Electrum Update?

[Peanutswar]

Im currently running an Electrum version of 4.0.3 and right now there is another update on their system which is they release the 4.0.4 version when I checked and click the download it directs me to the electrum.org website and try to click the latest version this gives me the .exe of this version right now the problem is.

What did I suppose to do to get this upgrade?
1. Uninstall the old version and install the latest version and use my old seed?
2. Just install the .exe file of the latest version without uninstalling the old version?

Also does update an electrum wallet is necessary? So I can stay on the older version or try the latest version?.

[AB de Royse777]

Also does update an electrum wallet is necessary? So I can stay on the older version or try the latest version?.

I's not necessary that you have to always update to the latest version. An old version will do especially if this is not too old.

What did I suppose to do to get this upgrade?
1. Uninstall the old version and install the latest version and use my old seed?
2. Just install the .exe file of the latest version without uninstalling the old version?

Before anything else take backup of the wallet files or write down the seed of the wallet/s you have. Do not lose them by any means.

You can do any of the above but it's better if you delete the old version, this will not confuse you in the future. However here the main thing you need to have in mind that you are downloading the authentic version.

Always download it from official website: https://electrum.org/#download
Always verify the file before installing: https://bitcoinelectrum.com/how-to-verify-your-electrum-download/

[TryNinja]

What matter is your wallet file not the Electrum installation. When you install Electrum through the .exe installer, it just deletes the old files and install the new ones, keeping the "wallets" folder, which is where your wallet file is located at. If you download the standalone .exe, you just need to run it normally and Electrum will open without installing anything or changing any files.

In all cases, you should have a backup of your wallet seed to avoid ever losing your coins due to a malfunction on Electrum, your HD, your OS, etc... If you don't, then what are you waiting for? You NEED to have it backed up in an offline place (e.g a piece of paper and NOT on a .txt file or your Google Drive).

[pooya87]

Also does update an electrum wallet is necessary? So I can stay on the older version or try the latest version?.

for this and any other future versions it would be a good idea to check out the Electrum release notes on github[1] to see what were the major changes and bug fixes in the new versions that you would be missing out on if you skipped the upgrade. there could be a case that you also face if you are using the older version (eg. the issues with PSBT that keep being fixed in each version).

another indication is the version numbers. a major version change indicates big changes (eg. from 3.x.x to 4.x.x) that may even be backward incompatible, a minor version change usually indicates big changes too that you may need to upgrade still (eg. x.0.x to x.1.x), the third number (called patch, revision, etc.) indicates very small changes and some unimportant bug fixes (eg. x.x.0 to x.x.1).[2]
although this is not as accurate as looking at the changelog (and the code itself), and although every developer uses their own defined versioning system but it is still a good indication.

[1] https://github.com/spesmilo/electrum/blob/master/RELEASE-NOTES
[2] https://semver.org/

[Peanutswar]

Thank you for all of the feedbacks this removes my doubt and make sure before I do something changes on my wallet.

Also does update an electrum wallet is necessary? So I can stay on the older version or try the latest version?.

for this and any other future versions it would be a good idea to check out the Electrum release notes on github[1] to see what were the major changes and bug fixes in the new versions that you would be missing out on if you skipped the upgrade. there could be a case that you also face if you are using the older version (eg. the issues with PSBT that keep being fixed in each version).

another indication is the version numbers. a major version change indicates big changes (eg. from 3.x.x to 4.x.x) that may even be backward incompatible, a minor version change usually indicates big changes too that you may need to upgrade still (eg. x.0.x to x.1.x), the third number (called patch, revision, etc.) indicates very small changes and some unimportant bug fixes (eg. x.x.0 to x.x.1).[2]
although this is not as accurate as looking at the changelog (and the code itself), and although every developer uses their own defined versioning system but it is still a good indication.

[1] https://github.com/spesmilo/electrum/blob/master/RELEASE-NOTES
[2] https://semver.org/

Also, this statement gives me a good knowledge about versions of the electrum, right now I'm trying to find out some of the changes of the version so I know if I'm going to update or not.

[khaled0111]

AFAIK, no one reported a critical bug on V.4.0.3 that requires an urgent upgrade to the latest version. Therefore, I see no problem if you keep using it without updating.

Imo, the major change was introducing the "cancel transaction (double spending)" feature. Other than that, you won't notice any big difference.

[Abdussamad]

number 2 is the answer assuming you used the windows installer the last time and you made sure to download that this time as well. don't use the portable or standalone versions unless you know what you are doing.

[The Sceptical Chymist]

Before anything else take backup of the wallet files or write down the seed of the wallet/s you have. Do not lose them by any means.

With Electrum, the first thing you should be doing when creating a new wallet is writing down that seed phrase--always. 

As far as the most recent update (to 4.0.4), I don't think it's a critical one but I updated from the most recent version just the same.  I haven't noticed any earth-shattering improvements or anything like that, so I wouldn't fret if you don't update.

Always download it from official website: https://electrum.org/#download
Always verify the file before installing: https://bitcoinelectrum.com/how-to-verify-your-electrum-download/

Definitely good advice.  With all these phishing scams and whatnot going on these days, you can't be too careful.

[Maus0728]

What matter is your wallet file not the Electrum installation. When you install Electrum through the .exe installer, it just deletes the old files and install the new ones, keeping the "wallets" folder, which is where your wallet file is located at.

Let's say for example I am using Electrum as an interface to manage my bitcoin using Ledger Nano S which also has wallet file that can be found in

Code:

\Users\YourUserName\AppData\Roaming\Electrum\wallets (or %APPDATA%\Electrum\wallets)

Is it safe back up them in a flashdrive? Also, Is there any antivirus that I can install inside the flashdrive to protect the wallet file from being infected/hacked? I am planning to actually clean my PC and start with a fresh one and then re-install again the electrum.

[TGD]

What matter is your wallet file not the Electrum installation. When you install Electrum through the .exe installer, it just deletes the old files and install the new ones, keeping the "wallets" folder, which is where your wallet file is located at.

Let's say for example I am using Electrum as an interface to manage my bitcoin using Ledger Nano S which also has wallet file that can be found in

Code:

\Users\YourUserName\AppData\Roaming\Electrum\wallets (or %APPDATA%\Electrum\wallets)

Is it safe back up them in a flashdrive? Also, Is there any antivirus that I can install inside the flashdrive to protect the wallet file from being infected/hacked? I am planning to actually clean my PC and start with a fresh one and then re-install again the electrum.

It's safe unless there's already malware inside your USB before you clean it with antivirus. Usually I save my seed on google drive and put it on a Microsoft word file of my thesis during my student time. I insert the recovery seed inside my research paper (on the middle part) so that it will blend in and no one will ever know that there is a recovery seed there except me or some freak that will read my research.

They will be bored once they read my research paper so I'm no one will ever hack me.  

[TryNinja]

Is it safe back up them in a flashdrive?

Yes. Your private keys aren't stored in the wallet file. All the wallet does is hold the public key of your wallet, so it can track your balance and know which inputs to use when crafting an transaction. Your private key is stored ONLY inside the Ledger device, so it doesn't matter whether or nor your PC is infected. What you can't do is store your backup seed or private keys inside a flash drive, your PC, your email, etc...

Also, Is there any antivirus that I can install inside the flashdrive to protect the wallet file from being infected/hacked?

That's not how an antivirus works. You can't "install it inside a flashdrive" to protect your files. You can, however, scan it for any potential malicious file. But those malware only act in your device if you run the infected software stored inside the flashdrive or if your PC is already infected even before connecting it.

It's safe unless there's already malware inside your USB before you clean it with antivirus.

No. It's safe regardless because your private keys inside the Ledger can't be infected by a malware on your device. And your flash drive can't be "infected" because it doesn't run any software.

Usually I save my seed on google drive and put it on a Microsoft word file of my thesis during my student time.

That's the worst thing you could do. It's crypto 101. NEVER save your private key or seed in an online device or service. And Google Drive...? You need to write it down physically and save it somewhere safe. Electrum literally says "Do not store it eletronically" when your seed is generated.

[Maus0728]

Yes. Your private keys aren't stored in the wallet file. All the wallet does is hold the public key of your wallet, so it can track your balance and know which inputs to use when crafting an transaction.

Thank you for the clarification. So the only thing I need to do is to go to wallet file via file menu > save backup?

Usually I save my seed on google drive and put it on a Microsoft word file of my thesis during my student time.

Are you still practicing this method? If I were you, I assume that the seed phrase stored in your google drive is somehow compromised. It should be written on a piece of paper, laminated and then stored somewhere in your area you think is safe.

[TryNinja]

So the only thing I need to do is to go to wallet file via file menu > save backup?

Yes. Or just copy the file inside the wallets folder, which does literally the same thing.

Keep in mind that this is not really a backup of your wallet. Your seed is your backup.

[TGD]

Usually I save my seed on google drive and put it on a Microsoft word file of my thesis during my student time.

That's the worst thing you could do. It's crypto 101. NEVER save your private key or seed in an online device or service. And Google Drive...? You need to write it down physically and save it somewhere safe. Electrum literally says "Do not store it eletronically" when your seed is generated.

I'm fine, Been doing this kind of shit almost 3 years ago and so far, I didn't experience any problem. I'm more nervous when I write down on a piece of paper because it might loss or destroyed in case some emergency happened like typhoon and fire. About storing it on USB, I never do that because what if someone stole my flash drive or it was suddenly corrupted.

There are lot's of things I'm worrying while I can hide my keys on my random files online. There is no way a hacker will hack my Gmail and read all files one by one. I have a shit tons of PDF, Ebooks and Words stored on my Google drive which is protected with SMS authenticator.

By the way I insert the 12 word seed separately word by word in different paragraph. I just made a list of the page where I was inserted it. 

[Pmalek]

Is it safe back up them in a flashdrive? Also, Is there any antivirus that I can install inside the flashdrive to protect the wallet file from being infected/hacked? I am planning to actually clean my PC and start with a fresh one and then re-install again the electrum.

You can always password protect your USB drive and/or encrypt it for additional security. If you use Windows, it is equipped with Bitlocker that you can use. I hear it is not the best, but better than nothing. I don't know many other encryption software but I have heard people mention Veracrypt and Rohos.

I'm fine, Been doing this kind of shit almost 3 years ago and so far, I didn't experience any problem.

If you have been doing it for 3 years already than you are 100% safe. If you have been driving without a seatbelt for 3 years and you were never in an accident, it's not like something can happen to you in the 4th or 5th year. Just go nuts.   

...because what if someone stole my flash drive or it was suddenly corrupted.

What if the file your seed is stored in got suddenly corrupted? What if someone hacked your email and gained access to your Skype, Google Drive, and other services you use? What if you forget your Google drive password? What if an unsuspected incident causes your Google Drive to get wiped clean?

I just made a list of the page where I was inserted it. 

And where do you keep this list? On the same Google Drive, your phone, on your hard drive unencrypted?

[o_e_l_e_o]

but I have heard people mention Veracrypt and Rohos.

LUKS for Linux and VeraCrypt if you are using non-Linux OS are my go to programs.

I'm fine, Been doing this kind of shit almost 3 years ago and so far, I didn't experience any problem.

Just because something has been safe so far, doesn't mean it is a good way of storing your seed phrase. There is a reason that every serious bitcoin user, every good wallet, every bitcoin site, tells you to write down your seed on paper and never store it online.

I'm more nervous when I write down on a piece of paper because it might loss or destroyed in case some emergency happened like typhoon and fire.

The whole point of a back up is to store it separately from your main wallet so that a theft or disaster won't affect both equally.

About storing it on USB, I never do that because what if someone stole my flash drive or it was suddenly corrupted.

You are placing complete trust in a data mining company who have had their servers hacked countless times and have had terrible security lapses, including storing passwords in plain text.

By the way I insert the 12 word seed separately word by word in different paragraph. I just made a list of the page where I was inserted it.

Security by obscurity is not a good choice.

[bob123]

Is it safe back up them in a flashdrive?

It depends.
Usually, yes. But it shouldn't be your only backup option.

Flash drives can break / lose data. But it doesn't hurt to have a digital backup stored on a flash drive.

Also, Is there any antivirus that I can install inside the flashdrive to protect the wallet file from being infected/hacked?

No, that's not how it works.
Make sure your device used to access the flash drive is clean and you are fine.