I always use online wallets. Ease of use and you don’t need the whole blockchain downloaded and updated copy continuesly untill you can make a transaction.
Online wallets are risky as you have a fear of loosing your bitcoins so the best choice would be to store your bitcoins in offline wallet and for that I think electrum wallet is the best as it has great safety features and won’t be possible for anyone to hack your coins.
i do not think that online wallet are risky because i am already using about from 2 years and i do not face any problem so i consider that online wallet is good and secure.
I agree with you, it is good and secure I use and still using online wallet, and I do not have any problem using it in so many years and I am much afraid to use a offline wallet, what if my computer got virus? And just hung up? What will I do? Anyway to recover it?
I used to think how you are thinking, and I used an online wallet. However recently, I read some articles about online wallets, even popular ones like coinbase sometimes freezing your account thereby disabling your ability to use your coins. It is also possible for them to steal your money.
Or if the government told them to shut down you would lose all your money. Also your purchases can be traced if you use an online wallet. Basically they own your coins and just promise to give them to you when you want them. It comes down to whether you trust that promise enough to keep large amounts there.
That’s actually true but it’s very unlikely they’d withhold your coins because that would be bad for that reputation. With that out of the way though, I’m not a big fan of them either. I tend to use a very lightweight desktop wallet and I’m looking to purchase a hardware wallet wich would give my the highest security possible.
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Newbie Offline
Activity: 25
i dont trust online wwallet, you wil never know what will happen, any rogue employee ot someone hacks a site.
i prefer my pc and in some cases, offline storing.
You Only Live Once.
Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
I store my bitcoins on an online wallet. This wallet is where all my earnings from signature campaigns go.
I store my bitcoin in an online wallet too. I think that is what most of the people here do but I have noticed that some of them have mentioned hardware wallet. I wonder what it is?
Online wallets are a horrible way of storing your coins for various reasons. Most important reasons are that you are not the only entity with control over your coins, your coins are exposed to threats coming from the internet, plus that you rely on the service in question to stay online all the time. In order to prevent the latter situation to form a problem, always make sure that when you do happen to make use of an online wallet service, that you use one that provides you with the private keys. In case the service goes down, you’ll always be able to access your coins.
Regarding hardware wallets, here is a handy link —
Thank you for the link. I will read more about hardware wallet.
I just want to ask if you have your own experience regarding why online wallets are a horrible way to store bitcoins? You are right about the coins being exposed to security threats coming from the internet but still online wallets is still reliable for storing.
Do not put a lot of bitcoins in your online wallet because it is very risky and also very attractive to the eyes of hackers because if they see a lot of bitcoins on an online wallet then they will do a lot of attacks to you like phishing site that can get access to your account if you are not careful and your hard earned bitcoins will like a bubble which will pop out in just a few moments.
Then I guess it would be better to create multiple online wallets and divide your earnings to avoid cyberpunks. Thank you for the advise!
That is risky too, because if you create a lot of online wallet then it will be very risky for you because the passwords can’t be all the same so you will create different passwords and it will be risky because you can’t remember it all. It is better to just use paper wallet in storing bitcoins which it is offline and you just need printer and paper then you can create offline and secured wallet.
Jr. Member Offline
Activity: 34
Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
I store my bitcoin on exchangers that is for capital trading altcoins and some bitcoin be puted on wallet online (usually be used for gambling game) i don’t store much digital coins in bitcoin, i just put digital coins on altcoins usually on ethereum because it has chance to growing up more than righ now and there is chance put digital coins in altcoins to make double my bitcoin.
I heard it is better not to put bitcoin in online wallet. So I store most coins myself.
I’m storing bitcoins thru my online wallet called coins.ph. This online wallet site has been created a year go and now Its very famous for all of us Filipino users and some places in South East Asia. Because it has many feature including shopping online paying bills, insurance, buying gaming credits, They have been also partner with some famous merchant like paypal, amazon etc. If you want to deposit money, just go to the nearest 7-eleven at cash-in some money converted to bitcoin plus… you can cash-out easily because they have many bank partners to choose from… even without using your ATM and bank account.
Ohhh Ive use that wallet before when we stayed in the Philippines and In was quite satisfied with it , It is very easy to use it is user friendly and I loved the most is by depositing money from 711 stores to make it bitcoins it has a very low fee on depositing.
Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
I store my bitcoins on an online wallet. This wallet is where all my earnings from signature campaigns go.
I store my bitcoin in an online wallet too. I think that is what most of the people here do but I have noticed that some of them have mentioned hardware wallet. I wonder what it is?
Online wallets are a horrible way of storing your coins for various reasons. Most important reasons are that you are not the only entity with control over your coins, your coins are exposed to threats coming from the internet, plus that you rely on the service in question to stay online all the time. In order to prevent the latter situation to form a problem, always make sure that when you do happen to make use of an online wallet service, that you use one that provides you with the private keys. In case the service goes down, you’ll always be able to access your coins.
Regarding hardware wallets, here is a handy link —
Thank you for the link. I will read more about hardware wallet.
I just want to ask if you have your own experience regarding why online wallets are a horrible way to store bitcoins? You are right about the coins being exposed to security threats coming from the internet but still online wallets is still reliable for storing.
Do not put a lot of bitcoins in your online wallet because it is very risky and also very attractive to the eyes of hackers because if they see a lot of bitcoins on an online wallet then they will do a lot of attacks to you like phishing site that can get access to your account if you are not careful and your hard earned bitcoins will like a bubble which will pop out in just a few moments.
Then I guess it would be better to create multiple online wallets and divide your earnings to avoid cyberpunks. Thank you for the advise!
That is risky too, because if you create a lot of online wallet then it will be very risky for you because the passwords can’t be all the same so you will create different passwords and it will be risky because you can’t remember it all. It is better to just use paper wallet in storing bitcoins which it is offline and you just need printer and paper then you can create offline and secured wallet.
yeah multiple wallets makes it very complex. for permanent storage for investment purpose you don’t have to rely on online wallet. paper wallet is much more secure and you don’t have to remember multiple password. i think this is the best method for long term storage.
Hello everyone as the title says ^ Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
I store my bitcoins on an online wallet. This wallet is where all my earnings from signature campaigns go.
I store my bitcoin in an online wallet too. I think that is what most of the people here do but I have noticed that some of them have mentioned hardware wallet. I wonder what it is?
Online wallets are a horrible way of storing your coins for various reasons. Most important reasons are that you are not the only entity with control over your coins, your coins are exposed to threats coming from the internet, plus that you rely on the service in question to stay online all the time. In order to prevent the latter situation to form a problem, always make sure that when you do happen to make use of an online wallet service, that you use one that provides you with the private keys. In case the service goes down, you’ll always be able to access your coins.
Regarding hardware wallets, here is a handy link —
Thank you for the link. I will read more about hardware wallet.
I just want to ask if you have your own experience regarding why online wallets are a horrible way to store bitcoins? You are right about the coins being exposed to security threats coming from the internet but still online wallets is still reliable for storing.
Do not put a lot of bitcoins in your online wallet because it is very risky and also very attractive to the eyes of hackers because if they see a lot of bitcoins on an online wallet then they will do a lot of attacks to you like phishing site that can get access to your account if you are not careful and your hard earned bitcoins will like a bubble which will pop out in just a few moments.
Then I guess it would be better to create multiple online wallets and divide your earnings to avoid cyberpunks. Thank you for the advise!
I agree, because, if the wallet where you stored your bitcoin will be hacked, then all of your effortsband hard work will be wasted, that is why storing your bitcoin in many wallet is a great idea. And, it is okay if you are going to put all of your bitcoins in just one wallet, if, that wallet is an offline one, because it is more safe than the online one.
I am using three flatform to store my bitcoins,blockchain for all my transaction,yobit for buying alt coins and of course electrum wallet as a desktop wallet,you should not put all your eggs in one basket,bitcoin is an investment a very good investment ,every bitcoin we have now is precious as the price could go up in the future..
yeah multiple wallets makes it very complex. for permanent storage for investment purpose you don’t have to rely on online wallet. paper wallet is much more secure and you don’t have to remember multiple password. i think this is the best method for long term storage.
I agree to add more, it would be good to make that paper wallet be laminated, since the purpose is to store it at a very long time, this will somehow give more resistant to wear and tear and the fading of the ink, aside from water of course.
I do store my bitcoins in different wallets, web for temporary storage and trading, local wallet as safety keep and paper wallet for savings.
I once kept my bitcoin on desktop client and when my computer crashed so are some of the bitcoin I’ve kept because I don’t have any back up to it. What I currently do is store my coins on several exchange too. Polo is just one. This isn’t recommended but I can’t trust my computer to crash this time. Having them on exchanges help me feel like I can travel anywhere and liquidate whenever I want.
Yeah, I agree storing bitcoin on desktop wallets is not safe since you can lose all your private keys if it gets infected by a malware or your hard drives gets wiped, there is soothing that I really don’t understand is why people don’t like to store their coins on online wallets, what do they have against them, did something happen that we missed on them, I mean they are safe to use I have been using them for ages now and nothing bad happened, there is no chance that you could lose your coins when stored on online wallets because they are highly secured.
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Fundador de 500 Startups. By MIT Technology Review en español on 2014-06-20 01:27:35
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