Stay away from online mobile wallets with no backup phrase

Bitcoin Seller

full member

Activity: 567

Merit: 148

Quote from: ?? on ??

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

full member

Activity: 966

Merit: 111

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

full member

Activity: 756

Merit: 100

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

sr. member

Activity: 1372

Merit: 250

Seabet.io | Crypto-Casino

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

hero member

Activity: 2534

Merit: 586

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

sr. member

Activity: 533

Merit: 250

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

full member

Activity: 1078

Merit: 104

GoMeat - Digitalizing Meat Stores - ICO

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

legendary

Activity: 2156

Merit: 2100

Marketing Campaign Manager |Telegram ID- @LT_Mouse

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

full member

Activity: 925

Merit: 100

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

jr. member

Activity: 707

Merit: 1

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

member

Activity: 106

Merit: 10

★Bitvest.io★ Play Plinko or Invest!

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

full member

Activity: 532

Merit: 100

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

legendary

Activity: 3290

Merit: 1128

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

jr. member

Activity: 93

Merit: 2

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

full member

Activity: 980

Merit: 109

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

full member

Activity: 1750

Merit: 186

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

legendary

Activity: 2576

Merit: 2272

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

full member

Activity: 420

Merit: 101

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

member

Activity: 728

Merit: 12

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

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

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.

BeginToMine

full member

Activity: 434

Merit: 101

https://www.payaccept.net/

This is very good advice especially for newbies who do not know better, when I started this cryptocurrency journey, I was just opening random wallets and didn't even know to back them up, for example my blockchain wallet was opened with my email and password back in the days and I didn't even back it up until like 3yrs after opening the wallet, even if you open a wallet with backup phrase, Endavour to always store your keys very carefully and preferably the old fashioned way of writing it down in multiple places offline and store them in secure locations that you can easily remember.

chriseasan

copper member

Activity: 224

Merit: 0

I would stay away from any software that do not provide a backup security, especially software that is related to crypto currencies. You should always have a private key, a buckup phrase and a password to stay completely safe.

Perfect35

member

Activity: 854

Merit: 10

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.

That is quite unfortunate. Although, i have been in the crypto space for quite some time now and i never knew and cared about this.
Most if the times, we clamour to have mobile wallets, but which sometimes can be used against one.
Some even promise to airdrop and tell you to download their wallets. Out of every 100 persons that download it, 5 of them might be noob and go ahead to store their coins on them.

eternalgloom

legendary

Activity: 1792

Merit: 1283

I just don't use mobile wallets at all, they're a huge security risk IMO.
Mobile platforms are riddled with malware and the security of most mobile wallets leaves a lot to be desired.

Krislaw

sr. member

Activity: 1204

Merit: 388

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.

Mobile wallet are easy developing by everyone to scaming use popularity bitcoin, I saw on playstore has alot of mobile wallet 'shit wallet' and use Bitcoin as key search on playstore. You have to go https://bitcoin.org/en/choose-your-wallet and choose one there for mobile wallet

sukoyomi

full member

Activity: 948

Merit: 110

It turned out that my guess was right, I had always avoided various mobile wallets. But if there's no backup phrase, at least choose the one that give control to private key for each address that we have, like what blockchain wallet doing. I'm still new using it, and I just use it to get XLM airdrop before and then I remove it.

masterrex

full member

Activity: 1820

Merit: 107

Disgusting you name it Xapo wallet Im already downloaded it. until now still here in my phone. But thanks i never use it anyway. Backup phrase is very important including the exporting function. if xapo doesnt have these features will its outdated already. But i think there is some loyal users still using it. because Xapo was already exist before i join in the crypto-space. just look around there is too many wallets already exist with cool tech features.

phanphanphuyen

member

Activity: 106

Merit: 10

★Bitvest.io★ Play Plinko or Invest!

Staying away fom any kinds of wallet, provide by any sort of wallet providers, no matter what which types of coins (bitcoin, or whatever) if you can not have full control of your private keys or seeds. Because, without such keys/ seeds, you might lose all money when those sites/ providers make scam exits. It's not too hard to choose which wallets to use, and learn how to backup/ recover wallets from keys/ seeds.

Delilonia1

member

Activity: 463

Merit: 11

It is important that cryptonaires should be aware of things like this so they dont end up in loses. You can imagine that someone was denied his coins all the way from 2018 and up till now, he still cannot have it.

The role of users having private keys cannot be over emphasized when it comes to their online wallets

Ken_terrance

member

Activity: 574

Merit: 18

Making Smart Money Work

Yes their are some wallets on mobile that has no backup and when something get wrong with the company its goodbye to all your coins in the wallet ,xapo wallet is a good example indeed

TravelMug

hero member

Activity: 2632

Merit: 833

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.

I agree, this is an eye opener specially for a lot of newbies who are going to join. Check first if the wallet that you are going to used as mobile apps has some back up phrase or private keys.

Never tried XAPO though, or even blockchain wallet. I only used Electrum and keep by seed and private key safe in case I needed to recover it.

khiholangkang

hero member

Activity: 2142

Merit: 594

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.

Everything has advantages and disadvantages, each of which I think, those who do not have a private key / pharse backup you can contact support to restore your account

And what you hold a private key / backup pharse usually doesn't have support services, so if you lose your private key your money just goes away

Quote

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

I used XAPO when I was released and never encountered any problems, make sure you provide the correct data so that they can easily help you

Nimicrypto

newbie

Activity: 9

Merit: 0

Don't lose your stuff if u don't have backup... Grin

.

Sacramentus

jr. member

Activity: 448

Merit: 2

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.

I don't expect anyone to still try to use a mobile wallet with no backup key or phrase at this era. That's an old-fashioned way of making a mistake in blockchain. It's at a very high risk using those kinda wallet to store your funds

LuckyBtc

legendary

Activity: 1288

Merit: 1012

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.

I used to use those "online wallet" when I was a beginner. Now I only use hardware wallet, It provides absolute security! Online wallet are best for storing small funds to use it for spending.

Greatchu

member

Activity: 490

Merit: 10

Xapo is a scam wallet ,I used to hunt for faucet in early 2016 and I've gathered lots of bitcoin but one day i was unable to sign in my wallet and withdraw ,I tried to contact the team and they never reply me

rhodelmabanal

full member

Activity: 1140

Merit: 103

Buzz App - Spin wheel, farm rewards

Quote from: ?? on ??

Hardwallets is very recommended to use here in crypto with future like don't use others wallet still some of this are trusted already example Electrum,Blockchain and Coinomi then your correct about with username and password only like don't use this kind of wallet then activate 2fa always for much more security and don't create wallet account similar to it's yahoomail

Stand alone wallets installed on pc is highly recommended, they're equipped with back up phrase options. Like those mentioned wallets, there's no problem with it and back up phrase is one of the strongest way to make your funds more secure. Once you had save it for confidentiality, you won't be failed and will successfully access your funds smoothly.

chanler

member

Activity: 753

Merit: 15

mulierum.com

Sorry to hear your bad experience about using the online mobile wallets, do you have any proof to make them sure about your asset on the mobile wallets?
Personally, I also always choose the online wallet (not mobile) that has the backup of the password, Google authentication, Gmail authentification, or private keys. It may not be highly safer, however, at least, we have several ways to back up the data and portfolio. Moreover, it will be better enough if we use the offline wallet, hardware wallet will be highly recommended.

bitsurfer2014

hero member

Activity: 924

Merit: 520

I guess we should find excellent mobile wallets that fits according to our preferences and needs and degree of comfortability. In my case, mobile wallet like coins.ph which I've been using from the start don't have backup phrase but they require various levels of KYC to assert account validity and authenticity. Also, their services were excellent and has a very good support system that I have not had any problems with them ever since.

rodel caling

full member

Activity: 952

Merit: 104

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.

Most probably your correct choose mobile wallet with have back keys to avoid losing of coins investment, I also using local mobile wallet herein my place where I resides two local wallet have choices both are have strong back keys but i choose the one very popular use by the people.

LbtalkL

full member

Activity: 1176

Merit: 162

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.

vladimirhf

member

Activity: 590

Merit: 39

I would not recommend any mobile app as your main wallet. use only if you need a little to spend, as a secondary wallet.

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

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.

Ucy

sr. member

Activity: 2632

Merit: 403

Bisq is a Bitcoin Fiat Dex. Use responsibly

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

VanDeinsberg12

hero member

Activity: 1540

Merit: 507

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.

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.

Barracuda

full member

Activity: 514

Merit: 100

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.

joseyphil82

member

Activity: 742

Merit: 16

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.

Topic: Stay away from online mobile wallets with no backup phrase (Read 670 times)