Stay away from online mobile wallets with no backup phrase

Bitcoin Seller

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Yes being stay away from online wallets i dont believe in any online wallets which are nt secure one in any form i believe in only hardware wallets

Actually, all mobile wallets are not secure at all. I do not think that a person, even who uses this Android very often will be ready to risk his cryptocurrencies and start dealing with it.

Hardware wallets are safer. They use special chips that protect wallets. Trezor is known as one of the best hardware wallets. Ledger Nano S is also cool, and I think it is worth spending on it some money to protect crypto.

rachman mahesa

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Quote from: flagpara on July 14, 2019, 04:48:49 AM

Best online software wallet has 12 phrase words or strong private key. Some wallet is secure and used only mail and two step verification on.

Because it is concerned with the security of our assets. What do you think is the safest using the method? Does it use 12 word phrase or only using email + 2FA? Because I used an online wallet with 2 different methods. I am confused whether this is safe, but until now there are no problems at all regarding the online wallet

flagpara

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Best online software wallet has 12 phrase words or strong private key. Some wallet is secure and used only mail and two step verification on.

GatotKaca

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Quote from: joseyphil82 on July 10, 2019, 02:39:31 AM

Not all mobile wallets have backup ,just because they are available for your smartphone doesnt mean they are reliable
Do not use mobile wallets with just username and passwords ,they are called online wallets ,they have no backup phrase or private keys.
For example I lost my bitcoin to xapo wallet since 2018 and they denied me of my coins after sending them mails.

wow it is unfortunate that what you experience is sure to make you frustrated, condolence. You have provided a very interesting and valuable experience. You have provided important information for those who do not know or who are still using an online cellphone wallet. I personally have never used an online cellphone wallet and don't recommend it because I know it's not good to use.

jostorres

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Quote from: irixo10 on July 13, 2019, 04:03:14 AM

A word is enough for the wise and you have taken time to state it out, it is now left for those participating in such to stop. How can a wallet seeks us to store our assets without finding it worthwhile to embed backup phrase and we will use? This shows something is not right and caution should be applied. This is blockchain where decentralization reigns supreme, if there is no backup phrase then no need to use such wallet.

I guess that people using online wallets without backup phrase are novice or probably they just lack the knowledge of it, because no one will in his clear eyes store coin in a wallet without a backup phrase in this critical industry where we have lots of scammers, I wonder why some of these wallets too are implementing this type of technology without backup phrase plan if they are really serious and does not also have the plans of defrauding their users in future.

There are so many reliable wallets in the market that has backup phrase and can be used without stress or fear, I think what I would just do is to make a list of the ones I can guarantee and probably post it for them to see if we don’t have someone that has done it yet.

uniquark

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Quote from: joseyphil82 on July 10, 2019, 02:39:31 AM

Not all mobile wallets have backup ,just because they are available for your smartphone doesnt mean they are reliable
Do not use mobile wallets with just username and passwords ,they are called online wallets ,they have no backup phrase or private keys.
For example I lost my bitcoin to xapo wallet since 2018 and they denied me of my coins after sending them mails.

If you use imToken, they have both of these features, after logging in with username and password. They will suggest you save the phrase to avoid losing your wallet. I suggest you switch to using it

irixo10

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A word is enough for the wise and you have taken time to state it out, it is now left for those participating in such to stop. How can a wallet seeks us to store our assets without finding it worthwhile to embed backup phrase and we will use? This shows something is not right and caution should be applied. This is blockchain where decentralization reigns supreme, if there is no backup phrase then no need to use such wallet.

Little Mouse

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For bitcoin, it's better to use Electrum mobile version which has its seed key. On the other hand, other android wallet for their own project like VenaPi which I'm using has also their private key.
Online wallet should be ignored, even coinbase and blockchain as well.

rdewilde

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Thanks for bringing this up and sincerely hope those who are making this mistake will learn from it. Any wallet without backup phrase strictly shows the wallet is in control by the developers and that is the truth. Backup phrase gives the users of that wallet the power to determine what happens within that wallet so what happens if there is none? The user remains powerless.
There are many trusted wallets out there, for every coin let's get the good wallet from the developers of that coin and not the ones we think is right thereby installing them.

Flezy

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Backup phrase is like a key we use to secure our wallets thus making it ultimately ours and that is to say, if there is no backup phrase then we have no control over the said wallet. All those online wallets without this backup phrase is not trustworthy and there is no doubt about it, therefore the developers of that wallet can manipulate to get what they want. Let's be mindful of this important things.

phanphanphuyen

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Using online wallet mostly means that users accept risks of losing their money, because they don't have full control of their wallets and private keys. In bad cases, when online wallet providers don't have good protection mechanism and /or have bad intention to steal money from their users, those users will lose their money stored in online wallets.

axel2078

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Any wallet without backup words or phrases have something fishy going on; that is to say the developers can access users funds or rather users have no control over there funds. Like you rightly said, making it available for your smartphone doesn't mean it's right to be used. We should learn of how to protect ourselves from all these unnecessary risks.

sana54210

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Quote from: joseyphil82 on July 10, 2019, 02:39:31 AM

Not all mobile wallets have backup ,just because they are available for your smartphone doesnt mean they are reliable
Do not use mobile wallets with just username and passwords ,they are called online wallets ,they have no backup phrase or private keys.
For example I lost my bitcoin to xapo wallet since 2018 and they denied me of my coins after sending them mails.

Sorry about that, it is really risky to entrust our coin into a wallet that does not have backup phrase to recover account at any time, and there is nothing that the company you lost your coin to would have done to proof you are the rightful owner of the coin, if you cannot remember your password or your log in details.

I use exodus wallet, it is a desktop wallet though and I don’t think I have had any regret ever using this wallet, I have forgotten my password several times, but with the help of the my backup phrase, I was able to recover my wallet back, and I think people can check this EXODUS WALLET out, they really have nice features too, and you can exchange and swap some of your coins directly. Another great wallet that does not give any issue is the hard wallet, very reliable and cannot be hacked.

EidooTeam

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Why don't you guys come and try https://eidoo.io/desktop-download? Wink

We are an HD(Hierarchical Deterministic) wallet with a 12-word backup seed from which you can extract your private key at any time. We do not store your password or your back-up seed, and your assets are stored on the blockchain, so as long as you have you back-up words you can install the wallet anytime and on any device.
We also have a Hybrid Exchange, the possibility to buy Crypto with Wire Transfer and Credit card and #Swipe2swap.

ivaf

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I honestly do not trust mobile wallets at all. I use them only in extreme cases for any "through" transactions (that is, I received it and sent it right away), or if there is no access to a full-fledged desktop or hardware wallet.

jerry0

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What wallets would that be?

Don't most wallets have a backup phrase? I do know one that does not but how many are there?

Coin-1

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Quote from: joseyphil82 on July 10, 2019, 02:39:31 AM

Do not use mobile wallets with just username and passwords ,they are called online wallets ,they have no backup phrase or private keys.

Exactly. Moreover, most of these online wallets are scams that appropriate your coins when you try to withdraw funds from your balance.

It should be noted that the smartphone is not a trusted device in general, but for Ethereum you can download from Google Play and install, for example, Cipher Browser, Toshi, Trust Wallet. These applications are safe and securely store the backup phrase or private keys in the Android's DATA folder. They also support iOS.

bitc0000

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You have said the truth the way it is. Most people are to understand everything about blockchain and the reason why private keys or backup phrase is very important, as it is these keys or phrases that gives the user of that wallet the power to do whatsoever he wants while maintaining his privacy at all times. So any wallet no matter the developer without private keys or backup phrase should be kept at a distance as it is not worthy to be used because the developers can access the user's funds.

carrigan

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Totally I have similar thought with you. Security of the online wallet must be important and we must have the secure backup, at least two ways authentication in order to avoid some bad things happen. So sad to hear what you experienced. However, so far, an online wallet is actually risky. But of course, it sometimes becomes the only choice and we must use it. Activate the other secure authentication to enter your online wallet and ensure that you can keep and secure the ways.

tabas

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Quote from: joseyphil82 on July 10, 2019, 02:39:31 AM

For example I lost my bitcoin to xapo wallet since 2018 and they denied me of my coins after sending them mails.

Sorry about your loss with xapo, I've used them before but didn't deposit that much. Your reminder about not using online wallets is actually true, there are newbies these days that prefer to use such wallets because they think it's reliable and they are strong in security but the reality is they are not. If something turns badly, you'll be left behind together with your coins and you don't have a way to claim it.

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