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.
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.
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. @Magic may have an answer.
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