Topic: Never trust an online wallet, for those who don't know - page 6. (Read 6937 times)

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.

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.

I have noticed that many started trusting services that doesn't provide it's users with the private keys, the only online service you can trust is blockchain.info wallet, for the fact they provide private keys but even that is still not enough, I hardly use it for small transactions only.

Services such as Xapo is constantly banning users and keeping their bitcoins me included, you can't sue them for that because you agreed to their terms of service which states the following, they also support some countries and not others.

Read the damn https://xapo.com/terms/ and tell me of one thing protecting us and not their asses, you should only agree to that damn thing if they didn't keep private keys, if private keys are stored on your side instead, or they keep it but encrypted so them selves can't see it without your unlock key.

If you choose to use an online wallet for any particular feature such as credit card, please make sure to not use it as a storage for your life savings or big amounts.

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 have noticed that many started trusting services that doesn't provide it's users with the private keys, the only online service you can trust is blockchain.info wallet, for the fact they provide private keys but even that is still not enough, I hardly use it for small transactions only.

Services such as Xapo is constantly banning users and keeping their bitcoins me included, you can't sue them for that because you agreed to their terms of service which states the following, they also support some countries and not others.

Read the damn https://xapo.com/terms/ and tell me of one thing protecting us and not their asses, you should only agree to that damn thing if they didn't keep private keys, if private keys are stored on your side instead, or they keep it but encrypted so them selves can't see it without your unlock key.

If you choose to use an online wallet for any particular feature such as credit card, please make sure to not use it as a storage for your life savings or big amounts.

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.

None of these online wallets are a 100% secure. The best wallet to have is an offline wallet that's not connected to anything.
These online wallets are kinda like a bank, they hold your bitcoins for you. Instead of you holding it in on a offline wallet. I myself use blockchain as well. I've never had a problem with my wallet. I use this for transactions and such.

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.

Yes, it is good to have our own system to control our money but most of the people now coming to bitcoins may not be having so much technical knowledge on how to use off line wallets and in case of some issues may not be able recover their coins so they prefer to use online wallets. Any online wallet may not be 100% secured but for small amounts should be fine until one familiar with off line wallets.

it is always better for you to hold your coins and have complete control over them, so you need to avoid Webwallets. In the event of having to use one pick up the most trusted like tblockchain.info, and don't hold many coins there.

Well i used coinbase for my online wallet and
i dont use offline wallet as i dont know how to use it.
well thanks for the advice though...
but i think using online wallet is just fine as long as
its not so big amounts on it.

I use online wallets for my every day transaction and storing coins because I don't have much knowledge on desktop wallets. In case PC got some issue than don't know how to recover my coins so I depends on online wallets like XAPO, Blockchain and coinbase. I keep my coins in all these three online wallets.