How safe it is to use multibit wallet?

[bitc0in]

I was just concerned about the security of multibit bitcoin wallet.
The bitcoin are stored in the cloud like other services such as Blockchain or does it make a wallet.dat just like the bitcoin qt on the devices??

[shorena]

I was just concerned about the security of multibit bitcoin wallet.

Multibit is safe as long as you keep your machine safe.

The bitcoin are stored in the cloud like other services such as Blockchain or does it make a wallet.dat just like the bitcoin qt on the devices??

The Service is called blockchain.info. All bitcoins are in the blockchain you only have the private keys to control them. Multibit safes your private keys in a local file, so no they are not in some sort of cloud or on a server.

[bitc0in]

Thanks for the explanation,so having the private key me or anyone could easily have access to my coins then?

[shorena]

Thanks for the explanation,so having the private key me or anyone could easily have access to my coins then?

Yes, but one does not simply "find" private keys that belong to someone else.

[bitc0in]

Thanks for the explanation,so having the private key me or anyone could easily have access to my coins then?

Yes, but one does not simply "find" private keys that belong to someone else.

Thanks

[dankkk]

I was just concerned about the security of multibit bitcoin wallet.
The bitcoin are stored in the cloud like other services such as Blockchain or does it make a wallet.dat just like the bitcoin qt on the devices??

The private keys are stored on your computer. I don't think they make a wallet.dat file, but it is a similar type of file that holds your keys. You should keep your wallets password protected so in the event someone does gain access to your wallet file they will not be able to access your private key as long as they cannot figure out your password. Nothing is kept in the cloud.

Thanks for the explanation,so having the private key me or anyone could easily have access to my coins then?

As long as the RNG that you use to generate the private keys is not flawed, then the chances of someone else having the same private key is essentially zero.

[bitc0in]

I was just concerned about the security of multibit bitcoin wallet.
The bitcoin are stored in the cloud like other services such as Blockchain or does it make a wallet.dat just like the bitcoin qt on the devices??

The private keys are stored on your computer. I don't think they make a wallet.dat file, but it is a similar type of file that holds your keys. You should keep your wallets password protected so in the event someone does gain access to your wallet file they will not be able to access your private key as long as they cannot figure out your password. Nothing is kept in the cloud.

Thanks for the explanation,so having the private key me or anyone could easily have access to my coins then?

As long as the RNG that you use to generate the private keys is not flawed, then the chances of someone else having the same private key is essentially zero.

Thanks and yeah,I have backed up as well as password protected the MB wallet.Being open source and decentralized I am known to the fact that my coins are always at my own hand.But I was quite unknown to the technical factors on how does the application functions on safe side.You just made it clear

[MightyBTC]

Many people as well as me use a multibit wallet.It's decentralized and open source as well.Make very possible security to your wallet available from your side like backup ,firewalls,antivirus ,paper wallets and many more along.

[El Emperador]

It's not very safe because it requires Java installed on your machine to work.

[btchris]

It's not very safe because it requires Java installed on your machine to work.

What??

Having Java enabled in your web browser may not be safe, but there is absolutely nothing wrong with having Java installed on your PC.

Dangers occur when there are vulnerabilities discovered in Java (happens too often...), and you or your browser runs a malicious app. There is no reason to believe MutliBit is a malicious app, so as long as you disable Java in the browser (which in Windows can be done easily via the Java Control Panel app) you are safe from these types of attacks.

Maybe there are other reasons not to like MultiBit, but the fact that Java in the browser might not be safe? That isn't a reason....

[jbrnt]

I would not say multibit is unsafe, it is one of the more trusted clients out there. I do not use it because I do not like the interface and it takes a long time to sync even though it is a light wallet. OP should try it and see if you like it.

It does need java installed for multibit to work, but it's not unsafe to use java, shouldn't worry about it if you have the latest java version.