Newbie should just stick to established wallets, especially those recommended by very old Bitcointalk members who have reasonable amount of "merits". I think those are the ones who tend to recommend something solid.
Many newcomers usually get their information on Crypto from wrong sources and experienced people may not be there to warn them. This forum in my opinion, is one of the best places to be informed on the real things
Topic: Do not trust New wallets with your fund - page 16. (Read 3504 times)
The reason why i don't like new wallets
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
I totally agree with you we should be really careful with choosing which wallet to use to hold and manage our crypto assets because as you say using a wallet which won't provide you private keys is really risky 'coz they can close app anytime they want and run.
Yes, we should always very carefully with the wallets because we don't know exactly when those wallets will get hacked. So we should always manage our assets into our wallet instead of choosing the new wallets. There are many old wallets that have more security compared to a new one.
all forms of applications and cellphone wallets do not guarantee your security. their products have third parties and developers of course have full access to the applications they have created. This is what needs to be known that everything has risks.
Only 3 ETH wallets that I trusted to store my assets:
1. Metamask
> I have used it since 2 years ago to do a transaction on DEX
2. ImToken
> Using it on my android, but now I only use their DAPPS
3. Trust wallet
> This is my favorite wallet, not only for store my ETH assets but also BNB assets
1. Metamask
> I have used it since 2 years ago to do a transaction on DEX
2. ImToken
> Using it on my android, but now I only use their DAPPS
3. Trust wallet
> This is my favorite wallet, not only for store my ETH assets but also BNB assets
The reason why i don't like new wallets
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
I totally agree with you we should be really careful with choosing which wallet to use to hold and manage our crypto assets because as you say using a wallet which won't provide you private keys is really risky 'coz they can close app anytime they want and run.
Not all applications that are displayed in Playstore are safe specially wallets therefore do not be easily convinced to download new wallets even if there are some good comments regarding the apps, as we don't know if they are just a group of scammers. Use the wallet apps from the most reliable and trusted exchanges sites as they are proven safe for a very long time.
The reason why i don't like new wallets
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
Yes, that's also why new wallets are often difficult to attract users unless they are guaranteed with a large business available.1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
Confidence is really one of the problems for many new projects, although it is very potential but when it is not recognized, it is just rubbish here.
The reason why i don't like new wallets
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
Definitely. We never trust new wallets. Maybe it was just created for scam purposes and we will lose all the money if sent into it. It is best to use a famous wallet and have many users1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
True, do not be influenced by the latest wallet application that is just a trick in my opinion. it's better to use the trusted or save on the exchange will be safer.
The reason why i don't like new wallets
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
Definitely. We never trust new wallets. Maybe it was just created for scam purposes and we will lose all the money if sent into it. It is best to use a famous wallet and have many users 1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
2. Many new wallets on playstore can't be trusted,they have different set of aims, some have access to your private keys but they will fool users thinking you are the only one in control of the private keys and some don't give out private keys to users,they work as online wallet
Just keep using your old wallet to safe your asset, it will be better if you get a hardware wallet to keep it. New wallet not trusted yet, may they just want to fool user. But if its not to scamming the others, it still have bunch of bug, under development and many maintenance. Sometime these problem can make your funds loss like dust. So, be careful when you want to use new one, you can test it with little fund.
Many cases of hacking and scams are reasons for us to place in a wallet that already has a good reputation, and for now I place my crypto assets on top exchanges wallet (Okex, Binance, etc) that is mandatory for KYC so that if there are problems it is easy to resolve.
I don't get you, are you saying you are keeping your assets on top exchanges wallet? listen to yourself, just listen to yourself, how will your KYC save you if something go wrong with the so called big exchanges ? do you have your private key? i guess not, you are playing with fire
I have heard enough of all new wallet projects, they are all doing same thing over and over again, the only project that implement a different idea in their wallet is Airwallet, if you hold Airwallet token in the wallet you have automatically join airdrops on Airwallet platform, the bigger the air tokens you hold the bigger your airdrops payout from other projects is going to be
If a wallet isn't widely known with good reputation, there's no point using it ti store our coins. Everyone should strive to own a hardware wallet it saves one from all these wallet issues and likely scams.
There are too many scam apps in the play store right now. That's right, we cannot trust those apps and new wallets. My personal opinion is don't store your funds in online wallets and exchanges. You can get a hardware wallet to store your funds. If you can't buy a hardware wallet, you can get a desktop wallet.
Many cases of hacking and scams are reasons for us to place in a wallet that already has a good reputation, and for now I place my crypto assets on top exchanges wallet (Okex, Binance, etc) that is mandatory for KYC so that if there are problems it is easy to resolve.
The reason why i don't like new wallets
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
1. They always have low users which means they have nothing new to offer,even if new users try them out,once they don't see any thing new they bounce back to their old wallet, repetitive at work
This is not a real argument, new apps can make things more easier, offer better experience and design. People can easily go to other wallets.
The other thing is security, this is very good arguments, a lot of wallets out there are to steal your funds. This is why better stick to well known brands.
I believe that you cannot trust new wallets, as there is a high probability that this wallet will not be safe for our funds. Trust can only come when either you test this wallet yourself and make sure it is reliable, or the wallet will have an excellent reputation among users. Only in these cases can you entrust your money to the new wallet.
Those new wallets are aimed to new crypto users. People who have been in crypto for some time know there are some wallets that have been around for a long time, that are used by many people, that are trusted, and these people know how risky is to trust in new wallets coming from nowhere.
if people will only stick on old stuffs how can new stuffs be discovered ? you know mate i have seen alot of new stuffs that became instant popular and they even surpass the old stuff . the same scenario can also be applied to crypto wallets .
there are more older wallets than the wallet that you currently use today . people that use older wallet do also love to try newer wallets because new wallets have new features or design and any other thing that they cant be find on older wallets .
Those new wallets are aimed to new crypto users. People who have been in crypto for some time know there are some wallets that have been around for a long time, that are used by many people, that are trusted, and these people know how risky is to trust in new wallets coming from nowhere. Moreover, it's widely known that when you are going to use one of these established wallets, first, you need to check that you are using the real one, not a fake one. However, for new users is different. They just search in google or the store for a wallet and they download the first one they find, just because they are not aware of the risks.
This is pointing to people that are using online wallets e.g xapo wallet or freewallet which gives users access to login with emails and passwords only, no private keys no recovery seeds, once you lost your phone or lost access to the email address you used to sign up its goodbye to your coins
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