EWallet

An eWallet is an online account where bitcoins can be stored. Examples include Currency Exchanges and ecommerce transaction processors such as MyBitcoin.com.

Risks

When bitcoins are stored online with Currency Exchanges and ecommerce transaction processors such as MyBitcoin.com the ewallet provider retains full control of those amounts.

• There is no guarantee that the amount of bitcoins showing for the account holder's balance are truly being held in reserve by the ewallet provider.
• The ewallet provider's security may be vulnerable to theft as well.