The American stock exchange cryptocurrency Coinbase announced that henceforth the purse holders on its platform will be able to create backup copies of their private keys using the cloud services iCloud and Google Drive.
“To recover funds, you only need to remember the password you set, ” the company wrote.
If you lose your device or exit the application, you can easily restore access to your funds using a personal cloud account (iCloud or Google Drive) and a password. ”
It is assumed that this feature will allow users not to worry about the possible loss of access to their funds due to unforeseen circumstances.
“Private keys that are generated and stored in your mobile device are the only way to access your funds in the blockchain. Owners of “user-controlled wallets,” such as the Coinbase Wallet, sometimes lose their devices or cannot recreate a phrase to restore access from 12 words and lose access to these funds forever , ”the company added.
Netizens, however, accepted the new Coinbase initiative without much enthusiasm, bearing in mind the numerous hacks related to weak passwords and other account-related errors.
Kraken Exchange CEO Jesse Powell wrote:
“I'm not a big fan of teaching user poor security measures. Cloud storage can be convenient, but they are constantly hacked, in particular by transferring mobile phone numbers. With a probability of 99%, people who, by a sinful affair, want to use this option, will not have enough strong passwords to resist professional hackers. ”
"I can not understand how you can be so much mistaken about your target audience, " wrote one of the Twitter users.
“I always dreamed of storing my private keys on servers in China ,” added another.
Publication date 13.02.2019
Share this material on social networks and leave your opinion in the comments below.
