Is Blockchain wallet non-custodian? For some reasons I can’t get a Cold storage wallet, is this a good alternative?
https://ift.tt/Ncw3Kjn
Use an open-source wallet app. They’re free
https://bitcoin.org/en/choose-your-wallet
The blockchain.com wallet app is a self-custody wallet which saves an encrypted copy of the wallet file in the cloud, on a blockchain.com server
But, recent versions of this wallet added a “buy Bitcoin” feature. In that part of the app, the coins are in blockchain.com’s custody, not in the wallet
Very poor quality. Not recommended
Also, it’s hybrid “in the cloud” nature gives a false impression to naive users that it’s a Web service. Apart from saving and retrieving the encrypted wallet file, it’s not a Web service. It’s self-contained
This user misunderstanding makes this wallet a target for “helper” scams. The scammer poses as a helper to set up a wallet for a new user. The Web part has account-id and password credentials. The wallet part has a seed phrase. The helper advises the user that the wallet will be safe if the user changes the password after the setup process. The helper keeps a record of the seed phrase, monitors the wallet for years, steals all the coins when there is sufficient Bitcoin to be worth stealing
This wallet relies on connections to blockchain.com servers and nodes to keep its transaction history up to date. These servers frequently go off-line, rendering the wallet useless for days at a time
Cryptocurrency
