanges to deploy SegWit NOW along with other actions that will reduce their transaction impact on the network. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. If your wallet is not committed to implementing SegWit fast, speak out online any way you can and turn up the pressure. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Contact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch. Use social media to point out the benefits of SegWit adoption.
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
BEYOND SEGWIT - BATCHING, PAYMENT CHANNELS, LIGHTNING
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it. Users should demand this or walk.
Beyond SegWit & Batching, Lightning Network integration will have even more effect. Lightning is now active and exchanges could setup payment channels between each other so that on-chain transactions need not take place. Some ideas have to outline how that might work are here: Google Doc - Lightning Exchanges. Which two bitcoin exchanges will be the first to establish a lightning channel between themselves and offer free/instant transfers between them for their customers? This will happen in 2018
MEMPOOL/SEGWIT STATISTICS
NEWS/DEVELOPMENTS/VICTORIES
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Deployed Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
SegWitAddress.org Paper
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unnecessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download the latest version of Electrum to generate a SegWit address.
A transaction between two SegWit addresses is a SegWit transaction.
A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
Using Electrum, the "Tools" menu option: "Pay to many".
Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
Draw your own conclusions based on their own words:
March 2016 - Coinbase CEO Brian Armstrong has reservations about Core
Dec 2017 - Coinbase is STILL working on Segwit
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to exist wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
P2SH starts with "3..."
bech32 starts with "bc1..."
Which addresses can I send from/to?
P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backward compatibility
bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

Day 9: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. Have you done your part?

BACKGROUND
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, and the majority of users have not made the switch themselves.
On Dec 18 2017 Subhan Nadeem has pointed out that: If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
Mass SegWit use alone could empty the mempool, result in blocks that are not completely full, and make it possible to include transactions with $0 fee once again.
On Jan 11 2018 when BTC sends went offline at Coinbase the mempool began to rapidly empty. Later in the day when service was restored there was a sharp spike up in the mempool. Subsequently, that afternoon Brian Armstrong finally had to break his silence on the topic and admitted Coinbase is working on SegWit but has still not deployed it. It appears that this is an important data point that indicates if just a few major exchanges would deploy SegWit the high fees bitcoin is experiencing would be eliminated.
SegWit is just one technique available to exchanges and users to reduce pressure on the Bitcoin network. You can make the switch to SegWit on your next transaction, and pressure exchanges to deploy SegWit NOW along with other actions that will reduce their transaction impact on the network. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. If your wallet is not committed to implementing SegWit fast, speak out online any way you can and turn up the pressure. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Contact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch. Use social media to point out the benefits of SegWit adoption.
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
BEYOND SEGWIT - BATCHING, PAYMENT CHANNELS, LIGHTNING
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it. Users should demand this or walk.
Beyond SegWit & Batching, Lightning Network integration will have even more effect. Lightning is now active and exchanges could setup payment channels between each other so that on-chain transactions need not take place. Some ideas have to outline how that might work are here: Google Doc - Lightning Exchanges. Which two bitcoin exchanges will be the first to establish a lightning channel between themselves and offer free/instant transfers between them for their customers? This will happen in 2018
MEMPOOL/SEGWIT STATISTICS
NEWS/DEVELOPMENTS/VICTORIES
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Deployed Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
SegWitAddress.org Paper
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unnecessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download the latest version of Electrum to generate a SegWit address.
A transaction between two SegWit addresses is a SegWit transaction.
A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
Using Electrum, the "Tools" menu option: "Pay to many".
Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
Draw your own conclusions based on their own words:
March 2016 - Coinbase CEO Brian Armstrong has reservations about Core
Dec 2017 - Coinbase is STILL working on Segwit
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to exist wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
P2SH starts with "3..."
bech32 starts with "bc1..."
Which addresses can I send from/to?
P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backward compatibility
bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

GreenBits - The all new snappy Android Bitcoin Wallet with multisig and hardware wallets support

GreenBits - The all new snappy Android Bitcoin Wallet with multisig and hardware wallets support submitted by HostFat to Bitcoin [link] [comments]

Day 6: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Refer a friend to SegWit today. There's no $10 referral offer, but you'll both get lower fees and help strengthen the BTC protocol

TL/DR
Bitcoin users can help lower transaction fees and contribute to bitcoin by switching to SegWit addresses and encourage wallets/exchanges to do the same.
SUMMARY
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work on integrating it. Others, such as Zebpay in India have already implemented SegWit and are reaping the benefits of reduced transaction fees. If bitcoin users demand SegWit now it will temporarily relieve the transaction backlog while more even more advanced solutions such as Lightning are developed.
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it.
There is an opportunity now for all bitcoin users to individually contribute to help strengthen and improve the bitcoin protocol. At this point, the process requires a bit of work/learning on the part of the user, but in doing so you'll actually be advancing bitcoin and leaving what could turn out to be a multi-generational legacy for humanity.
MEMPOOL/SEGWIT STATISTICS
BACKGROUND
On Dec 18 Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make 80%+ SegWit happen fast. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Conact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Ready Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
  • Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
  • No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
  • SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
  • Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
  • Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
    Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
  • The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
  • It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to existing wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
    Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
    Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
  • P2SH starts with "3..."
    bech32 starts with "bc1..."
Which addresses can I send from/to?
  • P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backwards compatibility
    bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
    Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
  • The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

We must push for SegWit adoption

Long time lurker, but feel that this is important.
SegWit adoption is stagnating to say the least, actually dropping since last month (http://segwit.party/charts/#). If we want Bitcoin to be useful, and newbies not to be put off, we must make a conscious effort to bring down the fees. It's just not good enough to say BTC is only a store of value - SegWit was developed amongst other reasons so that it would be adopted and improve scalability.
Similarly to how we used to raise awareness of Bitcoin with various merchants by encouraging them to accept it as form of payment, we must start pushing for SegWit adoption by calling out the biggest culprits that haven't adopted it yet - and praising the ones that do, such as ShapeShift.
Let's compile a list of wallets, exchanges, and mining pools that haven't implemented SegWit on their wallets as of yet, and pester them to give us an ETA on when this will be implemented. If we start making noise on this, things are likely to change quicker than sitting back and meme'ing each other to death with endless boring price, moon and lambo posts.
I will keep track of comments and edit this post with a list of companies - so far Coinbase is the biggest culprit, but I believe most of the NYA signatories are also lagging behind.
No SegWit as of yet -- let's get an ETA!
Wallets
SegWit-enabled providers -- cool dudes
Wallets
EDIT: the idea here is to make the companies involved aware of how important it is to get this rolling ASAP (some, like Coinbase, are all too happy prioritising BCH support instead) and to stop any sort of ambiguity in how long it'll take to get this implemented. We all stand to benefit with increased adoption, including them, so what we can do now to improve our ecosystem is to make our voices heard, whether here, on Twitter, or direct emails to their support, or even CEOs.
submitted by szollo to Bitcoin [link] [comments]

The latest Trezor commit is titled "prepare 1.3.0 release." Can't wait to use Trezor for multisig.

The latest Trezor commit is titled submitted by ItsMillerIndexTime to Bitcoin [link] [comments]

The 6 Best Bitcoin Wallets

We've reviewed the 6 best Bitcoin wallets for mobile, desktop and online storage. Best hardware wallet reviews are also added for your convenience.
#exodus #jaxx #edge #greenaddress #electrum #mycelium #trezor #ledger
https://wunderbit.co/en/blog/the-6-best-bitcoin-wallets-for-mobile-desktop-and-online-storage
submitted by wunderbit_co to Bitcoin [link] [comments]

GreenBits hardware wallets integration demo (Ledger NFC & Trezor)

GreenBits hardware wallets integration demo (Ledger NFC & Trezor) submitted by BitFast to Bitcoin [link] [comments]

GreenBits - Early preview - new simple yet powerful Android wallet with Trezor support

GreenBits - Early preview - new simple yet powerful Android wallet with Trezor support submitted by BitFast to Bitcoin [link] [comments]

multisig meets hardware wallet, first sign of life!

multisig meets hardware wallet, first sign of life! submitted by BitFast to Bitcoin [link] [comments]

/r/BitcoinUK FAQ

/BitcoinUK FAQ

ArcaneWharf and I have put this post together quickly so that we have a resource which we can point newcomers towards in order to answer their frequently answered questions. This should serve as more of an overview or quick-start guide which is a jumping off point for beginners, rather than a comprehensive or complete guide.
This is a work-in-progress (i.e., definitely not perfect) which, as a community, we could expand and improve upon over time. If you have something to contribute (either to this or something more detailed), do comment in this thread or contact the mods (by sending a message to /BitcoinUK).

How can I learn more about bitcoin?

There are already some links in /BitcoinUK’s sidebar which should help you get started. If that’s not enough, check out:
We'd encourage you to at least understand the basics before making your first bitcoin purchase. There are tons of fantastic resources out there, so there’s no excuse for ignorance.

How do I buy bitcoin?

The answer depends on your priorities, as there tends to be a trade-off between more convenient, quicker options (which are more expensive) and less convenient, slower options (which are cheaper).

Getting started

Purchasing with a credit or debit card on Coinbase is the best starting point for beginners, as it offers a great user experience. There's a quick guide here, but you probably won't need it as the sign-up and purchase process is quite intuitive. If you're having issues with verification on Coinbase (or it's just taking too long), then you might want to check out the options described in the ‘high fees, but faster’ section below.
For subsequent purchases, check out the options described in the next two sections. Although the ‘no fees, but slower’ purchase route is popular and well recommended on /BitcoinUK, you shouldn’t automatically rule out the options described in the ‘high fees, but faster’ section.

No fees, but slower

The Revolut to GDAX route is frequently recommended in the /BitcoinUK community, as it eliminates fees and allows you to purchase bitcoin at the best possible price. Keep in mind that this route won’t work on weekends, as SEPA transfers only get pushed through during normal working hours (i.e., Monday AM till Friday PM). If you’re looking to purchase on weekends, then you’ll have to use the options described in the following section.
You can finds details about this purchase route in this text guide and this video guide
Summary of this process:
  1. Sign up for Coinbase and Revolut.
  2. Transfer GBP into your Revolut GBP account.
  3. Activate your EUR wallet
  4. Convert GBP to EUR in Revolut (FREE)
  5. Send EUR to Coinbase (FREE)
  6. Transfer EUR from Coinbase to GDAX (FREE)
  7. Buy bitcoin on the BTC/EUR market.

High fees, but faster

If you’re willing to pay a premium (i.e., pay above market-rate), then you can buy bitcoin quickly and conveniently with GBP UK bank transfers and debit/credit card purchases. The premium charged by these options is usually under 5%, but can extend beyond that during times of high demand and (positive) price volatility. Unlike the Revolut to GDAX route, these options also allow you to complete purchases on weekends.
Popular, frequently recommended options which are quick and convenient include:
Prices offered across these services vary day-to-day. For an overview of your options (and their relative competitiveness), you should check out BittyBot.co. This provides a full list of merchants and marketplaces available, ordered by price (cheapest first). You can also filter the output by payment method by typing it into the 'Search' box.
Some users may prefer to take this faster route if they are convinced the price of bitcoin will increase during the time it would take for a transfer to process from Revolut to GDAX (using the method detailed in the previous section). This can pay off, but be cautious. The volatility of bitcoin makes it a double-edged sword and its price could just as easily go down (drastically) as it could go up.

What's the best way to sell bitcoin?

You can sell bitcoins back to the majority of sites which you buy them from. As before, there's a trade-off between the quicker and slower options.
If you're looking to get a price which is closest to the market rate (and pay as few fees as possible), then you'll want to sell through an exchange like GDAX, exchanging your bitcoin for euros. GDAX is preferable when you're selling, as the price you'll get per bitcoin is higher. Essentially, just reverse the process detailed earlier in the FAQ (see this text guide or this video guide). Alternatively, check out this quick 3-minute video which walks you through the process.
Summary of this process:
  1. On GDAX, click ‘Withdraw Funds’ while in the EUBTC market
  2. Transfer to your Coinbase Account (FREE)
  3. Go to Coinbase > Accounts > Euro Wallet > Withdraw
  4. On Revolut, go into your Euro wallet > Top Up > Bank Transfer > EUR
  5. Note down the IBAN and BIC from Revolut, and enter them into Coinbase. Also include the amount you wish to withdraw.
  6. Withdraw funds into Revolut (15p charge)
  7. Once funds are in your Revolut EUR account, exchange from EUR to GBP (FREE)
  8. Go to GBP wallet > send funds. Add yourself as a beneficiary.
  9. Send the funds! (free)
If you sell bitcoin on Localbitcoins, Solidi, etc., you can get it sorted same-day (usually in less than an hour) with a transfer directly to your UK bank account in GBP. For that convenience, you'll usually get offered an exchange rate which is below the market-rate (usually up to 5%, but sometimes more). You are able to set your own sell orders on Localbitcoins or BitBargain (so you’ll be able to sell above market rate). However, we would not advise doing this as a newcomer.
Of course, you could always just withdraw directly from an exchange to your UK bank account. Again, you'll lose a percentage of your funds (>1%) in the foreign exchange conversion (from EUR to GBP) which your bank processes. Depending on the exchange rate charged by your bank, you might be better off selling through services which allow you to cash out in GBP instead.

How should I store bitcoin?

To simplify quite a broad topic, you essentially have two options: hot or cold.

Hot Wallet

A hot wallet is any wallet that is connected to the internet. Typically this will be in the form of a desktop program or a mobile app. Hot wallets rank high in convenience, but are not suitable for large holdings. They are extremely vulnerable to malware and backdoors, with hackers having strong financial incentives to target desktop wallets. Nevertheless, they are perfectly reasonable for storing small amounts of cryptocurrency.
Some popular options:

Cold Wallet

A cold wallet is a wallet that does not connect to the internet, and therefore cannot be affected by malware. There are multiple forms of cold storage, but beginners should first consider a hardware wallet.
A hardware wallet is a small, USB device where you can keep your cryptocurrency. They are secure since all of the information is stored on the device, so you could plug it in to a computer riddled with malware, and the malware would have no way of interacting with your wallet. These generally aren’t considered as secure as cold-storage wallets, but are much better than a hot-wallet. Usage just requires plugging the hardware wallet into your computer.
One drawback of a hardware wallet is the cost (£70-100). Although not a mandatory purchase, it is strongly recommended that you purchase a hardware wallet if you've accumulated (or plan to accumulate) coins which are worth more than between £500 - £1000.
Popular, well-recommended options include the:
Both are reputable and will serve you well. At the time of writing this, the Ledger is slightly cheaper and offers support for more cryptocurrencies. Unless you need the greater cryptocurrency support, the choice between them doesn’t really matter.
For an overview of the Ledger Nano S (with security recommendations and a small FAQ) see this post. For a tutorial on setting it up, check out this video.

More information

For a more information on different wallets, check out:
When setting up a wallet, it’s advisable to not record your mnemonic seed (which allows you to restore the wallet) on a digital device. Instead, it’s recommended to record it (clearly) on paper or card.

Why can't I just leave my bitcoin in the exchange?

When you buy bitcoin on an exchange (such as GDAX), the bitcoin is in your account but still belongs to the company who runs the exchange. Until you withdraw to your own wallet (as described above), the bitcoin is not truly yours. The bitcoin does not belong to you unless you own the private key. This is very important. Do not leave large amounts of cryptocurrency in an exchange.
Even if you trust that the company won’t run off with your bitcoin, an exchange is much more prone to getting hacked. Think about it from the perspective of a hacker: would you rather target a million individual users who only own a small amount of bitcoin each? Or would you target one exchange that you know is holding unfathomably large amounts of bitcoin? Don’t believe me?
If you're purchasing through Coinbase, you can withdraw cryptocurrencies through GDAX (same company) to your own wallet for free. Check out this how-to post for details.

Should I buy at £x price?

No one can tell you this. No one really knows what bitcoin will do in the future. Please do your own due diligence and consider dollar cost averaging.

What about Revolut’s in-app cryptocurrency offer?

Revolut is a mobile banking app that has recently announced support for cryptocurrencies. Note this section only refers to their service that allows you to buy cryptocurrencies within their application - not the process detailed above.
While more mainstream adoption is good, Revolut’s in-app cryptocurrency exchange - in its current state - does not allow you to withdraw your cryptocurrency from their application. This has all the same issues as leaving in exchange, as you don’t have the cryptocurrency in your own wallet.
Revolut’s in-app cryptocurrency exchange should be rolled out to all customers, if their FAQ is still accurate, by the 21st or 22nd December. Early access is available if you have premium or invite 3 friends who subsequently sign up and use their app. See here for more details.

How do UK taxes work with bitcoin?

Please note: This is not professional tax advice. Conduct your own research to verify this information and/or contact a professional tax advisor.
If you sell bitcoins at a higher price than you bought them for, or exchange them for something else (e.g., another cryptocurrency, and goods or services), you would be liable to pay capital gains tax. However, you have a capital gains allowance of £11,300 per year. If you generate profits from the sale or exchange of bitcoins which fall below this threshold, then no tax would be due. Additionally, no tax is due until you sell or exchange it for something else. You may also be able to reduce your capital gains liability by gifting cryptocurrencies to your partner so that they can take advantage of their capital gains allowance too (more details in this thread).
It appears unclear how you would be taxed in the UK in other circumstances: such as mining, working for cryptocurrency, or proof of stake rewards. As these rules develop, it’s advised to document everything you do with cryptocurrencies. When the taxman comes knocking, you’ll be grateful that you did.
IndeedHowlandReed has kindly putting together a more detailed guide about Bitcoin and UK tax. You can find part 1 here and part 2 here. If you have any questions not answered by their guide, post them in this thread (or upvote existing questions).
Useful Links:

Have a question that’s not here? Search /BitcoinUK first.

If you don’t find the answer to your question here, please search this subreddit before submitting a new post.

Have a contribution or suggestion?

As noted at the start, this is a WIP (i.e., it's definitely not perfect) which, as a community, we could expand and improve upon over time. If you have something to contribute (or even just a suggestion), do comment in this thread or contact the mods.
submitted by Bedroni to BitcoinUK [link] [comments]

What is a Cryptocurrency Wallet?

What is a Cryptocurrency Wallet?
Use this straightforward guide to learn what a cryptocurrency wallet is, how they work and discover which ones are the best on the market.
A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet.
How do they work?
Millions of people use cryptocurrency wallets, but there is considerable misunderstanding about how they work. Unlike traditional ‘pocket’ wallets, digital wallets don’t store currency. In fact, currencies don’t get stored in any single location or exist anywhere in any physical form. All that exists are records of transactions stored on the blockchain.
Cryptocurrency wallets are software programs that store your public and private keys and interface with various blockchain so users can monitor their balance, send money and conduct other operations. When a person sends you bitcoins or any other type of digital currency, they are essentially signing off ownership of the coins to your wallet’s address. To be able to spend those coins and unlock the funds, the private key stored in your wallet must match the public address the currency is assigned to. If public and private keys match, the balance in your digital wallet will increase, and the senders will decrease accordingly. There is no actual exchange of real coins. The transaction is signified merely by a transaction record on the blockchain and a change in balance in your cryptocurrency wallet.
What are the different types of Cryptocurrencywallets?
There are several types of wallets that provide different ways to store and access your digital currency. Wallets can be broken down into three distinct categories – software, hardware, and paper. Software wallets can be a desktop, mobile or online.
Are Cryptocurrency wallets secure?
Wallets are secure to varying degrees. The level of security depends on the type of wallet you use (desktop, mobile, online, paper, hardware) and the service provider. A web server is an intrinsically riskier environment to keep your currency compared to offline. Online wallets can expose users to possible vulnerabilities in the wallet platform which can be exploited by hackers to steal your funds. Offline wallets, on the other hand, cannot be hacked because they simply aren’t connected to an online network and don’t rely on a third party for security.
Although online wallets have proven the most vulnerable and prone to hacking attacks, diligent security precautions need to be implemented and followed when using any wallet. Remember that no matter which wallet you use, losing your private keys will lead you to lose your money. Similarly, if your wallet gets hacked, or you send money to a scammer, there is no way to reclaim lost currency or reverse the transaction. You must take precautions and be very careful!
Although Bitcoin is by far the most well-known and popular digital currency, hundreds of newcryptocurrencies (referred to as altcoins) have emerged, each with distinctive ecosystems and infrastructure. If you’re interested in using a variety of cryptocurrencies, the good news is, you don’t need set up a separate wallet for each currency. Instead of using a cryptocurrency wallet that supports a single currency, it may be more convenient to set up a multi-currency wallet which enables you to use several currencies from the same wallet.
Are there any transaction fees?
There is no straightforward answer here.
In general, transaction fees are a tiny fraction of traditional bank fees. Sometimes fees need to be paid for certain types of transactions to network miners as a processing fee, while some transactions don’t have any fee at all. It’s also possible to set your own fee. As a guide, the median transaction size of 226 bytes would result in a fee of 18,080 satoshis or $0.12. In some cases, if you choose to set a low fee, your transaction may get low priority, and you might have to wait hours or even days for the transaction to get confirmed. If you need your transaction completed and confirmed promptly, then you might need to increase the amount you’re willing to pay. Whatever wallet you end up using, transaction fees are not something you should worry about. You will either pay minuscule transaction fees, choose your own fees or pay no fees at all. A definite improvement from the past!
Are cryptocurrency wallets anonymous?
Kind of, but not really. Wallets are pseudonymous. While wallets aren’t tied to the actual identity of a user, all transactions are stored publicly and permanently on the blockchain. Your name or personal street address won’t be there, but data like your wallet address could be traced to your identity in a number of ways. While there are efforts underway to make anonymity and privacy easier to achieve, there are obvious downsides to full anonymity. Check out the DarkWallet project that is looking to beef up privacy and anonymity through stealth addresses and coin mixing.
Which Cryptocurrency wallet is the best?
There is an ever-growing list of options. Before picking a wallet, you should, however, consider how you intend to use it.
Bread Wallet
Bread Wallet is a simple mobile Bitcoin digital wallet that makes sending bitcoins as easy as sending an email. The wallet can be downloaded from the App Store or Google Play. Bread Wallet offers a standalone client, so there is no server to use when sending or receiving bitcoins. That means users can access their money and are in full control of their funds at all times. Overall, Bread Wallet’s clean interface, lightweight design and commitment to continually improve security, make the application safe, fast and a pleasure to use for both beginners and experienced users alike.
Mycelium
Advanced users searching for a Bitcoin mobile digital wallet, should look no further than mycelium. The Mycelium mobile wallet allows iPhone and Android users to send and receive bitcoins and keep complete control over bitcoins. No third party can freeze or lose your funds! With enterprise-level security superior to most other apps and features like cold storage and encrypted PDF backups, an integrated QR-code scanner, a local trading marketplace and secure chat amongst others, you can understand why Mycelium has long been regarded as one of the best wallets on the market.
Exodus
Exodus is a relatively new and unknown digital wallet that is currently only available on the desktop. It enables the storage and trading of Bitcoin, Ether, Litecoins, Dogecoins and Dash through an incredibly easy to use, intuitive and beautiful interface. Exodus also offers a very simple guide to backup your wallet. One of the great things about Exodus is that it has a built-in shapeshift exchange that allows users to trade altcoins for bitcoins and vice versa without leaving the wallet.
Copay
Created by Bitpay, Copay is one of the best digital wallets on the market. If you’re looking for convenience, Copay is easily accessed through a user-friendly interface on desktop, mobile or online. One of the best things about Copay is that it’s a multi-signature wallet so friends or business partners can share funds. Overall, Copay has something for everyone. It’s simple enough for entry-level users but has plenty of additional geeky features that will impress more experienced players as well.
Jaxx
Jaxx is a multi-currency Ether, Ether Classic, Dash, DAO, Litecoin, REP, Zcash, Rootstock, Bitcoin wallet and user interface. Jaxx has been designed to deliver a smooth Bitcoin and Ethereum experience. It is available on a variety of platforms and devices (Windows, Linux, Chrome, Firefox, OSX, Android mobile & tablet, iOS mobile & tablet) and connects with websites through Firefox and Chrome extensions. Jaxx allows in wallet conversion between Bitcoin, Ether and DAO tokens via Shapeshift and the import of Ethereum paper wallets. With an array of features and the continual integration of new currencies, Jaxx is an excellent choice for those who require a multi-currency wallet.
Armory
Armory is an open source Bitcoin desktop wallet perfect for experienced users that place emphasis on security. Some of Armory’s features include cold storage, multi-signature transactions, one-time printable backups, multiple wallets interface, GPU-resistant wallet encryption, key importing, key sweeping and more. Although Armory takes a little while to understand and use to it’s full potential, it’s a great option for more tech-savvy bitcoiners looking to keep their funds safe and secure.
Trezor is a hardware Bitcoin wallet that is ideal for storing large amounts of bitcoins. Trezor cannot be infected by malware and never exposes your private keys which make it as safe as holding traditional paper money. Trezor is open source and transparent, with all technical decisions benefiting from wider community consultation. It’s easy to use, has an intuitive interface and is Windows, OS X and Linux friendly. One of the few downsides of the Trezor wallet is that it must be with you to send bitcoins. This, therefore, makes Trezor best for inactive savers, investors or people who want to keep large amounts of Bitcoin highly secure.
Ledger Nano
The Ledger Wallet Nano is a new hierarchical deterministic multisig hardware wallet for bitcoin users that aims to eliminate a number of attack vectors through the use of a second security layer. This tech-heavy description does not mean much to the average consumer, though, which is why I am going to explain it in plain language, describing what makes the Ledger Wallet Nano tick. In terms of hardware, the Ledger Wallet Nano is a compact USB device based on a smart card. It is roughly the size of a small flash drive, measuring 39 x 13 x 4mm (1.53 x 0.51 x 0.16in) and weighing in at just 5.9g.
Pros:
Cons:
Green Address
Green Address is a user-friendly Bitcoin wallet that’s an excellent choice for beginners. Green Address is accessible via desktop, online or mobile with apps available for Chrome, iOS, and Android. Features include multi-signature addresses & two-factor authentications for enhanced security, paper wallet backup, and instant transaction confirmation. A downside is that Green Address is required to approve all payments, so you do not have full control over your spending
Blockchain (dot) info
Blockchain is one of the most popular Bitcoin wallets. Accessing this wallet can be done from any browser or smartphone. Blockchain.info provides two different additional layers. For the browser version, users can enable two-factor authentication, while mobile users can activate a pin code requirement every time the wallet application is opened. Although your wallet will be stored online and all transactions will need to go through the company’s servers, Blockchain.info does not have access to your private keys. Overall, this is a well-established company that is trusted throughout the Bitcoin community and makes for a solid wallet to keep your currency.
submitted by Tokenberry to NewbieZone [link] [comments]

SegWit Transaction Percentage Hits 6%

Update, we hit another milestone today. Segwit hits 6% - Source: http://segwit.party/charts/
SegWit is the process by which the block size limit on the blockchain is increased by removing signature data from Bitcoin transactions. This frees up space or capacity to add more transactions to the chain.
It solves a blockchain size limitation problem that reduces Bitcoin transaction speed by allowing more transactions to fit in each block. The overall effect would be changing the average block size to about 1.8 MB instead of 1, after everyone upgrades to SegWit.
Bitcoin price is approaching the all time high. Mem Pool is empty & number of unconfirmed transactions are at an all time low, since I started checking at the start of this year. They used to be over 150,000, but currently they are sitting at under 10,000. Source: https://blockchain.info/unconfirmed-transactions.
When doing a SegWit transaction, you can send Bitcoin for 5 cents = $0.05. If you want to take advantage of SegWit, use a free wallet like GreenAddress: https://greenaddress.it/en/ OR a Hardware wallet like Trezor or Ledger. Hardware wallets are safer than desktop wallets.
If this is how well Bitcoin performs with JUST SegWit, imagine how well Bitcoin will perform when the block size doubles in November with the Segwit2X Hard Fork, which would effectively increase block size to 3.6MB! Why would anyone use an Alt coin then?
If you want to get 1 Free Bitcoin (Bitcoin Gold) at the end of October, & another free Bitcoin in November (Bitcoin Legacy), for each Bitcoin you own, make sure you hold your Bitcoins (BTC) in a hardware wallet like Trezor or Ledger.
submitted by BTCBCCBCH to btc [link] [comments]

PSA: Contrary to popular belief, Electrum *DOES* support P2SH-P2WPKH SegWit addresses. Yeah, the kind that starts with "3" and is compatible with old wallets! Guide for usage inside.

Background

In this sub, on the #bitcoin IRC channel, and almost everywhere where Bitcoin is discussed, I hear people say that Electrum only supports bech32 SegWit addresses, which start with bc1. You cannot send to these addresses from older wallets and many Bitcoin-related websites, as they are a new format. The other common type of SegWit address, P2SH-wrapped-P2WPKH, starts with a 3. This type is backwards-compatible with older wallets, because it uses P2SH, which has been around since 2012, plenty of time for wallets to integrate support. You can use it virtually anywhere. This is what the Ledger, Trezor, and GreenAddress wallets use. This is how SegWit should be done currently, until support for it is universal.
The Electrum developers justify using bech32 by default because transactions from bech32 addresses are slightly smaller (more scaling!) and have additional error-checks to protect against mistyping an address.
TL;DR: You can use SegWit backwards-compatibly with Electrum now!

Guide

When creating a new wallet...
  1. Select "Standard wallet" type
  2. Select "I already have a seed"
  3. Click the "Options" button, and check the "BIP39 Seed" box
  4. Now you need to generate a new seed. There are many sites that you can do this on; a well-trusted one is https://iancoleman.io/bip39
  5. Change the derivation path to m/49'/0'/0' on the next page. This tells Electrum to use BIP49 (P2SH-P2WPKH) instead of the default BIP44 (P2PKH).
  6. Enjoy SegWit!
Video Demonstration
http://sendvid.com/9t4a11ly

How did I find it?

I stumbled upon this GitHub issue, opened by one of the contributors: https://github.com/spesmilo/electrum/issues/3462. It describes using a BIP 49 derivation path for P2SH-P2WPKH. I gave it a spin on testnet, and it works!
submitted by markasoftware to Bitcoin [link] [comments]

[PSA] Don't store funds in Exchanges! Use Multisig wallets.

Exchanges have a massive target painted in their head due to the concentration of funds.
Use only wallets that respect your privacy and are multi-signature.
Old thread http://www.reddit.com/Bitcoin/comments/2onutl/use_multisignature_and_stop_having_your_bitcoins/
Any of these support it with some good level of privacy:
Also consider hardware wallets (Trezor, HW1 and Ledger)
submitted by frankld to Bitcoin [link] [comments]

GreenBits integration with hardware wallets (Trezor, Ledger Nano and Proton) Green Address Bitcoin Wallet - Segwit, RBF, 2FA, Multisig and More Trezor Bitcoin - YouTube Créer portefeuille Bitcoin GreenAddress GreenAddress - YouTube

To initialize your Trezor with the GreenAddress wallet, you have to do this with the Chrome application. Once you have installed the application start it up and plug in your Trezor. In the screenshot we can see "Log in via hardware wallet", but this will only work if you are already initialized and registered with GreenAddress services.… GreenAddress was solely created for bitcoin’s safekeeping. That’s why you can only store bitcoins in GreenAddress. The safekeeping of Bitcoin Cash is also not offered. Even now, the idea of ... Bitcoin is the currency of the future. We don't make you choose between security and convenience. And we don't compromise your privacy.. Our per-transaction two factor authentication, multi-signature and deterministic wallet allow you unprecedented control over your transactions.. And, we never store your private keys, not even encrypted. At the same time we make it trivial to view and ... This review was written in order to provide you a choice among types of cryptocurrency services and particularly online wallets. The following information, perhaps, will change the opinion that online platforms are not such valuable as hardware wallets.So here is the an excellent basic guide on GreenAddress Bitcoin Wallet. GreenAddress is one of the initial bitcoin wallets which emerged with ample amount of exceptional features. The most important features like Hierarchically Deterministic, multisignature, 2factor authentication and hardware wallet support were supported by this hot wallet. Apart from these, there are several other features available in this wallet which are also quite flexible. GreenAddress is ...

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GreenBits integration with hardware wallets (Trezor, Ledger Nano and Proton)

An android bitcoin wallet by GreenAddress that does a login to a wallet account with a hardware wallet device called Trezor The app is actually available in early Beta for both Testnet and Mainet ... Trezor Bitcoin ️ http://tinyurl.com/y5kdgh8q?subid5=hardware-wallets%26subid6=trezor-wallet TREZOR is actually a Bitcoin hardware wallet and launched in... GreenBits integration with hardware wallets: - Satoshilabs Trezor - Ledger wallet Nano - Ledger wallet Proton NFC The GreenBits app by GreenAddress also works with HW.1, the entry level hardware ... An android bitcoin wallet by GreenAddress that does a login to a wallet account with a hardware wallet device called Trezor The app is actually available in early Beta for both Testnet and Mainet ... GreenAddress.com Commercial Ep. 01 "A safer wallet for Your Bitcoins!"

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