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1  Bitcoin / Electrum / Is it possible for any Bitcoin Exchange or Any Crypt Expert on: May 01, 2023, 09:20:21 PM
Hello Everyone,

Lets say I've a wallet named: Wallet_1
and its has a SEED phrase:
ONE TWO THREE FOUR FIVE SIX SEVEN ONE TWO THREE FOUR FIVE

and when I clicked on Receive Tab, Electrum created an address for me:

bc1jsdklfjsufojfkjlksjfousdfjlkjsdofuldja1
I received some bitcoins on this address.


Now on the second day I again clicked on Receive Tab and Electrum created another [New] bitcoin address for me:
bc1ueioutoiueo3tuo9hmcnanvoiroujjljslfjjk2

which I gave it to someone to send me bitcoins.

Is it possible for any Bitcoin exchange or Any Crypt Expert [who has expertise in cryto algorithms] to come to know that these 2 addresses are:

Created from Same wallet
or
Created from Same SEED phrase [even though that Exchange or that crypto expert don't come to what the seed phrase is but can they guess it?]
or
Created by same person

Is there any such thing reverse engineering or any other similar term or technology in crypto to come to know that both Bitcoin addressed are created by same wallet?

Thank you (in advance) for answering 😀
2  Bitcoin / Electrum / Re: [Newbie question] How to keep my Electrum wallet and BTC safe (given scenario) on: April 27, 2023, 07:18:24 PM
Electrum on an airgapped device, multisig and 2FA wallet are safer.

Do not let anyone know your seed, seed phrase or private key because they can be used to steal your coins. Master public key can be used to trace your coins, but can not be used to steal your coins.

As long as you have access to your seed phrase, seed or master private key, you will be able to access your coins. You can import Electrum seed phrase on Bluewallet.

1. Firstly thank you so much🙏 and I'd like to ask you:

>Electrum on an airgapped device, multisig and 2FA wallet are safer.
I'm not sure how to use Electrum on an airgapped device. In case if you know any step by step tutorial/video then please point me in that direction. [I'm searching at my end to know about it]

I've 1 computer so is possible to use multisig on it. I already have a Standard wallet and coins are in it.
BTW 2FA I  not to prefer to use it because it cost extra fee and also 1 key is stored on their cloud so I refrain.

In a nutshell, what I understood from your and other reply, I need to take care of these:
1. seed phrase
2. seed or private key [both are same thing right!]
3. Also take backup of Electrum wallet via backup option

Am I correct?

3  Bitcoin / Electrum / [Newbie question] How to keep my Electrum wallet and BTC safe (given scenario) on: April 27, 2023, 05:09:46 PM
Hello Everyone 😀
I'm new to Electrum and I tried best to watched tutorials but there is still some confusion 😕

I'm sure there are so many people out here who have great experience 🧠 using Electrum wallet, may I ask your opinion about these question I've:

1. How to keep my Electrum wallet and BTC safe? [I created Standard wallet]
(In other words which constraints I need to focus on to keep my wallet and BTC safe: seed, private key, and public key)
FYI: I'm not in the favor of 2FA  reason is not willing to pay 3rd party any money and also they keep 1 key at cloud.


2. If I remove the Electrum application from computer then will my wallet remain safe for few yrs even if Electrum release updates about application
or even if Electrum decides to discontinue the wallet.


I'm glad to to be apart of this community 😀 and seek your wisdom✨ and guidance.
4  Bitcoin / Electrum / Re: Why is Electrum so popular among holders of Bitcoin? on: April 27, 2023, 04:48:56 PM
I use Electrum as a lightweight wallet which connects to my own node and Electrum server. Electrum offers me what I expect from a decent wallet software: full control over fees, coin control, multi-sig, works with the hardware wallets that I'm interested in or own, works with cold storage setups, open-source, actively maintained and years of good reputation.

A more recent and very interesting other example is the Sparrow wallet, but I don't want to derail this thread any further with that.

Good to know that. May I ask you whats the benefit of running your own node?
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