Inhumans (OP)
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May 17, 2019, 06:06:47 AM |
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Need a a hot wallet like coinbase? Beside coinbase where else can I sign up?
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NeuroticFish
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May 17, 2019, 06:13:57 AM |
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Need a a hot wallet like coinbase? Beside coinbase where else can I sign up? It would be nice to tell us what you want to achieve. As a generic point, the best option is usually your own wallet, where you (and only you) own the private key or seed. You seem to need to read a little about crypto (and wallets) first. This may be a bit outdated, but it's a start: https://en.bitcoinwiki.org/wiki/Cryptocurrency_wallet
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The Cryptovator
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May 17, 2019, 06:21:17 AM |
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Are you sure coinbase is a hot wallet? I think it's a web wallet. Since you are not holding private key of coinbase wallet then I don't think it's hot wallet. As far as I know those wallet allow you to create private key, seed or file on your PC they are called hot wallet. However perhaps below article will help you to understand whole thing, I might be wrong as well, https://www.buybitcoinworldwide.com/wallets/
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Bitcoin_Arena
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May 17, 2019, 06:21:51 AM |
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You might wanna check out this mate. https://bitcoin.org/en/choose-your-walletAll your trusted Bitcoin wallets are in there As for coinbase and those other wallets you have to sign up for, I am personally not a fan of them as your private keys are held by third party services, implying that you don’t really have control of your Bitcoins/cryptos. Sometimes they even force you to do KYC in order to use their wallets so if you love being anonymous, I guess you have to stay away from them.
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Inhumans (OP)
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May 17, 2019, 06:32:12 AM |
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Are you sure coinbase is a hot wallet? I think it's a web wallet. Since you are not holding private key of coinbase wallet then I don't think it's hot wallet. As far as I know those wallet allow you to create private key, seed or file on your PC they are called hot wallet. However perhaps below article will help you to understand whole thing, I might be wrong as well, https://www.buybitcoinworldwide.com/wallets/ Didnt know much about wallet. So correction, I need a web wallet.
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Awesomus Maximus
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May 17, 2019, 06:52:18 AM |
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OK, you need a web wallet. We now know a little bit more about what you need. The next question is what kind of wallet do you need? What coins should it keep? Because there are different wallets for different coins, and even wallets that keep several coins at the same time. If it is bitcoin wallet you seek, try bitgo: https://www.bitgo.com/ But I would strongly suggest that you install your own lightweight wallet, like electrum. If you are going to put large amount of money don't use a web wallet.
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Inhumans (OP)
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May 17, 2019, 06:59:22 AM |
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A web wallet would be fine, wont store much of any crypto. I would store abit here and there. Just need a few web wallets and spread out the risk.
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bob123
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May 17, 2019, 08:06:07 AM |
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A web wallet would be fine, wont store much of any crypto. I would store abit here and there. Just need a few web wallets and spread out the risk.
If you want to minimize the risk, don't use a web wallet. Spreading your 'little' funds between multiple web wallets is way worse than storing all of your coins on a desktop-/hardware wallet. If you really want to use a web wallet, use a reputable one. But if you do not necessarily need to use a web wallet, you might just state why you think that a web wallet is most suitable for you, and we probably will find a way better alternative.
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anu1908
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May 17, 2019, 10:11:50 AM |
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what kind of crypto that you want to use/store? if it's eth and the gang, metamask would be the best i think. or mew/mycrypto.
if it's btc, electrum would be the best.
and a wallet is just a tool to access your crypto, it doesn't 'save' your crypto.
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Lucius
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May 17, 2019, 10:44:06 AM |
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What I see here is a classic case how most new users of cryptocurrency are thinking when it comes to wallets. It is usually easier to make account on any online service, then to download wallet to PC / smarthphone, especially if the service not request KYC.
Although using exchanges for storing crypto is not smart move, in some cases it can be a much safer solution then using desktop / mobile wallet. We witnessed a huge number of cases where users of one of the most popular desktop wallet (Electrum), lost significant amounts of BTC due fake wallet / phising exploit. In case when user is using only web wallet / exchange, it just need to be careful to always use legit site, and that device is clean from malware / virus threats.
Some small amount of coins can always be stored in exchanges, or desktop / mobile wallet, but whoever has a significant amount of coins should use safer methods, hardware wallets or paper wallets are the only logical choice.
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NeuroticFish
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May 17, 2019, 10:51:20 AM |
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What I see here is a classic case how most new users of cryptocurrency are thinking when it comes to wallets. It is usually easier to make account on any online service, then to download wallet to PC / smarthphone, especially if the service not request KYC.
Although using exchanges for storing crypto is not smart move, in some cases it can be a much safer solution then using desktop / mobile wallet. We witnessed a huge number of cases where users of one of the most popular desktop wallet (Electrum), lost significant amounts of BTC due fake wallet / phising exploit. In case when user is using only web wallet / exchange, it just need to be careful to always use legit site, and that device is clean from malware / virus threats.
Some small amount of coins can always be stored in exchanges, or desktop / mobile wallet, but whoever has a significant amount of coins should use safer methods, hardware wallets or paper wallets are the only logical choice.
Exchanges usually have big withdrawal fee, so multiple withdrawals may come expensive. Also exchanges get hacked now and then. Web wallets are also targeted now and then by phishing attacks and some don't allow much (or any) control over the tx fees, leading to other troubles. That's why I always advise proper wallets for small/usual amounts. (Yes, for big amounts I agree: if spending then hardware wallet, if just holding paper wallet; these are the easy and normal choices.)
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Pmalek
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May 17, 2019, 11:12:45 AM |
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We witnessed a huge number of cases where users of one of the most popular desktop wallet (Electrum), lost significant amounts of BTC due fake wallet / phising exploit. In those cases it was always the fault of the users and not Electrum. They were the ones who downloaded and used the fake wallets. Electrum made it impossible to display those messages in their newest versions. In case when user is using only web wallet / exchange, it just need to be careful to always use legit site, and that device is clean from malware / virus threats. Legit exchanges have been hacked in the past and especially users using APIs or no 2FA protection lost their funds. Given a choice between relying on someone else handling my keys - like web wallets or using a trusted desktop wallet that had its faults or still has some but applying common sense can help to fix that, I would choose the 2nd option.
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crairezx20
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May 17, 2019, 01:06:13 PM |
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A web wallet would be fine, wont store much of any crypto. I would store abit here and there. Just need a few web wallets and spread out the risk.
It still not safe to use web wallet it's always recommended to use a wallet with seed or private keys. If you want to use a wallet in your mobile devices or PC there are many options to use I suggest you check this https://bitcoin.org/en/choose-your-wallet
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mk4
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May 17, 2019, 03:07:41 PM |
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A web wallet would be fine, wont store much of any crypto. I would store abit here and there. Just need a few web wallets and spread out the risk.
Genuine question: If you're just going to store a small amount of crypto(the same small amount you're comfortable having in your pocket wallet for day-to-day transactions), why would you need to spread out the risk? Anyway, I suggest just trying out what people are suggesting, and choose yourself. I personally still wouldn't go with a custodial web wallet for my hot wallet though. My personal pick would be the Edge wallet, as I'm a bit of a UI junkie. I'm not sure if it's super secure, but whatever. As I only hold small amounts there(probably not more than $40).
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Lucius
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May 17, 2019, 03:09:02 PM |
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NeuroticFish, personally I think people are the weakest link when it comes to security of their wallets. Someone who using Electrum and does not know the correct way how to make update / verify signature, is vulnerable in the same way as a user who use online wallet / exchange and become victim of phishing via e-mail or search results in browser. We often advise users to invest some money in hardware wallets, but such wallet is safe as long as we have a backup, and if we know that seed words should be typed only on HW, not in e-mail, cloud, or unprotected text file.
Pmalek, Electrum fix that exploit after some time, but all users who still use old version are potential victims. I can not agree that only fault is on users, it is exploit which is using original wallet to show link to fake wallet. Developers are also responsible for not find that expolit and fix it before it was discovered by hackers.
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okala
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May 17, 2019, 07:40:36 PM |
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What do you want to use the wallet for is it for cold storage of your coins or an exchange wallet, this are what we need to know in other to give you the right advice, bit if you are looking for a safe way to store your bitcoin then you need to go for blockchain wallet and also go for binance if looking for an exchange wallet despite the fact that the exchange was hacked recently.
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chenille
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May 17, 2019, 11:53:47 PM |
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Need a a hot wallet like coinbase? Beside coinbase where else can I sign up? I won't use exchanges as hot wallet. Of course you can but that's realllly hot and the risk is high that you lose your coins if the exchange gets hacked. A desktop wallet is very useful as hot wallet, electrum was already suggested but if you need more coins you can also use Exodus. Exodus supports BTC and many altcoins. For big amounts my recommendation is to store offline.
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Velkro
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May 18, 2019, 01:49:00 AM |
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Need a a hot wallet like coinbase? Beside coinbase where else can I sign up? As you know already its called web wallet. There are many to choose from. Consider privacy, consider ease of use. Consider their years on the market. Thats it good luck, have fun!
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Retina
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May 18, 2019, 06:08:19 AM |
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Need a a hot wallet like coinbase? Beside coinbase where else can I sign up? basically, you used coinbase but coinbase is exchanger base wallet, if possible so you can use electrum only for bitcoin and hardwar wallet like others something, all in one hardware is the best wallet. Nano S or Tezorr.
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