Post
Topic
Board Altcoin Discussion
Re: Stay away from centralized wallets
by
Francis Freeman
on 18/10/2020, 13:26:03 UTC
Do you even know the difference between Centralized wallets and Dec wallets? Days back I lost my coinbase account and the team aren't helping, I'm glad I only have little Bitcoin on the account, would have been a different story if I use coinomi or atomic wallet because they give users 💯 control over their funds, private keys and recovery seed are important, always remember that

Example of Centralized wallets
1. Coinbase
2. Nexo
3. Luno
4. Xapo
5. Freewallet

Any wallets that ask you create an account with mail and password is centralized, they monitor your private keys for you, be smart

While it's clear that centralised exchanges and wallets are under the scan now, I think coinbase out of this list is trustable and they won't steal the keys but them getting hacked or played by a malicious actor is definitely in the picture.