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October 27, 2017, 09:05:05 PM |
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Online wallets are really handy, it's like your leather wallet in your pocket in real life. You use it for everyday spendings, you don't put your life savings into it and you have only a little money in it. Why? Because it's not safe, you can lose it, pickpocketers would take it, etc... This is online wallet in the Bitcoin ecosystem. In real life, you put your life savings into a safe or trezor because it's safe. It's not really convinient to use, you can't take it with you and you have to remember the pin or have the key to open it. But, it's safe and you can trust it that it will save your funds. This is offline or hardware wallet in the BTC world. If you have just a little amount invested in bitcoin, you can use online wallet. As soon as you read enough, you'll understand the difference and will use offline / hardware wallet as well.
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