Bitcoin Forum
May 13, 2024, 10:50:30 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: My questions regarding wallet  (Read 332 times)
o_e_l_e_o
In memoriam
Legendary
*
Offline Offline

Activity: 2268
Merit: 18515


View Profile
July 08, 2022, 08:18:48 AM
Merited by ABCbits (1)
 #21

I am sorry, not bitcoin.com it's blockchain.com
Blockchain.com is still a poor choice for a wallet, I'm afraid. First off, it is a web wallet, which is the least secure type of wallet available. The wallet is permanently online, which opens it to the possibility of constant attacks. It is run through a browser, which for most people are very insecure. It is protected only by a simple password, which can be brute forced, reset, socially engineered, phished, and so on. Since it is a third party website, you have no idea what is happening on the back end, and must take everything on trust. You have no idea whether the seed phrase they give you is actually securely generated and you have no way to be sure that they do not have access to your private keys. Further, they have suffered from some serious vulnerabilities in the past, including very basic things like reusing k values which resulted in thousands of bitcoin being stolen.

I would move any coins from blockchain.com to a hardware wallet as soon as realistically possible.
"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715597430
Hero Member
*
Offline Offline

Posts: 1715597430

View Profile Personal Message (Offline)

Ignore
1715597430
Reply with quote  #2

1715597430
Report to moderator
1715597430
Hero Member
*
Offline Offline

Posts: 1715597430

View Profile Personal Message (Offline)

Ignore
1715597430
Reply with quote  #2

1715597430
Report to moderator
hashrateproducts
Full Member
***
Offline Offline

Activity: 560
Merit: 143


Active 24/7


View Profile
July 14, 2022, 06:24:19 AM
 #22

I am sorry, not bitcoin.com it's blockchain.com
Blockchain.com is still a poor choice for a wallet, I'm afraid. First off, it is a web wallet, which is the least secure type of wallet available. The wallet is permanently online, which opens it to the possibility of constant attacks. It is run through a browser, which for most people are very insecure. It is protected only by a simple password, which can be brute forced, reset, socially engineered, phished, and so on. Since it is a third party website, you have no idea what is happening on the back end, and must take everything on trust. You have no idea whether the seed phrase they give you is actually securely generated and you have no way to be sure that they do not have access to your private keys. Further, they have suffered from some serious vulnerabilities in the past, including very basic things like reusing k values which resulted in thousands of bitcoin being stolen.

I would move any coins from blockchain.com to a hardware wallet as soon as realistically possible.
Blockchain can be easily accessible by hackers and it's very dangerous for people who store their tokens their in other for long term purposes. Blockchain don't have the kind of security other wallets have like the top one presently is Trezor model T. It's means of security is definitely a strong one as hardware Wallet and have two factor authentication for security purposes. Although there are still several wallet good enough for storage of coins like the underrate coinbase.

Free space
o_e_l_e_o
In memoriam
Legendary
*
Offline Offline

Activity: 2268
Merit: 18515


View Profile
July 14, 2022, 08:41:50 AM
 #23

Although there are still several wallet good enough for storage of coins like the underrate coinbase.
Coinbase wallet isn't a good choice either. It is closed source, meaning you have absolutely no idea what it is doing in the background or how good or otherwise its security is. It connects via Coinbase's servers, so you have absolutely zero privacy and Coinbase are well known for harvesting every shred of data they can about you and selling that to third parties, so if you use Coinbase wallet then your addresses and transactions are almost certainly being fed to blockchain analysis companies, government agencies, and anyone else who is interested. It lacks many features such as coin control.
If you are not going to use a hardware wallet, then you should at least use a reputable and open source software wallet such as Electrum.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!