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ccsang
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June 13, 2019, 12:26:31 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
Absolutely right, hardware wallet secure your coins by storing them offline and away from hackers, it's protect your valuable assets. There are different types of online wallet, I only know that myetherwallet is open source, client-side browser based Ethereum wallet and private key is keep by user. I won't let it happen because most of my crypto assets is store on offline wallet, only keep some amount on exchanges for trading. |
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maldini
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June 13, 2019, 11:45:17 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?
not afraid at all while I use an online wallet that is referenced directly from the official website. But if I save my coins in an online wallet that has negative feedback, it is clear that I will be afraid because I might lose money. But I think now people here are smart in choosing an online wallet, of course they use a referral wallet from the official website of their coins and if they continue to lose money then the coin developer must be responsible. |
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btcsmlcmnr
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June 13, 2019, 11:59:04 PM |
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It is always bad idea to store your coins online. It is not only because you don't have full control of your private keys or seeds, but also risks of sites' shutting down anytime. I don't see strongly convincing reasons to use hardware wallets. Of course, if you want to use hardware wallets, you can do it because it provides you safe storage method. However, if you don't have enough budget to buy hardware wallets, just learn how to secure your coins with available wallets for iOS or Windows that officially provides by developers. Setting up strong password for your wallets, save your private keys (seeds) safely in different locations and prevent damages from water, fire, and so on. Then, you will be fine, even without hardware wallets
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Cryptrx
Jr. Member
 Offline
Activity: 498
Merit: 1
Worlds Simplest Cryptocurrency Wallet
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June 14, 2019, 12:40:05 AM |
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Users should be careful of the type of wallets they use to store their coins. I won't advise anyone to store his or her coin in an online wallet, I won't even trust them in the first place.
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World's Simplest and Safest Decentralized Cryptocurrency Wallet!
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fortunecrypto
Legendary
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Activity: 2450
Merit: 1047
thecryptocurrency.directory
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June 14, 2019, 02:13:41 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?
This is not something it happens in the past because of server update, but if the site was created in open source code and coders have proven that it is safe to use the site and your key will not be stored, then we have nothing to worry about, we just use other online or desktop wallet as long as we have the private key we have control of our coins. |
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chocopapaya
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June 14, 2019, 02:44:32 AM |
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Ummmmm, that's not necessarily the case.
Your coins never truly disappear.
In fact, your coins aren't even really coins.
It's all just numbers on the blockchain.
The blockchain is open for anyone to see and use.
But specific numbers (your coins) at addresses on the blockchain can't be moved unless you have the private key to that address.
It's important to know this because the truth about wallets, is that they are only graphic user interfaces.
You technically don't need it to access your coins.
So if your wallet was an online one, and the site disappears, you are still ok as long as you have sole access to your keys.
Watch some youtube videos on how to look at a blockchain explorer, you will be able to see if your coins are still on the blockchain.
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magicrypto
Copper Member
Jr. Member
Offline
Activity: 812
Merit: 6
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June 14, 2019, 06:51:29 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?
You mean exchanges? Because there are a few wallets which dont gave you a private key, other are giving you a private key when you register to them, so if they dissapear, you can go to another wallet, export private key and get acess to your wallet. Online wallet is just a shell, your funds storing in blockchain, not in online wallet. |
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michellee
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June 14, 2019, 07:25:05 AM |
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Users should be careful of the type of wallets they use to store their coins. I won't advise anyone to store his or her coin in an online wallet, I won't even trust them in the first place.
If that is an online wallet or the exchanges, I still worried because we don't know how they can protect our account. I heard many exchanges get hacked by the hacker, and it makes the customer lost their coins, and some exchanges cannot replace the lost coins. I know that is sad, but we cannot do anything except we save the coin in a separate wallet. |
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Thanasis
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June 14, 2019, 07:27:06 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?
Even if the wallet dissappears you can import the coins into other wallet when you have private keys but if you are not having any private keys then you lost your funds. But normally this happens with exchanges not with wallets so don't tore any coins if you are not controlling the private keys. |
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Gridness
Copper Member
Jr. Member
Offline
Activity: 358
Merit: 2
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June 14, 2019, 09:07:30 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?
very simple to anticipate what will happen just keep it in the hardware wallet |
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Apes
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June 14, 2019, 09:21:13 AM |
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use wallet services trusted and recommended by the community. the possibility of losing access may happen if the service site stops operating.
anyway why choose untrusted wallet services, because there are many trusted services that provide free wallets.
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qazgroup
Member
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Activity: 1022
Merit: 20
RiveMont
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June 14, 2019, 09:32:31 AM |
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That is why it is important that we create account at reputed wallets and websites only and also always only create a wallet and store our coins at a wallet that also offers us private keys to the wallet so in case of that wallet closing we can still import our wallet in another private key option wallet and reduce our risk.
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jerry0
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June 15, 2019, 06:30:01 AM |
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Say you have a coin like powerledger. You keep it on binance... an exchange. You like to put it in own wallet my powerledger does not have own wallet. I read you have to use myetherwallet. And that is online wallet. Also i read you can use it with myetherwallet and nano ledger s. So if something happens to myetherwallet, what happens to your powerledger then? Well you have it connected with the nano ledger s. But if something happens to myetherwallet, what happens?
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rosezionjohn
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June 15, 2019, 07:33:28 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
No back ups or private keys? I don't think you have the right information about online wallets like MEW for example. You control seed pharases, private keys, json file etc. You can still access your MEW address even if the site is down by importing it thru IMToken. |
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tracyhayley
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June 21, 2019, 11:15:23 PM |
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I didn't use my online wallet too often. I never put all of my coin in online wallet for so long. I used hardware to store my coin/token. I think online wallet such as blockchain or myetherwallet won't disappeared without any warning.
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altcoinhunter01
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June 23, 2019, 02:33:10 AM |
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I always prefer hardware/cold wallet to hold my coins as no one knows when we face this type of problem. Hardware wallets are also fully secured from any online attacks.
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dobolspeed3
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June 23, 2019, 02:42:11 AM |
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I always prefer hardware/cold wallet to hold my coins as no one knows when we face this type of problem. Hardware wallets are also fully secured from any online attacks.
It is highly recommended to use the wallet. But most people here haven't used it yet. More people still use MEW for their wallets. I also still use MEW for every coin / token that I have. Actually I want to use the wallet but still don't have it. |
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Flor1982
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June 23, 2019, 02:51:28 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?
Everyone are scared of course specially if involves huge amount of cryptos but to minimize the risks never put your assets in exchanges wallet or only used the most trusted site like myetherwallet.com for ERC20 coins as this site will ensure to avoid mistakes because their reputation is at stake. You may use Nano Ledger S as an offline wallet that although expensive but its worth it specially huge assets are concern. |
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Averim
Member
Offline
Activity: 515
Merit: 12
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June 23, 2019, 03:15:28 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?
Is it actually possible? I mean the panic grabs me..I suppose everyone is afraid of such things, right? |
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michellee
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June 23, 2019, 04:39:32 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?
Is it actually possible? I mean the panic grabs me..I suppose everyone is afraid of such things, right? I think that will makes people panic because they have their coins in that site. That is why you don't need to store all of your coins online because you can save it in the hardware which you can buy at a cheap price. It is a risk to store your coins in online because you never know how long the website can running and give the service. So when you want to store the coins on the website, you need to think about the other solution which will give you safety on storing the coins, and you should choose with the offline wallet. |
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