Hosted Wallets

[Starmix]

Hosted Wallets

Because I am so interested to create a crypto account, which is why I woke up early and browse the web, and stumbled on this Hosted Wallet as among the wallets for storing crypto. It is considered the most popular and easy-to-set-up crypto wallet. It seems interesting to me, and another thing about it is the third party that keeps the crypto for me the same way how a bank keeps our money safe. Hoping it is true because we don’t know what is behind the screen unless somebody confesses the truth about its accuracy. The best about Hosted Wallet is if forget the password I won’t lose my crypto. But there is also a drawback about this wallet that is you cannot access everything that Crypto has to offer.

Another thing is compliance with the government’s financial regulations. If this is so, I may go to the office of the Bureau of Internal Revenue which is also near home. In applying, the site also requires 2 steps verification called 2FA.

 

[fcbetting]

If you want 100% be sure buy cold storage wallet like Nano Ledger. In everything else you depend on service. It can be good but also can lose data and you can lose assests. Same rule works for web wallets, hosted wallets, exchange services.

 

[Starmix]

If you want 100% be sure buy cold storage wallet like Nano Ledger. In everything else you depend on service. It can be good but also can lose data and you can lose assests. Same rule works for web wallets, hosted wallets, exchange services.

Oh my there's no real risk free. But that's how in business online or offline. There always risk. And if we won't try, we won't know if we gain so often and seldom lose.

 

[Hate2Wait]

It does look or sound easier to start investing into crypto but it's not as you need to find a wallet that works best for you and is safe and have lowest fee

 

[Bisolami]

If you want 100% be sure buy cold storage wallet like Nano Ledger. In everything else you depend on service. It can be good but also can lose data and you can lose assests. Same rule works for web wallets, hosted wallets, exchange services.

How do you even think we can buy a cold storage wallet?
Is there a website for it?

 

[Starmix]

It does look or sound easier to start investing into crypto but it's not as you need to find a wallet that works best for you and is safe and have lowest fee

That is so true, better check a wallet that is affordable, legit, and easy to use. It is not good to do try an error because money is at stake. Let us be keen and vigilant this time. Scammers are so many lurking in a corner.

 

[Suba]

You will find many hosted wallets which are a form of custodial wallet or a crypto centralized exchange. Since the user does not hold the private key, the user cannot import crypto into other wallets. If a case occurs, the government can freeze your funds (crypto).

 

[Starmix]

That is also very crucial if the government participates in our crypto business. So, it is not good to use the hosted wallets because the user does not hold the private key.

 

[riberet19]

If it is a wallet safeguarded by another person it will never be totally safe, it is the same as having the funds in an exchange, it is better and safer to guard your funds by having your seed phrase in a cold wallet.

 

[Stardom22]

I wish you a good luck and all the endauvors in dealing with the hosted wallet. I hope it turns out to be very useful and user-friendly to you and everyone that chooses it.

 

[Bango]

I am not a fan of hosted wallets. I always try to keep the cryptocurrencies I bought in my personal wallet and I never like to keep them in hosted wallets or exchanges.

 

[Blessed19]

Hosted Wallets

Because I am so interested to create a crypto account, which is why I woke up early and browse the web, and stumbled on this Hosted Wallet as among the wallets for storing crypto. It is considered the most popular and easy-to-set-up crypto wallet. It seems interesting to me, and another thing about it is the third party that keeps the crypto for me the same way how a bank keeps our money safe. Hoping it is true because we don’t know what is behind the screen unless somebody confesses the truth about its accuracy. The best about Hosted Wallet is if forget the password I won’t lose my crypto. But there is also a drawback about this wallet that is you cannot access everything that Crypto has to offer.

Another thing is compliance with the government’s financial regulations. If this is so, I may go to the office of the Bureau of Internal Revenue which is also near home. In applying, the site also requires 2 steps verification called 2FA.

I can not advice anyone to have their crypto funds kept at a wallet that has to deal with a third party kind of thing for it is better and safe for me to have it at a wallet which is very trust worthy and secured like Binance than to have my coin stored at such a place though it might be because I am already conversant with Binance and will not want to lose any of my crypto funds to any wallet at all.

 

[Starmix]

Thank you for sharing your experience with Binance as a trustworthy wallet than the hosted wallet. It seems not good having a 3rd party of your wallet. There's no secrecy and privacy.