Well, it seems to me to be an exchange wallet, meaning that the exchange has ultimate control over your crypto funds. Furthermore, I don’t see any links to a GitHub page for the Coinspot wallet, so I’m assuming that it’s closed source.
Neither of these things are good from a security standpoint. While the wallet is probably OK for handling small amounts, I wouldn’t recommend it for storing any kind of significant value. For storage of your coins, you’re far better off with your own personal software wallet, running on a properly secured PC. For even better security, you should consider a hardware wallet. See our Wallet Reviews section for more…
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