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Topic: Wallets with providers - page 2. (Read 1599 times)

hero member
Activity: 686
Merit: 500
fb.com/Bitky.shop | Bitcoin Merch!Premium Quality!
June 12, 2015, 01:56:42 PM
#5
well i keep my bitcoin on  computer program therefore im good right?
Its interesting these services work...imagine...coinbase wants to shut down today...how rich they would be Smiley

That's why don't stored your coins on exchanger.
better to use cold wallet(you can save your private key).


~iki
full member
Activity: 167
Merit: 100
June 12, 2015, 01:27:24 PM
#4
well i keep my bitcoin on  computer program therefore im good right?
Its interesting these services work...imagine...coinbase wants to shut down today...how rich they would be Smiley
legendary
Activity: 3248
Merit: 1070
June 12, 2015, 01:16:07 PM
#3
they does offer some kind of insurance, against fraud or other things, like circle does, otherwise it would be pointless to keep your coin on their cold wallet

it's true that the whole point of bitcoin is to have full control of your money, but apparently not many can do this work, right, and they still need a central activity to do their work for them
legendary
Activity: 1344
Merit: 1024
Mine at Jonny's Pool
June 12, 2015, 01:07:50 PM
#2
Im still new to bitcoin services and I have this question...

If I have all my bitcoins at any wallet provider like Xapo, Coinbase etc...web or app...and they for whatever reason shut down. My bitcoins are lost correct?

Thank you
Pretty much, unless you have control over the private keys for those wallets.  This is why you don't want to keep your coin on any online service.
full member
Activity: 167
Merit: 100
June 12, 2015, 12:27:18 PM
#1
Im still new to bitcoin services and I have this question...

If I have all my bitcoins at any wallet provider like Xapo, Coinbase etc...web or app...and they for whatever reason shut down. My bitcoins are lost correct?

Thank you
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