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.

 

[Bisolami]

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 have not heard about hosted wallets before
This is a very good information
Thank you

 

[Starmix]

I have not heard about hosted wallets before
This is a very good information
Thank you

You're welcome you may try to open an account on this. It's also my first encounter of this site. It will be this I would choose.

 

[Bisolami]

You're welcome you may try to open an account on this. It's also my first encounter of this site. It will be this I would choose.

I will open it and I will still ask my friends in my country if they have an account on it

 

[Starmix]

I will open it and I will still ask my friends in my country if they have an account on it

One RIF member said that hosted wallet is not safe because there is a second party that will keep your wallet and it seems not fair and safe.

 

[Bisolami]

One RIF member said that hosted wallet is not safe because there is a second party that will keep your wallet and it seems not fair and safe.

I also heard it from someone that it is not safe so we should just stay away from it

 

[Starmix]

I also heard it from someone that it is not safe so we should just stay away from it

That's right, at least we can save others from joining, but there might be others who are not afraid to use this cute coin.

 

[Salt]

I would like to know from where are you learning about these things as I need to start learning things that I am not aware of

 

[Starmix]

Someone on the other site said that hosted wallet is not safe for it has a third party. There's a tendency for your earnings to get stolen.

 

[Nomad]

Hosted wallets are basically centralized wallets. Centralized wallets are the wallets controlled by a company, as opposed to decentralized wallets that do not have any central authority to govern it. When you use hosted wallet, you do not actually control your assets. This is the major problem with using hosted wallets.

 

[Riberet19]

I don't generally like to use centralized wallets, since I like to have control of my assets and therefore have the seed phrase to be able to have more control over them, if I want to use a centralized platform, I prefer a trusted exchange over a centralized wallet honestly.

 

[Monster Masterpiece]

I don't generally like to use centralized wallets, since I like to have control of my assets and therefore have the seed phrase to be able to have more control over them, if I want to use a centralized platform, I prefer a trusted exchange over a centralized wallet honestly.

The same seed phrase could be imported in multiple hosted wallets so just you do not have to create more than one wallet and spread funds into them, at least if there is a hack then you are not affected a lot because you remain little funds into it, not the case of multiple seed phrases compromised.