Post
Topic
Board Beginners & Help
Re: [General] Bitcoin Wallets - Which, what, why?
by
OmegaStarScream
on 29/08/2017, 08:45:32 UTC
Control your private keys
Services like Coinbase and Circle offer “Bitcoin wallets”, but in reality control your private keys. It’s best to use a wallet where you control your private keys. This is the only way to have full control of your funds and not have to rely on third parties for security.


Hi, I heard lots of non-flattery words about Coinbase and "better not to use attitude". Could you tell me why is that?

Trying to understand which are the best ones

Would appreciate any info

The part you quoted explains exactly why but in details, the private keys is what allow you to send funds but in coinbase case, they control it. If they get hacked (or claim that they got hacked), there is nothing you can do about it. If the service goes offline for long maintenance, you can't do anything either. If they notice suspicious activity in your account, they could close it until you provide what they ask etc. It's really not worth it, just go with a Desktop wallet like Electrum.