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Author Topic: Secure on holding my btc on electrum  (Read 151 times)
tjtonmoy
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December 13, 2023, 04:18:12 PM
 #21

To be honest, electrum is the best software wallet out there for storing Bitcoin but as it is a softer wallet, it is not immune to hack. Being the best one out there does not mean that it is perfect. It is good out of every existing wallet out there. With a little bit of investment or modifying little things, you can actually have a decent wallet for Bitcoin storing.
Something I learned recently and that is air gapped devices.

You can buy a cheap desktop PC or laptop (desktop PC is recommended) in order to create this. After buying it you will have to install everything from the scratch including the OS. Take out any component that connects you to the internet. You can also disable services that connect to the internet from the settings. When everything is done, you need to install wallet that lets you set up offline. Then you can easily store Bitcoin in that wallet without any hesitation as long as you keep your key safe.
Just remember one thing, never connect that device to the internet. If you don't like all this, you can simply buy a hardware wallet which is the best in the business.
Gladitorcomeback
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December 13, 2023, 04:19:06 PM
 #22

feeling cool,

Came back here after few days to share that I added some btc to my wallet on electum 4.4.6, I'm thinking to keep on and adding more further.
Is it good to store for a long term ?

Electrum itself is good wallet and considered most secure hot wallet for storing btc. The reason of security is it's open source code. As you have decided to hold btc for long time and using 4.4.6 version then I have some tips for you which will help you to remain secure.

First of all you should assure that your device (where your Electrum installed) are free of malware. I recommend to use smartphone for it and hence you already installed then you should be careful with it because so many reports comes from member where fund has been stolen.

Don't save your phrase/private key online anywhere.

Sometimes hacker got access to older version so I will recommended to constantly update your wallet after some months.

Hamphser
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December 13, 2023, 04:22:27 PM
 #23

feeling cool,

Came back here after few days to share that I added some btc to my wallet on electum 4.4.6, I'm thinking to keep on and adding more further.
Is it good to store for a long term ?

tnx
I've been using up Electrum since 2017 and i dont have any problems, just make it sure that you dont really be exposing those seed phrases or private key then you should really be just that fine.
Usually people would really be messing up on the time that they would really be able to expose their keys and this is something that must avoid in the first place.
Also, keep your application updated to make it sure that security is really that being patched and it would really be usually be shown or notify you that it would be needed up to be updated.
I dont see any problems on making use of this one but you can also have some options too like purchasing up some hardware wallet or making use of other non custodial
wallets but honestly i could already say that Electrum should really be just that enough when it comes to this manner as long you do make yourself that responsible.

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