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Author Topic: BTC.com wallet Biggest Scam Warning !! Locked Funds  (Read 448 times)
akmlvl (OP)
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December 22, 2018, 12:44:09 PM
 #21

If they can't handle replying to emails immediately as they said then don't lock someones funds that he needs them in a specific time you know what ?  they just don't care it's obvious

don't try to implent security features that are not working properly and are beyond your power to handle

show users a warning on the wallet so they know their wallet is disabled so they don't use it to receive a payment

and show them the reason

it seems like the wallet was disabled even before me receiving the payment

this is not paypal to protect my funds espicially if their algorithm is totally stupid and not stable and locks users without a notice there is a lot of people on fb complaining on this issue

That's exactly what I think as well.

It shouldn't take 2 days to resolve an issue with cosigning a payment. It should take less than 24h at the max, especially when amounts this high that are involved. Otherwise, I think that the 'benefits' (which I don't think aren't even benefits) of having a cosigner verify payments are just completely not worth it for the hassle, and the risk that you can't be verified as the rightful owner of the coins, in which case, btc.com can just not release the coins for however long they would like.

And that's why I don't personally use these services, because there could be a lot of hassle with restoring wallets, contacting support etc. when something like this does happen, even though theoretically they don't have access to your funds. It's much easier dealing with just a desktop wallet which you fully control, or even paper wallets, which in most cases both of these wallets will have sufficient security.

But you made the mistake of not keeping the recovery stuff saved, as well. Things could have turned out bad for you without you having access to the recovery docs.

That's Totally True The lost of the recovery file was my fault but btc.com can't handle such situations properly even tho i'm the real owner they will have a hard time figuring out

I think you made the right decision, when it comes to cryptocurrency every user should to behave as their own bank. Some amount of coins can always be on exchange, especially if you are a trader, it is a risk that always exists - but most of the funds shoud be in much safer places then online wallets.

Even though you switched to desktop wallet and now you have full control of your coins, it is important to pay attention to security of devices, and to download wallets only from legit sites. Fake wallet or some crypto malware can steal all you have in the blink of an eye.

Good luck&and stay safe.

Yes bro the risk is always there whatever you do
Thanks For the advices be safe too Wink
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shield132
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December 26, 2018, 04:03:18 PM
 #22

Hmm... I don't use btc.com's wallet but despite that fact, I still had problem with blockchain.info <-- they just didn't let me to log in on my wallet, glad I didn't send anything here, it was just their strange problem on only one wallet, another wallet works fine for years. Since bitmain ownes btc.com and they also bought blocktrail, have you ever used this last one? I liked blocktrail, now instead of it, they offer btc.com's wallet. I mean, if anyone knows, has btc.com's wallet anything common with old blocktrail's wallet?

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December 26, 2018, 08:16:34 PM
 #23

Hmm... I don't use btc.com's wallet but despite that fact, I still had problem with blockchain.info <-- they just didn't let me to log in on my wallet, glad I didn't send anything here, it was just their strange problem on only one wallet, another wallet works fine for years. Since bitmain ownes btc.com and they also bought blocktrail, have you ever used this last one? I liked blocktrail, now instead of it, they offer btc.com's wallet. I mean, if anyone knows, has btc.com's wallet anything common with old blocktrail's wallet?
All online wallets are risky to use and it's not recommended to store your funds for a long time and users are not in complete control all Bitcoin private keys compared to use a desktop wallet or bitcoin core wallet. So I suggest you don't use any web wallet or mobile wallet to save your bitcoins for a long time.
I recommended wallet are desktop wallet like electrum and bitcoin core for hardware ledger nano S and a paper wallet.

If you are still having a problem with your blockchain.info wallet you can try to contact them first they can help you with your wallet through the verification process.

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December 26, 2018, 08:28:20 PM
Merited by LoyceV (1)
 #24

All online wallets are risky to use and it's not recommended to store your funds for a long time and users are not in complete control all Bitcoin private keys compared to use a desktop wallet or bitcoin core wallet. So I suggest you don't use any web wallet or mobile wallet to save your bitcoins for a long time.
I recommended wallet are desktop wallet like electrum and bitcoin core for hardware ledger nano S and a paper wallet.

You can definitely safely use a mobile wallet client like Electrum. You at all times are the sole owner of your private keys, which is what matters here, and it's a light weight client, also very important. As long as you have safely stored your recovery seeds offline (i.e. written on a piece of paper), nothing will happen to your coins.

I seriously wish that the legitimate clients would put more time and effort into making their clients look more appealing, because most of the average joes add a lot value to that, which is why they blatantly pick online wallets over clients that store private keys locally. In the same way, Electrum is pretty boring in terms of UI, and that should change.

I get it, development and security of the client comes always first, but in all the years none of them has done anything to make their client look more attractive.
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December 27, 2018, 12:59:28 AM
 #25

Additionally, hardware wallets like the Ledger series or Trezor aren't good for mining payments (or lots of small payments from other places) because it takes the hardware wallet longer to verify and create a transaction when there are many inputs, and this can result in very long times to create a transaction over time. You can simply combine inputs when fees are low every now and then, but Electrum comes in handy for things like this when the correct precautions are made. Hardware wallets do also have their weaknesses, and Electrum can fill at least some of them.
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April 22, 2019, 02:22:45 AM
 #26

Online wallets are not safe 99% like BTC.com and coinbase wallet and I think you are not the only one who experienced this "consigning is disabled" I heard some users from reddit before that they experienced the same thing and I never heard that someone successfully enable the consigning or unlock the wallet.
BTC.com is known for locking users funds based on the post from here https://bitcointalk.org/index.php?topic=1877718.msg18696900#msg18696900

The best thing you can do now is to explain what happens to your wallet and ask them another way to verify that you own that wallet like sending documents just to verify that you own the wallet or try to request contacting the email linked to your wallet and hope that they could send a link for enabling consigning or a link to unlock your wallet so that you can be able to send bitcoin again.

If ever you can able to send bitcoin and fix don't waste your time and transfer your bitcoin to other wallets where you have full control over your funds.
I suggest you Electrum wallet just make sure you can save the seed phrase to the safe place where you can save it for a long time and use it when you need it to recover your wallet.

People having full control of there funds is best when they know what they are doing
The somewhat recent electrum issue when you would try and send a transaction and it would respond with needing to update
leading you to a fake version of electrum that would instantly steal all your funds some people are just not ready to control there own funds
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