Hi
After reading of lots of thread regarding 1st Aug 2017 I still didn't understand anything. Because I am not a tech guy. I am an investor and Invested my money into bitcoin and stored on blockchain.info BTC wallet.
But what will happened on 1st Aug 2017 I don't know and may be some more users also don't know. Some user said that blockchain.info BTC wallet is also not safe. That's why I make a decision after reading this thread -
https://bitcointalk.org/index.php?topic=2012799.0As admin - theymos recommend that storing my bitcoin to Electrum wallet is more safe then other place even I am not confirmed what will happened on 1st Aug 2017. So I downloaded the Electrum BTC wallet on my PC and create a Standard wallet and transfer my BTC from blockchain.info to Electrum Wallet.
Regarding creating Wallet what are the information I have to save or write down on my diary or somewhere else. Please guide me.
So my question is
Is it safe to create a Standard wallet or wallet with two factor authentication?
Is it possible to upgrade this wallet with two factor authentication?
If Bitcoin split then both type of Bitcoin shows on my Electrum wallet and I am able to spend both type of Bitcoin from my Electurm Wallet.
I have also installed Electrum Android version on my Mobile.
Your bitcoins are safe in Electrum wallet.
1. Write down the wallet seed in your diary or somewhere else. If you don't have the seed and you forget the password, you wouldn't be able to restore your wallet.
2. A wallet with two-factor authentication provides additional layer of security security over standard wallets.
3. I don't know if you can upgrade standard wallet to 2FA wallet.
4. Yes, in case of a split you would be able to spend both type of bitcoins,
http://docs.electrum.org/en/latest/hardfork.html