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Author Topic: I've installed Electrum - what do I need to do to keep is safe?  (Read 438 times)
kenneho (OP)
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July 24, 2017, 10:32:26 AM
 #1

Hi.

I've installed Electrum, stored the seed somewhere safe, and created a password so that the wallet is encrypted. What else do I need to do before starting to use it - backup keys or something?

Regards,
kenneho
Abdussamad
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July 24, 2017, 11:49:09 AM
 #2

you don't have to do anything else.

6Asmodeus6
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July 24, 2017, 11:50:49 AM
 #3

You can save your private keys too just in case.If you have done all this in a secure computer that doesn't have any malware or anything than you are safe.
HCP
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July 24, 2017, 02:56:16 PM
 #4

You can save your private keys too just in case.If you have done all this in a secure computer that doesn't have any malware or anything than you are safe.
Honestly, it is pointless saving the private keys... as soon as a new address is generated (basically after the OP receives their first payment), the backup of private keys is out of date. Additionally, exposing private keys is an unnecessary risk if they already have the seed safely backed up/stored away offline.

As Abdussamad said... seed+encrypted wallet file = all you need.

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kolloh
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July 25, 2017, 05:03:06 AM
 #5

The seed is enough to restore the wallet if anything happens. The only other thing you should do is make sure your PC is free of malware and don't download anything shady. For even more protection, you can use a hardware wallet in combination with Electrum so that the seeds aren't stored on the same device.
BitcoinNewsMagazine
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July 25, 2017, 02:46:55 PM
 #6

If you are using Windows Malwarebytes is well worth the $40 for real time protection. The best way to use Electrum is with Trezor though.

Coin-Keeper
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July 25, 2017, 09:05:02 PM
 #7

Quote
The best way to use Electrum is with Trezor though.

That is my personal choice as well.  Cold wallets are also great for security, but I needed mobility so my Trezor(s) filled in that piece for me.

BTC: 1PYSBbuKM3kW19xe9TXJQfq64rPhd8XorF
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kenneho (OP)
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July 26, 2017, 10:42:29 AM
 #8

The seed is enough to restore the wallet if anything happens. The only other thing you should do is make sure your PC is free of malware and don't download anything shady. For even more protection, you can use a hardware wallet in combination with Electrum so that the seeds aren't stored on the same device.

I ordered Ledger Nano S a few weeks back, but it isn't scheduled to ship until a couple of months from now. When I get that I'll move my funds to that instead of Electrum.
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