Quote:
Originally Posted by mineistaken
WOW. I had no idea it worked like that. I though if you have your codes you are 100% secure. Turns out all bitcon are stored in some different companies that can simply take your money.
|
No, one of the core principles of Bitcoin is that you can store your wallet locally and do not rely on any third parties... BUT... for non technical people this can be a real headache. It's far easier to make an account on a website that offers an online wallet. For people playing with Bitcoin in the early days, storing a few bucks worth of value on a third party website probably didn't seem like a big risk, but then that value started going up...