Are online wallets safe?

Every wallet contains a set of private keys without which the bitcoin owner cannot access the currency. The biggest danger in bitcoin security is the individual user perhaps losing the private key or having the private key stolen . Without the private key, the user will never see her bitcoins again.

Key Takeaways: Bitcoin wallets contain the private keys needed to sign Bitcoin transactions. Anyone who knows the private key can control the coins associated with that address. The most secure Bitcoin wallets are hardware wallets. Web wallets are the least secure .

Data transmission across mobile networks is the least secure method , and transactions using a digital wallet will be subject to the risks inherent in any mobile transaction. There is also the risk of having your phone lost or stolen, jeopardizing your personal and financial information.