Online Wallet - Site Disappears

[Kongxx]

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

[stigmacryptonight]

Nothing needs to be feared in crypto, because everything we do must have risks. Because the possibility that happens a little if we save coins in the wallet online and at one time the site will disappear, actually I am not afraid because there is no way that could happen.

[AltcoinsBattle]

In my case, these are ERC20 tokens. The sites that display this are myetherwallet and etherscan and the like. If these sites disappear, it will no longer matter what I have, since the all cryptocurrencies will be in a deep hole (_*_) .

An other coins in my local wallets, which also does not provide security in case the project site disappears.

[Callanta787]

If you put your coins on a online wallet that's plain stupidity ,online wallets have no backups or private keys,its control by who ever owns the website don't even try it or you lose your coins

[Leema]

Well i don't store my assets in an online wallets. For any Erc20 assets i think imtoken, Trust are better wallets to secure funds. Even keeping your funds in an exchange is not advisable.  So these wallets are safe.

[Fluxtorrence9]

I guess you are a newbie ,why store coins on an online wallet? Its very risky ,get mobile wallets on your phone with private keys ,like coinomi or trust wallets

[Barracuda]

I guess you are a newbie ,why store coins on an online wallet? Its very risky ,get mobile wallets on your phone with private keys ,like coinomi or trust wallets

I think the OP has understood now. Maybe he meant "IF IT HAPPENED". In fact, it is not recommended to store our assets competed online. Because it is very risky to lose. And you suggest storing a cellphone with a private key, that is a good suggestion.

[Msworld83]

This crypto ecosystems is a very delicate thing to use and also a very smart way to get your self set for smart decision as the goal is to have power over your funds and in a situation that you misuse the secret then you are gone in a short time.

Its never advice to store your coin in an online wallet especially the new ones that are just getting to the industry which is a very delicate one to use , storing your coins or token in a wallet you can control by having your passphrase or private key is much better .

[||bit]

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

If it is an altcoin and web wallet official, i wouldn't mind because it is just a scam and even you have that coins in your own wallet, tokens will be there but they will worth nothing so not a big deal.

If it is bitcoin or one of the biggest cryptocurrencies that won't come out scam (like stellar ethereum), i always use official wallet and wallets give me private keys (like myetherwallet).


So i am not scared at all.
If you don't want to scare too, only use official wallets and don't trust 3rd party service providers.

[creeps]

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

You have to be scare because its your money and you worked for that money. Its not advisable to use online wallet, your decision will matter on this. If you put the money on the online wallet most especially on the exchanges then you will cry if that wallet or an exchange leave the market, let's learn from what happened to Cryptopia Exchange.

I advice to have at least one hard wallet, don't risk everything just use your $100 or less to buy a hard wallet and you can have good secured wallet.

[4rzun4]

If the site disappears and we lose track, it means losing everything. Afraid, but I don't expect that. But the most worrying thing is hacking. We better all need to be more anticipated with all the possibilities that will occur, so that we do not become victims or lose assets in an online wallet. Thank you so much.

[Red-Apple]

when you are handing over your most important things which you should have kept private to others to keep for you, then you should already expect things like this to happen. being scared or surprised later on is just dumb and showing they didn't think ahead.
if you don't like it then don't use web wallets.

[judeafante]

After reading these so many online web wallet hacking I stopped using these online wallets and just use the desktop version, on erc20 tokens I use MyCrypto on Bitcoin and other coins my pick is Exodus, just be sure to always update your desktop wallet to their latest version.

[shadowdio]

It is really risky storing your cryptos in unknown online wallet site, that site could disappears anytime you really lose everything, better to store a good reputation online wallet like MEW if your crypto is a ERC20 token.

[donass1]

One sweet thing about Cryptocurrencies and decentralisation is that even if the particular website you used suddenly disappears, everything is stored in the chain and you can simply import that your wallet to another wallet with your private key or mnemonic phrase, have you wondered how it's possible to open a MEW wallet and be able to import it to imtoken app.

[Dellosoft]

By online wallet you mean web wallet I guess? Storing funds in web wallet and site goes down doesn't mean you've lost everything, especially when there is private key or keystore. There are other similar wallet developed where you can import. Unless you are referring to a scam project.

[thesmallgod]

Nothing needs to be feared in crypto, because everything we do must have risks. Because the possibility that happens a little if we save coins in the wallet online and at one time the site will disappear, actually I am not afraid because there is no way that could happen.

Who told you the possibility is little. please try and research before you make ill-informed information. Online wallet do not backup your private key. If you store your coin in an online wallet and the site disappear that is the end of everything you hold because you can not recover your coin again and that is the major reason why we always advice crypto trader not to put huge amount of their coin in an online wallet. Even recently, one of the top executive of binance make reference to this that its not advisable to keep huge crypto in an online trading platform.  many people put their coin on coinbase becuase they believe if coinbase goes offline, they can legally track them down. if you put your coin in an online wallet that are new and have not gather more credibility, you are on your own.

[thesmallgod]

After reading these so many online web wallet hacking I stopped using these online wallets and just use the desktop version, on erc20 tokens I use MyCrypto on Bitcoin and other coins my pick is Exodus, just be sure to always update your desktop wallet to their latest version.

even desktop wallet are vulnerable to attack and that is the reason while they always provide security update every time especially when they have done security auditing. the best wallet still remain Hardware wallet.

[pushups44]

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

People ought to be wary of online wallets and small exchanges. This is why only you should have access to your private key, and if using an exchange your risk of loss is reduced with a larger, well-established exchange.

[michellee]

If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.

Are you scared?

Of course, I am scared, and that is why we need to save in another wallet, and it's better in other hardware. Don't use the online wallet or the exchanges to save all of your coins because that will not be advisable, and you know the risk. We need to prevent the worst scenario that might happen in the future so we can anticipate before it happens.