Newbie question: wallet: cryptoknox.com, blockchain.info, or feathcoin wallet?
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Still waiting for rig parts to arrive, but in the meantime, attempting to learn as much as possible. Purchased BTC from Coinbase, sold it on btc-e.com, bought FTC, and then sent it to a wallet. The process was surprisingly easy, and I did not have to send a money order to Russia! I plan to purchase a few hundered FTC for my kids for Christmas as well. My question is: I have experimented with wallets such as cryptoknox.com and blockchain.info… however, once I actually begin mining and start receiving FTC on a regular basis, should I be using the actual Feathercoin-Wallet for that? Is it more secure than the 3rd-party wallet sites, or is it basically the same? I noticed upon downloading the Feathercoin wallet for the initial time it took quite a while to sync the blockchain info- but when I just opened it for the 2nd time to deposit coins, I guess it only had to update minimal new info and it was a quick process. The 3rd party sites do not appear to be doing that. Can someone explain safety issues between those 2 wallet options? Should the 3rd party wallets really only be used for temporary transactions, and not really ideal for long term storage?
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Feathercoin wallet for sure. The online wallets can just “disappear”. It has happened many times in the past. Just make a backup of your wallet.dat and your good to go!
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The QT wallet is a good one. But there’s better options, if you want to ‘secure’ your coins.
By far and away your best choice is a paper wallet. They can’t be hacked, aren’t subject to viruses and malware, and don’t take your coins with them when your hard drive crashes. Make one, send a few coins to it, send them back so you know it can be done, then just point your payout address at it, and forget about it. Print out 2 copies, put one in your closet, and the other one in a safety deposit box. That way, even if your house is destroyed by a fire, your fortune will be safe.
Online wallets get hacked all the time. Your coins are by no means safe there for an eternity. Exchanges get hacked all the time. Never trade what you can’t lose. Hard drives crash all the time, but you can import the private key from your paper wallet, so you can still spend the coins and don’t have to go get the paper wallet out every time. Just encrypt your wallet (Yes, QT wallet works best for this).
Blockchain.info is a good site. Their security is top notch, but nothing is perfect. If someone were to compromise Blockchain.info, there’s nothing stopping them from taking your coins as soon as you try and spend them. inputs.io just stole a bunch of people’s coins, and that was touted as being ‘super secure’. Turns out it was run by an 18 year old.
Paper wallets have no such weakness.
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Thanks for the quick responses… I appreciate that. I will check out the paper wallet guides on the forum and give that a shot.
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oh yeah i can vouch for that i had coins in cryptoknox.com and now can’t even access the site and been like 2 months since i sent out support emails.
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Local wallet is relatively safe. If you often synchronized blocks, it will not take more time. When you reap the benefits, there will always pay some of the cost. feathcoin wallet is a good partner.
