Topic: Never trust an online wallet, for those who don't know - page 8. (Read 6937 times)

You are contradicting yourself OP, your thread title says "Never trust an online wallet..." but you recommend Blockchain.info which is an online wallet, but I agree with you, I would go with Blockchain.info than using Coinbase as I've read in some threads here that their account's was closed by Coinbase.

If you don't own the keys, you don't own the Bitcoins. That's the truth and it has been told many times but people don't bother about it until and unless they get into a problem where they can't access their funds.

Blockchain.info wallet is OK for small amounts but only if you keep back up of your keys, so if some day the site is off-line for some reason, you'll be able to get hold of your funds by importing your keys in another wallet. Coinbase, Xapo, etc. are not wallets, they're service providers and should be used for buying/selling services and not as wallets.

Also, if you have a Desktop and/or an Android device then you don't need to use on-line wallets period, there are wallets which provide much better protection and are much convenient to use. For ex. Electrum, Mycelium.

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.

That ok for small amount but still, coinbase is the same as paypal, they ban and everything, if you really really need an online wallet use blockchain.info, they don't keep your keys, the version they keep is encrypted and they can't use it, it decrypt on client side for signing with salt from server which makes it impossible for browser extensions to sniff it, it does also have google F2A.

Cons of blockchain.info that you can't restore your password if you forgot it, so make sure to write the 12 words of your seed on a paper and you will be good to go, they can be found on "import/export" tab.

I use Blockchain and Coinbase and I never had a problem ever since I started using those 2. I downloaded Armory a month ago but I cant get it running so I give up on it and continue using Blockchain and Coinbase. You just need to know how to protect your coins like using 2fa and don't just rely on what the site offers as protection.

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 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.