Security of a certain wallet. | Bitcointalksearch.org

LFC_Bitcoin

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

If you don’t have the private key then your coins security are absolutely at risk. Your bitcoin’s can be both stolen or the service closed.

You need to make sure you have your private keys & you are the sole occupier.

Paultron

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I have my bitcoins on a online wallet but its the most used wallet so i think i will be okay. I don't think that hackers could break in my online wallet only if my pc is infected.

Offline wallets is good if you have a lot of bitcoins so you can store them safely.

teejayrichard2

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Online wallet isn't something you should be using to stroke your bitcoin. The posibilty of you loosing it is high. There are other better ways to store your bitcoin safely

henmark

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Quote from: Seansky on September 03, 2017, 05:21:20 PM

Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

If you have been using their service for a long time then dont doubt it that easily but always remember that online wallets that doesn't allow you to control your own private key always has a possibility of closing up their site. If the one you are using is really famous, it wont close in the near future at least so for now it is safe to use. There is always a possibility of bitcoin being stolen on any bitcoin wallet so to sum it up, for now it is good to use your online wallet but consider using others in the future.

I also agree that online securities of certain wallets are not authentic. Because as it is said that the management can anytime Bloch or closed their website, and then the wallet elated to that specific site will never be reached. Then to whom you will complain.

So I suggest keeping all your wallets in your local banks or in your own created cold mine box. So that they never be hacked and blocked by anyone in the world.

Seansky

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

If you have been using their service for a long time then dont doubt it that easily but always remember that online wallets that doesn't allow you to control your own private key always has a possibility of closing up their site. If the one you are using is really famous, it wont close in the near future at least so for now it is safe to use. There is always a possibility of bitcoin being stolen on any bitcoin wallet so to sum it up, for now it is good to use your online wallet but consider using others in the future.

JohnBitCo

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

It's up to you what you trust and don't trust you. Any of these sites could take off any minute with all of your money. If you believe that you are getting information from my group that you trust in your country by all means continue what you doing otherwise keep your money in a software wallet on your computer at home.

Proximity Scan

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

It's totally up to the service you've been using. If it's a system where store your private key or recovery phase, you're always under huge risk. Be careful for that. You have to make sure their system is clear for not storing your private keys.

amacar2

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First you need to share URL of the online wallet you are talking about and than only we can help you out.

In overall any wallet both exchange or online web wallet are not a good place to store your bitcoin because they can be hacked at anytime and you can lost all you have there. Also you will never have full control over your bitcoin in those wallet so if there will be any issue with your wallet you will lost control over it and in case of some legal investigation all of your crypto fund might got frozen by your local authority.

fast2fix

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

i only trust and store my bitcoins on trezor and some on mycelium, you should never store your bitcoins on online wallets or exchange websites as those websites can be hacked.

flippener

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There's always a trade-off between safety/risk and convenience. I used to keep my bitcoin offline in a hardware wallet to keep them safe. Now I'm more greedy and keep them online so I can lend and trade them - I know it's more risky but now my bitcoin grows. You pays your money and takes your choice.

ClvrGmr

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

The chances of your bitcoin be stolen is pretty low based on what you have said because if it is popular in your country that means the compony you are pertaining to has established a good reputation to the community. This lessens the risk of your bitcoin being stolen because the fact that when you, for example, lose your bitcoins there is no one to blame other than that company and since their reputation is important they won't even try to do and stole money from you. So basically the security of your wallet has a high standard and not prone to scams and thiefs.

YuginKadoya

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

There are some safe facts about using a web wallet and in your part it is very popular in your country and you can surely withdraw from it and convert with fiat so I think that is a good think and you can surely keep on using it, and I think there are no 100% perfect program or websites out there, and there are plausible things that hackers can still penetrate them even with that so much firewall or watch guard feature in it, just make sure you would not put all of your income in just a web wallet, because you can surely store your bitcoin in a secure hard wallet if you prefer a 100% secure one!

vroom

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Having coins in a online wallet or in an exchange is dangerous. It can be hacked or the owner of this service can take all the coins and vanish.

I would recommend to store high values on cold wallets, hardware wallets for example. Use hot wallets/online wallets only for small amounts.

stripykitteh

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Quote from: Faith Joy on September 01, 2017, 04:34:02 AM

Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

Tte security of the certain wallet is very good .One of the best bitcoin wallet that I know is the coins.ph.Coins.ph can able your bitcoin grow through making transactions such as buying a load and making transactions.

Don't follow what this guy is trying to tell you because you are likely to lose your coins in the long run.

Online wallets are not safe, if you want the truth then the truth is that you don't have any Bitcoins right now. You can only have Bitcoins if you have them within your computer system, not in an online wallet where someone holds the password and the private key.

It isn't that hard to get a Bitcoin wallet for your desktop, you could use the wallets listed on Bitcoin's website.

Online wallets are dangerous and I suggest that you use something else.

Faith Joy

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Quote from: Gaaara on September 01, 2017, 04:29:50 AM

Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

Tte security of the certain wallet is very good .One of the best bitcoin wallet that I know is the coins.ph.Coins.ph can able your bitcoin grow through making transactions such as buying a load and making transactions.

Gaaara

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Actually I'm little curious if my bitcoin in my wallet I currently use is safe, since we don't have the private key and it is an online wallet I kinda doubt the security of this wallet. The wallet is famous in my country because we can use the wallet to withdraw instantly and convert bitcoin into our standard currency. My question is, is there a possibility that our bitcoin be stolen or the online wallet be close?

Topic: Security of a certain wallet. (Read 434 times)