Post
Topic
Board Bitcoin Discussion
Re: Do you own your private keys with Desktop Wallets?
by
Peter Bailey
on 17/07/2018, 12:36:54 UTC
If you do not solely control the private key you do not own the bitcoin. This has been an adage in Bitcoin since the beginning. Unfortunately, in the case of online wallets, services, exchanges, or any other service, you do not solely control the private key and you can’t protect it in any way. In order for the service to work they need to be able to move the bitcoin around. You deposit it to them and they control it on your behalf. If you are concerned about security move your bitcoin to a wallet you control, either desktop, mobile, hardware, or paper.