Topic: Is Bitcoin Cloud Decentralized Wallet possible? (Read 227 times)
Hi guys, sorry very late to see all the replies, to tell anyone here i'm new to crypto space and yeah all of you mentioned the security which is i missed (so dumb). Anyway i am trying the GreenAddress now and its perfectly great. Thanks for the suggestions and help and tips too!
I mean it is easier to access it right than a cold storage?
There will always be a trade-off. Just because it's easy to access does not mean it's good. Cold storage is never intended to be accessed regularly anyway.
As far as i understand with Cloud wallet = Web wallets. When it comes to security then i wont consider those web wallets which you can able to access your private keys.
No private key = No coins as everybody know.When it comes to storage then i would suggest hardware ones and also for active pc wallets then i do recommend electrum.
This 2 things is highly recommended.
No private key = No coins as everybody know.When it comes to storage then i would suggest hardware ones and also for active pc wallets then i do recommend electrum.
This 2 things is highly recommended.
I cringe out each time I read cloud and wallet in the same sentence.
For secure cold storage I would suggest a newbie to simply buy a Nano Ledger S from the main source as the purchasing cost is very low. For the rest (minor part) of your funds that you plan to move back and forth frequently, a mobile wallet client such as Electrum is the best path forth. In both cases you are the sole owner of your keys/coins.
There is absolutely no need to trust a third party when hardware and software are readily available to people. Even companies such as blockchain.com are redundant. Another downside of these third parties is that they have proven to be extremely slow with upgrading to Segwit, which helps people to pay much lower fees when transacting. Steer cleer of them!
Example of censorship is the fact that blockchain.com doesn't allow you to send YOUR money to native (bc1) Segwit addresses.
For secure cold storage I would suggest a newbie to simply buy a Nano Ledger S from the main source as the purchasing cost is very low. For the rest (minor part) of your funds that you plan to move back and forth frequently, a mobile wallet client such as Electrum is the best path forth. In both cases you are the sole owner of your keys/coins.
There is absolutely no need to trust a third party when hardware and software are readily available to people. Even companies such as blockchain.com are redundant. Another downside of these third parties is that they have proven to be extremely slow with upgrading to Segwit, which helps people to pay much lower fees when transacting. Steer cleer of them!
Example of censorship is the fact that blockchain.com doesn't allow you to send YOUR money to native (bc1) Segwit addresses.
Hi All,
If someone already opened this topic please give me link. If not, is it possible? I mean it is easier to access it right than a cold storage?
If someone already opened this topic please give me link. If not, is it possible? I mean it is easier to access it right than a cold storage?
If your asking about a Bitcoin could wallet to be safe? If the probability that it surely exists and if you are not referring to online wallets, I guess if there are such wallet I think it will not be safe at all because it is still online and there are the issue's regarding storing your scandals on a could storage it had a 100% chance to get hacked so I guess it is not safe at all, and referring to online wallets it had such security feature that you can use but I guess if there are high-level hackers that can take that on there is still probability that it may still get hacked I suggest using cold storage or paper wallets if your afraid of hackers stealing your money.
If you mean storing your private key on Bitcoin's blockchain, technically it's possible by storing encrypted private key, seed, mnemonic or wallet file on Bitcoin's blockchain with lots of OP_RETURN.
You also can replace it with any P2P protocol such as IPFS or BitTorrent
You also can replace it with any P2P protocol such as IPFS or BitTorrent
So much so that no one really knows what he's talking about. Everyone is trying to comment but it is unclear what interpretation.
I think, he need to edit and give some details for us that post.
Hi All,
If someone already opened this topic please give me link. If not, is it possible? I mean it is easier to access it right than a cold storage?
If someone already opened this topic please give me link. If not, is it possible? I mean it is easier to access it right than a cold storage?
What you are talking about is a web wallet, web based wallet are always controlled and setup by a third party, which means they hold and control your currency. Do you think it will be okay for you to give access to your friend to hold and control your assests. I am not sure why you posted this query?
what you are talking about is called "web wallets" which is basically a website (server) that contains your wallet. there are two types, one that you don't control the keys (like coinbase) and the ones you do (like blockchain.com). both of them are considered the least secure ways of storing bitcoin.
when thinking of wallets you should think about security first and then convenience. in case of a "web" wallet you might get the convenience but you never get the security because of their nature which is being "online".
when thinking of wallets you should think about security first and then convenience. in case of a "web" wallet you might get the convenience but you never get the security because of their nature which is being "online".
Easy than cold storage? I though that's only your way to how you save money will be. I wish you take a time to read good thread here : https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151
Those many options and reference to given you a light, what's most appropriate for your needs.
Those many options and reference to given you a light, what's most appropriate for your needs.
Are you looking for a hardware wallet/paper wallet that is able to be accessed from anywhere, hence the term cloud? Not sure if that's the best useage of it, but it might be a thing.
Look into making your own address, and then getting the private key from it, and then you can use that for transactions and just copy paste it into any wallet that allows you to import stuff, for easy access of your funds every day.
Greenaddress is also a good option!
Look into making your own address, and then getting the private key from it, and then you can use that for transactions and just copy paste it into any wallet that allows you to import stuff, for easy access of your funds every day.
Greenaddress is also a good option!
If by that you mean, online wallets that give you control over your private keys then yes, there is GreenAddress and Omniwallet. Even If these services get compromised, your funds should be secure as long as the passwords you used were strong (resistant to brute-force).
Paper wallets are the only cold storage option that is not that easy to spend from on a regular basis. Hardware wallets are very simple to use and secure, I would suggest them over any other wallet.
Paper wallets are the only cold storage option that is not that easy to spend from on a regular basis. Hardware wallets are very simple to use and secure, I would suggest them over any other wallet.
Hi All,
If someone already opened this topic please give me link. If not, is it possible? I mean it is easier to access it right than a cold storage?
If someone already opened this topic please give me link. If not, is it possible? I mean it is easier to access it right than a cold storage?
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