Web wallet and App private keys

Logged into my web wallet. Was met with a whole list of new terms and conditions. Is the web wallet really that safe?

19.3. We keep the private keys for your Online Wallet. We endeavour to make all reasonable efforts to maintain the security of your Online Wallet private keys by taking precautions including (but not limited to):

19.3.1. encryption of your private spend key within our database;

19.3.2. encryption of the file system on which your encrypted private keys’ access codes are stored; and

19.3.3. firewalling of the access to the encrypted file storage in which your encrypted private keys’ access codes are stored.

19.4. We cannot warrant, represent or guarantee the security of your Online Wallet or use of the App. If any third party gains access to your private keys, your ETN may never be recovered.

Anyway… I thought a custodial wallet meant in the event of a hack or a stolen funds it would mean full replacement of stolen funds. Can someone from the team please clarify.

They are going cold storage soon. Plus, it is Hacker1 tested. For ultimate safety go for a paper wallet. There’s a risk to anything in life. I’d find something else to worry about.

The terms and conditions are a great addition to what ETN are going for… which is complete transparency. I don’t know any other crypto with terms and conditions, it further proves ETNs credibility. Terms and conditions??? surely another crypto first.

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It’s all brilliant to me, just a properly run business. No messing. Plan and deliver again and again.

how long until the new heist movies are about stealing cold storage wallets instead of gold and cash.

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Not very exciting though is it, just putting the paper wallet in your pocket and getting a taxi! I want to see Fast and Furious level heists in movies!

I dunno a paper wallet with 2 billion on it, sitting in a fort knox type state of the art building?? would make for good action but for sure… all that for a piece of paper would be a bit of a downer.

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a piece of paper can burn, be lost, be stolen, rotten, get wet and unreadable

Make multiple copies, laminate and put in separate places. Depends how much you have and how much you are worried I guess.

more places increase the possibility to get it stolen

True enough. Personally I just have faith in the Electroneum wallet. If it all got stolen then I certainly wouldn’t be happy, but it wouldn’t ruin my life. If you are savvy there are CLI? things you can do but that’s way beyond my comprehension. I’ll ask some people who know. @The-Magic-Man may have an answer.

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I keep my etn in CLI on my pc. if it gets hacked then it’s myself to blame.

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I use the cli wallet too @lkelemen

Has anyone tried the unofficial GUI wallet from https://github.com/andrepatta/electroneum-gui?

You make a print to PDF paper wallet so it’s a file then use it as if paper then keep on a Memory Stick. Jeff Knight has made a great video about it! I’ll find it out. Make sure you are disconnected from the internet at the time.

I backup my wallet file to a disconnectable harddrive. As I sync every month because of mining and buying it is not practical to create a paper wallet each time

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