Bitcoin Users Should Stop Using And Look For Alternatives

By December 11, 2016Bitcoin Business
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Cryptocurrency users have a multitude of wallet solutions to choose from. For some reason, a lot of people tend to rely on web-based wallets, which are far from the most secure option. is one such wallet, but a few warnings have been issued regarding this solution. Numerous issues have been identified, and Bitcoin users would do tell to look for different alternatives.

The number of online Bitcoin wallets is relatively large, yet not all solutions are created equally. In fact, one could argue users need to store funds either through a software client or use a hardware solution. used to be a convenient online solution, but it is to longer as reliable as people may think it is.

To put this into perspective, Luke-jr explained the few issues related to this wallet on Reddit. First of all, the BitAddress solution is a website, which is not the safest way to store Bitcoins. If the service would ever go offline, it is doubtful users can still access their funds, unless they have the private key.

Time To Stop Using BitAddress.Org

Downloading the source code to run it locally is an option, but not the best one. Storing any sensitive information within a browser is just asking for trouble. Speaking of which, the code is Javascript-based, which brings even more concerns to the table. Over the years, it has become apparent JS is not secure for any data storage or communication.

To take matters worse, JavaScript can be hijacked through so many different attack vectors; users would be under constant threat. Worrying about one’s finances is troublesome enough. No one wants to face issues with the software side of things, especially not if they are unsure as to how they can fix it.

But that is not the biggest drawback of The service also encourages address reuse, which is an absolute no-go in Bitcoin. Plus, multiple key pairs can be managed by hand, making them prone to loss. Although us humans are the so-called pinnacle of evolution, we tend to screw up important things quite regularly.

Which brings us to what solutions can be trusted. In the year 2016, using a hardware wallet to keep funds safe is almost an absolute necessity. Mobile wallets add convenience, but for storing significant amounts of currency, they are not secure enough. Keep funds in an accessible wallet for spending, but store the rest offline. That is how most of the experienced users have done it for years.

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