Yeah online wallet you can't trust it that is true.
But for people who is starting you need to trust it.
That is why you need to have more than one wallet like one online en one offline.
Topic: Never trust an online wallet, for those who don't know - page 4. (Read 6937 times)
I trust Coinbase... Why not? There's not a problem with trusting them.
Many have complained about having their coinbase accounts locked. But usually it comes down to them using it for online gambling sites which is not allowed in the united states where coinbase main site is located. That can get there whole company in trouble if the feds know they are enabling their clients to fund accounts for the use of gambling online.The user can transfer the funds from the coinbase wallet to his own local wallet and then transfer to gambling site.
Be decentralized, and online wallets should be more transparent about the shit they do in the background, it breaks all the things bitcion was invented for.
About time till bitcoin becomes just another FIAT system of numbers on screen that transfers between people and inside their (accounts).
You have been warned, you can troll, flame and do whatever you want, but at the end of the day you are the one losing their bitcoins.
Be safe.
I agree with your warning - it's important for everyone to know what the benefits and risks are with any business they engage in. I don't agree with your heavy skepticism.
Answer a question for me, do you use a bank for your fiat transactions or savings?
If yes, you subscribe to the fiat version of an online wallet. Fiat banks don't but Anonymousx's money into a little envelope (little, because I assume you have higher balances in bitcoin, haha) waiting for you to use it. They put your money with everyone else's and just keep record of what they owe you.
What bitcoin doesn't have is an insurance system to protect people from fraud or a run on the online wallet banks, think of the shit that led to the 1929 crash of the US stock markets.
But I don't think the existence of online wallets goes against all that bitcoin stands for. It's important for multiple options be available for different types of users and different types of uses. Online wallets are great for business transactions. They're also great for those that don't think they can keep the private keys for offline wallets safe, with confidence, forever.
Variety of options, freedom of choice, free markets, all of those uphold the fundamental values of Bitcoin.
I personally think that you can use Blockchain.info and that it is perfectly safe. I'm using it for 2 years now and never had an issue.
blockchain is good almost everybody uses this wallet, but I think a third party is not good enoughI prefer to offline wallet
I personally think that you can use Blockchain.info and that it is perfectly safe. I'm using it for 2 years now and never had an issue.
I hold my BTC on an offline wallet but I've got a small amount on a Coinbase account which I find more convenient for day-to-day transactions.
Still, I read those stories of people having issues with Coinbase and I start wondering about switching to another online provider.
better to save money on the online wallet more secure, but its shortcomings are less flexible, we could only open the wallet in our computer course, different from the online wallet Still, I read those stories of people having issues with Coinbase and I start wondering about switching to another online provider.
I trust Coinbase... Why not? There's not a problem with trusting them.
Many have complained about having their coinbase accounts locked. But usually it comes down to them using it for online gambling sites which is not allowed in the united states where coinbase main site is located. That can get there whole company in trouble if the feds know they are enabling their clients to fund accounts for the use of gambling online. 
I trust Coinbase... Why not? There's not a problem with trusting them.
"Never trust an online wallet" that's like saying never trust a bank which is fine as long as you're okay with keeping all your money under your bed. Personally, I don't have a local wallet, I only use Coinbase for big or small amounts (I've never owned more than 10 BTC but it wouldn't make a difference if I did). It's just that for me the advantages far outweigh the risks. Also, trusted online wallets make zero confirmation systems possible. If you're paying from a local wallet, a zero wait transaction would mean the other party has to trust you, the online wallet on the other hand will be able to immediately confirm that you have the funds and that it's on it's way as soon as you click send.
Coinbase is very good as a hot wallet and for small amounts.
And as long as you do not make transactions with gambling sites, your account will not be locked .
So I recommend you to continue using it specially they are paying the transactions fees which is going higher in the next days
And as long as you do not make transactions with gambling sites, your account will not be locked .
So I recommend you to continue using it specially they are paying the transactions fees which is going higher in the next days
Got it, I'm not really into gambling so I should not be worried about getting my account lock someday for no reason.
Thanks for pointing this.
I hold my BTC on an offline wallet but I've got a small amount on a Coinbase account which I find more convenient for day-to-day transactions.
Still, I read those stories of people having issues with Coinbase and I start wondering about switching to another online provider.
Still, I read those stories of people having issues with Coinbase and I start wondering about switching to another online provider.
Coinbase is very good as a hot wallet and for small amounts.
And as long as you do not make transactions with gambling sites, your account will not be locked .
So I recommend you to continue using it specially they are paying the transactions fees which is going higher in the next days
I hold my BTC on an offline wallet but I've got a small amount on a Coinbase account which I find more convenient for day-to-day transactions.
Still, I read those stories of people having issues with Coinbase and I start wondering about switching to another online provider.
Still, I read those stories of people having issues with Coinbase and I start wondering about switching to another online provider.
Online wallets are not for storage, everyone knows that. They are a temporary place to use to collect and move funds for different reasons. If you go to bed at night with more than a single BTC in an online wallet, then you are leaving it on the sidewalk for the next passerby.
But not everyone know or even care about it, especially beginner who try to use bitcoin, they want an instant method to have a wallet without research first about the security.
And that's the main problem.
I think over time as bitcoin grows an emphasis on not using online wallets will be more predominant then it is now.
That's the mean and only reason to use an online wallet. Having your bitcoin accessible anytime, anywhere.
But not all, just a safe amount which enables you to buy the things you need regulary.
Online wallets are not for storage, everyone knows that. They are a temporary place to use to collect and move funds for different reasons. If you go to bed at night with more than a single BTC in an online wallet, then you are leaving it on the sidewalk for the next passerby.
But not everyone know or even care about it, especially beginner who try to use bitcoin, they want an instant method to have a wallet without research first about the security.
And that's the main problem.
I think over time as bitcoin grows an emphasis on not using online wallets will be more predominant then it is now.
Online wallets are not for storage, everyone knows that. They are a temporary place to use to collect and move funds for different reasons. If you go to bed at night with more than a single BTC in an online wallet, then you are leaving it on the sidewalk for the next passerby.
Yes but holding some small amount for daily usage is quite safe. Remember not everybody has a wallet which can travel everywhere.
I for one need acces to my bitcoin when i visit a friend for example.
Online wallets are not for storage, everyone knows that. They are a temporary place to use to collect and move funds for different reasons. If you go to bed at night with more than a single BTC in an online wallet, then you are leaving it on the sidewalk for the next passerby.
But not everyone know or even care about it, especially beginner who try to use bitcoin, they want an instant method to have a wallet without research first about the security.
And that's the main problem.
I think over time as bitcoin grows an emphasis on not using online wallets will be more predominant then it is now.
Online wallets are not for storage, everyone knows that. They are a temporary place to use to collect and move funds for different reasons. If you go to bed at night with more than a single BTC in an online wallet, then you are leaving it on the sidewalk for the next passerby.
But not everyone know or even care about it, especially beginner who try to use bitcoin, they want an instant method to have a wallet without research first about the security.
Online wallets are not for storage, everyone knows that. They are a temporary place to use to collect and move funds for different reasons. If you go to bed at night with more than a single BTC in an online wallet, then you are leaving it on the sidewalk for the next passerby.
This is why you shouldn't place every bitcoin you own in one wallet. Let alone an online wallet.
I'm a bit skeptical when it comes to online wallets, because they are in some good use in some cases. I hold the majority offline though.
I'm a bit skeptical when it comes to online wallets, because they are in some good use in some cases. I hold the majority offline though.
Off course offline wallets are very safe but when it comes to quick transaction of small amounts then it sucks because it is not quick like a online wallet so what I do is I divide and keep my bitcoins in different wallets. I use both online and offline wallets. Online wallets also I have few off them so if one got some issue also I may not lose all my bitcoins. Online wallets are some thing like your keeping your money in your trusted member house so there is always higher risk of losing your coins.
Cold storage is not meant for daily use... You use it for more secure long term storage, so there is not reason to compare the two based on usability on a daily basis. If you want
daily usability, buy a hardware wallet like a Trezor. The same goes for online wallets... you never store large amounts of coins on them... just enough for daily or weekly use.
The moment when you do not have exclusive access to your private key, you relinquish power to someone else... in most cases, someone you do not know.
This is why you shouldn't place every bitcoin you own in one wallet. Let alone an online wallet.
I'm a bit skeptical when it comes to online wallets, because they are in some good use in some cases. I hold the majority offline though.
I'm a bit skeptical when it comes to online wallets, because they are in some good use in some cases. I hold the majority offline though.
Off course offline wallets are very safe but when it comes to quick transaction of small amounts then it sucks because it is not quick like a online wallet so what I do is I divide and keep my bitcoins in different wallets. I use both online and offline wallets. Online wallets also I have few off them so if one got some issue also I may not lose all my bitcoins. Online wallets are some thing like your keeping your money in your trusted member house so there is always higher risk of losing your coins.
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