Topic: Never trust an online wallet, for those who don't know - page 7. (Read 6937 times)

I only use online wallet since I don't know how to use offline wallet. Downloaded bitcoin core but I don't have much time to learn how to use it. Well anyways, I don't have much bitcoin to store for now. If I decided to buy some serious amount of bitcoin then I guess it will be the time for me to learn using offline wallet.

They are good for cryto community because they make it easier for new people to crypto, their positive side only, but if the new guy get ripped off by bad support that's also a bad thing to the community.

I hope people learn how to manage their own coins in short time after using xapo, getting used to xapo and other services will make the community dump, they wont care about blockchain, they wont care how it works or what is private keys, they will only care about imaginary numbers going from wallet to wallet.

Coinbase and Xapo being the new Paypal is a scary idea but it seems to match the experiences of some people. Those people probably didn't read the terms and conditions, but even so. It's very easy to trust attractive looking services but I'll stick to controlling my own keys.

What do you mean by high fees?
GO to the custom tab and you can pick a custom fee. (Even 0 btc)

Also, xapo is basically paypal.
Same concept except with bitcoin.

2FA wont be important, for example if you have a copy of the wallet private keys in your pc or email, they can import it directly without the knowledge of wither u use blockchain or something else, 2FA and password and identifier is a false security feeling.

The real thing is the safest, hard cold paper wallet for big amounts, full core node or at least multibit for pc/mac/linux "small hot wallet", and mycelium on the go, and in all cases keep the 12 words on a paper far away in case your pc or phone burn.

How could that happen? I have my blockchain wallet for over 1.5 year and never had any problems. Their security system is very solid, 2FA wallet identifier etc.
In that perspective it is safer then most exchanges?

I am using Multibit since my blockchain wallet was hacked even with 2FA enabled, so I guess they are not very secure with private keys. I am using Multibit since almost 6 months, without any problem ,small and big amount.

You don't need a online wallet for portability. You can easily use a HD wallet and use a wallet which have the same BIP32 deviation path as your desktop wallet. Since all the addresses generated are deterministic, you won't lose any coins.

If you look at the security flaws that Blockchain.info made, I rather store it with an exchange than with them Some exchanges actually have a cold storage and some wallet providers even provide insurance for coins.

Eh? Take some time to read the thread?

Well, I once had a problem with a blockchain.info wallet.  I was even using 2FA.  I lost ALL BTC (briefly).  It took some back & forth with them, but I did get my BTC back.  Never explained what happened...

Now I use blockchain.info for small amounts, and for short-term storage for using their SharedCoin service.

blockchain.info's MOBILE wallet has always worked well for me (some 12 transactions).

Although I agree the are safety issues with online wallets, exchanges, credit cards and Paypal, I've never had a problem and if they really ban you then there must be something bad with your behaviour. These companies are serious and they don't go around robbing people, it would be an scandal.

Totally agree with you, online wallets can be exploited much easier that offline ones. But in some cases, you're forced to hold your funds in online wallets, depending how often you spend. Not talking about enormous amounts although.

I own a Trezor, so I'm pretty "safe" (I want to believe)

For usability you need an online wallet. Bringing your pc to every meeting is just wrong. Sure I try to have a lower balance with my blockchain account, but I need it.
Rather then blockchain.info I would not trust an exchange with it.

P.S. If you look at  the security measures blockchain.info takes and some users take, storing it online in most cases is safer then offline.

No no, I was like if you really are dying to use an online wallet, at least blockchain.info gives you the private keys.
as a personal choice I use multibit for windows and mycelium for android, I would pretty much get ledger and get rid of the hotwallet but for now I will just save in paper wallet.

I use Bitgo and have never had a single issue. They even offer insurance option for larger amounts. Highly recommended.

Never use an address from an exchange, Blockchain.info is enough for everyone to use and it's safe.

Blockchain.info has a regular network fees of 0.0001BTC/KB which is rather small and standard, even 0.00002BTC/KB can work. Coinbase pays the TX fees for you and you must follow their terms no matter what.

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Blockchain.info is not 100% secure either. They are a central validation wallet which means that the users need to rely on them to get correct information about the wallet. They have been quite unreliable and accepted transactions which have invalid signatures[1]. This is a huge risk for merchants who regularly accept Bitcoins through their API. Blockchain.info automatically sends the change back to the original address which could risk the privacy of the users. They have been rather incompetent on their security for the past few years[2][3] and I have migrated from their wallet to Multibit. By keeping your wallet backup on their server, you need to trust them to manage it securely and have a strong encryption.

I would recommend going with greenaddress.it. When using 2 of 2 multisig with them, they send a nlocktime script to users which allow the users to redeem them if they are down. With 2 of 3 multi sig, users keep two of the keys and they can't compromise it in any way. No keys are stored on their server, encrypted or not. With them, you can select the Electrum servers/your own node to verify against and there is no risk of sybil attacks.

For the online wallet, greenaddress.it is one of the best. They can still make unauthorized changes though, like every online wallets go for desktop wallet if you don't want this risk.

[1] https://www.reddit.com/r/Bitcoin/comments/3frn1d/satoshis_coins_have_not_moved_blockchaininfo_is
[2] https://blog.blockchain.com/2014/12/08/blockchain-info-security-disclosure/
[3] http://arstechnica.com/security/2015/05/crypto-flaws-in-blockchain-android-app-sent-bitcoins-to-the-wrong-address/

I am using ledger H.W 1 Hardware Wallet to store my bitcoins securely. Never had a single issue using it. I feel, it is the most safe and secure offline wallet,  I ever use to store my bitcoins.

i use blockchain wallet already since a long time and never had a problem with this wallet and i'm still comfortable using it till now because i never have huge amount of bitcoin so i think it's not necessary to use offline wallet