Information Security Sign up or log in to customize your list._ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote 4 down vote favorite 1 I have an online bitcoin wallet.I sometimes read news about some online bitcoins wallet websites getting hacked.For sure when this happens, all the bitcoins of all of the users are stolen.Articles like this corroborate this.I guess there is no possibility of reclamation after that kind of incident on an online bitcoin wallet website.I guess they have all pretty controlled on their disclaimers.So my questions are: If a bitcoin is finally a hash that can be in a file that can be stored offline anywhere (on my local PC or on an external HDD), what advantages do I have for using an online wallet?Why to "expose" it?Is there an online bitcoin wallet never hacked yet?bitcoin up vote 1 down vote There are many advantages using online wallet against offline wallet : You do not need to download the whole blockchains, which takes tons of GB on your hard disk, each time you want to transfer bitcoins.

You do not need to transport your wallet everywhere with you.You can transfer your bitcoins from where you want, when you want, just by remembering your password.You do not need to update and configure the wallet, which is hard and can take a lot of time for some (more speaking for altcoins here).bitcoin to usd 2007Moreover, from the article you linked us, some are centralized cryptocurrency exchanges.bitcoin in urduIt allows customers to instant trades there cryptocoins instead of waiting the confirmations from the blockchain and in the same time, avoid blockchain fees.bitcoin 10000 investmentThe principal disavantage of online wallet is, of course, the security.bitcoin fantasy football

up vote 3 down vote Is there an online bitcoin wallet never hacked yet?I'm sure there is.But even if you pick one of them, you're trusting money to yet underregulated/undercontrolled institutions which might misplace your money, be it through incompetence or by design, disappear tomorrow, or, as you say, get hacked, and you will have basically no recourse.bitcoin mining 0 shares acceptedThere are very good reasons why the traditional banking industry is heavily regulated.ethereum smart investmentSo I'd suggest to not put your trust in any one such wallet, but split your bitcoins among several, so you won't be left out hanging to dry in the rain when one goes down.bitcoin detectiveI'd also suggest a preference for those online wallets under the regulatory domain of a countries that have the legal framework to deal with them (which might be difficult just yet).bitcoin the future of money pdf

Or keep most of your bitcoins in a wallet at home, make regular backups, keep one of them in a secure off site location and only transfer as much bitcoin into an online wallet as you need.Basically, it's the exact opposite of what I'd counsel someone who asked me where he should put is cash to keep it safe.australian bitcoin stolenYour Answer Sign up or log in Sign up using Google Sign up using Email and Password Post as a guest Name Email discard By posting your answer, you agree to the privacy policy and terms of service.Not the answer you're looking for?Browse other questions tagged bitcoin or ask your own question.A cryptocurrency wallet is a secure digital wallet used to store, send, and receive digital currency like Bitcoin.Most coins have an official wallet or a few officially recommended third party wallets.In order to use any cryptocurrency you will need to use a cryptocurrency wallet.

Below we discuss how digital wallets work and give some advice on which wallets to use.Cryptocurrency itself is not actually “stored” in a wallet.Instead, a private key (secure digital code known only to you and your wallet) is stored that shows ownership of a public key (a public digital code connected to a certain amount of currency).So your wallet stores your private and public keys, allows you to send and receive coins, and also acts as a personal ledger of transactions.We typically suggest using an official (or officially endorsed) wallet for any given coin.So, for Bitcoin we would suggest using the Bitcoin Wallet, and for Litecoin we would suggest Litecoin-QT.There are also universal wallets that can be used like HolyTransaction.If you are new to cryptocurrency, then always download the official (or officially endorsed) wallet from the official website.If you know what you are doing there are actually a wide range of different wallets to choose from which offer varying pros and cons.

Cryptocurrency wallets are all built to be secure, but the exact security differs from wallet to wallet.Generally, like your user names and passwords, the security of your wallet comes from you using best practices.We suggest not keeping more currency than you need at one time in a single wallet that you use frequently, using google authenticator for extra layers of protection, encrypting your wallet, and using an official (or officially endorsed wallet).You can also use multi-signature transactions.It’s smart to backup your wallet and private keys and to encrypt them.At least one backup should be on a CD or thumb drive to ensure that you have a “hard copy” laying around.If you lose your wallet or your keys then you lose the currency connected to it!As a rule of thumb don’t keep more currency in your digital wallet then you would in your real one!The answer is about the same as the answer to whether cryptocurrency is anonymous or not.The answer is that cryptocurrency is “pseudonymous.” Due to the open source and public nature of transaction blockchain ledgers, there are little bits of public data that can be used to backwards engineer someone’s identity (in theory).

For most of us, the answer then would be, “it’s pretty darn close to anonymous”.There are a number of different types of wallets you can use including online, offline, mobile, hardware, desktop, and paper.Each “type” refers to what type of medium the wallet is stored on and whether or not the data is stored online.Some wallets offer more than one method of accessing the wallet – for instance, Bitcoin Wallet is a desktop application and a mobile app.Here is a quick breakdown of the different types of cryptocurrency wallets: Desktop Wallet: The most common type of wallet.Typically an app that connects directly to a coin’s client.Mobile Wallet: A wallet that is run from a smartphone app.Online Wallet: An online wallet is literally a web-based wallet.You don’t download an app, but rather data is hosted on a real or virtual server.Some online wallets are hybrid wallets allowing encryption of private data before being sent to the online server.Hardware Wallet: Dedicated hardware that is specifically built to hold cryptocurrency and keep it secure.