Topic: Stay away from online mobile wallets with no backup phrase - page 3. (Read 690 times)
Good advice I agree, But In my country we only have 1 wallet that can withdraw to fiat we dont have any option, no backup phrase or private keys provided but I only use it as medium not for HODL.
I would not recommend any mobile app as your main wallet. use only if you need a little to spend, as a secondary wallet.
One of the attributes of blockchain is decentralization and this comes with users being in charge thus the need for private keys. So any wallet without private keys or backup phrase shows that the developers can have access to such wallets, thus not good to be involved with. Sorry for your loss, I hope others will learn and make good decisions.
Totally agree. Unfortunately many mobile wallet users are not aware of this differences. I guess cryptocurrency won't be used properly by those who are not really interested in its important features. Sometimes I wonder if informing them about the feature will bore or scare them away from crypto. Most people just need something easy and convenient
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.
XAPO was not let the users to take or export their privatekey address and that's a scam wallet. For me to use offline wallet which make you able to get your privatekey is more than good but it's the best way. XAPO was a scam wallet. but this time so many wallets creating the export feature. 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.
Backup keys are one of the most important things for wallets online now. Because this relates to your assets, of course, do not just use online wallet. Because, now there are indeed many who appear to offer online wallets. Of course, if you want to use it you need to know the security of the wallet so you don't experience things like @OP.
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.
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.
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