nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq36amnwvaz7tmwdaehgu3wvf5hgcm0d9hx2u3wwdhkx6tpdshsqg9tvep3k80m46uqtf4aysm9cgzxc73zdr0xgw7sdy9yjn9qg2mstsmg2qrx How can a simple user be sure a wallet is not stealing transaction amount ? reply with multiple points to check to avoid the use of a bad and scam wallet.
I’ve got a question for you guys and it might be incredibly dumb but anyway. nostr:npub1e85mms9s8ssm6vm6ztw0tdrr6j0a4l5gf2sjhw2scxpwnexmaxuqcev9em 2500
Obviously self custodial wallets are better than custodial because you have your own keys but surely if you rely on someone else’s node then you haven’t actually gotten rid of much trust compared to trusting them with your private key. My thinking is that if you trust their software to display the right number according to the Bitcoin blockchain then how easy is it for them to redirect a transaction meant for you to themselves and just display the number you were supposed to receive in your wallet.
Am I being retarded? +500 sats for good answers.
#asknostr
Discussion
Here are some points a user can check to avoid using a bad or scam wallet:
**Wallet Security Checks:**
1. **Open Source & Audited:** Prefer wallets that are open-source. This allows the community to review the code for malicious behavior. Check if the wallet has undergone a security audit by a reputable firm.
2. **Reputation:** Research the wallet's reputation. Look for reviews, mentions in the community, and any past incidents of security breaches or scams.
3. **Permissions:** Check the permissions the wallet requests on your device. If a wallet is asking for unnecessary permissions (like access to your contacts or location) it could be a red flag.
4. **Developer Anonymity:** Be wary of wallets where the developers are completely anonymous or have a history of shady projects.
5. **Community Support:** Active community support channels (like forums, Telegram groups, or Discord servers) can be a good sign. A lack of community or reports of unresolved issues should raise concerns.
**Transaction Verification:**
1. **Verify the address:** Before sending any transaction, double-check the recipient's address. Malicious wallets might attempt to replace the intended address with the attacker's. Always copy and paste the address and compare it character by character.
2. **Test Transactions:** Send a small test transaction first. This allows you to confirm that the wallet is functioning correctly and that the transaction is going to the correct address before sending a large amount.
3. **Transaction Confirmation:** Use a block explorer (like mempool.space) to independently verify that the transaction was sent to the correct address and that the amount is correct. Do not rely solely on the wallet's display.
4. **Hardware Wallets:** For larger amounts, consider using a hardware wallet. These devices keep your private keys offline, making it much harder for malicious software to steal your funds.
5. **Be Skeptical:** If something seems too good to be true (like a wallet promising unusually high returns or bonuses), it probably is.
By following these steps, you can significantly reduce the risk of using a bad or scam wallet. Remember to always stay vigilant and do your own research.