|
Matias (OP)
|
 |
January 15, 2016, 02:18:54 PM |
|
Why people use exchanges' online valets? There have been several thefts on those. Why use them? I prefer local valet on my computer. I personally use MultibitHD.
|
|
|
|
|
Amph
Legendary
 Offline
Activity: 3248
Merit: 1070
|
|
January 15, 2016, 03:31:55 PM |
|
because many do not have a good computer, and rely on their smarthphone or web wallet, but since smarthphone are not so secure because many user have not experience to keep them secure(dl'in random stuff)
they think that keeping them on a third party is more secure than handling their coins themselves, maybe is true only with web online wallet that have insurance, like coinbase
|
|
|
|
|
|
bitlancr
|
|
January 15, 2016, 03:40:19 PM |
|
I think most people are into online wallets because it's very easy to use, especially if you just got into bitcoin and are still learning. Desktop wallets take up a lot of space which some people don't have.
|
|
|
|
|
|
WENGER
|
|
January 15, 2016, 03:45:26 PM |
|
I only use online wallet (Blockchain.info to be exact) and I have a good computer just like most do. It's very user friendlier than the others and it has all the functions you need instead of few others that have limited functionality so ever since I've been stuck with it and aside from occasional attacks on the network, haven't experienced any other problem with it.
|
|
|
|
|
|
xdrpx
|
|
January 15, 2016, 03:51:41 PM |
|
There could be several reasons to this and unfortunately many fall prey to it. Few that I could think of are:
1) Ease of access of funds: Many prefer the ability to easily access their funds from an exchange website through a portable device, probably their smartphones.
2) Laziness and/or lack of understanding about security: Sometimes people prefer exchanging altcoins and monitor the prices, they prefer to keep it there for days or weeks or even months and wait for the opportune moment to trade without realizing it's risky storing them on web wallets. Most exchanges give importance on "fees (methods to earn commission)" and easy "exchange" but ignore security factors. People assume a web wallet with 2-factor authentication keeps them safe, but it need not be the case. Until and unless you alone have access to your private keys (considering it's not a multi-sig wallet), it's good to understand that the cryptocurrency you store on these exchanges may not be yours.
|
|
|
|
|
nydiacaskey01
Legendary
Offline
Activity: 1834
Merit: 1036
|
|
January 15, 2016, 03:54:31 PM |
|
Those who uses exchange address as wallet are not fully informed about the disadvantages of using such address. Even if they dont have desktop or laptop and use a smart phone only, they can still stay away from those exchage wallet address.
|
|
|
|
|
|
pinoycash
|
|
January 15, 2016, 03:54:54 PM |
|
Its easy to access funds using online wallet, but i dont keep large amount of BTC in an online wallet, jsut enough for casinos and altcoin trading
|
|
|
|
SmartIphone
Legendary
Offline
Activity: 1204
Merit: 1000
|
|
January 15, 2016, 07:34:19 PM |
|
People can't afford downloading the whole blockchain as some desktop wallet requires, some people need to access web wallets from different devices so it's easy to send/receive bitcoins.
|
|
|
|
|
|
partysaurus
|
|
January 15, 2016, 07:58:48 PM |
|
to be honest bitcoin can never go mainstream if it was not for all these online wallets , just hearing about the other option makes most people get a headache and never want to touch bitcoins, the online wallets made it so easy to use and to understand what u see when u look at your screen  . and im one of these beginners also i have used both but i prefer online wallets feels way more natural and something that you are used to thanks to banks having online services same with betting and alot of other stuff, so it just felt normal. but the theft have to stop in someway or bitcoins is dead becuse then it will never atract more people, if they cant use online wallets :/ |
|
|
|
|
|
Bitcoinbro
|
|
January 15, 2016, 08:16:40 PM |
|
People can't afford downloading the whole blockchain as some desktop wallet requires, some people need to access web wallets from different devices so it's easy to send/receive bitcoins.
Very true not all people can just download the whole blockchain, but what is nice about online wallet is easy to use and is not that bad if you don't have that much bitcoin. That is why people have a lot of wallets and they don't have a offline wallet. |
|
|
|
|
SmartIphone
Legendary
Offline
Activity: 1204
Merit: 1000
|
|
January 15, 2016, 08:18:57 PM |
|
People can't afford downloading the whole blockchain as some desktop wallet requires, some people need to access web wallets from different devices so it's easy to send/receive bitcoins.
Very true not all people can just download the whole blockchain, but what is nice about online wallet is easy to use and is not that bad if you don't have that much bitcoin. That is why people have a lot of wallets and they don't have a offline wallet. Here we go and we conclude that it is needed to have more than one wallet, one for every day use and another one (mostly hardware wallet) as a cold storage for savings. |
|
|
|
|
odolvlobo
Legendary
Offline
Activity: 4494
Merit: 3417
|
|
January 15, 2016, 08:19:20 PM |
|
People can't afford downloading the whole blockchain as some desktop wallet requires, some people need to access web wallets from different devices so it's easy to send/receive bitcoins.
Very true not all people can just download the whole blockchain, but what is nice about online wallet is easy to use and is not that bad if you don't have that much bitcoin. That is why people have a lot of wallets and they don't have a offline wallet. true. I have several wallets on several devices and none of them download the block chain. |
Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
|
|
|
|
foxkyu
|
|
January 15, 2016, 08:45:45 PM |
|
People can't afford downloading the whole blockchain as some desktop wallet requires, some people need to access web wallets from different devices so it's easy to send/receive bitcoins.
Very true not all people can just download the whole blockchain, but what is nice about online wallet is easy to use and is not that bad if you don't have that much bitcoin. That is why people have a lot of wallets and they don't have a offline wallet. true. I have several wallets on several devices and none of them download the block chain. It's depend on what wallet you're using. If you are using bitcoin core wallet, then there is no other option except for downloading all the blockchain. But for other wallet didn't have to download all the blockchain. Like multibit in desktop, my cellium on mobile, and blockchain.info in web wallet. |
|
|
|
|
countryfree
Legendary
Offline
Activity: 3066
Merit: 1047
Your country may be your worst enemy
|
|
January 16, 2016, 12:22:47 AM |
|
Because online wallets are the only wallets which work everywhere. There's no choice.
You can't download the blockchain if you're not at home, and clients like Multibit rarely works in hotels. Wifi's free but they have firewalls and routers which blocks most ports. Same with Mycellium on my tablet.
|
I used to be a citizen and a taxpayer. Those days are long gone.
|
|
|
fortunecrypto
Legendary
Offline
Activity: 2562
Merit: 1048
|
|
January 16, 2016, 02:03:31 AM |
|
Why people use exchanges' online valets? There have been several thefts on those. Why use them? I prefer local valet on my computer. I personally use MultibitHD.
I cannot store all my coins on my computer as it will occupy a large space as we all know the wallet grow large as time goes by so we need an online wallet to keep some of our coins,but I make sure that only alt coins that has small value are kept on this online exchangers and exchange them when the right time to trade |
|
|
|
kheein
Sr. Member
Offline
Activity: 686
Merit: 251
Turn your financial ideas into reality
|
|
January 16, 2016, 04:01:37 AM |
|
because it is very simple , do not need to download our smartphone burdensome .
|
|
|
|
|
bitbaby
|
|
January 16, 2016, 05:26:07 AM |
|
I don't think the reason why people are storing their coins on exchanges is because of simplicity, I think they're traders who want to profit from the market and because it takes a little time to get coins into the exchange, they leave it there. Which is a big mistake. Because online wallets are the only wallets which work everywhere. There's no choice.
You can't download the blockchain if you're not at home, and clients like Multibit rarely works in hotels. Wifi's free but they have firewalls and routers which blocks most ports. Same with Mycellium on my tablet.
Thats not true, Electrum would work everywhere and even if you can't connect it, you can always make a transaction using it, sign it and then broadcast it using any broadcast service such as, https://blockchain.info/pushtx, https://blockr.io/tx/push. Your coins still remain safe and secure in your wallet. |
|
|
|
|
neochiny
|
|
January 16, 2016, 05:32:16 AM |
|
Why people use exchanges' online valets? There have been several thefts on those. Why use them? I prefer local valet on my computer. I personally use MultibitHD.
People use it, just because its easy to use. In exchange online wallets you can convert your altcoin easily to btc or viceversa. But leaving a lot of btc's on it is a big mistake. As it is very risky nowadays. |
|
|
|
pooya87
Legendary
Offline
Activity: 3640
Merit: 11033
Crypto Swap Exchange
|
|
January 16, 2016, 05:59:09 AM |
|
Why people use exchanges' online valets? There have been several thefts on those. Why use them? I prefer local valet on my computer. I personally use MultibitHD.
because they start using their brain "after" they were burnt. but as long as they see the beautiful design with beautiful words of a "website" they are happy. they exchanger claims to be safe in the first page with pictures of safes with big locks and they think to themselves we are going to be fine. and apparently they don't know about google and how to search about these stuff. |
|
|
|
Kprawn
Legendary
Offline
Activity: 1904
Merit: 1074
|
|
January 16, 2016, 06:49:17 AM |
|
I think there are two reasons :
1. Desktop wallets are too technical for most people and they do not want to spend hours or weeks depending on the speed of their internet access to wait for the Blockchain
to download.
2. It is more practical to access your bitcoins from any location than having to constantly using it from one location.
The best option is to distribute your coins between different options. Keep small amounts online for personal use and keep the rest in cold storage. Hardware wallets is also a
good way to give you mobility and to have improved security.
|
|
|
|
|
