Topic: Online Wallet - Site Disappears (Read 5241 times)
At this stage, it is not advisable to store any coin in an online wallet except for a particular coin that has such as the only form of storage at that time, a lot of things could happen to it, either the site disappears or attacked by phising sites. This is synonymous to keeping funds in exchanges, it very risky
Online wallet is not very trusted in my opinion. I know there is many online wallet which have been running for a long time but their is no guarantee. Not even online wallet every wallet which don't give you private keys or even acces to your wallet cahain is not good. Hardware wallets are most suggested wallet for any kind of holding. If you can't afford bthat use any other wallet wich give fully access to the wallet your key phrase everything. I never used online wallet and I would never be.
Basically, funds should be kept off-line. That's why we have a type of cold wallets. Online wallets are risky as hot wallets. If coins already listed on good exchanges, why not store your coins on those reliable exchanges? It is much better than storing them on online wallets. However, storing coins directly on exchanges is still not a best option, but you can use it as alternative for online wallets. And you should remember to choose reliable exchanges, only.
when you say online wallet, can you give example?
You mean like myetherwallet, blockchain?
What about wallets like electrum or armory or coinomi? What about waves desktop client wallet?
You mean like myetherwallet, blockchain?
What about wallets like electrum or armory or coinomi? What about waves desktop client wallet?
yeah, but i just choose online wallet that they give us the private key, so if someday the site are hacked or down we can still acces our money from another wallet because we have the private key, but i'm prefer to used desktop wallet than online web based wallet for security reason
1) If you are using the online wallets as a middle wallet for transferring to exchanges and back, it is ok not to concern about the security of coins which will stay there for days.2) If you have the intention to hold the coins for a long time or you don't want to touch till the bull run then it is time to check the hardware wallet sites. I definitely recommend trying the Trezor(Black and bigger screen) and Keepkey. Both hardware wallets are the safest considering the cryptocurrency security standard norms.
yeah, but i just choose online wallet that they give us the private key, so if someday the site are hacked or down we can still acces our money from another wallet because we have the private key, but i'm prefer to used desktop wallet than online web based wallet for security reason
If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?
Are you scared?
Online wallets equally have recovery phrases or mnemonics which you can use to log into a different compatible wallet. However, the best place to store your digital assets is offline on trezor or ledger but if they are too expensive for you, go for mobile wallets such Enjin, imtoken or trust wallet
I have never heard of this incident as a solution, do we have to keep it in the wallet offline? is there an offline wallet that supports all tokens and altcoin. continue the risks that can be obtained from the use
Not neccesary, just keep your main money in offline wallet, like in the form of btc if the amount is so much. Clearly I never hear offline wallet that support so much altcoins, basically we need online wallet to do that for us. 
There are 2 diffrent online wallets.
Cloud wallets or custody wallets - wallets that do not provide you private key, you are not a real owner.
HD wallet - you access to your funds with a private key.
If cloud wallet disappear, you have a real problem
.
Cloud wallets or custody wallets - wallets that do not provide you private key, you are not a real owner.
HD wallet - you access to your funds with a private key.
If cloud wallet disappear, you have a real problem
. 
Any sane person would never store huge amount of coins in an online wallet. No matter how much "secure" they claim they are, there is always a chance of them getting hacked. Again, there is also equal possibility of them scamming you your coins and just running away with your wallet. As long as you don't have access to your private keys, the coins are never your. Again, if someone else also has access to your private keys, then there is always a high chance of losing your coins. The sight may disappear, so use online wallets at your own risk/
I use web wallets to store some coins but I still have my private keys so anytime site is not accessible I can equally use app. Well, it depends on the online wallet you refer to, the ones I use I can still import to app when offline.
Why not get a mobile wallets and download it, and make use of it, instead of making use of online wallets that can get away with your fund at any given time
Online wallet is not very trusted in my opinion. I know there is many online wallet which have been running for a long time but their is no guarantee. Not even online wallet every wallet which don't give you private keys or even acces to your wallet cahain is not good. Hardware wallets are most suggested wallet for any kind of holding. If you can't afford bthat use any other wallet wich give fully access to the wallet your key phrase everything. I never used online wallet and I would never be.
Using online wallet is very risky and people should know about that. Many people in this market use online wallet cause they don't have to take care of private key they are easily accessible. But the risk factor is very high when you keep your coin in this kindbof wallets. I always prefer of you have some extra money go for some hardware wallet if even that is not possible for you then atleast use some official or official recommend wallets. This market is full of volatility and risk. And taking some extra risk is not good for me. That's why I never go for online wallets.
Keeping coins on online wallets is pretty foolish. If you forget the password or the site got hacked or maybe the owner of the site can do the favor to you and you will lose everything. So, it'll be safer if we kept coins on mobile wallets rather than online wallets.
There are some online wallets (web wallets) which make use of private key, mnemonic phrase or keystore and can be imported in other similar wallets especially for ERC20 tokens. So it depends on the web wallet you are referring to. A reasonable person won't just store coins in just any web wallet he or she comes across.
because now most wallets use privatekey / seed / mnemonic to enter. and many online wallets that support it, so I'm not afraid, but if I keep a wallet that is reserved for one type of coin, for example nem and I have a lot of nem and there is no alternative wallet I will be very scared
Storing your coin in an online wallet that u don't have the private keys to it is one of the dangerous risks in crypto, a cold wallet that can store both ERC20 token and bitcoin in my own view is the best way to store your coins
Projects have their own-built wallets, so I don't really understand why people are too lazy to use online wallets, that are risky for sure. Using online wallets, they don't have control on their private keys or seeds, and might lose their funds at any time (if sites shut down, or owners of those sites do scam exits and steal users' funds).
Yeah, you're right! If such coin got its own wallet then it should be the one which you will use above any options out there. However, if it's not then I also see no threats of using online wallets as long as it was proven legit and already running for a long period of time. The best example is MEW.
Good investors know best than to store their funds in online wallet, that's a big risk. What happened to cold wallets and trusted wallet like blockchain wallet, myetherwallet, Imtoken and others. Of course anyone who stores in online wallet should be scared but that's mostly newbies that are yet to know the dangers. Once the site is gone, it will now turn to enduring loss.
Why won't they be scared as the token need to be stored in a private wallet and not online wallet what so ever .
Having your private key or passphrase is the best you can use to store your funds as the current situation has taught many in hard way , so you need to be very careful in knowing how to keep your wallet key and where to store them and not just any wallet.
Having your private key or passphrase is the best you can use to store your funds as the current situation has taught many in hard way , so you need to be very careful in knowing how to keep your wallet key and where to store them and not just any wallet.
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