Never trust an online wallet, for those who don't know - page 5.

ranochigo

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Quote from: Sir_lagsalot on December 22, 2015, 07:59:36 PM

Quote from: enhu on December 22, 2015, 03:38:35 AM

Quote from: extrabyte on December 22, 2015, 03:21:56 AM

anonymousx, i would like to know in which bitcoin wallet have you moved, people are having issue also with another online wallet - coinbase.

blockchain.info most probably. people tend to trust the site since it seem like there is no issues to them since the start.

I kept using blockchain as well as i just have small amount of bitcoin as i kept buying and cashing out for my needs. those that I send to my armoury wallet are the ones I just save but even that I still have less than 0.5 btc to that offline wallet.

Blockchain.info holds your encrypted wallet, and your password decrypts it. Blockchain.info truly is the safest online wallet, because they don't have access to your coins, like coinbase.

I personally user coinbase though, because I gold large sums of bitcoin in either investments or on my cold wallet.

They aren't safe. You are still downloading the scripts for creating addresses and sending transactions. They can easily add a flawed RNG and your private key can be obtained easily(happened before). At the log in page, they can add a malicious script to capture your passwords.

Coinbase controls your private keys which means that they have full access to your coins.

Sir_lagsalot

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Quote from: enhu on December 22, 2015, 03:38:35 AM

Quote from: extrabyte on December 22, 2015, 03:21:56 AM

anonymousx, i would like to know in which bitcoin wallet have you moved, people are having issue also with another online wallet - coinbase.

blockchain.info most probably. people tend to trust the site since it seem like there is no issues to them since the start.

I kept using blockchain as well as i just have small amount of bitcoin as i kept buying and cashing out for my needs. those that I send to my armoury wallet are the ones I just save but even that I still have less than 0.5 btc to that offline wallet.

Blockchain.info holds your encrypted wallet, and your password decrypts it. Blockchain.info truly is the safest online wallet, because they don't have access to your coins, like coinbase.

I personally user coinbase though, because I gold large sums of bitcoin in either investments or on my cold wallet.

Hashminers

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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.

Cacaparg

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I do not use online wallets as that is against the principle of bitcoin, which is decentralization. For others maybe a small amount in online wallet is fine.

enhu

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Quote from: extrabyte on December 22, 2015, 03:21:56 AM

anonymousx, i would like to know in which bitcoin wallet have you moved, people are having issue also with another online wallet - coinbase.

blockchain.info most probably. people tend to trust the site since it seem like there is no issues to them since the start.

I kept using blockchain as well as i just have small amount of bitcoin as i kept buying and cashing out for my needs. those that I send to my armoury wallet are the ones I just save but even that I still have less than 0.5 btc to that offline wallet.

QQ88

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Quote from: coinzat on December 18, 2015, 07:36:49 AM

I believe that nothing is secure 100℅ when it comse to technology at all. So if online wallets can not be trusted so desktop wallets are the same as it can be baked with viruses or defected apps

Hardware wallets are the solutions if you hold a large number of bitcoin.

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anonymousx, i would like to know in which bitcoin wallet have you moved, people are having issue also with another online wallet - coinbase.

jt byte

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This is why I only use online wallets for small transactions and if I want to buy something online. I don't have much on them either.
I prefer to use blockchain, they do give out your private keys to your wallet, even with those private keys, I am still very careful with that wallet and making sure not to hold much bitcoin on them.

kingofbitcoin

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Good bye Blockchain , you were hacked

Virus or apps? Maybe true to Windows, not much for Unix/Linux.

coinzat

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Young but I'm not that bold

I believe that nothing is secure 100℅ when it comse to technology at all. So if online wallets can not be trusted so desktop wallets are the same as it can be baked with viruses or defected apps

Mukyasa

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I do not use online wallet. I only use the core client. It is difficult for the to trust the online wallet providers.

agustina2

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Quote from: MaxTax on December 18, 2015, 05:55:16 AM

I think the only time online wallets can be trusted is if they give you the private keys. I've been using blockchain for this exact reason.
Even though I don't hold much in my online wallets, it's still handy to use when I want to make a quick transaction.

Blockchain online wallet does hold your private keys too even they gave you that. Online wallet is good for faster transaction. No harm trusting them. Just don't let all of your coins stored to that kind of wallet. And some wallet facing legal terms like Coinbase.

MaxTax

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I think the only time online wallets can be trusted is if they give you the private keys. I've been using blockchain for this exact reason.
Even though I don't hold much in my online wallets, it's still handy to use when I want to make a quick transaction.

foxbitcoin

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Quote from: sukamasoto on December 17, 2015, 09:00:42 PM

I believe your reason is reasonable, but in my opinion even the strongest security has a flaw,

but because of that little flaw then its being called not secured is also not right,

but for once again its just my opinion, but then if we don’t store it at online wallet where is the safest place to store ?

But one suggestion that I agree is don’t store too many bitcoin in your account because if its lost nobody can track and return the bitcoin to you

You could use bitcoin core, electrum, or multibit wallets, which are safer than using online wallets. The safest place to store bitcion is cold paper wallet, or hardware wallet Trezor.

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Quote from: TastyChillySauce00 on December 17, 2015, 11:13:37 PM

Quote from: The Sceptical Chymist on December 17, 2015, 10:43:34 PM

Quote from: neochiny on December 07, 2015, 09:59:11 PM

I dont like using blockchain as it has a high transaction fees.
and it takes so long... and also blockchain is always down. thats what i dont like
with it. and yeah.. even in coinbase i can use 2fa and even cp verification in every transaction.
so i think its still safe. but thanks for the information.

Yeah, you got that right, and that's one of the reasons why I don't use that anymore. I use the moon faucets pretty frequently and so I have a Xapo wallet, but I transfer the btc as soon as it reaches a few cents worth. I trust them as far as I can throw them.

Mycelium is the only wallet I really use and it's been good so far. I don't claim to be an expert on btc, but you have the private keys with them, right?

since my activity on bitcoin transaction not that high i think spending worth of 5cents isn't a problem,but which aspect make it too expensive for you?

Why do you say the transaction fees are too high? You could set the fees manually and get the tx confirmed in the blockchain. If you not rush to send the transaction, you could include lower or zero fees.

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Quote from: The Sceptical Chymist on December 17, 2015, 10:43:34 PM

Quote from: neochiny on December 07, 2015, 09:59:11 PM

I dont like using blockchain as it has a high transaction fees.
and it takes so long... and also blockchain is always down. thats what i dont like
with it. and yeah.. even in coinbase i can use 2fa and even cp verification in every transaction.
so i think its still safe. but thanks for the information.

Yeah, you got that right, and that's one of the reasons why I don't use that anymore. I use the moon faucets pretty frequently and so I have a Xapo wallet, but I transfer the btc as soon as it reaches a few cents worth. I trust them as far as I can throw them.

Mycelium is the only wallet I really use and it's been good so far. I don't claim to be an expert on btc, but you have the private keys with them, right?

since my activity on bitcoin transaction not that high i think spending worth of 5cents isn't a problem,but which aspect make it too expensive for you?

ranochigo

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Quote from: The Sceptical Chymist on December 17, 2015, 10:43:34 PM

Quote from: neochiny on December 07, 2015, 09:59:11 PM

I dont like using blockchain as it has a high transaction fees.
and it takes so long... and also blockchain is always down. thats what i dont like
with it. and yeah.. even in coinbase i can use 2fa and even cp verification in every transaction.
so i think its still safe. but thanks for the information.

Yeah, you got that right, and that's one of the reasons why I don't use that anymore. I use the moon faucets pretty frequently and so I have a Xapo wallet, but I transfer the btc as soon as it reaches a few cents worth. I trust them as far as I can throw them.

Mycelium is the only wallet I really use and it's been good so far. I don't claim to be an expert on btc, but you have the private keys with them, right?

Xapo, Coinbase etc are great for fauceting since they pay the TX fees and won't result in a large part of your earnings taken away. However, I would still recommend people to move the BTC out as soon as there is a significant amount.

Mycelium does not have your private keys or does it get transferred out from your phone. They use central validation though.

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Quote from: neochiny on December 07, 2015, 09:59:11 PM

I dont like using blockchain as it has a high transaction fees.
and it takes so long... and also blockchain is always down. thats what i dont like
with it. and yeah.. even in coinbase i can use 2fa and even cp verification in every transaction.
so i think its still safe. but thanks for the information.

Yeah, you got that right, and that's one of the reasons why I don't use that anymore. I use the moon faucets pretty frequently and so I have a Xapo wallet, but I transfer the btc as soon as it reaches a few cents worth. I trust them as far as I can throw them.

Mycelium is the only wallet I really use and it's been good so far. I don't claim to be an expert on btc, but you have the private keys with them, right?

sukamasoto

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I believe your reason is reasonable, but in my opinion even the strongest security has a flaw,

but because of that little flaw then its being called not secured is also not right,

but for once again its just my opinion, but then if we don’t store it at online wallet where is the safest place to store ?

But one suggestion that I agree is don’t store too many bitcoin in your account because if its lost nobody can track and return the bitcoin to you

MaritiJames3

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Quote from: biggbox on December 17, 2015, 09:25:15 AM

Quote from: ranochigo on December 17, 2015, 05:59:20 AM

Quote from: biggbox on December 16, 2015, 09:07:24 AM

I wonder if online wallet allows user to export their private key, will it still be a concern?

I don't trust xapos wallet because it doesn't allow you to export your private key.

Security wise, no. Even if online wallets allow users to have access to their private keys, the online wallets do still have access to the private key. Online services can still potentially steal your Bitcoins. For it to be truly secure, privates keys must never be exposed to the internet, encrypted or not.

Thanks for the alert. Then we should also be wary of those vanity bitcoin address generating service too since they also have a copy of the private key.

As far as I know, blockchain provides private keys, you could look into them. I've been using blockchain for awhile next to me offline wallet.
I never had an issue with them but there are enough people here on this forum who think other wise.

Topic: Never trust an online wallet, for those who don't know - page 5. (Read 6937 times)