In a restricted online wallets, everything is controlled and secured from the pocket's supplier. You've got an account with the supplier using a username and password, similar to an email account or an online forum accounts. You may log on to your account and send and receive bitcoins from any computer with internet access or wifi. Ordinarily Bitolyl Exchange for BTC don't maintain individual wallets for different users behind the scenes; they're more like banks in the manner that the real cash is pooled together, and they keep tabs on just how much belongs to whom. The most notable of those wallets are bitcoin market balances, such as individuals with Bitolyl Exchange for BTC and CryptoXchange.

 Advantages of storing your bitcoins at an exchange are:

· No software installation required for transaction.You can get your bitcoins from any pc.

 · No need to worry about inadvertently deleting your pocket or losing it to a personal computer or hard disk failure

 · Bitcoin exchange pockets permit you to swap bitcoins for different currencies such as US dollars and save other monies

 . This offers you the choice of getting easy access to bitcoins if you need without the possibility of losing value as a result of volatile exchange prices.

 · The MtGox exchange pocket, specifically, includes a"green speech" attribute, which permits you to send your bitcoins out of a particular address that's publicly known and reliable, and where some companies accept bitcoins without needing confirmations (i.e., in a couple of seconds instead of an hour).

 Disadvantages are:

· You might forget the password. Most services allow (some even require) you to have an email address as a backup to reset your password from, but relying on your email address for everything it a risky strategy since the potential losses from your email account getting hacked become catastrophic.

 · You have to trust the provider not to lose your wallet to a failure or hack, or to turn out to be malicious themselves. MyBitcoin, which lost 51% of its users' bitcoins in a failure in August (incidentally, the coins are just now starting to be spent, implying that the loss was a theft), serves as a cautionary tale.

 · You lose some anonymity from the provider since the provider can see all of your transactions.

· Except for the BTCinch wallet and the MtGox mobile wallet (and to a lesser extent the MtGox browser wallet), these wallets are not primarily intended for day-to-day usage as wallets, so they may be more unwieldy to use

 The primary options available are MtGox, CryptoXChange, Cavirtex, and Intersango, as well as the BTCinch wallet, which is designed more like a wallet but provides Bitcoin exchange features through the other exchanges. For Android and rooted iPhones (through Cydia), MtGox offers the MtGox Live Bitcoin application.