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What I want to know is how these places store my bank account / ACH details. That always worries me more than losing a few Bitcoins. From past experience with
by powertower 13y ago
What I want to know is how these places store my bank account / ACH details. That always worries me more than losing a few Bitcoins.
From past experience with other services, they have about a 95% chance of giving up all customer data due to a hack-in.
Even Linode was storing their private key in the same place their public key was. You can never trust anyone these days.
I'd love to stop using BitInstant and dealing with their cash deposit down-time and issues with their processors and moneygram, etc. But I get to make up all the personal info and don't have to worry about making it into some database that's going to get compromized.
- jerguismi 13y agoOn LocalBitcoins the service doesn't know the details of the buyer at all. The seller has to display his account info so that the buyer can pay. From buyer perspective it is quite safe.