Topic: I never use wallet like a bank - page 2. (Read 264 times)

It's necessary for personal finance and I am doubtful if someone are not following their payment (get paid or not) to continue their work.

Many options to check your wallet balance but why not have your own wallet and check it in your wallet.

Do you know that explorer can track many things when you enter your address on their explorers? Like IP address.

Why do you have to sacrifice your privacy and things you can do on your side by relying on a third-party website (explorer)?

Register a blockchain explorer by email to get notification on my wallet balance changes. It's very bad advice.

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If you are worrying about hack on your device, you can simply import your wallet in Watch-only mode. You can see balance, transaction history but nobody can steal your bitcoin.

• Creating a Watch-only wallet in Electrum

I think you're a bit confused with what OP is saying, he meant to tell us not to install and use a wallet on our phone as a bank, it's too risky for our bitcoins. If you want to check your transaction status instead, just use explorer, don't log into your wallet too often by smartphone.
But instead of buying a new computer to store bitcoins, I would buy a hardware wallet that would suffice and also be more secure.

All versions are vulnerable and this will not change, which is why it is important to regularly upgrade them with security patches. The only problem is that most smartphones stop receiving such patches after 2-3 years because they are no longer the priority of the manufacturer.


I would not agree that it is only the operating system that should be blamed, because users are actually the ones who install various apps without even checking what they are actually about. I haven't had any problems with malicious apps on my smartphone, so I believe that anyone can achieve this if they only follow some basic rules. These rules are actually very simple and consist of not downloading apps that are relatively new and have a small number of downloads, and to also be careful what permissions you give to any app you install.

I appreciate your concern but those mobile wallet app users are just like desktop users, if they know what wallet app they've downloaded, kept the keys on safe then there's not that much difference but only the device they use upon accessing the wallets that they have.

Even the desktop wallet users are also targeted by hackers, these hackers, phishing methods and other types of reverse engineering, they're all targeting us and they don't mind whether we're desktop or mobile users.

Much better to save and buy a hardware wallet. But either goes effective as long as the user knows how to use them properly whether it's a mobile wallet that has keys, the same with desktop wallets and also for hardware wallets.

Yeah, although there are a lot of advantage of using banking apps, it's one of the most targeted apps by cyber criminals and even if you have a good security practice, they can still hack someone because they are just one step ahead of this game.

And with crypto, it's more evident, our phone is always connected, and worst if we forget about it and used public Wifi, we might exposed ourselves to this criminals who might be just roaming around and looking for their next victim. So just be careful with our online wallets being installed in our phone.

That's right, what he mentioned was not to store bitcoins in the browser. But to see in/out transactions through explorer, he bookmarked it in the browser. In this thread, the OP explained that he doesn't like installing applications for his financial tracking while using traditional banks where we need to install applications or come to an ATM to see transaction records.

Because Explorer is not a place to store money, but only to see the transaction records, so this will not threaten an assets. This means, for any need, he doesn't need to log into the wallet to check for new transactions. A simpler thing than traditional banking wallet.

This is not even a safe practice because many people will tell you that having your wallet in your laptop is as the same thing as having your wallet on your mobile phone. This is because with your laptop, you also install applications and also do some other things online. The advice sounded like it is the ultimate, while it is not.
If you care much about the security of your funds and you got alot of bitcoin to save, then use cold storage metho where you don't even need to visit online at all with the device with which you saved bitcoin.

I understand the fear OP. We live in a very sensitive society, recently it has been discovered that new android OS versions which includes android operating systems running versions 11, 12, 12L, and 13 are vulnerable, reason they are advised to update when ever there is a new release.

And with the numerous applications and malware circulating both on place store and the web one might just give in to hackers too cheaply. It is more safer offline or preferably on paper. Android users are just at the mercy of their operating systems.

The one thing that will put your portfolio at high risk is carelessness and misinformation, even if it is stored in a laptop or you have a hardware wallet if you don't know the basics and the latest about securing your coins no wallet you can use and can secure it.
Security starts on yourself, not on your device, you are your own bank, and a bank has all the security in place to secure their money in vaults from bank robbers, so your mindset should focus on security and not the kind of wallet that you're using.

Be it a laptop or phone you're using for your wallet the responsibility still rest on you to safeguard and keep your gadget off internet hack. It's same risk both laptop and phone user face as long as both gadgets are use to surf the internet. Best safe tips is to avoid any suspicious sites/links, get a strong antivirus protection against malware's or anything as such. And learn to keep secret or private your financial life.

i use 2 smartphones and one of them is an iPhone 11, all my digital wallets, i installed on my iPhone but social media applications or other, i use on other smartphones, to keep my iPhone safe, i never access any wifi there, i just access my digital wallet that is on my iphone with private network and open it only when i need it ^{(increase my investment, to pay for something or exchange)}

i always maintain the security of my personal data and data wallet, especially with lots of bad news that smartphones have been hacked, lost or so on ^{(the internet is a wild world, dangerous for the trivial person)}.

If I maybe right OP isn’t talking about storing bitcoin on Explorer. Bitcoin Explorers are used for many purposes, OP is using his to check for transactions status either maybe the transaction is pending or there is have been confirmations rather than opening is wallet and checking if the transaction has reflected on it. This is done by copying the transaction ID into the explorer or checking using the public address. Public address doesn’t online doesn’t mean your wallet can be compromised, it is only possible when the hacker has access to your private keys. Although a wallet address can be used by third party to monitor the transactions process of that wallet, that is how much comes in and what goes out

OP how did you put Bitcoin on an explorer? Are you talking about the browser? How many times have newbies been warned to never store Bitcoin on anything else than the Electrum wallet or hardware wallet? And you aren't even a newbie, this is a bad practice that could lead to loss of funds.

This is really dangerous especially when you are been into searching for more details on internet since provably you might be at risk to stumble on a phising site or malware which can cause you a financial loss. But if you use separate device for using those wallets and never click anything links nor try to open up some fishy website then I think its fine. Since using those reputable web wallets is somehow can give you a good convenience especially when you try to transact and you are away at your home.

We just need to be more careful on action since so that no hacking issue will occur, also we need to be updated on the wallets we are using to know the controversy happening and can do counter action if something strange happen to them.

That's your choice OP, I do believe that having a crypto wallet on your smartphone is safer than having it on a browser, I found that ridiculous, I can uninstall my wallet from my smartphone since I have the recovery seed, but right now or should I say that since the past few months now I have been buying altcoins and bitcoin, imagine having to reinstall the wallet and import my recovery seed over and over whenever I found a new altcoin to add, it's stressful, and moreover this is why it's called hot wallet.

As long as it's online, It's risky. No matter what device you are using. Hackers can get access to your laptop. Suppose you want to be careful with your wallet. You can be with your android device as well. But, in recent days, Hackers improved their malware. They steal data through the framework. You can read more here Android malware targets 13 bitcoin wallets and 400 banks Shared by lovesmayfamilis. taufik123 Shared about it here https://bitcointalksearch.org/topic/m.61893757.

Let's back where I was. You can use two things. If you really want to hold for a long time. Use Hardware wallet and never store your information online. If you do transaction everyday or couple of times a week. Keep small amount (What you need) of Bitcoin on your Non Custodial Android wallet.

It is not a wrong thing to have bitcoin wallet on your mobile phone as long you dont store large amounts of bitcoins on it and just use it as a hot wallet.



Having your wallet installed on laptop is not much safer than having it on phone as in both ways you can get hacked as long as laptop is connected to internet. It would be safer if instead using Windows you have linux or macOS as those are less prone to malware attacks.

Best way to protect your crypto are hardware wallets so those who have money for laptop should have money for hardware wallets too.

As much as I wanted to use crypto at all, but we should remember that we still need fiat money to use in our daily lives. Its not as if simple things can be bought by crypo. Yes adoption is kicking in but not all accept it yet. There is a choice not to install mobile wallet and use only the card of your bank and only withdraw when you need the money. About monitoring its the same.

Some people get used wallets like banks (mobile banking) just for tracking or knowing if get received money from someone or payment.

But, I don't like them, because we're in a crypto world where don't need to install a bitcoin wallet like mobile banking on your phone if want just to know if received money or payment a week.

Yes, I did it on explorer, I just put my bitcoin address into explorer and bookmark it on the browser (simple, on chrome android, setting it as a shortcut in hope page phone).

If want more detail and receive notifications like mobile banking, you must register in your email on a specific explorer and subscribe.
So if any transaction is on that address, you will receive a notification in your email.

*Note:

We should know, Handphone is one of the target hackers to watch your activity, your life is being watched because too many applications out there we can't research if that is safe (close source).

especially if you are careless and always installed in what you like.

As I can see on the service board, many applicants as user phones and prefer on his phones to install the bitcoin wallet, it's very dangerous for beginner (ex bounty hunter altcoin who never use bitcoin wallet but expert use metamask, trust wallet, coinomi, or another altcoin wallet),

so be careful, start saving now, buy a laptop and create bitcoin wallet there, don't trust too much on your android because you being wathed by hacker.

change immediately your habits before it's too late.