Stay away from centralized wallets

[SvonioneFromMangoCoinz]

in fact it only happens to some of the wallets that do not have credibility. Coinbase is a big exchange for Americans and they only support them, in addition to foreign users will be easy to lose money and not supported. This is one of Coinbase's weaknesses and that's why it doesn't make a lot of impact. Right now, we have a better centralized wallet, Blockchain. I have tried it for the last 7 months and did not have any inconvenience and it is very safe.

[Kong Hey Pakboy]

Do you even know the difference between Centralized wallets and Dec wallets? Days back I lost my coinbase account and the team aren't helping, I'm glad I only have little Bitcoin on the account, would have been a different story if I use coinomi or atomic wallet because they give users 💯 control over their funds, private keys and recovery seed are important, always remember that

Example of Centralized wallets
1. Coinbase
2. Nexo
3. Luno
4. Xapo
5. Freewallet

Any wallets that ask you create an account with mail and password is centralized, they monitor your private keys for you, be smart

To be honest, i have used coinbase to store some of my bitcoins, but i have never face any problems like that because Coinbase is one of the biggest exchange that was already used by most crypto users. I know that centralized wallets aren't really that safe for hackers, but maybe the reason why the team members aren't responding because they assume that you are just bluffing pretending that you are just someone else.

[FireBallex]

Do you even know the difference between Centralized wallets and Dec wallets? Days back I lost my coinbase account and the team aren't helping, I'm glad I only have little Bitcoin on the account, would have been a different story if I use coinomi or atomic wallet because they give users 💯 control over their funds, private keys and recovery seed are important, always remember that

Example of Centralized wallets
1. Coinbase
2. Nexo
3. Luno
4. Xapo
5. Freewallet

Any wallets that ask you create an account with mail and password is centralized, they monitor your private keys for you, be smart

Describe your case with Coinbase better and how you lost your account there. As I know their support is quite friendly and helping when they can. I know 1 guy who got hacked his coinbase account and only fast reaction of the  coinbase support saved his money

Coinbase is a big company in crypto space, that's undeniable but the fact is they stay centralized, no one can change that fact, decentralized wallets are safer, whether coinbase team are fast in response or not, Centralized will always remain centralized

[mr.robot8]

obviously i prefer the decentralized wallets of which the developers do not hold the private keys which are generated directly within the app itself and which do not require sensitive user data

[Ramaraj]

Cryptocurrency wallets are made to store advanced resources, oversee security issues like sparing mystery keys and personality checks. To tell you the best  Multi-crypto wallet is significantly more secure than the trading stages as a long string, which is alluded to as the key speaks to the location of your portfolio and produced through refined cryptography strategies.

Security on the web is akin to game of whack-a-mole and your level of security will likely scale accordingly with the amount of sensitive data (or crypto assets) that you are protecting.

While there is no such thing as an ‘unhackable’ system, there are valuable steps that you can take to drastically reduce your likelihood of compromise.

Always remember to:

Use complex and unique passwords
Create a separate/dedicated email account for crypto services
Use two-factor authentication
Store most (if not all) of your funds on wallets
Be wary of phishing emails
Good luck and stay safe!

This guide will help you to find the best Bitcoin wallet or cryptocurrency wallet for YOU!
https://medium.com/ramcrypto-publication/top-5-best-cryptocurrency-wallets-in-2020-649a4bf29c94

[Mahanton]

obviously i prefer the decentralized wallets of which the developers do not hold the private keys which are generated directly within the app itself and which do not require sensitive user data

Its always been said for how many times already that we shouldnt store up our coins on custodial wallets or we dont have the possession of its private keys
because we know that it is way more riskier if we dont have access to those keys because anytime those wallets will surely stole our coins unlike on
using wallets that are open-source or you do have the access to its private keys which we do have the full control of it.

[Rajasekar]

Hi, What would I say for the Custodial and Non-Custodial both wallets are safe but it's based on their security system. The security system must have certain rules like specialized security layer, Multiple authentication methods, Voice recognition, transaction password, mobile device identification, and biometric systems. These security features must be noted by users.

For 1 year, I'm using Aladdin wallet 1st they launched a non-custodial wallet only for ABBC Coin that time I have ABBC Coin that's what I have used the Aladdin wallet to store my assets. after that, they launched their Custodial wallet and multi-asset storage wallet. I started to continue using their wallet. Still, now I didn't lose my asset from the beginning. And I have used both custodial and non-custodial wallets it's really amazing and I feel my assets have been safe haven.

So from my side, I would suggest  Aladdin Custodial and Non-custodial wallet when you compare these five centralized wallets. And no one is monitoring my assets. 

[XCANA]

Am very careful about my custodial of fund in the world of cryptocurrency and with others experienced which they have shared on the platform made me to be more cautious about the wallet I used. Currently, I have been using some bitcoin wallets which where actually centralized and latter realized they are the ones that pose dangers to bitcoin investors, as the says goes: "when you're not in charge of your private keys, then be rest assured that the funds are not yours". Stay away from what can cause your funds stolen.

[BlacksmithCorporation]

Does your case have anything special, as far as I know coinbase is a wallet that is appreciated by a lot of people, there are many people recommending it for me to use.

[SirCharles]

Do you even know the difference between Centralized wallets and Dec wallets? Days back I lost my coinbase account and the team aren't helping, I'm glad I only have little Bitcoin on the account, would have been a different story if I use coinomi or atomic wallet because they give users 💯 control over their funds, private keys and recovery seed are important, always remember that

Example of Centralized wallets
1. Coinbase
2. Nexo
3. Luno
4. Xapo
5. Freewallet

Any wallets that ask you create an account with mail and password is centralized, they monitor your private keys for you, be smart

When you say "they monitor your private keys for you," does this mean that you don't have access to your private keys (or they don't give it to you)?

Also, can they easily hack (or get your crypto) if they wanted to?

[ballerin and giroud]

obviously i prefer the decentralized wallets of which the developers do not hold the private keys which are generated directly within the app itself and which do not require sensitive user data

That is true, decentralized exchange is really safe for our personality but you have to aware we use a wallet is not to keep/hold our asset only. But we will make our asset for trading and short term investment which I think we have to get the highest profit from it. Which I think decentralized exchange is still lack of user there and it is mean the volume at the exchange will be less. Different with centralized exchange which have a lot of user and you will have a high chance to gain high profit at there.

[South Park]

Describe your case with Coinbase better and how you lost your account there. As I know their support is quite friendly and helping when they can. I know 1 guy who got hacked his coinbase account and only fast reaction of the  coinbase support saved his money

It is not about being hacked or losing funds. In centralize wallet, you have no access over your fund directly. That's why sometimes you have face a lot of hassle. Coinbase is a good one no doubt but can you believe I had stucked with around 0.10 BTC for couple of hours because they did not let me send BTC. There was no reason, nothing doubting. But if it was no centralize wallet and I had all access, I did not need to wait such long time for sending BTC.

This is the problem with centralized wallets, I remember that at the beginning when I just found out about bitcoin I used a centralized wallet and there were times in which I could not access my coins, at first I did not mind it but as I began learning more about bitcoin I decided to send my coins to a wallet completely under my control, obviously for newbies this can be troublesome because now they need to install a wallet in their computers and they also need to keep their computer free of viruses, but over the long run it is way better than to have your coins in a centralized wallet.

[Nasonn]

In as much as we try to criticise centralized wallets let us not forget that most exchanges with liquidity are also centralized. These wallets are not as bad as they're been portrayed aside cex wallets holding your funds, they seem t OK be easy to use as well for fiat transactions which no Dex wallet has offered so far.

[Nasonn]

In as much as we try to criticise centralized wallets let us not forget that most exchanges with liquidity are also centralized. These wallets are not as bad as they're been portrayed aside cex wallets holding your funds, they seem t OK be easy to use as well for fiat transactions which no Dex wallet has offered so far.

[Alohadanc3]

Yes I am also think the same way. There are lots of centralised wallet available and behind them they got some big name. That's why many new people go there . But if you already know this space or even started to learn about crypto space I would recommend you always go for an decentralised wallet. Better if you use official or official suggested wallet. I always prefer decentralised things cause it's give your power to your hand, you have full control of your asset. And that wahts this crypto spaces' basic idea.

[nikki4]

Do you even know the difference between Centralized wallets and Dec wallets? Days back I lost my coinbase account and the team aren't helping, I'm glad I only have little Bitcoin on the account, would have been a different story if I use coinomi or atomic wallet because they give users 💯 control over their funds, private keys and recovery seed are important, always remember that

Example of Centralized wallets
1. Coinbase
2. Nexo
3. Luno
4. Xapo
5. Freewallet

Any wallets that ask you create an account with mail and password is centralized, they monitor your private keys for you, be smart

This is your personal opinions coinbase wallet. I'm not sure others wallet but coinbase is the best wallet for store your money. You lost something your of your coinbase wallet so you lose your money. What will you do if you lost your private key or recovery seeds. Don't find the answer between centralized and decentralized, just be smart to store your information about wallet.

[Akoldi_ibk]

Just need to add my voice and re-echo it once more as it can never be overemphasised, "Not your keys, not your coins." These centralized wallets might come with additional advantage in terms of wallet setup and user friendliness, however, the user control which is the key of a true cryptowallet is lacking. Anything can happen to users crypto assets and no one would be held responsible. While we stay safe at this period, keep your wallet under your control and your keys in a secure place.

[Botnake]

Just need to add my voice and re-echo it once more as it can never be overemphasised, "Not your keys, not your coins." These centralized wallets might come with additional advantage in terms of wallet setup and user friendliness, however, the user control which is the key of a true cryptowallet is lacking. Anything can happen to users crypto assets and no one would be held responsible. While we stay safe at this period, keep your wallet under your control and your keys in a secure place.

When you put all your coins in a centralized exchange, you should be ready to lose everything as any exchanges now are vulnerable from hacking.
Also, if ever you got a chance to recover what you loss because they have insurance or something or the government supervise them, it will still cause trouble on you as it will take time to get you refund, so it's better to keep your coins in your own wallet, and just put a certain amount in exchange in case you like to trade.

[bittick]

I'm assuming that you were lost your mail address or hacked mail address this how Coinbase team couldn't help you. You haven't any  control over centralized exchange but still centralized exchange is popular. Atomic wallet is great for me from new all wallet but never can be beat Coinbase wallet.

The teal case should he was losing his password to sign in into his account and remember some centralized wallets are truly centralized by never try to give the ability to its users to control their funds. The support service of coinbase wallet is also very bad. I say this based on my experience with it.

[Teinkle]

It is our responsibility to make sure that our money and coins are safely stored at any kinds of wallets decentralized or not. Let's educate ourselves and familiarized on how the crypto works so all of our holdings would be safely stored in any wallets.