Newbies question

why fresh internet plan or fresh IP ?, the thing is i'm too young for ID verification, i'm wondering if desktop wallet thing is working right away without ID verification, i'm using this Temporarily, probs going for small like <50$ transaction (not a bitg loss if it stolen), and i'm not going to store anything in there in a long run. (if i want to store it in a long run probs going to buy Trezor or Ledger Nano.)

Oh lmao, I forgot to answer that question. No you do not need ID verification to own a wallet. You only need ID verification if you want to buy BTC with irl money and on some exchanges if you want to exchange your BTC for another crypto or if you want to exchange your BTC for irl money.

I say don’t use desktop wallets because they can get comprised if your computer is compromised. If our have a new pc and new internet then you are safe-ish because no one knows you own that ip and have bitcoins. Plus you don't have any shady things downloaded. Don’t buy a hardware wallet if you don’t own at least 1 BTC. Just a waste of money if you are only going to sotre a couple hundred bucks. Just write down your seed on a paper and you have the safest wallet (given that paper doesn’t get damaged or stolen)

Alright, Thank you very much.

Use a desktop wallet with password

Electrum is well trusted wallet out there and should serve you well. As Allura stated up there it might not be good idea to use your day-to-day PC as some malwares could potentially be on your computer. However if you encrypt your wallet with long password it should be pretty safe. If you are conceared about this what I'll advise you is to grab USB and LINUX, install linux with perssistance so when you instlal a program in it it will be saved. Eveytime you need to use an electrum simply run your linux from USB and this should be pretty safe. No need for hardware wallets.

Bitcoin works as it randomly generates PRIVATE KEY (which you can look at as your password) and AN ADDRESS(which is lets say email address if we use that analogy). You CAN NOT change your private key which is why you must keep it as secret and as private as possible. Electrum is HD wallet which means that it generates multiple private/addresses from some random words that it will give you at the begining when you install and run it. Keep this words a secret as with them you will be able to prove an ownership of your funds.

There are 3types of addreses:

• One that begins with 1... - STANDARD/LEGACY
• Other with 3... or bc1.... - SEGWIT

Thing with this SEGWIT address is that there you can avoid high paying fees when network has many transactions because it uses some different thing of let's say packing the transactions all together. Problem with bc1.. addresses is that not many services supports it as of today and thus not many people do as well. As electron only gives you option to create SEGWIT with bc1... then for better usability simply go for standard option while creating the wallet.

Nobody controls bitcoin which is why ID is not needed. Wallets are simply software that can communicate with bitcoin protocol. Using wallets such as electrum are often called light wallets as they don't download all transactions (full blockchain) but they use some nodes to communicate with them.


Some online wallets don't require ID verification, mostly exchanges do because they are required cuz of KYC laws. Please try to avoid online wallets as they keep everything on their servers which is why they can lure hackers to try to hack them. Some wallets well let you to have backup of your wallet such as blockchain.info but some will not. If we are talking about exchanges wallets they can restrict your usage for some reason etc. thus acting like a bank and ultimately you trust third party.


Ask if you need something more, I tried to sum it up nicely.

I prefer light wallets, personally don't have any hardware and my funds were okay so far.