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Has anyone noticed or could explain how does Wirex calculate the blockchain fee for outgoing transfers? Couldn’t find the information on Wirex website, just links to bitcoin wiki and information there doesn’t exlpain the whole situation.
The thing is that I made a few deposits to test functionality before making a high amount deposit to my Wirex account. Everything seems fine but creating an outgoing transaction, now I see a huge blockchain fee which is in times higher than it was before. It seems that with every deposit I make the blockchain fee for outgoing transfer grew higher and higher. Now I’m not sure what would be the fee if I make another bunch of deposits and than decide to make an outgoing transfer to another bitcoin address. Would that fee continue to raise with every new deposit?
I hope that’s some misunderstanding and someone could explain what’s going on with that fee, otherwise such service is totally unusable, at least as a usual bitcoin wallet.
Helo. If you want more information about Wirex Exchange rate, please visit our help website: https://help.wirexapp.com/hc/en-us/articles/115002983509If you have anymore questions, please let us know. Thanks for the link with the information about Wirex Exchange rate, that was my second and yet unasked question. But my first question was quite different and about another fee. I've ment not exchange rate or fees which are apllied when I load or unload a card. I'm interested in a blockchain fee which is applied when I make an outgoing transfer wrom my Wirex account to another non-Wirex bitcoin wallet. For example, I have some funds on my balance and making an outgoing transfer to another bitcoin wallet I see that for that transfer will be applied blockchain fee, let's say, 0.0001 BTC. After I make a deposit, that fee becomes in times higher, let's say, 0.0002 BTC. And it seems that the situation with that fee raising repeats with every new deposit. The more deposits I make, the higher becomes the blockchain fee for outgoing transfer to another bitcoin wallet. So my question was mainly about how is that fee calculated and if it will continue to raise with every new deposit. |
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Has anyone noticed or could explain how does Wirex calculate the blockchain fee for outgoing transfers? Couldn’t find the information on Wirex website, just links to bitcoin wiki and information there doesn’t exlpain the whole situation.
The thing is that I made a few deposits to test functionality before making a high amount deposit to my Wirex account. Everything seems fine but creating an outgoing transaction, now I see a huge blockchain fee which is in times higher than it was before. It seems that with every deposit I make the blockchain fee for outgoing transfer grew higher and higher. Now I’m not sure what would be the fee if I make another bunch of deposits and than decide to make an outgoing transfer to another bitcoin address. Would that fee continue to raise with every new deposit?
I hope that’s some misunderstanding and someone could explain what’s going on with that fee, otherwise such service is totally unusable, at least as a usual bitcoin wallet.
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If I were to use an online wallet for whatever reason, the main aspect that I will be looking into is the reputation of the company. Followed by the security of the online wallet. The reputation come first because new online wallet can easily shut-down even with the best security - they 'said' they offer.
May I ask you what do exactly mean by reputation and what is the most important regarding the company reputation? Something like how long are they on the market and if they have ever been compromised or hacked? Or maybe if they have some kind of licenses like Coinbase? User feedbacks? Or probably all at once |
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Thanks for the link on the topic. Many useful information at one place |
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For storing majority of your btc, it's still recommended to use a desktop wallet like electrum,core. You could just send enough to a web wallet for spending,payments,etc.(small amount) Blockchain.info and Coinbase are okay but they don't have bitcoin card. Xapo offers bitcoin cards but they usually require verification. Check out Cryptopay, they have multi-sig wallets as well as Bitcoin Cards, with/without verification. (You could try out their card, I think they still have a giveaway https://bitcointalk.org/index.php?topic=1384807.0 ) Thanks for the link. I've looked through the topic and visited their website. Their wallet and bitcoin card with ability not to disclose personal details looks like an tempting offer among online wallets. But there is one interesting thing I've noticed on their website. They say they somehow use BitGo to provide their security. I've googled BitGo and it appeard that they provided security to Bitfinex which was hacked recently. It seems that it still not clear whether BitGo or Bitfinex was guilty or maybe both, at least I couldn't find such information. That's quite disturbing information about Cryptopay in my opinion, don't you think so? |
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Security wise Coinbase is very good for web wallet, but if you are going to use in gambling then better dont use it as they will ban your account if found using gambling without any warning. And even your personal details and transaction are also not secure because if any legal authored person ask your detail they will disclose it.
So it is better to use desktop or hardware wallet for any purpose with fully security
Which one among desktop wallets and hardware ones is better on your opinion? |
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Yes, indeed. are you referred for this? https://www.coinbase.com/legal/licensesActually, about using the legal licensed are published by the legal institution it means in the real this service are already got any recognition be them. and this is will giving more for the users. It's mean the official institution are giving the another guarantee for the users of coinbase are having the unresolved problem and that's so helpfully. Like this one If you have a complaint, first contact the consumer assistance division of Coinbase at support@coinbase.com or (800) 343-5845. If you still have an unresolved complaint regarding the company's money transmission or currency exchange activity, please direct your complaint to: Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705, 1-877-276-5554 (toll free), www.dob.texas.gov. Yes I mean that page with the list of licenses on their web site. Having read some topics here I've come to conclusion that most of the members don't take that licenses as something really important which could affect on wallet security and which each wallet definitely must have. Yet another interesting question is whether such type of U.S license could help somehow settle issues of those users who don't live in the U.S., European users like me for example. |
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First of all congratulations on asking such answer. For me, I have said it other times in this very section of the forum, it's not worth at all having a web wallet nowadays. It's worthless as desktop wallets have their same functionalities but better security. If you are thinking to use some web wallet on the go with your mobile, you can never go wrong with Mycellium which is the same as is a desktop wallet for PC, but this is for your mobile.
Reasons why having a web wallet is never recommended.
1. One and foremost is that you are relying on someone else, third party to keep the coins for you which is against the core philosophy of bitcoin (bitcoin should be your own bank and only for you to manage)
2. You need to access a website which cannot be always online and if you are a gambler, trader you can lose a lot from this (desktop wallets such as electrum has tons of servers and never let you down in this case)
3. Many of these online wallets block your account whenever they feel like it, XAPO, COINBASE, are the most known in this area.
I think these are reasons enough why to never store your coins in a web wallet but the final choice is yours.
Thanks for the detailed answer. One of the reasons I'm interested in online wallets like Xapo, Coinbase you've mentioned and other (Spectrocoin, Cryptopay, Bitpay, E-coin according to Google) is because they offer not only wallet but also bitcoin cards. According to their statements it is possible to load such type of card with bitcoin and use it like usual bank card. As it's not so many places where it is possible to pay with bitcoin I thought such card could help me a lot with that inconvenience. As for Mycelium you've recommended it seems they offer some card, have you ever tried it?. Or using such type of cards is not a good idea? |
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я такими картами не пользуюсь я меняю на обычную карту приват или же на киви кошелек мне вполне этого хватает, менять можно через биржи, обменники или же искать проверенных менял смотри тут их https://bitcointalk.org/index.php?board=20.0 которые не кинут при обмене Выше в комментариях мне подсказывают, что у сервисов с картами зачастую "конские" курсы обмена биткоинов, Вы тоже из этих соображений не пользуетесь такими кошельками, картами? Просто мне, как человеку пока не сильно опытному в этом деле, конечно было бы проще пользоваться каким-нибудь одним сервисом по типу все в одном, кошелек+карта. По приведенной Вами схеме и предложенной kzv, задача по поиску кошелька для меня дополняется не менее сложными задачами по поиску надежных бирж, обменников, менял на форумах или, как подсказывают, на локалбиткоинс. Может быть имеет смысл переплачивать немного на курсе, но минимизировать риски ...  |
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ну самый популярный web кошелек это https://blockchain.info насчет xapo который дает карту тут сказать ничего не могу но отзывы не очень, с безопасностью у всех проблема будет если что то с сервером сучится и ты не сможешь попасть на кошелек, есть портативная версия легкого кошелька Electrum который устанавливается на флэшку PS если сумма более 5 btc то не рекомендую пользоваться web кошелеком А если не брать конкретно Xapo, каково Ваше мнение про биткоин карты вцелом. На вскидку, кроме Xapo, и если верить Гуглу, подобные карты еще предлагают кошельки Spectrocoin, Cryptopay, Bitpay, E-coin и много других. Если им верить, то должно быть удобно, предлагают заказать карту в долларах, пополнять биткоинами и пользоваться ею где угодно, как обычной банковской. Или биткоин карта это не самый разумный метод "обналичивания" биткоинов? |
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I'm in need of choosing a "right" (safe, convenient, reliable) online bitcoin wallet for my funds but because of the variety of such wallets and lack of experience in this field it's quite complicated task for me. I'm sure that there are some pitfalls that I don't know or haven't heard about yet and which would affect a lot on the choice. I would appreciate some help on this topic from people who has some experience regarding such types of wallets.
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Столкнулся с необходимостью создания биткоин web-кошелька (в силу определенных обстоятельств возможности пользоваться десктопной версией кошелька нет).
Хотелось бы остановить свой выбор на наиболее удобном, безопасном и функциональном кошельке позволяющем максимально обезопасить свои сбережения, а также пользоваться средствами с кошелька для оплаты покупок и услуг (некоторые кошельки позволяют выпустить пластиковую карту и пополнять ее биткоинами). Как пользователю, относительно недавно столкнувшемуся с биткоин, сделать однозначный выбор в пользу какого-либо из существующих кошельков достаточно тяжело, т.к. я более чем уверен, что существуют какие-то подводные камни о существовании которых мне неизвестно.
Буду рад услышать ваше мнение и рекомендации на этот счет.
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Well for me i think it depends on your country that you live in.For me we use coins ph here in philippines because it os the most efficient wallet and convinient and portable for us.One wallet thats best for me is xapo ofcourse because of its security
What about Xapo's security, do you mean their cold storage? Maybe you could tell a bit more in details about Xapo's security. I think it would help a lot for all newbies like me who's trying to choose a "right" wallet |
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I know there are a lot of wallets available.
This is why I want to know your opinion what is the best online Bitcoin wallet, in level of security, protection of our Bitcoins and availability of support.
i suggest coinbase, they have 2fa so getting hacked is pretty unlikely. the reason i dont like blockchain is because its too slow. i have to login everytime i want to check the balance. their app sucks. and coinbase has an amazing app. I disagree. Coinbase allows 2FA however and unlike Blockchain.info they don't give you access to your private keys so If they want to run with your funds or they get really hacked/ or goes down for some reason you won't be able to access your funds . If you want to check your balance simply search for your address in the blockchain.info and then bookmark that way you see your balance without connecting into your wallet each time. What can you say about Coinbase and their license, which theoretically wouldn't allow them just run with all funds. In such cases sooner or later they'll be brought to justice, isn't it? I'm just trying to figure out if such licenses really matters and it's quite hard to get comprehensive information |
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<SNIP>
That is correct. But these features are good only if you are bitcoin newbie and faucet sucker.
A real feature is Xapo Debit Card - your wallet is linked to a XAPO debit card, allowing for easy use of bitcoin everywhere in day-to-day life.
Personally I would not use it because I find their fees a little too much, but others might find it fine.
i have never liked these Debit cards, my reason is that bitcoin was created to eliminate the third parties for using your money which means you do it on your own by having a wallet and sending the bitcoin peer-to-peer but by using the card you are again relying on a third party just like a bank and have to pay their fee too. I have to agree that the primary use for this Debit card is its ease of use, the card is directly linked to your main wallet, so its advised to get a new wallet thats not public knowledge, so whatever is in that wallet is immediately available for withdrawal (like the skrill / Moneybookers account). I have looked at other bitcoin cards and most require a separate loading to get to the coins. And although in many cases anonymity may be the reason for using these digital currencies, this is a one is the easier ways to easily convert ur bcoins to cash ntil later efundz But if a card directly linked to a wallet it's not as safe as it would be if a card must be loaded manually from wallet balance before using. In case a card is stolen someone could spend all available funds from the wallet instead of only funds loaded to a card. Don't you think so? That is true but I don't use Xapo wallet as a "storage" wallet. I keep theere an amount that I'm planning to spend on the card for a week or so. And that is usualy not much. Loading card for every purchase could be very annoying and unconvenient because of the confirmation time for instance. But Xapo is extremly easy for spending Bitcoins in everyday life with no transfers, exchanges or other complications whatsoever and that is what I appreciate the most. What about their cold sotrage, according to their website it looks like a really safe place to store bitcoin, do you use it in some cases?. I mean if it's really safe as they say, I could for example store all my funds there (use it as a "storage" wallet) and transfer only small amounts to "usual" wallet and spend only them using a card. Or their cold storage is more about marketing rather than about security? Actually it's quite hard to imagine how do they manage all that vaults somewhere in the mountains when you withdraw funds and how easy this procedure could be compromised |
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What about the safest among online wallets? Which one would you prefer if you couldn't use а secure desktop wallet and why?
Well it depends on where you live. Like me I'm living in the Philippines and we mainly uses Coins.ph because we can access its features in our county. But, those people living in States or other parts of the world. You can use Blockchain.io or Coinbase. These two I think are the safest wallet since their level of security is very high. You need code in Phone and email before you can access your wallet so there is no other way thieves can stole your bitcoin. Plus, the fact that many are using this wallet. There is very low risk of that company to scam your bitcoin stored in it. It seems many people use both of the wallets. As for the Coinbase, they say they have a license (in the U.S.) for their business (actually I didn't quite get what kind of license). Does it add some layer of security for the user on your opinion, or in the bitcoin world such type of licenses don't mean much? |
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<SNIP>
That is correct. But these features are good only if you are bitcoin newbie and faucet sucker.
A real feature is Xapo Debit Card - your wallet is linked to a XAPO debit card, allowing for easy use of bitcoin everywhere in day-to-day life.
Personally I would not use it because I find their fees a little too much, but others might find it fine.
i have never liked these Debit cards, my reason is that bitcoin was created to eliminate the third parties for using your money which means you do it on your own by having a wallet and sending the bitcoin peer-to-peer but by using the card you are again relying on a third party just like a bank and have to pay their fee too. I have to agree that the primary use for this Debit card is its ease of use, the card is directly linked to your main wallet, so its advised to get a new wallet thats not public knowledge, so whatever is in that wallet is immediately available for withdrawal (like the skrill / Moneybookers account). I have looked at other bitcoin cards and most require a separate loading to get to the coins. And although in many cases anonymity may be the reason for using these digital currencies, this is a one is the easier ways to easily convert ur bcoins to cash ntil later efundz But if a card directly linked to a wallet it's not as safe as it would be if a card must be loaded manually from wallet balance before using. In case a card is stolen someone could spend all available funds from the wallet instead of only funds loaded to a card. Don't you think so? |
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Barely any faucets send payments to Xapo wallet. Just use like blockchain or something like that.
Yeah I really don''t know why people even use a xapo wallet. An online wallet like coinbase is better. Why do you think it's better? |
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If we speak about online wallets then I'd go with Blocktrail since It has a better design and it's an HD wallet (private and secure and also offer Two factor authentication using Google Auth or Authy).
Keep in mind that CoinsBank is not a wallet, It's an exchange and you don't control your private keys , If they get hacked (like Bitfinex) you get screwed , same thing goes for Moneypot (which I suppose it's a gambling website ? )
What about Coinbase, looks like they are licensed unlike others. At least there is a potential address where one could apply to in case exchange get hacked |
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What about the safest among online wallets? Which one would you prefer if you couldn't use а secure desktop wallet and why?
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