To be fair there are a lot of enthusiastic people who has another income and sometimes do things freely.
But also at the same time, some services makes free apps for developing of their own business and making it avaipable for more customers.
But also your question is logical, let's forget wallets, why are web browsers free? For example opera, mozilla and etc. There are a lot of reasons and you can find answers in google, not 100% sure but logical ones.
Key is your data
Topic: A simple question about wallets. - page 2. (Read 546 times)
Coinbase keeps a percentage. Their wallet is a straight business deal and (In my opinion) a good one for all parties.
I wouldn't call it a 'wallet'.
A wallet describes a piece of software (or hardware) which does manage private-/public- keys for the user and allows to sign transactions/messages.
Coinbase is an exchange. They do offer a 'service' where you can send your BTC to them, which you then can withdraw later.
However, you are not in possession of the private keys, and therefore also not in possession of your BTC funds. They only give you a number in their database which will allow you to withdraw that amount of BTC.
Once coinbase decides your balance is zero, your balance is zero. From that moment on you won't have access to any BTC which have been under your control prior to sending them to coinbase.
It is a company. You are trusting that company to store your money. I'd rather choose a bank, than an online company to store my money..
In my opinion, this is not a wallet. It is a service. But not a wallet.
Agree 100%
Coinbase is a company, as many others on the market. Use a true private wallet. Trezor for example.
Coinbase keeps a percentage. Their wallet is a straight business deal and (In my opinion) a good one for all parties.
I wouldn't call it a 'wallet'.
A wallet describes a piece of software (or hardware) which does manage private-/public- keys for the user and allows to sign transactions/messages.
Coinbase is an exchange. They do offer a 'service' where you can send your BTC to them, which you then can withdraw later.
However, you are not in possession of the private keys, and therefore also not in possession of your BTC funds. They only give you a number in their database which will allow you to withdraw that amount of BTC.
Once coinbase decides your balance is zero, your balance is zero. From that moment on you won't have access to any BTC which have been under your control prior to sending them to coinbase.
It is a company. You are trusting that company to store your money. I'd rather choose a bank, than an online company to store my money..
In my opinion, this is not a wallet. It is a service. But not a wallet.
A lot of the more popular wallets (such as Electrum) are open source and developed by people who truly wanted to see Crypto succeed and wanted to improve accessibility and usability. They discovered crypto early, and found a way to build/improve on it. Developers of wallets like these generally have good intentions and just want to better Crypto as a whole.
When a coin dev releases a wallet for their own coin, they want the coin to succeed as they probably hold a significant stake in that said coin.
Other wallets aim to generate revenue for themselves through affiliate links, ads, etc. An example of this is coinami or blockchain.info. They have a built in "currency exchange" feature where you can trade altcoins using shapeshift and/or changelly, and they make a % of the exchange fee.
And finally, yes there are many wallets out their that are scams and/or contain malware aiming to steal your coins. A very recent example of this is ElectrumPro, which was basically a ripoff of Electrum but packaged with malware. This is why its important to use a wallet that is open source and secure.
Good analysis! I think that you emphasize in general lines with what intention were created the Wallets that we know today.When a coin dev releases a wallet for their own coin, they want the coin to succeed as they probably hold a significant stake in that said coin.
Other wallets aim to generate revenue for themselves through affiliate links, ads, etc. An example of this is coinami or blockchain.info. They have a built in "currency exchange" feature where you can trade altcoins using shapeshift and/or changelly, and they make a % of the exchange fee.
And finally, yes there are many wallets out their that are scams and/or contain malware aiming to steal your coins. A very recent example of this is ElectrumPro, which was basically a ripoff of Electrum but packaged with malware. This is why its important to use a wallet that is open source and secure.
My attention was drawn to the fact that you pointed out the blockchain.info wallet. Recently, I created a Wallet on the platform and I hope to make good use of it. As a new user I agreed to carry out a survey and I answered it without any concern because I understand due to the series of questions that it was about getting to know the client, improving the product and knowing the client's satisfaction.
Today we are talking about the protection of user data in all scenarios, the topic is trending and there are even several projects that have been working according to the data of the users, taking advantage of the blockchain technology, the innovation, the advancement of technology, as well as solving some problems of today's world and a lot of things.
When we participate in the internet in a public way, anybody can access our data and measure us, create statistics, etc. is my knowledge when we do it public I do not have any knowledge of our private data.
1. Yes, apps embed shapeshifter / changelly. This has serious problems, but it is a way to provide a service and keep a small fraction, thus making a profit.
2. This thread is not about "outright scam wallets." Rather it is about the typical wallets that people download and use.
How is it a problem? I would say it's a decent method to monetize their wallet without compromising privacy/security.
.....coinami or blockchain.info. They have a built in "currency exchange" feature where you can trade altcoins using shapeshift and/or changelly, and they make a % of the exchange fee.
And finally, yes there are many wallets out their that are scams and/or contain malware ....This is why its important to use a wallet that is open source and secure.
And finally, yes there are many wallets out their that are scams and/or contain malware ....This is why its important to use a wallet that is open source and secure.
1. Yes, apps embed shapeshifter / changelly. This has serious problems, but it is a way to provide a service and keep a small fraction, thus making a profit.
2. This thread is not about "outright scam wallets." Rather it is about the typical wallets that people download and use.
Much of crypto currency was done by dedicated visionaries, often without a goal of personal gain.
This is true of bitcoin. To the benefit of the world.
But what's with all the wallets? There are hundreds of wallets of various sorts, and with the exception of hardware wallets that are bought, they are all free.
What do the developers get? Why are wallets free?
Consider normal, "typical" android and IOS development. People download "free" apps. Then the developers and marketers steal your data and sell it. It's all about your data. And we all know that.
But what model of development are wallet developers following? That of dedicated shareware developers with no profit in mind? That of the current generation of "steal your private data and give you the app for free?"
What am I missing.
This is true of bitcoin. To the benefit of the world.
But what's with all the wallets? There are hundreds of wallets of various sorts, and with the exception of hardware wallets that are bought, they are all free.
What do the developers get? Why are wallets free?
Consider normal, "typical" android and IOS development. People download "free" apps. Then the developers and marketers steal your data and sell it. It's all about your data. And we all know that.
But what model of development are wallet developers following? That of dedicated shareware developers with no profit in mind? That of the current generation of "steal your private data and give you the app for free?"
What am I missing.
Most of the things these days are not free, the price is your privacy.
Your private data, your eyes catching the ads... even this forum, is not that free. Most of us are "working" here, wearing signatures, making posts to expose the ads...
These wallets works the same way.
Let's look at some common wallets, and how they make money:
Blockchain.info - ads
Coinbase - exchange/ads
coinomi android wallet - ads
I made some posts already about this.
How much does an Airdrop cost?
Let's talk about privacy
People really do not care about their privacy. I thought that in the crypto community people would be paranoid about privacy. But most of the users here don't even know what is an adblock....
Ah, one correction.
Coinbase keeps a percentage. Their wallet is a straight business deal and (In my opinion) a good one for all parties.
Much of crypto currency was done by dedicated visionaries, often without a goal of personal gain.
This is true of bitcoin. To the benefit of the world.
But what's with all the wallets? There are hundreds of wallets of various sorts, and with the exception of hardware wallets that are bought, they are all free.
What do the developers get? Why are wallets free?
Consider normal, "typical" android and IOS development. People download "free" apps. Then the developers and marketers steal your data and sell it. It's all about your data. And we all know that.
But what model of development are wallet developers following? That of dedicated shareware developers with no profit in mind? That of the current generation of "steal your private data and give you the app for free?"
What am I missing.
This is true of bitcoin. To the benefit of the world.
But what's with all the wallets? There are hundreds of wallets of various sorts, and with the exception of hardware wallets that are bought, they are all free.
What do the developers get? Why are wallets free?
Consider normal, "typical" android and IOS development. People download "free" apps. Then the developers and marketers steal your data and sell it. It's all about your data. And we all know that.
But what model of development are wallet developers following? That of dedicated shareware developers with no profit in mind? That of the current generation of "steal your private data and give you the app for free?"
What am I missing.
Most of the things these days are not free, the price is your privacy.
Your private data, your eyes catching the ads... even this forum, is not that free. Most of us are "working" here, wearing signatures, making posts to expose the ads...
These wallets works the same way.
Let's look at some common wallets, and how they make money:
Blockchain.info - ads
Coinbase - exchange/ads
coinomi android wallet - ads
I made some posts already about this.
How much does an Airdrop cost?
Let's talk about privacy
People really do not care about their privacy. I thought that in the crypto community people would be paranoid about privacy. But most of the users here don't even know what is an adblock....
A lot of the more popular wallets (such as Electrum) are open source and developed by people who truly wanted to see Crypto succeed and wanted to improve accessibility and usability. They discovered crypto early, and found a way to build/improve on it. Developers of wallets like these generally have good intentions and just want to better Crypto as a whole.
When a coin dev releases a wallet for their own coin, they want the coin to succeed as they probably hold a significant stake in that said coin.
Other wallets aim to generate revenue for themselves through affiliate links, ads, etc. An example of this is coinami or blockchain.info. They have a built in "currency exchange" feature where you can trade altcoins using shapeshift and/or changelly, and they make a % of the exchange fee.
And finally, yes there are many wallets out their that are scams and/or contain malware aiming to steal your coins. A very recent example of this is ElectrumPro, which was basically a ripoff of Electrum but packaged with malware. This is why its important to use a wallet that is open source and secure.
When a coin dev releases a wallet for their own coin, they want the coin to succeed as they probably hold a significant stake in that said coin.
Other wallets aim to generate revenue for themselves through affiliate links, ads, etc. An example of this is coinami or blockchain.info. They have a built in "currency exchange" feature where you can trade altcoins using shapeshift and/or changelly, and they make a % of the exchange fee.
And finally, yes there are many wallets out their that are scams and/or contain malware aiming to steal your coins. A very recent example of this is ElectrumPro, which was basically a ripoff of Electrum but packaged with malware. This is why its important to use a wallet that is open source and secure.
Much of crypto currency was done by dedicated visionaries, often without a goal of personal gain.
This is true of bitcoin. To the benefit of the world.
But what's with all the wallets? There are hundreds of wallets of various sorts, and with the exception of hardware wallets that are bought, they are all free.
What do the developers get? Why are wallets free?
Consider normal, "typical" android and IOS development. People download "free" apps. Then the developers and marketers steal your data and sell it. It's all about your data. And we all know that.
But what model of development are wallet developers following? That of dedicated shareware developers with no profit in mind? That of the current generation of "steal your private data and give you the app for free?"
What am I missing.
This is true of bitcoin. To the benefit of the world.
But what's with all the wallets? There are hundreds of wallets of various sorts, and with the exception of hardware wallets that are bought, they are all free.
What do the developers get? Why are wallets free?
Consider normal, "typical" android and IOS development. People download "free" apps. Then the developers and marketers steal your data and sell it. It's all about your data. And we all know that.
But what model of development are wallet developers following? That of dedicated shareware developers with no profit in mind? That of the current generation of "steal your private data and give you the app for free?"
What am I missing.
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