Online Wallet - Site Disappears

[Pffrt]

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

Are you scared?

Why even you do need to store your coin in online web wallet where you can use qt wallet for storing your coins? All of the coin has its own secured wallet and you should only use this. No web wallet is preferred because you are not the owner of private keys.

[perla]

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,  but usually i not really save bitcoin in online wallet. I use ledger nano and maybe for ETH tokens, i still use private key to access my wallet. If we still hold private key, we can open it anywhere. But in case we talk about wallet and not exchangers.

[Bezobraznike]

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,  but usually i not really save bitcoin in online wallet. I use ledger nano and maybe for ETH tokens, i still use private key to access my wallet. If we still hold private key, we can open it anywhere. But in case we talk about wallet and not exchangers.

   Nobody, with at least some knowledge about crypto-currencies, would hold coins in some wallet without private keys.
   If you don`t have private keys, you don`t own coins. It`s something anyone needs to learn before investing in crypto-currencies.
 Mostly, people think about the profit and how to make money, safety is on second or third place. People start to think about the safety
only after they lose coins.

[jessyj48]

I've learnt a lot from crypto space in the past and one of them is trusting an online wallet that ends up vanished with my coins since then I stop using online wallets and I learnt about offline wallet and private keys so till date I only use wallets with backup phrase or private keys

[Jrfranco]

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

Are you scared?

Yup i am scared to that because my tokens are stored Online for the time being, as i dont have yet a physical wallet, but talking about mew i dont think it will disappear.

[sandra_x]

If you do not hold the private keys to a wallet, someone else does, every wallet address must have a corresponding private keys.It therefore does not make sense if a third party holds the keys to your funds,same reason it is not wise to use an exchange as a means of storing your crypto

[Leonardo7]

Never store your coins in a wallet you have not a private key to, It will be very deadly when such wallet provider has issues. And always check too if the private keys can be successfully imported to other wallets, this is very key, otherwise, just transfer off your asset to a better wallet and delete the troubled wallet.

[efrenbilantok]

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 it is scary when you don't own your private key because you may lost everything, that's why you must choose a non-custodial wallet in order for you to be safe. I suggest everyone to store their coins in a paperwallet for a much secured wallet.

[Fredomago]

No, I am not scared about it. Because I believe those online wallets where I store my coins. Blockchain, Coinbase, Metamask, Myerherwallet are not here to disappear. Though I am a regular Ledger Nano S user but still I use these online wallets too and I feel safe there except MEW in case of hack!

Those selections of wallets are already been there for quite some time, but it's still not advisable to place your money without your full control, OP's needs to learn more about crypto so when he's going to invest huge amount of money he'll be able to designate a good hardware wallet to keep his investment and be sure to have the full access and control of his money.

[guoyu78]

No, I am not scared about it. Because I believe those online wallets where I store my coins. Blockchain, Coinbase, Metamask, Myerherwallet are not here to disappear. Though I am a regular Ledger Nano S user but still I use these online wallets too and I feel safe there except MEW in case of hack!

Those selections of wallets are already been there for quite some time, but it's still not advisable to place your money without your full control, OP's needs to learn more about crypto so when he's going to invest huge amount of money he'll be able to designate a good hardware wallet to keep his investment and be sure to have the full access and control of his money.

When it comes to keeping money in a wallet for a long term project, I think the best wallets to ever keep ones fund should strictly any one that can provide a private key that the investor can use to personally control his account at any time. Sometimes, the issue with the online wallets is not because they will disappear, but because hackers could have control or access into the user’s account and steal fund from such wallet, so it is very necessary for one to personally safeguard ones account, in which the best way to do so is just to own a wallet with private keys, otherwise hardware would just do best, most especially people that have extremely large investment in any of the cryptocurrency they are holding.

[xenomorphe1]

Yes, this can happen. It can make you lose all your coins. That's why you should use a wallet where you have access to your private keys.
But the worst is the disappearing of the coin. Having a coin in your own wallet doesn't protect you from this. I have witness some disappearing of coins like WhaleCoin.
And some airdrops have never been listed on an exchange and just disappeared.

[SaRmY]

Site)) can not be. But if one day the cryptocurrency disappears, then yes. That is the layout I'm afraid of. Any project can actually cease to exist. That example was IDAX Birds and stole $ 5m and that means. Scammers waited for net profit and disappeared)

[OptimusPrime_3]

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 I use a web wallet,  and it doesn't issue me a private key or mnemonic to store then I can't use such Wallet and yes even if I use such wallet, I will be scared of course if in any case that's the only available Wallet to use.

[EdenDice]

No, I am not scared about it. Because I believe those online wallets where I store my coins. Blockchain, Coinbase, Metamask, Myerherwallet are not here to disappear. Though I am a regular Ledger Nano S user but still I use these online wallets too and I feel safe there except MEW in case of hack!

[Pelana vreo]

I would be afraid when I have lots of coins in my wallet online, there are always ways to save coins, desktop wallets, and other applications that currently support a lot of coins, and I don't worry too much about always key phrases and passwords in my control. then my crypto asset will not disappear unless you save it on the exchange so you need to be afraid because some exchanges use a hot wallet

[flemmings02]

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.

Don't be so sure of any site to keep your funds safe for you, If you need people to help you keep your funds then you should to your native banks, the major reason for blockchain and cryptocurrency is for you to be the sole dictator of your funds.

[Koobtcgal]

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

Are you scared?

Online wallet? It all depends on the type of site. Some sites provide you the private keys so that in case you want to use them on a desktop, it can be possible. If you are afraid of losing your money on an online wallet, then it is better to get a desktop or mobile app wallet  which are very handy these day with improved user interface.

[Chikito]

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

When you want to store online wallet, You have know what kind wallet there, private key and seed it can be use for any wallet, like MEW, when you have private key it can be use for any kind like metamask, cryptostore. it shouldn't scare when your private key can use any kind of wallet when online wallet your stored dissapear.

[iphmp159]

Projects have their own-built wallets, so I don't really understand why people are too lazy to use online wallets, that are risky for sure. Using online wallets, they don't have control on their private keys or seeds, and might lose their funds at any time (if sites shut down, or owners of those sites do scam exits and steal users' funds).

[NavI_027]

[snip]

Scared? Of course I will feel more than that because it is so devastating to lose all of your coin in a glance. It is like feeling broke and helpless at the same time and you don't have any choice but to move on, that sucks .

Projects have their own-built wallets, so I don't really understand why people are too lazy to use online wallets, that are risky for sure. Using online wallets, they don't have control on their private keys or seeds, and might lose their funds at any time (if sites shut down, or owners of those sites do scam exits and steal users' funds).

Yeah, you're right! If such coin got its own wallet then it should be the one which you will use above any options out there. However, if it's not then I also see no threats of using online wallets as long as it was proven legit and already running for a long period of time. The best example is MEW.