Nickel Bitcoiner
Nickel Bitcoiner
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Online Wallets And Hardware Wallets.

Tue Apr 10, 2018 10:10 am

Online wallets offer better convenience. You can generally access your Bitcoin from any device i.e, cellphone laptop TAB if you have the right passwords. All are easy to set up. The disadvantage is the lower in security. With your private keys stored in the cloud, you have to trust the host's security measures.

Hardware wallets are small devices that occasionally connect to the web to do crypto-currency transactions. They are extremely secure than online wallets, as they are usually offline and therefore not hack able by hackers. However, they can be stolen or lost thats the disadvantage. Some large investors keep their hardware wallets in secure locations such as bank vaults and safes.

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Nickel Bitcoiner
Nickel Bitcoiner
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Re: Online Wallets And Hardware Wallets.

Thu Apr 12, 2018 7:50 pm

Great comparisons. Then there's also software wallets-which arguably the in-between option

Desktop/software wallets are hot wallets. The wallet is software that’s downloaded and installed on your computer or mobile device. These wallets are pretty secure for hot wallets, but of course, it’s only as secure as the computer/mobile device you host the wallet on. If your computer has malware and viruses running in the background, or there is no password to protect anyone from accessing it, then the wallet might be easily compromised. That said, It is best to opt for software wallets that provide cold storage options--electrum, jaxx, samourai

You can learn more about all the types of wallets on the market through our blog post: http://bit.ly/WalletGuide
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Ruan Valdez
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Re: Online Wallets And Hardware Wallets.

Thu Apr 26, 2018 11:42 pm

Thank you for this big difference given between the online wallets and the wallets of equipment. Honestly, I had not understood yet the difference which existed between its two support of stocking of cryptos currencies. I am possessing a crypto online wallet on the platform Crypto-Logic. To this day, I can say to you that I met no worry of security with my virtual currencies. Then, I think that the weak level of security which gives the online wallet depends on the site in which you are registered.

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Nickel Bitcoiner
Nickel Bitcoiner
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Re: Online Wallets And Hardware Wallets.

Tue May 29, 2018 7:22 pm

Bitcoin is 100% real business with its own ethics, rules, and regulations. It is the newest business where you can keep bitcoin in your wallet and trade it as well with other cryprocurrencies according their relative strength. Scams are present in the market but they are not related to the trading. Thanks!

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Re: Online Wallets And Hardware Wallets.

Tue May 29, 2018 7:22 pm

Online wallet works only when you have the internet connectivity but hardware wallet is the way by which you can execute transactions and many more things offline. Hardware wallet is more secure as compared to online wallet. Stay safe!

Nickel Bitcoiner
Nickel Bitcoiner
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Re: Online Wallets And Hardware Wallets.

Fri Jun 01, 2018 7:55 am

I prefer hardware wallets for better security. And online wallets for faster transactions. I would suggest keeping minimal or required coins in online wallets and the rest in hardware wallets.
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Nickel Bitcoiner
Nickel Bitcoiner
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Re: Online Wallets And Hardware Wallets.

Sat Jun 09, 2018 2:56 pm

Wallets are now plentiful, but ease of access, convenience, speed, are usually inversely proportional to the degree of security. And users have to choose: whether to sacrifice speed and the ability to use the purse always and everywhere, or risk money. Personally, I prefer hardware wallets, or I store a certain amount directly on stock exchanges. But still it is the first, especially when I choose there https://changevisor.com/ an exchanger for withdrawing money.

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Re: Online Wallets And Hardware Wallets.

Tue Jun 19, 2018 11:20 am

Which wallets store users private keys on the cloud?

Online wallet providers, like Coinbase (often referred to as bitcoin banks) just don't give users access to their private keys. The private keys to those addresses are kept safe by Coinbase, but as the old saying goes, "if you don't own your private keys, you don't own your bitcoins"

As great of a company that Coinbase is, for introducing people to bitcoin and helping them make purchases, if they get hacked or an employee runs rouge, you could loose all your funds, it has happened to other companies before.
The same goes for leaving your funds on an exchange, if they shut down you have no way to recover your bitcoins.

Wallets such as the Bitcoin.com wallet generate and store the private keys locally, on the users device itself.
If Bitcoin.com got hacked or our site and wallet servers went down, the funds in your Bitcoin.com wallet would still be safe. You would just need to restore your wallet using your backup phrase on another client to recover your bitcoins.

As long as you trust your own security, It is always advised to keep your bitcoins in a wallet, that you control the private keys to.
Of course the best security is always hardware wallet, Trezor, Ledger, KeepKey are the top ones out just now.

You can also use good old paper wallets, as long as you generate them correctly off-line, then your funds will be safe. Although safe from hackers, paper wallets can easily be accidentally destroyed or lost. It is best advised that you laminate them, and keep them in a safe.
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