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Title: Downsides of using web wallets? Post by: TheLordOfTime on June 22, 2013, 09:16:07 PM I am pretty sure I know the answer to this, but what are the specific downsides of using a web wallet over, say, an actual client like bitcoin-qt? I'd rather not have to spin up a bitcoin-qt client on each system I want to use bitcoins with, but if there's any blatant security risks to using a web wallet, I'd like to know about those risks.
Title: Re: Downsides of using web wallets? Post by: Birdy on June 22, 2013, 09:17:48 PM Only the obvious risk of the website/your account being hacked or the owner being a scammer and running away with your coins.
For smaller sums a wallet on blockchain.info is fine, I just wouldn't use it to store all my coins. Title: Re: Downsides of using web wallets? Post by: BitcoinBoss on June 22, 2013, 09:21:23 PM As said, if the site goes down or gets hacked your coins are at risk. I would use blockchain.info for regular transactions but keep savings stored seperately in QT.
Title: Re: Downsides of using web wallets? Post by: TheLordOfTime on June 22, 2013, 09:26:21 PM Okay, so i was writing, and getting a response while writing meant "Time to rewrite" xD
The main wallet I use is for OTC trades on the #bitcoin-otc IRC channel, and that never has lots of coin. It has an extremely fluid balance because I never hold coin there for long. If there's little risk because of the fluidity of the funds, then I'll probably use that on blockchain.info indefinitely. (although since it's a vanity address, I can import the privkey to a bitcoin-qt client at my leisure). But, I want to be able to receive donations on one of my sites, hence wanting access to the wallet from anywhere and not needing a bitcoin-qt or similar client. If it were *your* choice between a web wallet or a bitcoin-qt client running 24/7 for the purposes of receiving bitcoin, which would you choose for the specific case here? ***EDIT: I missed BitcoinBoss's answer when I was writing this. But the open question still remains :) *** Title: Re: Downsides of using web wallets? Post by: Birdy on June 22, 2013, 09:35:05 PM If it were *your* choice between a web wallet or a bitcoin-qt client running 24/7 for the purposes of receiving bitcoin, which would you choose for the specific case here? Ehm...you don't need to have it running to receive coins o,OI would probably use the online-wallet for this. Title: Re: Downsides of using web wallets? Post by: TheLordOfTime on June 22, 2013, 09:37:49 PM If it were *your* choice between a web wallet or a bitcoin-qt client running 24/7 for the purposes of receiving bitcoin, which would you choose for the specific case here? Ehm...you don't need to have it running to receive coins o,OI would probably use the online-wallet for this. I'm tired, forgive my fail at typing. running 24/7 so i can, say, VPN in and get an at-a-glance balance ;) But so far, I'm inclined to agree that i can run thee web wallet for the donations, and then send them off to a qt client or something for safe keeping later. Assuming I get any donations. :P Thanks! |