Your own wallet, or a 3rd party wallet?

[BrolySSJ 7899]

Very good topic and well explained as well. I personally use third party wallets because it is a low amount of crypto that i deal with. There are pros and cons with each one, but i think for those that do choose to make use of third party wallets, that they should do research and choose the right one. Reputable wallets will generally be considered to be safe and as a result they will be able to store their crypto without worry. 

 

Many third party wallets actually show you your private key now allowing you to recover your funds in cases where they are lost. 

[Yomose 3704]

On 8/10/2020 at 5:00 PM, JohanDonne said:

There is slight difference between the two, and if you 2ant to handle your funds by yourself and you Don't trust anyone else, you should go for software wallet such as trust wallet

You still did not get this rightly, not your own wallet which is regarded as third party wallet are custodial wallet while to be your own bank or having your private key is the best which means your wallet will be noncustodial. 

[gabegam 19]

I have read a lot about third party wallets, they can store a lot of personal data and have certain deficiencies in their security. I really would like to create my own wallet, for that I have to study several things. Thanks for this information, good luck.

[aaayyy6 7]

thank you guy, this is very useful information especially for those who are just starting to use crypto wallets

[jermaine05 179]

if you use a third party wallet your assets will never be in your possession and in case of any unforeseen event you could lose it so it is better to have a personal wallet 

[Jermany 612]

It is not recommended to use third party wallets, the safest way is to use a personal wallet where your assets are more secure 

[GanBin 705]

On 8/21/2020 at 2:42 PM, BrolySSJ said:

Many third party wallets actually show you your private key now allowing you to recover your funds in cases where they are lost. 

Do not get this wrong, there is no third party wallet that will show you your private key because you do not have private key with them. They are the ones having the private key, while you only save crypto with them without you having private key. 

[DreamStage 2105]

I prefer using 3rd party wallets for cases like sending virtual currencies converted into fiat currency for Pay Pal for instance, or any Bank account.

 

Own wallets have no such option so you would have still send it somewhere else as an online wallet or exchange to be able to do such a thing.

 

Nontheless Own wallets are much more safer and reliable than 3rd party wallets.

[Relium 424]

having control over your own fund is always better but sometimes hard to run. i keep my coins/tokens on my own wallet but i need to pay transaction fees. that thing sometimes be hard for me because sometimes transaction fees are go high and i have to pay a fee more then my transaction.

[JanBomCrypto 494]

I will just make this short by commenting that I will prefer my own wallet that will be noncustodial than third party wallet. I will be able to control my wallet without anyone controlling it, it I just the best than depending on people which can make my privacy become useless. 

[SERCAN KIRMIZI 113]

I don't know much about coinpayments, but if you are looking for a secure and easy to use online wallet I can recommend places like paribu binance. Including the Yobit exchange is an extremely safe and easy to use place.

[MoyenAli 60]

I always choose my own wallet because it's only my own responsibility. Without me on one can access my wallet that result my assets can be safe.Others side third party wallet that can access other person. The privet Keys knows other person. If the person is not loyal that this wallet can be hacked any time. But the new begginers choose always third party wallet because it can help to exchange withdraw their token.

[teebasas 3018]

This is a nice topic but I really don't like to use this type of wallet and I prefer to use my own wallets that are not dependent on a third party such as luno this wallet is very good and good to use.

[Aiman Malic 644]

Ask about the layers of security the exchange uses to protect  its investor's wallets.Do some research of your own to discover the exchange reputation ,trust us.You explain the third party wallets and special wallets but in all honesty. I prefer private wallets that are not connected to internet. 

[online123 992]

Third party wallet is never good because third-party ball is not completely under our control but if we have our own wallet then we have many benefits.So we will always try to use our own wallet

[UsmanMehmood 374]

People who work online need a wallets to store their money. Nowadays there is a lot of wallets available in digital world as

Trust wallet

Blockchain wallet

Atomic wallet

Electrum wallet etc

These wallets are very easy to use and the transaction is very fast and fast from here. 

[Beryymark 126]

Well my own wallet will be very much better because i will be the only one that will take all the responsibilities and i believe my wallet will be much safer from another party...i think third party wallet should be for co-operative accounts thanks.

[Sapna kanwal 118]

I prefer to chose my own wallet because it is most secure wallet.You have full command on your wallet .Your private key is secure on your own device while im case of third party wallet they have command on your wallet and your key is stored on their device itself.In third party wallet their is much risk of being hacked as comapre to my  Own wallet 

[Rozy 1918]

I personally do not like anything that is called third party , the best thing about crypto currency is that it is peer to peer transaction. Giving some exchange the absolute access and permissions to your account is very dangerous and you have already mentioned that you will lose all your coins if anything went wrong or if the exchange were hacked, so why would you want to do this risk when there are many other exchanges that do not ask for such permission.

[Froshk 1828]

Who will choose a third party wallet over a wallet that you will have full control over? 

The third party wallet always will create fear and uncertainty 

[Burhan12 287]

No doubt third party wallet is more convenient for beginners but i would like to advice to to use your own wallet ,because third party wallets have our private keys so we can not trust on third party wallet for security .You should store your funds,payments and crypto assets in your own personal wallet it will be more secure for your funds and personal and private keys will be secure .paper wallet are best wallets to store your crypto assets.

[Ms.Layla 320]

I am using Payeer wallet. And it seems to me that it is a third part wallet.  As the it's private key is the hold by the provider itself. I have a full control over my assets in the wallet.  I didn't face any lose working with my assets.  As I used the wallet only for trading purposes not for the storing of cryptocurrency. 

[Jessica7 1132]

This is important information, thank you, I use yobit wallet, it is a good wallet and it is characterized by high reliability and excellent security degree and also dealing with it is simple and easy and it is multi-currency

[Rutherford Adam 67]

Good question dear this is common things in these days we believe on others and use their wallets.But this is too much wrong method to save your money.In my opinion you must have your own wallet for security.

[Emma james 333]

That's really interesting and a good thing to consider when you are choosing your wallet. For me i prefer to have my own wallet and my own private key that way i will be in charge of everything and i can do what i whatever i want.