Is blockchain.com safe for Bitcoin storage?

edgycorner

sr. member

Activity: 1064

Merit: 382

Hurrah for Karamazov!

As others have pointed out already. Are you confusing blockchain.com with blockchain technology?

If yes, then no. Blockchain.com is not safe! Your wallet may face some technical problem and you will be locked out of your coins, probably forever. This is an added risk when you use a third party wallet.

As for blockchain technology, it's secure AF when there are many participants. Except for 51% attack, even then the chain can only be disrupted Cheesy

dansus021

copper member

Activity: 2156

Merit: 983

Part of AOBT - English Translator to Indonesia

all already answer it about blockchain.com, but if you want to encrypt data through blockchain is possible and yes people might can see your data through explorer but nowadays there is bunch of chain that using as fille storage like filecoin and many more

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Yea, it might be a great idea to prevent giving out advice if you're not sure about what you're talking about. Not only that you're breaking your reputation, but you're potentially endangering the funds of other people who don't know better.

Upgrade00

legendary

Activity: 2114

Merit: 2248

Playgram - The Telegram Casino

Quote from: Superdoctor on July 02, 2022, 02:00:39 AM

When you create an account on blockchain, the best thing to do is verify your email address and complete the three key verification factors. This will make bitcoins stored in the app more secured.

It seems to me, like you're confusing the blockchain network or public ledger with the blockchain(dot)com wallet.

•The former is the baseline technology which allows digital assets to exist. Its security depends on the algorithm used. Bitcoin uses Proof Of Work algorithm which makes it the most secured cryptocurrency available.

• The latter is a wallet software used to store and exchange digital assets. It's not recommended.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

If you mean the blockchain.com, then its not safe.

Its considered an online wallet thus not safe for anything can be hacked or with a disgruntled employee, your coins could be compromised and could be sent to someone else account. There were several accounts that weren't recovered already in blockchain.com afaik. The technology blockchain to Bitcoin is what they mean safe, NOT the online wallet.

pooya87

legendary

Activity: 3472

Merit: 10611

It sounds like you are confusing Blockchain with the website called Blockchain.com, they are not the same thing. In bitcoin you don't have an account and you don't need to provide an email address and store some password to your account. All those are for that centralized website.

In bitcoin you create a wallet locally which would create a bunch of keys for you which you would also keep locally. All the transactions (and your coins) are stored in the blockchain that is publicly available to everyone. The security come from the fact that you can only "unlock" your coins using your own key and nobody else can reproduce your key or fake it.

Superdoctor

newbie

Activity: 19

Merit: 3

Blockchain is a very secured decentralized technology where different types of information can be stored, In the case of Bitcoin, blockchain is being used in a decentralized form by which no person or a group can have control over another persons account— meaning, all users collectively have control of their accounts respectively. When you create an account on blockchain, the best thing to do is verify your email address and complete the three key verification factors. This will make bitcoins stored in the app more secured.
Blockchain.com transactions are secured so it’s safe to store bitcoins although one has to be very careful not to forget your password or give out your wallet ID or any valuable information concerning your account. Hackers and scammers has found different ways to gain access to peoples account so everyone has to be very careful about informations related to blockchain accounts. This will make it more safe for storage of any amount of bitcoins now and in the future time to come.

Topic: Is blockchain.com safe for Bitcoin storage? (Read 208 times)