Deadalus Wallet advantage


#1

What’s the advantage of using the wallet and not leave your coins in for example Binance…?


#2

The advantage is you have complete control of your wallet.


#3

thnx Lewis…Deadalus is only to control my ADA? And is it a safer way to store…I am a complete no-knowledge and in it for the long run cause as far as I understand the project I believe in it…
What in case of a crash of my Laptop? Which I never had…but in case of…?


#4

In this case you should have a backup of your seed and if you re enter it everything should be fine


#5

You’re welcome.

Yes; Daedalus wallet is specifically for your ADA.

I bookmarked the Daedalus website and use the FAQ to get answers. I will always try to help others on the forum and I try to be as accurate as possible but I like to source the original information. :slight_smile:

The Daedalus Wallet is an Online Wallet and as @CyberHek replied as long as you have the “seed phrase” from when you installed your wallet you can restore/reinstall your wallet again and recover your coins.

Here are two items from the Daedalus Wallet FAQ:

Caution : If you do not have the recovery phrase, do not delete your wallet.

How do I backup my wallet?
To backup your wallet, you’ll need a recovery phrase which is 12 words you’ve received at the wallet creation. To restore the wallet, click “Add Wallet” select “Restore” and type in your recovery phrase.

Will uninstalling/reinstalling the application delete my wallet data and coins?
No it does not. Regular reinstallation/uninstallation will not delete your wallet data. Also note that Daedalus is a online wallet so even if your PC is broken, you can still restore it with another PC using recovery phrase.


#6

Hi @Dulla

I’m new here, just reading some posts…

Suppose anyone could hack Binance and stole your tokens… that’s the main advantage of having your tokens in your wallet, I think. Or what about Binance leaving the business… that type of thing.

Regards.


#7

What’s been happening with Bitconnect is a perfect example of why you shouldn’t leave crypto in an exchange.