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Crypt0Gore (OP)
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November 12, 2022, 12:19:17 PM |
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I want to buy some coins right now and I found out the project has no standalone wallet yet, you can only open a wallet through their online platform and they claimed its fully open source, the name of the project is PoKT Network. I want to know if it's safe to use a web wallet that's open source for a while? I remember Elcetronuem using the same kinda wallet in 2018 and it works very well if you know how to keep private keys safe. https://wallet.pokt.network |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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JeromeTash
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Activity: 2142
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Heisenberg
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November 12, 2022, 09:56:07 PM |
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I want to buy some coins right now and I found out the project has no standalone wallet yet, you can only open a wallet through their online platform and they claimed its fully open source, the name of the project is PoKT Network. I want to know if it's safe to use a web wallet that's open source for a while? I remember Elcetronuem using the same kinda wallet in 2018 and it works very well if you know how to keep private keys safe. https://wallet.pokt.network Yeah, it's open source - https://github.com/pokt-networkWeb wallets are mostly not trusted because chances of getting a phishing attack are so easy. But you can actually create the wallet offline. I just checked it out. The link is from the official site, so there is no need to worry. |
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Stalker22
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November 12, 2022, 10:31:31 PM |
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I don't know much about the PoKT Network project, but since you plan to trust them with your money, there is no reason not to trust their official wallet. I highly recommend bookmarking their official address. It is always best to never access websites through a search engine, especially when using a web wallet. Otherwise, you could accidentally end up on a phishing site. Also, make sure that your computer is clean of malware before accessing your wallet.
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sunsilk
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November 13, 2022, 09:11:49 PM |
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Just as you, I also have no idea about this pokt network. And the typical reaction is not to interact with it if we've got no idea what it is. What are the coins that you want to buy?
Can't you go into those dexes or cexes where you can buy those coins that you want?
It's safer if that's what you're going to do and then just withdraw it eventually there if you're going to do it in a centralized exchange.
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vv181
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November 14, 2022, 09:19:17 AM |
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Just because it has a GitHub organisation account it doesn't mean any particular application is open-sourced. In fact, I can not see any repository that deals with this kind of web wallet. You can search on it with the "web" or "wallet" keyword. It is similar to some people who thought Trust Wallet is open source but it isn't. since you plan to trust them with your money, there is no reason not to trust their official wallet.
Agreed. I also found there is another wallet in case @OP is interested, see https://forum.pokt.network/search?q=wallet. There is an extension-based wallet, just DYOR since I didn't dig deeper about it, although it has the wallet repository available, not like the wallet in OP. |
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Jawhead999
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November 14, 2022, 09:48:42 AM |
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I don't know it's trustworthy or not, but since you want to buy the coin... it doesn't make sense if you don't trust their own wallet isn't because you're also trust with the coin, that' why you want to buy it. I checked Ledger still not support this coin, so it's fine to hold in this wallet until Ledger include it. You should know any web wallet are vulnerable and increase the possibility to get compromised, it's not good to hold huge amount for long time.
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Crypt0Gore (OP)
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November 15, 2022, 04:53:39 AM |
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Thanks for your feedback.
I have bookmarked the wallet link and I have also written down my recovery seed offline but the wallet also forced me to download a .json file, meaning it has a recovery seed and JSON file.
How can I keep JSON file safe? I don't always like .json file from wallets because you need to download them and store them in a more complicated ways.
I can only think of copying into a empty USB flash or do you have a better idea?
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vv181
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November 15, 2022, 09:24:16 AM |
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How can I keep JSON file safe? I don't always like .json file from wallets because you need to download them and store them in a more complicated ways.
I can only think of copying into a empty USB flash or do you have a better idea?
If the JSON itself is not encrypted, it is essential to encrypt it before you store it or make a backup. Generally, it is better to store in 3 locations, preferably in a different location. But if you only store a few amounts, practising basic data security is good enough. Storing it on a USB flash is a plausible idea, but it is not recommended to store long-term data. You can also make use of reputable cloud services. The main idea is, to store and backup in it multiple locations wethers digital or physical, and beforehand make sure the data is encrypted. |
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elda34b
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November 16, 2022, 05:17:00 PM |
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I have bookmarked the wallet link and I have also written down my recovery seed offline but the wallet also forced me to download a .json file, meaning it has a recovery seed and JSON file.
What do you mean by forcing you? I'm pretty sure most wallet will ask for your seed to recover your wallet instead of JSON file as the main recovery option, so losing your JSON file or not creating it is not a big problem as long as you keep your seed safe in one or two backups.
EDIT: Just checked the site, looks like it doesn't support seed generation and just created a keyfile(JSON) for you, which means storing it is mandatory. Are you sure it generate a seed for you? I've double checked and the wallet generation follows the same process (create new wallet, create a password, download keyfile). Are you sure you don't mean passphrase/password instead? |
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jrrsparkles
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Eloncoin.org - Mars, here we come!
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November 17, 2022, 06:17:33 PM |
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I want to buy some coins right now and I found out the project has no standalone wallet yet, you can only open a wallet through their online platform and they claimed its fully open source, the name of the project is PoKT Network. I want to know if it's safe to use a web wallet that's open source for a while? I remember Elcetronuem using the same kinda wallet in 2018 and it works very well if you know how to keep private keys safe. https://wallet.pokt.network Web wallet is not safe at all, because you don't own the keys so you don't own the coins but if there is no really other way then you have to choose it but if the project is really worth it then sooner it will be supported in the multi crypto wallet. I remember such project once and also I kept the funds in their wallet with no really other choice and it has pretty good value for a while but some how I lost the credentials and I lost the access to wallet. |
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"I could either watch it
happen or be a part of it"
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fennic
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November 28, 2022, 02:53:25 AM |
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Oh Hi bro mostly Web wallets Are next way Of scam cause they are open source and we just do not know when they can scam us or steal our money. Recently a big Scam Of FTC caused such big Disaster in crypto Maktet and you can understand, how unsecure are these.
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Jawhead999
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November 28, 2022, 08:25:23 AM |
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Oh Hi bro mostly Web wallets Are next way Of scam cause they are open source and we just do not know when they can scam us or steal our money. Recently a big Scam Of FTC caused such big Disaster in crypto Maktet and you can understand, how unsecure are these.
Did you really know what you're talking about? Open source mean everyone can check the code to verify if the developer want to trick or scam the user, if their intention is to scam their holders, why they need to publish all of their codes in the first place? It's better if you learn first before make a non sense post. Although hardware wallet is really safe since you don't need to connect with internet, I will say away from any closed source hardware wallet since you're don't know the security about this wallet. |
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Bitcoin_Arena
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฿itcoin for all, All for ฿itcoin.
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November 28, 2022, 10:47:00 PM |
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Oh Hi bro mostly Web wallets Are next way Of scam cause they are open source and we just do not know when they can scam us or steal our money. I don't know whether to say you are ignorant or you just made an error while trying to put across a message because what you just said is completely wrong Recently a big Scam Of FTC caused such big Disaster in crypto Maktet and you can understand, how unsecure are these.
You meant FTX? FTX was never any sort of wallet? It was a damn-centralized exchange. |
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albon
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December 02, 2022, 02:49:58 PM
Last edit: December 03, 2022, 04:29:53 AM by albon |
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How can I keep JSON file safe? I don't always like .json file from wallets because you need to download them and store them in a more complicated ways.
I can only think of copying into a empty USB flash or do you have a better idea?
Yes it is a good idea, or an external hard drive on which you save the JSON file, and never try to use the hard drive or flash USB on your computer that you use to download programs and other things. It is better to use it on a computer that is devoid of any programs, where the file is safe with you and is not vulnerable to any Trojan horses. The web wallet is good, but its security rate is not as high as cold wallets. You have to choose the online web wallets that you will use and deposit your money on them carefully. I have no idea about Pokt Network online web wallet, please do your own research. |
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bounceback
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Seabet.io | Crypto-Casino
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December 19, 2022, 10:44:56 AM |
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It is not recommended to store funds or assets using a web wallet let alone plan to save funds in the long term because a web wallet cannot fully guarantee security and the wallet must always be connected to the internet network when we want to access it so it is very risky for hacking, I personally use a web wallet for a while then move all my assets to the exchange for trading, it's best to use a cold wallet if the goal is to protect your assets in the long term because cold wallets have high security against hacking cases.
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