Online wallets are really handy, it's like your leather wallet in your pocket in real life. You use it for everyday spendings, you don't put your life savings into it and you have only a little money in it. Why? Because it's not safe, you can lose it, pickpocketers would take it, etc... This is online wallet in the Bitcoin ecosystem.
In real life, you put your life savings into a safe or trezor because it's safe. It's not really convinient to use, you can't take it with you and you have to remember the pin or have the key to open it. But, it's safe and you can trust it that it will save your funds. This is offline or hardware wallet in the BTC world.
If you have just a little amount invested in bitcoin, you can use online wallet. As soon as you read enough, you'll understand the difference and will use offline / hardware wallet as well.
Topic: What are the owners of BITCOIN Wallet online ??? (Read 191 times)
Online wallets have the benefit of being very convenient, since all you need is an account. However, the security is pretty weak, and it typically involves at least some trust in a third party. Sometimes this even involves the service having access to your private keys.
Some of the better online wallets offer 2-of-3 multisignature wallets or access to your private keys, but even then you have to trust the wallet when it comes to privacy, because they could have access to the details of the transactions you send and use blockchain analysis if required by law enforcement.
Some online wallets even have to comply with law enforcement on such trivial matters as BTC gambling (Coinbase).
Some of the better online wallets offer 2-of-3 multisignature wallets or access to your private keys, but even then you have to trust the wallet when it comes to privacy, because they could have access to the details of the transactions you send and use blockchain analysis if required by law enforcement.
Some online wallets even have to comply with law enforcement on such trivial matters as BTC gambling (Coinbase).
Hello.
I would like to know what lives BITCOIN Wallet online ??
I plan to set up a BTC Wallet but I would like to know what are the benefits ??
Thank you
I would like to know what lives BITCOIN Wallet online ??
I plan to set up a BTC Wallet but I would like to know what are the benefits ??
Thank you
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