You’ve probably seen the scam emails purporting to be from hardware manufacturers like Ledger. Would you believe some people actually fall for them?
Last week, on August 19th, someone did, and handed over their credentials to a supposed support worker.
They then lost 783 BTC. worth about $90 million.
This kind of thing simply can’t happen with text wallets. Because nobody knows you have them, and there is no ‘support service’ to impersonate. Besides which, you can split your coins between hundreds of wallets, which would require the theft of hundreds of keys, not just a single HD wallet passphrase.
Do yourself a favour, and do some research. Search here for ‘text wallet’. Grab a copy of the coinb.in website. Play with it or the live site, using any wallet at all (you don’t need the keys). Generate a few thousand wallets and store them offline. And read the ELI5s. Don’t be one of those guys who’ve lost everything through ignorance.
And this is why TEXT wallets are better than hardware!
byu/Fulvio55 indogecoin
Posted by Fulvio55
2 Comments
How can someone that owns 783 bitcoin be negative IQ enough to trust a random email? This world…
Yet how do you know the website that generate text wallets are safe? How do you know there is no backdoor in their codes? Pretty sure I saw news saying one of the text wallet generators were flawed and people were able to crack all the keys.
Also I find it hard to believe someone with 783 BTCs are that stupid.