So I mostly use paper wallets for storage which is a risk since if I lose the paper then thats it, game over. I been looking for alternatives and a friend told me he simply runs electrum portable from a USB flashdrive only when he needs to send money, then unplugs it meaning that the wallet and the .dat are both offline
Now while is a bit easier to use than a paper wallet the biggest advantage IMHO is that he got a seed so even if he loses the flashdrive he can get his wallet back.
Should I switch to that method? what are the possible vulnerabilities of it?
And before someone mentions "hardware wallet" I live in a country with some heavy import restrictions (on top of fiscal ones) so I rather not order something that could get me questioned by custom officials.
honestly i have not using electrum i think it's quite nice to be tried
Advantages
- Does not require any registration.
- Can be used at any time as long as there is internet. Do not depend on a website. So no word website was maintenance.
- No need to wait long to download the entire database -BlockChain very large like Bitcoin wallet Core / Armory.
- Backup is very easy. just record and keep the confidentiality of 12 words secret given at the beginning.
- You are safe from phishing (fake websites that steal your passwords)
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