Thread by @e_Koush

To all #eCash Holders!

Cashtab.com is a nice, easy to use wallet. It's your go-to wallet for eTokens and quick day to day transactions

⚠️But for multiple reasons I would not advise to use a webwallet like Cashtab for storing high amounts of your coins⚠️

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As you may know, Cashtab doesn't need to be downloaded, it's a web wallet that stores all data in your browser cache

It's therefore easy to setup and hard to censor, because it doesn't need to go through the appstore or playstore

It's also compatible with most devices

But...

But the browser cache is an intricate space. It may happen for various reasons, that your browser decides to delete your keys

While this problem has been mitigated to the greatest extend, some storage-cleaner app or yourself might accidentally delete the cache

Therefore...

Therefore you are asked to always write down your 12 word seed phrase

This is best practice, even with native app wallets, so you can always restore your access to your funds in case of loss of your device or your device breaking and so on

But there's another issue with this...

There are different scams and phishing wallets online, that are looking like official cashtab.com wallet

They're also web wallets and advertise themselves as the official. We have already reported these scams, but it is not easy to take them down

Those scams are...

Those scam sites are calling themselves similar (xecwallet , ecashtab) waiting for you to import your 12 word seed phrase, so they get access to your keys and drain your funds after a few hours

This is how people can lose funds, even if they stored their 12 word backup

So...

So, if you:

- have a rudimentary understanding of the technology

- don't use your funds on a regular basis

- hold more than you can afford to lose

- just want to store eCash long term

Please download a wallet like ABCpay for mobile or Electrum ABC for desktop

Generally...

Generally speaking, look at Cashtab as a normal day to day wallet, where you keep some bills to pay for immediate needs

You would not put 10,000$ worth of life savings in your wallet; please handle cashtab the same way

While the wallet is safe, there are unfortunate edge-cases!

So, to summarize:

- Don't hold your savings, investments and long term holdings on Cashtab wallet

- Download ABCpay instead

- For really large amounts, you can use a hardware wallet

- Or just install Electrum ABC (portable version) on an USB-stick, which is a cheap solution

- Hold not more than 100$ worth or less on Cashtab, which you might need for day to day use, just like in a normal real wallet you take with you to town

- Beware phishing sites and keep your devices clean from viruses and trojans

- Store your 12 word backup offline and securely

That's it... I hope you take this to heart and go through necessary precautions to not lose your entire investment because of some avoidable edge-case scenario, where someone somehow got control of your 12 seed phrase.

If you have questions, ask us on t.me/eCash

For your information:

Electrum ABC & Cashtab.com are the only official wallets

please don't google for "wallet eCash" to open webapps with similar names like "xecwallet" or "eCashtab", also don't use ".org" domain

If you aren't sure, ask on t.me/eCash

https://twitter.com/nghiacc/status/1633471145042395137