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Author Topic: Why say "NO" to Web wallet  (Read 511 times)
bitmover
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November 11, 2019, 11:25:09 AM
 #41

There is Guarda which is non custodial and stores data locally and not centralized on a server. Even Blockchain has a non custodial version but I dont remember the details.
Am I wrong?

Yes, you're wrong and you keep on being wrong.
From the start, as Tryninja pointed out, not most, but almost all wallets are NOT browser-based.
Guarda comes with either a web wallet hosted on their server or a standalone wallet not related to your browser.

I hard it hard for somebody to mistake a web wallet and call it browser-based because you access it via a browser, but I really can;t find any other reason why you would say this.

Browser based wallets, which stores data locally, are common in ethereum network.
They are safer imo, compared to web wallets. Those browser based are like desktop wallets. They are safer because there is xentral server which can be hacked to steal your coins : the hacker would need to hack your computer.

Those browser based wallets are more common in ethereum because there are no good desktop Wallets for ethereum. Have you ever seen one?
On the other hand bitcoin has a lot of good desktop wallets.

So I believe browser based wallets (like metamask) are a workaround , because they can't make good desktop Wallets

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November 11, 2019, 07:00:44 PM
 #42

Web wallets has had a history of insecurity and if you do a little research, you would discover that most of the phishing scams involving cryptocurrency wallets were done with a web wallet, applications are much more secure in my opinion because I think that whena hacker can't even identify a domain, then they wouldn't be able to hack it.

Even the biggest web wallet has been hacked in the past by a good Samaritan hacker who later returned the funds and you could read the article here: https://www.coindesk.com/good-samaritan-blockchain-hacker-returned-255-btc-speaks
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November 12, 2019, 12:44:05 PM
 #43

Nothing is safe as long as your money is controlled by others, so if you are in doubt using the services of others, you can use a hardware wallet that is managed by yourself.
but now everything has evolved, they have added several security features, and so far news of the hack has been reduced.

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November 12, 2019, 02:04:49 PM
 #44

After these anomalies in web wallet, I stop using them to store my coins all my wallets are now desktop based and I secure it by taking all the necessary precautions like installing the best antivirus and anti-malware, only use a web wallet to store a little number of tokens, or if you are good and educated in how a phishing site looks like, metacert is a big help but it will not guaranty safety.


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November 12, 2019, 02:46:54 PM
 #45

Its not safe to use web wallet because i think it can be hacked easily and save the private key of the wallet address which very important. That's why it is much safer to use the wallet on pc and hardware wallet that is legit.
 
And i think using wallet like Metamask is much than the myetherwallet website because it needs a. Json file and other informatiion need that can be at risk getting hacked.
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November 12, 2019, 03:05:16 PM
 #46

Never encountered something like this on coinbase unlucky for you. I guess not all web wallets are safe. Looks like in coinbase you dont own the private keys right? Its better to use a web wallet that you have full control of the private keys it feels not comfortable putting big amounts there.
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November 13, 2019, 06:45:40 AM
 #47

Storing bitcoins on custodial wallets like Coinbase for a long period of time is not advisable op, next time use desktop wallets that you can easily recover your bitcoins whenever you need it bitcoin core, electrum, exodus, mycelium there are plenty of it you can use for free, most users only use coinbase for buying and selling bitcoins, fiat conversions but not for storage purposes. 

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November 13, 2019, 10:12:15 AM
 #48

Browser based wallets, which stores data locally, are common in ethereum network.
They are safer imo, compared to web wallets. Those browser based are like desktop wallets. They are safer because there is xentral server which can be hacked to steal your coins : the hacker would need to hack your computer.

They are more secure than a web wallet, yes.
But they are by far not as secure as a desktop wallet.


There are still many attack vectors which would allow to steal funds from a user using a browser-based wallet, compared to a desktop wallet. DNS poisining, etc. The attacker does not always need to compromise your device.
On the other hand, there is no attack vector i can think of which applies to a desktop wallet, but not to a browser based one.

There is a big difference regarding security between a browser based wallet accessed by typing an URL into the address bar and a desktop wallet.

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November 13, 2019, 10:41:58 AM
 #49

Those browser based wallets are more common in ethereum because there are no good desktop Wallets for ethereum. Have you ever seen one?
On the other hand bitcoin has a lot of good desktop wallets.

Oh my bad, I thought we are in the Bitcoin section, no the altcoin discussion  Cheesy

Those browser based are like desktop wallets. They are safer because there is xentral server which can be hacked to steal your coins : the hacker would need to hack your computer.

Nope, the hacker needs to infect your browser.
And if you plan on having a separate browser for every coin to keep secure, why not stick to a traditional wallet?
Oh, wait, because the shitcoin doesn't have a proper wallet...

In my opinion, the choice is pretty simple, I can invest in some gold that I can keep in a safe, or I can invest in some platinum that I must hide under my doormat.

Let's not even talk about the deadly combination of a web browser and pornhub.. Grin

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November 13, 2019, 11:10:31 AM
 #50

Never encountered something like this on coinbase unlucky for you. I guess not all web wallets are safe. Looks like in coinbase you dont own the private keys right? Its better to use a web wallet that you have full control of the private keys it feels not comfortable putting big amounts there.
Actually I have use coinbase wallet for long now and I haven't encountered any problem. Even deposit and withdrawal in coinbase all transactions went well. Aside from web wallet I use hardware wallet which is also safe to use for me. Right it is not safe to store big amount of btc in a web wallet and I don't trust easily better use a secure wallet to avoid problem.
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November 13, 2019, 12:34:22 PM
 #51

Those browser based wallets are more common in ethereum because there are no good desktop Wallets for ethereum. Have you ever seen one?
On the other hand bitcoin has a lot of good desktop wallets.

Oh my bad, I thought we are in the Bitcoin section, no the altcoin discussion  Cheesy
Can't be bash shitcoins here? Lol

When I discovered cryptocurrencies I bought a lot of ethereum, then I realized they don't even have a proper desktop wallet...

Anyway, as the discussion turned over browser wallet, which bitcoin doesn't have any one that I am aware of

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