- Trusting that site with your seed is a bad idea. The seed is only secure if only you know it.
- The source of the random number matters more than the size of the dictionary. Who knows where that site gets its random numbers from? Electrum uses the cryptographically secure random number generator provided by your operating system. It is this that gets encoded as the seed mnemonic.
- A larger dictionary is possible. You can replace the Electrum dictionary with your own custom one. The default dictionaries are found in the wordlist subdirectory. for example in /usr/lib/python3.4/site-packages/electrum/wordlist/ on linux.
- I tried it with the EFF word list combined with the Electrum one and it only reduced the seed length from 12 words to 11. So not a big difference. The combined list with duplicate words removed is here:
https://pastebin.com/Kn3J6CGa . The electrum dictionary is 2048 words while this one is nearly 9000 words.
- The words in the dictionary have to satisfy certain criteria. Similar sounding words are not a good idea. Words that have similar spellings are also out. Uncommon words are not a good idea either.