Re: How safe are online wallets?

#2
Online Bitcoin wallets, or web wallets, store your coins on their Bitcoin addresses and only they know how their system works. If their Bitcoin addresses are hacked and an attacker gets all the wallets' BTC, all users will lose their money at the same time (unless the company compensate the loss).

Hot wallets are useful for keeping a small amount of crypto for spending or trading. If you want to invest, you'd better use a hardware wallet like Trezor. Hardware wallets are much safer than the Bitcoin Core client too.
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I'm a part-time florist, part-time cryptocurrency investor :)

Re: How safe are online wallets?

#3
Creators of online wallets hold the private key of your wallet if I understood right. So, theoretically, they have access to your funds. It is safe enough to use such wallet if you have a small amount of cryptocurrency. But, if you have funds, that you don't want to trade with, I would recommend to use offline wallets.
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Re: How safe are online wallets?

#4
If you have a significant amount of bitcoin and you aren't moving it around much it'd be best to get a hardware wallet and use that to store your coins. Much more secure that way.
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