Are your coins really safe stored in your wallet?

[Kemarit]

How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

To be honest, not all wallets are safe, it could be hack, your coins stolen, and there are a lot of point of entry for you to lose your coins not just from hackers and criminals. Let's say your house got burn and your hardware wallet is store there and your back up. So it's better to have a backup somewhere else, maybe in bank vault or something. So it's matter on how to practice security or even privacy hygiene to protect yourself from losing your Bitcoins.

[ultrloa]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

Depends on the wallet you choose on where you stored your balance since if you just leave it on web wallets then most provably you will get hack if the wallet provider you choose got hit by certain hackers. But this also depends on how you handle your wallet so I best to choose the best wallet and those are hardware wallets which you can safely leave your money there. But overall about this you should keep your wallet safe away from phising sites since mostly this one hit the most of newbie investor and they always fall in the trap that's why they lose their own hard earn money.

[Oasisman]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

Nothing is stored in your Btc wallet but your private keys. Once you have it, you will have the control on sending all the coins associated with that Btc address.
Now, when it comes to safety, hardware wallet would be the most secure (from online attacks). However, there's a very rare chances that you'll going to be attacked by someone physically and forcefully to take your Bitcoins away.
That's basically the same as  bank robbers robbing the bank vaults.

[evilgreed]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

               You see op, Bitcoin itself and it's blockchain technology is well made and is pretty safe compared to banks nowadays. Now, the extent of this safety doesn't rely on wallets and bitcoin along with it's blockchain technology alone. If human error is involved, then even if bitcoin is safe, it wouldn't matter. For example if you accidentally pasted a private key instead of an address and it gets notifed by someonw, then it would likely be stolen. So it's safety really depends on the person holding the keys.

[Mpamaegbu]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

Even with banks, the safety of one's funds to a greater extent depends on one as the account holder. This is the simple reason banks tend to lay the blame on distressed customers who complain of illicit transactions on their accounts. Banks tend to blame these customers first before anything else. The first questions are often around how did the account holder handle their ATM cards and apps. They want to know first if it was compromised on the part of the account holder before digging deep. It shows that the safety of any account is with the holder. It's the same thing I see with cryptos. It doesn't really matter if the wallets and apps are the safest in the world. Once the holder isn't security conscious and takes steps to safeguard their account, and it gets into a wrong hand it's all gone. So, security of wallets is self dependent.

[Marvell1]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

You know that nothing is absolutely safe even when you deposit money in the bank. The security of your coins depends on your choice of wallet and where you store your keys. The best way is that you should choose for yourself a hardware wallet, hardware wallet is considered the safest solution today to store coins and your job is to keep the key where you think is the safest. That's all we can do.

[jaberwock]

Have different between bank and bitcoin wallet as saving our money, I think bank controlling by many people from staff and security working on bank know with our data, in my country several time member loss their money on the bank and different with crypto as saving fund, only you are the controlling there and not any one know with your phrase or id about your wallet, not any one can access to your wallet depending how keep secure your data saving.

People don’t just mysteriously have the money in their bank account disappear for no reason (unless you mean the fees that banks do charge). Same way that you have hackers in the cryptocurrency community looking for those that they can hack their wallets are the same way you have them in banks and your family members must have fallen for one of them, because I have seen such situations where people fall for tricks from hackers and they wipe up their bank accounts, yes it happens, which is why your bank will warn you not to give out information about your account like pin, card number, etc.

Same way that you shouldn’t be giving out information about cryptocurrency wallet or your emails that carries important information, because they can be hacked and if you’re storing something there, hackers will go through it to access other things.

[Crypto Library]

You are right, but if I say so, there are more or less unexpected events in both places. But in my opinion, our cryptocurrency decentralized wallets are largely safe from banks. Because you are the only owner of this wallet. First of all, your role in protecting it. If you can keep the secret phrase of wallets in the right place and keep yourself away from unwanted phishing websites then I think your wallet will be more secure from the bank. And there is a hardware wallet for more security

[btc78]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

Had been holding my coins for years(though they come and go because I sell them sometimes and Buy sometimes) but till now they are all safe mate , never experience something serious though there are delays in transactions or experiencing congestion but all in all? safe and all are intact as far as i know.
But Of course I am not taking out the compromising part but still? i can carry and better.

[alik111]

Your coins are really safe when you store your assets in a decentralized wallet.If you use centralized wallet or exchange, you will have no access of your private keys. So make your funds secured by holding in personal decentralized wallet.

[haasanjui]

Yes! My coins are safe in my wallet because I not have shared my private key from anyone. And not opened any phishing link in my wallet and i have opened private key option of my Wallet. Now anyone will login or make transaction it will ask passcode.

[bitzizzix]

Your bitcoins are stored on the blockchain very securely and your private keys are stored in your wallet and only provide access for transactions there including sending your bitcoins in exchange for $ you need your private key.
always use hardware wallets for security and don't store your access keys online anywhere, your keys will be safe as long as you keep them very secure.

[Wimex]

The virtual wallets that store any cryptocurrency are mostly reliable, they have certain security systems trained to protect their assets; When deciding on one of the most recognized ones such as the of Coinbase or Binance, it will depend much more on its benefits than on the guarantee of its protection. I believe that the danger would fall more at the time of transferring these coins to someone else, since there are too many malware attentive to swindle, so I would advise being aware of each movement in order to carry out the transfer without any inconvenience.


SOURCE: https://cointelegraph.com/news/bitcoin-stealing-malware-bitter-reminder-for-crypto-users-to-stay-vigilant

[Alisha FR]

the security of altcoins stored in the wallet only because they are hacked if we don't make strong security, for example creating some codes to login, and making notifications especially when there is a login attempt on a device that we don't recognize. and talking about finances at this bank will be different, in the bank there will be very many managers, and the security of our money is entirely the responsibility of the bank concerned. I think both are very safe. and in the wallet should create strong security on the blockchain.

[Emitdama]

In a case similar to what you have compared to with banks which is robbery, if someone sees cryptocurrency wallet in your phone they can force you at gunpoint send cryptocurrency from that wallet to their wallet if they have one. You can be robbed of cryptocurrency just the same way that banks can get robbed.

I have read such a story years back, which is why you will have to be careful and keep things that has to do with your finance away from the public, keep it to yourself. Then make sure that you don’t let anyone get easy access to your private keys, and also don’t store your coins on online wallets or exchanges that can be hacked.

[isaac_clarke22]

~

As long as you don't really connect to the internet, there ain't much to be worried about. This is why I write the seeds and private key of my isolated wallet in a piece of paper and hide it in somewhere...private.
Just avoid web wallets or online wallets if you're genuinely concerned about your coins. Don't get that precious Bitcoin of yours get frozen by a third-party authorities just because they thought that you were doing money laundering.

[Mahanton]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

As long you dont expose your keys then you would really be assuring that your coins is on the safe side.

1. Chances of Brute forcing a PK?
https://decrypt.co/43093/how-hard-is-it-to-brute-force-a-bitcoin-private-key
Not that realistic.. Quantum? We arent still there yet.

2. Storage physical risks (wet,burned,lost etc.)
This is where i do say that a certain user should be minding off.

[Wexnident]

The wallet itself is like how you think banks treat the money they store, just that, it's in a much smaller scale which makes it a LOT easier (depending on how you look at it) to hide and keep. I mean if you were to ask me to protect multiple wallets vs a single wallet, I'd go for the single one.

As for bruteforcing PKs, pretty sure we're still far off from being able to pull that off. So as long as YOU keep it safe, everything should be fine, since that PK is like the sole key to your own bank. 

[Rengga Jati]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

Nothing will go work 100% safe in this world. That is also for the Bitcoin wallet. Moreover, if we save our Bitcoin in an online wallet, it definitely still has high risk to be lost because of hackers, malware, phishing, and other criminals. That is why we are supposed to use a hardware wallet if going to save our Bitcoin more safely, it's not also 100% safe but it is safer enough than an online wallet. A hardware wallet is very recommended to save our assets.
However, at least, we can secure our data in order to avoid from being hacked or phising or other scams or fraud.
We must be careful when saving the important data suhc as private key, password, PIN< phrase, seeds, and other important data. Only trust anyone that we exactly know that he or she is exactly trusted. But better to save it with yours

[|MINER|]

I think your coins really safe  in your wallet .A big reason behind this is that these wallets are managed through blockchain network. Currently blockchain networks are extremely highly secure. Bitcoin Ethereum is one of them. And if the secret phrase or private key of these wallets can be kept in a well protected place then I think it is much better than a bank statement. And there is  hardware wallet especially for security .