Worst Online Crypto Wallet Ever! [Poll]

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: bL4nkcode on June 16, 2019, 12:21:24 PM

Popular wallets that you cannot fully control your funds and are at risk, well, except for blockchain.com and not sure for wallet.btc.com, never used them yet.

Blockchain.com wallet let you fully control your funds, as you have the private keys.
The problem is that as it is hosted in a server, other people may also be controlling them...

bL4nkcode

copper member

Activity: 2142

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Limited in number. Limitless in potential.

Quote from: imstillthebest on June 16, 2019, 07:57:27 AM

im surprised to see that most of the list on your poll are mainly popular wallets , not just popular but they are also good wallets . though there are controversy that recently explode about the coinbase wallet .

Popular wallets that you cannot fully control your funds and are at risk, well, except for blockchain.com and not sure for wallet.btc.com, never used them yet.

imstillthebest

full member

Activity: 1638

Merit: 122

im surprised to see that most of the list on your poll are mainly popular wallets , not just popular but they are also good wallets . though there are controversy that recently explode about the coinbase wallet .

people claims that coinabase wallet are now becoming bad . idk if thats true because i dont use my coinbase account anymore but the rest of the wallet is i think not worst . blockchain.com is my favorite above all

saty1

newbie

Activity: 6

Merit: 1

I have not been able to remove my coins from my BTC.com wallet since the 18th of May 2019. I have tried customer support repeatedly and can not get a response except from a bot. I have used their services successfully in the past so I haven't been scammed except by Bitmain. I can't believe I am alone in this?

felicita

legendary

Activity: 1582

Merit: 1031

i voted for xapo.com be course i made bad experience with there fees.
They taking fees for incoming transactions.

regards

TryNinja

legendary

Activity: 2758

Merit: 6830

Quote from: Patatas on May 31, 2019, 04:32:30 PM

2. LBC exchange as a wallet is more secure than Blockchain.com/Xapo/Coinbase combined. I wish LBC actually creates an online wallet service to take over these terrible services.

How so? LBL owns every single private-key on their exchange. At least Blockchain.com claims to store everything encrypted and only decrypt locally on the user's end. You also have your wallet seed which you can use to restore the wallet with Electrum or any other supported wallet. If LBL freezes your account (due to KYC), your coins are stuck in there and there is nothing you can do.

pooya87

legendary

Activity: 3472

Merit: 10611

i think your terminology needs a little bit of improvement.
first of all it is best to call these "web wallets" instead of "online wallets" because an online wallet can refer to a hot wallet on your desktop that is connected to the internet (is online) but a web wallet is a wallet on the web!
additionally Coinbase and XAPO (in my opinion) should not even be categorized as a wallet because they are accounts since they control your private keys and your money and only give you an account in their database. i am not familiar with Freewallet and btc.com wallet.

so my choice is blockchain.com first because it is a web wallet not a web account so it can answer your question and second because of all the bugs it had in the past and it still has including bugs with their fee estimation down to security bugs such as usage of a bad random engine that has led to fund losses.

DoublerHunter

hero member

Activity: 2590

Merit: 644

I voted here Coinbase.
They had a poor system and lack of support team to fix the customer issues. Sometimes their support gave canned responses irrelevant to my case as what I have complaining and contradicted their own statements on their website. That was very annoying to me as a customer of them.

Patatas

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Quote from: jvdp on May 29, 2019, 01:10:08 PM

LBC also has the 2FA but high fees to deposit your fund as well.

1. LBC never claimed to be a bitcoin wallet. They're way better than that.
2. LBC exchange as a wallet is more secure than Blockchain.com/Xapo/Coinbase combined. I wish LBC actually creates an online wallet service to take over these terrible services.

jvdp

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Quote from: figmentofmyass on May 29, 2019, 12:35:50 AM

Quote from: Bitcoin_Arena on May 27, 2019, 05:35:40 PM

Quote from: figmentofmyass on May 27, 2019, 12:06:43 PM

Quote from: LTU_btc on May 26, 2019, 05:10:52 PM

I voted for Xapo without any doubts. It's just terrible. First, they have fees for incoming small transactions, what is ridiculous.

localbitcoins does this as well. tbh, i suppose it makes some sense as a hosted wallet provider. users probably inundate their wallet with small unspendable outputs and they need additional fees to sweep these outputs in order to let customers spend them.

Quite understandable for Localbitcoin's case but this shouldn't be happening for a wallet

aren't they in the same exact position? both xapo and localbitcoins offer a hosted wallet service where customers don't control their own private keys. so both have to deal with the problem of customers depositing dust---they have to spend lots of fees to sweep it.

any third party wallet/exchange will have this problem. they either need to charge customers for small deposits or they need to charge higher withdrawal fees to cover the expense.

LBC also has the 2FA but high fees to deposit your fund as well.

They must show the control on private key but they were adding up the many security law enforcement and upgrade their privacy policies.

Those needs to change before the customer service problems also needs to change it.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: Bitcoin_Arena on May 27, 2019, 05:35:40 PM

Quote from: figmentofmyass on May 27, 2019, 12:06:43 PM

Quote from: LTU_btc on May 26, 2019, 05:10:52 PM

I voted for Xapo without any doubts. It's just terrible. First, they have fees for incoming small transactions, what is ridiculous.

localbitcoins does this as well. tbh, i suppose it makes some sense as a hosted wallet provider. users probably inundate their wallet with small unspendable outputs and they need additional fees to sweep these outputs in order to let customers spend them.

Quite understandable for Localbitcoin's case but this shouldn't be happening for a wallet

aren't they in the same exact position? both xapo and localbitcoins offer a hosted wallet service where customers don't control their own private keys. so both have to deal with the problem of customers depositing dust---they have to spend lots of fees to sweep it.

any third party wallet/exchange will have this problem. they either need to charge customers for small deposits or they need to charge higher withdrawal fees to cover the expense.

Potato Chips

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yesssir! 🫡

Quote from: Bitcoin_Arena on May 27, 2019, 05:35:40 PM

Quote from: figmentofmyass on May 27, 2019, 12:06:43 PM

Quote from: LTU_btc on May 26, 2019, 05:10:52 PM

I voted for Xapo without any doubts. It's just terrible. First, they have fees for incoming small transactions, what is ridiculous.

localbitcoins does this as well. tbh, i suppose it makes some sense as a hosted wallet provider. users probably inundate their wallet with small unspendable outputs and they need additional fees to sweep these outputs in order to let customers spend them.

Quite understandable for Localbitcoin's case but this shouldn't be happening for a wallet

Not really, xapo is more than just a wallet, it is a hosted one and is essentially a business-- it needs to profit.

What I hate about xapo is how they work like exchanges with all the blocking, extreme kyc and most of all, the terrible support. Wait until the peak times arrived when there's a shit ton of clients using them, you'll see the worst side of all the wallets listed here, if not all, most.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: figmentofmyass on May 25, 2019, 11:26:14 AM

i'm not sure when but apparently they added a separate option for advanced users to customize fees but i don't think most people know about or use it

Pretty convenient for blockchain.com to make it look like a high mountain to climb for noobs. It doesn't require much coding work to pop up a slider where people can choose a fee based on what they consider a fair price for their priority. As if 'advanced' users use blockchain.com, lol. They use clients such as Electrum or GreenWallet. Not this garbage.

The good thing about blockchain.com not supporting Segwit is that it will end up empty due to the increasing legacy fees, because people will then be forced to use other services or wallets. The problem will solve itself with time.

magneto

hero member

Activity: 1666

Merit: 753

I would honestly be avoiding all of them for high amounts. It's simply not secure enough to store any large amount with a hosted wallet.

If I had to choose a service that is the worst, it is probably Coinbase.

In the past they've demonstrated the tendency of pursuing new features to attract new customers, as opposed to fixing things that were broken already that needed to be addressed (i.e., their support system). Furthermore, they've demonstrated a tendency of suspending customer accounts that have anything to do with tainted coins from gambling sites, etc., even if there is no tangible association.

But again, I wouldn't use them, even the ones that let you hold your private keys like blockchain.com. The process of exporting has becoming so tedious that it's not worth your time.

Bitcoin_Arena

copper member

Activity: 2128

Merit: 1814

฿itcoin for all, All for ฿itcoin.

Voted Xapo, if there was away, i would vote all of them Grin

All are totally annoying but xapo was most annoying because of the incoming fee part

Quote from: figmentofmyass on May 27, 2019, 12:06:43 PM

Quote from: LTU_btc on May 26, 2019, 05:10:52 PM

I voted for Xapo without any doubts. It's just terrible. First, they have fees for incoming small transactions, what is ridiculous.

localbitcoins does this as well. tbh, i suppose it makes some sense as a hosted wallet provider. users probably inundate their wallet with small unspendable outputs and they need additional fees to sweep these outputs in order to let customers spend them.

Quite understandable for Localbitcoin's case but this shouldn't be happening for a wallet

LTU_btc

legendary

Activity: 3262

Merit: 1376

Slava Ukraini!

Quote from: figmentofmyass on May 27, 2019, 12:06:43 PM

Quote from: LTU_btc on May 26, 2019, 05:10:52 PM

I voted for Xapo without any doubts. It's just terrible. First, they have fees for incoming small transactions, what is ridiculous.

localbitcoins does this as well. tbh, i suppose it makes some sense as a hosted wallet provider. users probably inundate their wallet with small unspendable outputs and they need additional fees to sweep these outputs in order to let customers spend them.

You're right about it. In past lot of faucet users used Xapo wallet. Usually faucet users receive lot of small transactions and it's not good thing. Back in 2017, when Bitcoin transaction fees become huge and there was network congestion Xapo implemented fees for incoming small transactions because such small transaction wasn't beneficial for their service.
Now I just remembered that in past Xapo, same like Coinbase had no transaction fees for their users, they covered it from their own pocket. This policy helped them to attract huge number of users.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: LTU_btc on May 26, 2019, 05:10:52 PM

I voted for Xapo without any doubts. It's just terrible. First, they have fees for incoming small transactions, what is ridiculous.

localbitcoins does this as well. tbh, i suppose it makes some sense as a hosted wallet provider. users probably inundate their wallet with small unspendable outputs and they need additional fees to sweep these outputs in order to let customers spend them.

the alternative is to do what most exchanges do---charge very high withdrawal fees that are orders of magnitude higher than what you would normally pay in your own wallet.

it's the fault of people using third party services to deposit lots of small outputs and dust. the services have to pay the associated fee costs and recover them somehow. if a hosted wallet isn't charging for this, then they are subsidizing the cost another way.

LTU_btc

legendary

Activity: 3262

Merit: 1376

Slava Ukraini!

I voted for Xapo without any doubts. It's just terrible. First, they have fees for incoming small transactions, what is ridiculous. Second, their transactions fees is really big and if you want to send big priority transaction you have to overpay a lot. Third, it's impossible to login here without using mobile app. I'm not even talking that they are randomly blocking users accounts. And cherry on the top - you don't have control of your crypto here.
Blockchain.com in my opinion is really good as web wallet in my opinion, I don't have bad things to say about it. Oh, guy above reminded SegWit, but it's tiny issue comparing with other wallets.
Freewallet.org - I haven't used this wallet, but I heard mixed opinions about here. But from what I saw at least their supporting is active here.
Btc.com is neither a good wallet, neither very bad one.
Coinbase - I'm not sure that they should be considered as wallet at all. As wallet it's bad obviously, as exchange - there are many worse options in the market.

Little Mouse

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Marketing Campaign Manager |Telegram ID- @LT_Mouse

I have only used coinbase and the experience isn't too bad other than facing 2 issues which was resolved by the support team. Although support was a but lengthy, took mire than 60 hours probably.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: bitmover on May 24, 2019, 06:01:56 AM

Quote from: 1Referee on May 24, 2019, 02:42:54 AM

Blockchain.com is actually shitty. It might be an initial landing site for newbies, but they due to there not being Segwit, have to pay much higher fees. Newbies will of course not understand that they haven't upgraded to Segwit, but they will be confronted with much higher fees, and they will feel that in their wallet for sure. Not what I consider user friendly.

That's correct, I had forgot about segwit.

I believe that even a bigger problem is their fee system. They do not allow you to control the exact fee you want to pay (at least about 2 years ago when I used their system), and they suggest a very high fee.

yeah, segwit makes a slight difference but the biggest problem is horrible fee estimation. same as copay, they offer users fee rates by level of urgency, but all the rates are way too high. there's no option to send with only a few sat/byte.

i'm not sure when but apparently they added a separate option for advanced users to customize fees but i don't think most people know about or use it: https://support.blockchain.com/hc/en-us/articles/209283686-Sending-Bitcoin

Topic: Worst Online Crypto Wallet Ever! [Poll] (Read 666 times)