However, some pools do not deduct anything. Mavens on TheStreet. Hosted cloud-based wallets tend to have a more user-friendly interface, but you will be trusting a third party with your private keys. Online or cloud-based wallets offer increased convenience — you can generally access your bitcoin from any device if you have the right passwords. As you can guess, this takes up a lot of memory — at time of writing, over GB. Fixed Income. Should everyone have to update their bitcoin software?