[blockchain.com] Is it really secure ?

Lucius

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Quote from: bL4nkcode on December 08, 2019, 07:52:24 PM

Can't say that its very secure as it was hacked few times.

I assume that you mean that blockchain.com (info) was hacked before, but as far I know that never happened. What has been hacked are individual user accounts, and in most cases the main cause is phishing. In addition to hacking the service itself, which is a realistic option at all times, most users fall into the phishing trap.

There is a much better option for those who want to use this service and stay secure, but it is not free. Blockchain Lockbox has been available for some time, and it allows users to trade, with complete security for their coins.

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Quote from: jostorres on December 06, 2019, 04:13:55 AM

It's very secure but if you hold big number of bitcoins go for trezor to access that you will nee to buy their device though.

Can't say that its very secure as it was hacked few times. And there's nothing very secure when using any kind of web wallet. A desktop wallet with malware free device is safer. And hardware wallet as most of the above suggestions.

Only use web wallet for small amount of crypto for spending it online.

The Cryptovator

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Do you believe bank on your native country which is not controlled by government? Blockchain wallet quite same here. Blockchain wallet have no business with Bitcoin blockchain. They are an centralized organisation and managing a web wallet for bitcoin users. Recently they have added multiple coins even launch an exchange called "PIT". So from that angle you can't trust 100% to them.

To be honest, no system are safe. Since they are telling that they do not hold password for their users and can't recover them it's almost safe from some other web wallet or exchange. But I believe they might obtain it if they want since everything is under control of them including wallet file. If you don't wanna use third party to hold fund for you then only solution is use Hardware Wallet. Especially if you wanna use web wallet then you should trust them.

However, even I had used this wallet previously for dealing with small fund and I realised that that wallet is better and safer then some other web wallet. But now, using electrum for small fund and using Ledger for big amount.

jostorres

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It is the oldest web wallet for bitcoins and actually when I first got into bitcoins I thought blockchain.info is the official website for bitcoins and since then I have been using them and personally never had any issues apart from the layout changes that sometimes takes me time to get going and get used to it.

I had issues exporting keys earlier but if you are talking about security and ease of use then I believe there are only few wallets that can come close to the blockchain.com (earlier .info) wallet. It's very secure but if you hold big number of bitcoins go for trezor to access that you will nee to buy their device though.

1Referee

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Quote from: milewilda on November 19, 2019, 04:51:39 PM

Also,im surprised that bitcoin.org is already on top search unlike before.

A lot of effort has been put into easier user navigation, sleeker ui, and apparently also some seo improvements.

If I search for Bitcoin wallet, bitcoin.org pops up above blockchain.com which is hilarious considering that providing a wallet service is their core business model. Interestingly, bitcoin.org has also surpassed bitcoin dot com on Alexa, which is something that I am very happy with, mainly so with the fact that they are listed somewhere on page two over here.

I however do not like seeing ShitPay being recommended on bitcoin.org with the nasty tricks and cheats they are still pulling off.

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Quote from: NeuroticFish on November 17, 2019, 11:54:35 AM

It's written in far too many places that web wallets are to be avoided, no matter if they contain or not keywords like blockchain or bitcoin. One has only to look around instead of going head first.

A must thing should be done for those people who are just starting up but sad to say that majority is too lazy enough just to follow up the basics
of researching thats why no matter how far and hard we do tell on where they should start,if they arent serious on following on whats being suggested
then they would really either end up on the right or wrong path.Also,im surprised that bitcoin.org is already on top search unlike before.

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Quote from: coupable on November 16, 2019, 06:44:38 AM

there could be a web_wallet which has a full control by the user

As long as MEW is opened as a web page, I don't know why it would be so different from blockchain.com; if at the point something is downloaded and run locally, an exe is also fine by me.
So I am not sure why would people use web based wallets at all. If one doesn't want to install, there's always Electrum-portable at hand.

But as long as people don't mind using even custodian services - from exchanges' wallets to Xapo, Bitpay and so on - meaning wallets that are not in the list of recommended wallets at bitcoin.org, I think that we may be overthinking something.

Quote from: coupable on November 16, 2019, 06:44:38 AM

The main factor who caused this large adoption , IMO , is its brand name and how it is still missleading newbies. For experienced users, i doubt if they still using it or any other web_wallet.

Newbies should start with bitcoin.org. That's what we should recommend.
Newbies can be misled by "blockchain.com", by "bitcoin.com" and maybe others too. They have to learn to read the information around them. Sadly in all search results the paid ads go in front, although at least nowadays Google shows bitcoin.org for searches for bitcoin or bitcoin wallet. It's a start.

It's written in far too many places that web wallets are to be avoided, no matter if they contain or not keywords like blockchain or bitcoin. One has only to look around instead of going head first.

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Quote from: hugeblack on November 17, 2019, 04:19:30 AM

If you need those wallets, don't let Blockchain.com be the first choice, but there are some more reliable alternatives like https://coin.space/.

More reliable means better, right?
Actually, i don't know too much about alternatives to blockchain.com . The one you mentioned seems promising as a multi-currency web_wallet; it supports btc, xrp, bch, ltc, eth, and many other Erc20 tokens. Am only interested in bitcoin and this wallet might be a good option so i have just created a new btc wallet, here some notes:
- Segwit not supported.
- Automatically use what they called "smart fees" as the custum fees option is only available for Ethereum.
- Using both Shapeshift and Changelly to process swaps. Both are forcing KYC
What is different from blockchain.com? The only thing i noted is it doesn't require an identity registration to open a wallet like in blockchain.com but there is a field for a personal profile where you can add information and image (i don't know what this serves for.

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Let's not let the flaws of Blockchain.info’s wallet affect the reputation of web wallets. You took the worst example of web wallets and therefore decided they were bad.
The best way to save your money is by using a properly airgap wallet or hardware wallet.
Sometimes it may harm to use one of the wallets and therefore you may need one of those web wallets with small amounts "less than $ 100."
If you need those wallets, don't let Blockchain.com be the first choice, but there are some more reliable alternatives like https://coin.space/.

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Quote from: BitMaxz on November 15, 2019, 05:50:06 PM

But since the blockchain wallet is 24/7 alive and open to all users for me, this wallet still not safe to store big amount of BTC or altcoin. I heard lots of users with hack accounts or blockchain mostly use for scamming purposes.

As explained above, It is all time recommended to not using web_wallets for storing big amounts, for several reasons mainly related to security and how users can be victims of bad links and phishing websites, but the issue i wanted to highlight by starting this topic is that this web_wallet is controlled by a company who hasn't had that good reputation to be fully trusted {never trust a third part}. As mentioned in previous posts, there is no garantees that the company couldn't access users data stored in its servers.

Quote from: BitMaxz on November 15, 2019, 05:50:06 PM

If you doubt in privacy and security of the blockchain wallet I recommend you to use the Electrum wallet instead as an option as a lite version of bitcoin wallet or for higher security choose hardware wallet like Ledger nano this wallet is the best if your plan is to hold a big amount of BTC for a long time.

Compared to some other altcoins, there could be a web_wallet which has a full control by the user, like MyEtherWallet for Ethereum. While it's not the case with bitcoin as there is no other web_wallets except the blockchain.com one [I don't know if there is others] . According to this, the advice can be as follow:

Do never use a web_wallet for bitcoin.
Use a mobile wallet (electrum,wassabi,bither,mycelium...) for storing small amounts and for daily use.
Use a hardware wallet for storing big amounts.

Quote from: stomachgrowls on November 15, 2019, 06:42:17 PM

Even how many times do people suggest out on not to use up these web-wallets mainly specially blockchain.info/com but still there were people who do continue to use this wallet.
Why? This is the common web-wallet that always been introduced in the past and im pretty sure that all of us do have that experience on using up this wallet for sure.

The main factor who caused this large adoption , IMO , is its brand name and how it is still missleading newbies. For experienced users, i doubt if they still using it or any other web_wallet.

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Quote from: coupable on November 15, 2019, 07:42:50 AM

I want to discuss how we actually see this wallet and for how much we should trust it .

Even how many times do people suggest out on not to use up these web-wallets mainly specially blockchain.info/com but still there were people who do continue to use this wallet.
Why? This is the common web-wallet that always been introduced in the past and im pretty sure that all of us do have that experience on using up this wallet for sure.
Im not saying its not safe but there were instances or issues about hacking incidents on this one.Even if i do hold up my own keys i cant still be sure nor completely confident that
they cant access users account if they do like to.This is why i do switch up with electrum and other hardware wallets like Nano.

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Quote from: bL4nkcode on November 15, 2019, 03:15:46 PM

I'm sure they have as they have their github, but I'm not so sure if their repo is updated just like what is seen on their site, and if all of the functions in their web can be seen on their repo as well.

It seems they are always updated according to their commits and releases page
Source: https://github.com/blockchain/blockchain-wallet-v4-frontend

But since the blockchain wallet is 24/7 alive and open to all users for me, this wallet still not safe to store big amount of BTC or altcoin. I heard lots of users with hack accounts or blockchain mostly use for scamming purposes.

If you doubt in privacy and security of the blockchain wallet I recommend you to use the Electrum wallet instead as an option as a lite version of bitcoin wallet or for higher security choose hardware wallet like Ledger nano this wallet is the best if your plan is to hold a big amount of BTC for a long time.

If you are referring to MEW as official wallet of Ethereum. Bitcoin also has an official wallet which is bitcoin core the only problem you need to download the resources of this wallet before you can fully use it properly and you need higher Hard drive space to store the whole blockchain.
Electrum is a lite version of bitcoin core that is why we recommend Electrum as another option just be careful on fake Electrum wallet make to download Electrum directly to the correct URL electrum.org

You can also check Wasabi wallet they are focus on Privacy and they have a good feature like CoinJoin.

bittraffic

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Its an online wallet, you won't know the server side of things so that is something that makes it unsecure. You can even be hacked from the outside by phishing and keylogs, all the more you should be worrying about the employees of blockchain.com who has the access to their server and can change something to it. Its been said many times to users here not to trust webwallets though, it should have been clear since then.

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Quote from: coupable on November 15, 2019, 07:42:50 AM

Does there any published code for the function of this web_wallet?

I'm sure they have as they have their github, but I'm not so sure if their repo is updated just like what is seen on their site, and if all of the functions in their web can be seen on their repo as well.

Quote from: coupable on November 15, 2019, 07:42:50 AM

I want to discuss how we actually see this wallet and for how much we should trust it .

Well, blockchain is quite has its reputation in terms of being a web wallet, but having those vulnerabilities for such web wallet, people are always recommending that only use a web wallet for storing a small amount of fund same like on mobile wallet, a hard ware wallet is always the best choice.

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Quote from: bitmover on November 15, 2019, 12:03:51 PM

Quote from: coupable on November 15, 2019, 07:42:50 AM

Myetherwallet is an official web-wallet for Ethereum, when nothing is official with bitcoin due to its decentralised characteristics .

Where did you get this information from?

A wallet for bitcoin or Ethereum or any crypto should be fully controled by the user and no one has access to it expect its owner. This what i mean by official and explained here:

Quote from: OmegaStarScream on November 15, 2019, 11:25:35 AM

While for MEW's case, the wallet is created locally, and you have to import it each time you want to use it.

Bitcoin is not owned by any official entity and an official wallet is the one confirmed by community and its code is always under community control. {Which is Not the case with blockchain.com}

Quote from: bitmover on November 15, 2019, 12:03:51 PM

Web and mobile wallets are convenient. You should have a few bucks on those kind of wallets for convenience. But keep your life savings in the most secure wallet possible. like you do with your money.

I can agree with you about some trusted mobile wallets like electrum and mycelium, but not with web_wallets which have a risk to be managed by the company privider itself. Here i took the case of the most known and used btc web_wallet, which should not be fully trusted whatever the conditions. blockchain.com is a company who provide a wallet for different cryptocurrencies, and will never advice you not to use it for big amounts.
For poket many, mobile wallets are recommended. So no need for those web_wallets at all.

Quote from: bitmover on November 15, 2019, 12:03:51 PM

Bitcoin is money. Deal with it like real money and you will be fine.

This why i started this thread.

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Quote from: coupable on November 15, 2019, 07:42:50 AM

Myetherwallet is an official web-wallet for Ethereum, when nothing is official with bitcoin due to its decentralised characteristics .

Where did you get this information from? Myetherwallet is not official by any means. They just recommend it, among many others in the official website:
https://ethereum.org/use/#3-what-is-a-wallet-and-which-one-should-i-use

On the other hand, Bitcoin Core software, although not official, is much more supported by core developers and was created by satoshi. Not official either.

Quote

The question is how we are confirmed that blockchain.com is a safe wallet. Users can access their private_keys and create seeds , but how to get sure that the company team have no access to users private_data like passwords and seeds ... ? Does there any published code for the function of this web_wallet?
I want to discuss how we actually see this wallet and for how much we should trust it .

That wallet is not safe. The only safe wallets around are the hardware wallets.

Electrum and Bitcoin Core are safe either, if the user knows how to properly airgap his computer.

Also, you have to think about what kind of security you need. For example, you carry a few cash in your physical wallet right? Is it safe? No, but it is worth taking the risk of carrying it for the convenience of having a few bucks at hand. But would you keep all your life savings in your pocket? Ofc not.

The same thought applies to bitcoin. Web and mobile wallets are convenient. You should have a few bucks on those kind of wallets for convenience. But keep your life savings in the most secure wallet possible. like you do with your money.

Bitcoin is money. Deal with it like real money and you will be fine.

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Quote from: coupable on November 15, 2019, 11:18:08 AM

This is exactly what am talking about. We can't technically get sure about the honesty of this wallet provider and the tean behind always has the ability to play with everything in the website. To be more clear, it's not the same case with the website of Myetherwallet which is a real wallet and can't be managed by anybody, right?

That's correct. For blockchain's wallet, our wallet files are stored in their servers but the passwords of these wallets are not (according to them). While for MEW's case, the wallet is created locally, and you have to import it each time you want to use it.

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Quote from: NeuroticFish on November 15, 2019, 09:26:31 AM

Of course, since it's a website, they can change it whenever they want and "come with surprises".

This is exactly what am talking about. We can't technically get sure about the honesty of this wallet provider and the tean behind always has the ability to play with everything in the website. To be more clear, it's not the same case with the website of Myetherwallet which is a real wallet and can't be managed by anybody, right?

Quote from: NeuroticFish on November 15, 2019, 09:26:31 AM

However, if you have such concerns, why do you use web wallets at all? Buy/start using a hardware wallet, install a proper wallet onto your laptop or smartphone and you are set.

Am not personally using it. I left this wallet long time ago. It's important to find the right definition of the "web_wallet for btc" and to let users know some important notes about the widely known web_wallet in the market. Yes i know this only because of the brand name and not for other securities or added features.
I advice everybody to use hardware wallets for big storage and electrum for daily use and micropaiements, as it's friendly use for newbies and great helpful for experts.

NeuroticFish

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In theory you can install Telerik Fiddler and see what data it "sends home". But since probably some already did that and didn't complain, it should be fine.
Of course, since it's a website, they can change it whenever they want and "come with surprises".

However, if you have such concerns, why do you use web wallets at all? Buy/start using a hardware wallet, install a proper wallet onto your laptop or smartphone and you are set.

coupable

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Myetherwallet is an official web-wallet for Ethereum, when nothing is official with bitcoin due to its decentralised characteristics . The question is how we are confirmed that blockchain.com is a safe wallet. Users can access their private_keys and create seeds , but how to get sure that the company team have no access to users private_data like passwords and seeds ... ? Does there any published code for the function of this web_wallet?
I want to discuss how we actually see this wallet and for how much we should trust it .

Topic: [blockchain.com] Is it really secure ? (Read 272 times)