Topic: Why would you choose to keep coins in an "online" wallet? (Read 633 times)
Thanks guys
Why would you choose to keep coins in an "online" wallet?
Just wondered? The thought of keeping coins in an exchange website or online wallet gives me the jitters just thinking about it.
I know PCs are far from secure but surely if something does go wrong, you only then have yourself to blame.
I really feel for those who have been hacked in the past week, comments such as "they must of cracked my password".
How do you know that? The website looking after your coins could have failed it's responsibilities to protect it's user's accounts, plus you pay them fees?
*scratches head*
Maybe I missed the point somewhere here?
Just wondered? The thought of keeping coins in an exchange website or online wallet gives me the jitters just thinking about it.
I know PCs are far from secure but surely if something does go wrong, you only then have yourself to blame.
I really feel for those who have been hacked in the past week, comments such as "they must of cracked my password".
How do you know that? The website looking after your coins could have failed it's responsibilities to protect it's user's accounts, plus you pay them fees?
*scratches head*
Maybe I missed the point somewhere here?
If you're speculating, you don't want to have to wait for transfer confirmations before you can sell your coins. One option is to keep some of your coins in each exchange so if one goes down, you still have access to others. A last resort sort of diversification.
Not everyone has the BW and resources to run a full node
Specially for bitcoin since 70% of the blockchain is satoshidice spam.
Also, online wallets makes it easier to acces your money from everywhere rather than just your personal computer.
Specially for bitcoin since 70% of the blockchain is satoshidice spam.
Also, online wallets makes it easier to acces your money from everywhere rather than just your personal computer.
Bitcoins -> Online Wallets
as
Credit cards -> Cash
(i think)
as
Credit cards -> Cash
(i think)
Why would you choose to keep coins in an "online" wallet?
Just wondered? The thought of keeping coins in an exchange website or online wallet gives me the jitters just thinking about it.
I know PCs are far from secure but surely if something does go wrong, you only then have yourself to blame.
I really feel for those who have been hacked in the past week, comments such as "they must of cracked my password".
How do you know that? The website looking after your coins could have failed it's responsibilities to protect it's user's accounts, plus you pay them fees?
*scratches head*
Maybe I missed the point somewhere here?
Just wondered? The thought of keeping coins in an exchange website or online wallet gives me the jitters just thinking about it.
I know PCs are far from secure but surely if something does go wrong, you only then have yourself to blame.
I really feel for those who have been hacked in the past week, comments such as "they must of cracked my password".
How do you know that? The website looking after your coins could have failed it's responsibilities to protect it's user's accounts, plus you pay them fees?
*scratches head*
Maybe I missed the point somewhere here?
Jump to: