Online Wallet - Site Disappears - page 2.

Chomsy

copper member

Activity: 364

Merit: 1

Most wallets have their own keys. What you need to do is keep it safe. And people often use not just a single wallet, they will use a combination of hot wallets and cold wallets.

I belive the poster was talking about online wallets like sites having their own blockchain and wallet not wallets like Myether, Imtoken and the rest. Online wallet is very risky cos once the site developers decide to pack up, one's assets are gone. It's always advised to be safe and store funds in trusted wallet.

bastian466

sr. member

Activity: 1372

Merit: 251

PredX - AI-Powered Prediction Market

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

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: Sab11 on July 23, 2019, 09:25:39 AM

Quote from: Kongxx on June 09, 2019, 12:28:52 AM

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

Absolutely yes, but its your fault to store your coins in online wallets,we all know its risky better to store your coins in cold wallet, but everything in crypto is risk, if you lose everything dont lose hope just move on and start over again

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You alone is the one who fully responsible with your action, it's not advisable to put your money in the hands of others, you should always take a good research and work with every specific information before digging in, taking such actions is your responsibility, you should always ensure that in anyhow it's always about how you will take the securest way to protect your assets from possible threat around.

chocopapaya

full member

Activity: 686

Merit: 131

Well, it actually depends what kind of online wallet it is.
If the coin is on a smart contract platform like Eos or Eth, then even if their site disappears, your coins aren't lost.
If it is its own blockchain, then chances are your coin isn't lost either.

You see, with crypto and wallets, your coins are never in the "wallet" or on a website or anything.
It is all numbers on the blockchain.
Online wallets are just graphical interfaces created to make it easier to interact with the blockchain.
So if the graphical interface disappears, as long as the blockchain is still functioning, your coins aren't lost.

Sab11

full member

Activity: 524

Merit: 100

io.ezystayz.com

Quote from: Kongxx on June 09, 2019, 12:28:52 AM

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

Absolutely yes, but its your fault to store your coins in online wallets,we all know its risky better to store your coins in cold wallet, but everything in crypto is risk, if you lose everything dont lose hope just move on and start over again

.

rdluffy

legendary

Activity: 2450

Merit: 1472

Quote from: stigmacryptonight on June 09, 2019, 12:32:33 AM

Nothing needs to be feared in crypto, because everything we do must have risks. Because the possibility that happens a little if we save coins in the wallet online and at one time the site will disappear, actually I am not afraid because there is no way that could happen.

So you are not afraid to lose all your coins?
I don't believe in this

It's very risk to keep your coins in online wallets and a hack could happen easily

You should keep your coins with you, with your private keys and keep your PC safe
If you have a lot of money, it's recommended to use a hardware wallet

lhtot8

member

Activity: 147

Merit: 12

Quote from: ?? on ??

Yes I'm scared if I lost everything I hold into it that's why when I'm storing my coins into wallet I always look for the private key so that I can be able to access it anytime in it's supported wallets and also I am the only one responsible for it's security as I have the only access into it by the use of private keys.

Even online wallets provide you private keys, you should know that you are not a single person who have private keys for your online wallets. Sites and owners of those sites own your private keys too. Consequently, what if they are bad guys and plan to steal your money? If they are, they plan, your money will be stolen.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

Not really. If I will be using an online wallet I will make sure that it is safe and reputable site. Some online Altcoin wallets sites usually stores the altcoin as a reward or a project that we do. It means that the tokens or coins there is related to the project, if it disappears, it means that the project is a scam. Well, what will I do to coins or tokens that have no value?

Tomohisa

full member

Activity: 360

Merit: 100

Quote from: Chikito on July 23, 2019, 02:32:21 AM

Quote from: Kongxx on June 09, 2019, 12:28:52 AM

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?

When you want to store online wallet, You have know what kind wallet there, private key and seed it can be use for any wallet, like MEW, when you have private key it can be use for any kind like metamask, cryptostore. it shouldn't scare when your private key can use any kind of wallet when online wallet your stored dissapear.

Very good answer. It not about the online wallet is unsafe at all. You can have many layers of protection to make your online wallet safe and hard to fishing, hack,...

Nezerlan

jr. member

Activity: 214

Merit: 3

I am scared of online wallets. Anything can happen. They are prone to human errors and hacks. Offline storing of crypto assets is still the best way to stay safe.

Alluro

member

Activity: 742

Merit: 19

My personal opinion is don't use online wallets to store your coins. The best one is hardware wallets. If you can't buy a hardware wallet, you can go with desktop wallets. Because we always need to keep our coins safe.

NavI_027

full member

Activity: 1232

Merit: 186

Quote from: Kongxx on June 09, 2019, 12:28:52 AM

[snip]

Scared? Of course I will feel more than that because it is so devastating to lose all of your coin in a glance. It is like feeling broke and helpless at the same time and you don't have any choice but to move on, that sucks Sad

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Quote from: iphmp159 on July 23, 2019, 02:37:42 AM

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.

satgoldan

member

Activity: 602

Merit: 12

Lol Online wallets are a solution to the past. They are very insecure: you can lose your money even because of phishing. Use the solutions of the new generation, use safe wallets!

iphmp159

member

Activity: 118

Merit: 10

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).

Cianix

member

Activity: 420

Merit: 10

Quote from: Kongxx on June 09, 2019, 12:28:52 AM

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

So why store on low sites ?
very often there are scams , and it seems to me there is no need to store your money , it is better to keep on ledger or on cold wallets coins

Chikito

legendary

Activity: 2366

Merit: 2054

Quote from: Kongxx on June 09, 2019, 12:28:52 AM

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?

When you want to store online wallet, You have know what kind wallet there, private key and seed it can be use for any wallet, like MEW, when you have private key it can be use for any kind like metamask, cryptostore. it shouldn't scare when your private key can use any kind of wallet when online wallet your stored dissapear.

Koobtcgal

full member

Activity: 714

Merit: 100

Acewins.io

Quote from: Kongxx on June 09, 2019, 12:28:52 AM

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

Online wallet? It all depends on the type of site. Some sites provide you the private keys so that in case you want to use them on a desktop, it can be possible. If you are afraid of losing your money on an online wallet, then it is better to get a desktop or mobile app wallet which are very handy these day with improved user interface.

jajorforce

full member

Activity: 399

Merit: 100

Any wallet you wouldn't like hold you money. Automatically you will search best wallet to hold your coin. Up to you which online wallet you will Pick.

flemmings02

jr. member

Activity: 182

Merit: 2

Quote from: stigmacryptonight on June 09, 2019, 12:32:33 AM

Nothing needs to be feared in crypto, because everything we do must have risks. Because the possibility that happens a little if we save coins in the wallet online and at one time the site will disappear, actually I am not afraid because there is no way that could happen.

Don't be so sure of any site to keep your funds safe for you, If you need people to help you keep your funds then you should to your native banks, the major reason for blockchain and cryptocurrency is for you to be the sole dictator of your funds.

Pelana vreo

member

Activity: 744

Merit: 10

Syntrum.com

I would be afraid when I have lots of coins in my wallet online, there are always ways to save coins, desktop wallets, and other applications that currently support a lot of coins, and I don't worry too much about always key phrases and passwords in my control. then my crypto asset will not disappear unless you save it on the exchange so you need to be afraid because some exchanges use a hot wallet

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