Kemosabe asked 12 months ago

what does anybody knowabout “Coinspot” as a wallet?

1 Answers
Steven Hay answered 12 months ago

Hey Kemosabe,
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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