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Is there a solid "Bitcoin Bank" yet?

Say that I wish to control my bitcoins from a (for me) single point and I don't have the technical resources to have a single access point with a wallet amongst my own personal computers / devices.

Is there a bitcoin bank or similar service that hosts my bitcoin wallet for me and is there a benefit to such a service beyond likely better backup and being a single point to which I can manage my bitcoins without having to set up my own remote access to a home PC? What are the reasons against using such a service?

marked as duplicate by ripper234, Robert Cartaino Aug 31 '11 at 19:55

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There are such services. But there's a good reason not to use them -- if one day the service is gone, so are all your Bitcoins. This has already happened once and will almost certainly happen again. As of yet, there are no companies I would consider sufficiently reputable in this business.

You can, however, keep both Bitcoins and other currencies in a TradeHill or Mt. Gox account. You can fairly easily transfer Bitcoins into and out of those accounts and they're run by well-financed companies that can reasonably be trusted. And both TradeHill and Mt. Gox have made noises about making their accounts more like online wallets.


Flexcoin offers an online wallet and "banking service" which actually pays interest on positive balance.

They do this by charging a fee for external payments, flexcoin to flexcoin remains free. 70% of all interest is then distribuited between its users.

The concerns of this is that an unregulated third party is in control of your money. Bitcoin is aimed at a cash style system, its all about trust when you put your money in other peoples hands.

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