Teawhalee
Copper Member
Jr. Member
 Offline
Activity: 482
Merit: 1
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June 09, 2019, 08:54:39 PM |
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Just be careful with using of these wallets. Nothing can be done if this happens which is why it is advisable to never use untrusted website or wallets. So of them out there ! Care is needed in this space!
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mr.robot8
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June 09, 2019, 09:00:25 PM |
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nothing is impossible but i don't keep anything on the online wallets and very little amount on the exchanges, we have to protect our altcoins keeping them possibly on a wallet hardware
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Classica35
Jr. Member
Offline
Activity: 518
Merit: 3
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June 09, 2019, 09:26:08 PM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?
Right from day one, I have always known that online wallets are easily prone to hack. The best option is paper wallet, because you can carry out transaction without necessarily connecting to the internet. The rate at which scam cases are being treated, is quite alarming. |
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eagleman
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June 09, 2019, 09:30:23 PM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
It's true that whenever that site disappears, your funds are lost too forever in your hands because it's already on the hands of the site's operator.
Are you scared?
Why should I? I'm not keeping it on exchanges and online wallets. |
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Twinkledoe
Full Member
Offline
Activity: 1904
Merit: 138
★Bitvest.io★ Play Plinko or Invest!
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June 09, 2019, 09:33:48 PM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
It's true that whenever that site disappears, your funds are lost too forever in your hands because it's already on the hands of the site's operator.
Are you scared?
Why should I? I'm not keeping it on exchanges and online wallets. This is the reason why as much as possible, store your coins in your own wallets. Even if the site has already established its name in the industry, still you should not left your money in the hands of anyone. Because you'll never know what will happen, the site disappears or that site has been hacked. You can't blame the owner but your self on this regard. That scenario is very possible to happen nowadays. Even famous exchanges are victim of hacking incidents. |
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pixie85
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June 09, 2019, 09:41:16 PM |
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I know this can happen and I don't store my coins online. I don't even keep them on exchanges for more than a day or two. If I can't find a good trade I take my coins off the exchange. The only thing that I tend to keep there is fiat money because it will be rather easy to prove how much fiat I had there and what its value was if something happens with the site. I also don't trade on smaller exchanges and I never send all my money there.
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IvugeoEvolutionCoin
Sr. Member
Offline
Activity: 854
Merit: 267
Next Generation Web3 Casino
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June 09, 2019, 09:57:57 PM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?
Certainly. But then we are strongly advised to use reputable online web wallets like coinomi and blockchain because of their track record. Moreover, if you want a tighter security over your funds, kindly purchase an offline wallet like ledger to serve you better |
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eagleman
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June 09, 2019, 10:04:24 PM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
It's true that whenever that site disappears, your funds are lost too forever in your hands because it's already on the hands of the site's operator.
Are you scared?
Why should I? I'm not keeping it on exchanges and online wallets. This is the reason why as much as possible, store your coins in your own wallets. Even if the site has already established its name in the industry, still you should not left your money in the hands of anyone. Because you'll never know what will happen, the site disappears or that site has been hacked. You can't blame the owner but your self on this regard. That scenario is very possible to happen nowadays. Even famous exchanges are victim of hacking incidents. A desktop wallet or hardware wallet is the best.
You may trust the online wallet that you use or the exchange that you use but as long as they won't give you the private key, be aware that everything can turn into dust if you are into that kind of situation. |
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SMOKEU
Member
Offline
Activity: 495
Merit: 10
📱 CARTESI 📱 INFRASTRUCTURE FOR DAP
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June 09, 2019, 10:17:12 PM |
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the coins that you store in an online wallet should be those you want to trade asap, as we all know that its not the safest way to store your coins, maybe at the end of the day they will shutdown their sites and disappear
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mickey_miner
Sr. Member
Offline
Activity: 910
Merit: 250
Proof-of-Stake Blockchain Network
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June 09, 2019, 10:49:27 PM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?
I'm not afraid It is unlikely that this can happen, but for its own safety, it is better to store tokens on proven wallets such as MEW. |
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dataispower
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June 10, 2019, 12:25:23 AM |
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If you are so skeptical about web wallets, why not use hardware wallets like Ledger Nano and Trezor. The hardware wallets are safer. Also, any website can go on maintenance, it doesn't mean your funds are gone.
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marcbitcoins
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June 10, 2019, 12:33:59 AM |
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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 everyone will be worried and scared specially if all of our Crypto assets was in their keeping but this is normal as this is already part of the risks that will need to face therefore i suggest to store your assets in an offline wallet like Nano Ledger S which is 100% safe specially if huge asset is involved. |
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Kongxx (OP)
Jr. Member
Offline
Activity: 131
Merit: 3
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June 10, 2019, 05:12:05 AM |
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I still don't dare to keep the coins in the online wallet at risk for us, whatever security is good I won't want it, I will still choose MEW and nano ledger.
MEW is online wallet. |
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siddartha1492
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June 10, 2019, 05:21:44 AM |
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Online wallets are always risky. Always choose wallets where you own the private keys. Though the advantage of online wallet is ease of access and use. If you choose trusted online wallets like Coinbase, then it shouldn't be a big problem. But choosing a new company for online wallet is not a good choice unless it is tried and tested by veterans.
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Kongxx (OP)
Jr. Member
Offline
Activity: 131
Merit: 3
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June 10, 2019, 05:27:31 AM |
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Online wallets are always risky. Always choose wallets where you own the private keys. Though the advantage of online wallet is ease of access and use. If you choose trusted online wallets like Coinbase, then it shouldn't be a big problem. But choosing a new company for online wallet is not a good choice unless it is tried and tested by veterans.
If the site disappear, what will be the use of the private keys? Can the coins be retrieved then? |
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SistaFista
Sr. Member
Offline
Activity: 1638
Merit: 251
Hexhash.xyz
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June 10, 2019, 07:14:06 AM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?
That's why we need to using the wallet with backup options. Online ETH wallet like myetherwallet is already forcing the users to safe the private key from the beginning. With this strategy, myetherwallet is not responsible if one day the site is gone because server done or something bad happening. |
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guoyu78
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June 13, 2019, 05:25:16 AM |
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If you store coins in online wallets and if the site disappears in a sudden one day, you will lose everything.
Are you scared?
Since you already have phobia for this, or since your instinct is telling you something regarding that, don’t you think you should move your coin into desktop wallet where you can have your private keys and to me, I think it is safer for me to use, I have never thought of saving my coin on an online wallet, because the company in charge of maintaining the wallet might be active now, and probably go bankrupt tomorrow and decide to close down. Looks at how many people have lost their investment in cryptopia, and this exchange use to have full trust of people, but eventually when they saw problem they ever envisage, they ended up collapsing with client’s money. |
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jerry0
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June 13, 2019, 05:40:16 AM |
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What about a site like myetherwallet then? That is i believe an online wallet. So that site is not safe then?
What if you use myetherwallet with your nano ledger because that coin is either not compatible with nano ledger or has their own wallet so only solution is myetherwallet?
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aioc
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June 13, 2019, 06:09:40 AM |
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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 the online wallet is open source and it was verified that the private keys cannot and will not be stored or compromised, I'm ok with it, I can use other wallets, online or desktop as long as I still have my keys on me, there was a time in the past thet Myetherwallet was offline but no wallets are compromised unless it was hacked. |
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davinchi
Legendary
Offline
Activity: 2100
Merit: 1058
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June 13, 2019, 10:07:04 AM |
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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
Do I call It nonchalant attitude, or do I say that some investors are being hypnotized by these online wallet providers? Because I don’t see reason why any investor will in its clear eyes just choose to hold his or her coins on an online wallet when they know fully well of the risk involved. Online wallet are the worst place you can keep an investment and if anything happens to them now, I am not sure they have any means of refunding their users, which is why some of them that have failed will just pack up and leave without ever putting the investment holders into consideration. |
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