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Author Topic: How much safe Electrum 2FA is?  (Read 267 times)
tabas
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November 18, 2023, 10:28:19 AM
 #21

Is electrum is safe for long term storing?
Yes, it is one of the ideal desktop wallets that's focused in Bitcoin if you don't have other means of storing your Bitcoin through a hardware wallet or any of a kind. There's no problem if you do that and you can basically treat it as your air gap wallet if you ever had a device like a laptop that you're not going to use and just simply disconnect it entirely from the internet.

Can I get hacked ?
Everyone has the risk of being hacked if we're not careful to how we browse on the web. Remember that, depends on the wallet you use. If you downloaded the wrong wallet and it's owned by the hackers that copied an official wallet then you're likely to get hack and your funds will be gone. But if you have downloaded the official wallet, the fate of yours being hacked depend on your browsing activity.

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Z390
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November 18, 2023, 11:16:07 AM
 #22

Electrum wallet 2FA is safe but there are things you should know....

Unauthorized access to your device is where 2FA authentication comes in, no one will able to get into your wallet as they will need the 2FA code to get in but that's it, 2FA authentication has no capacity to safeguard your recovery seed, do not think that you can safe your recovery seed somewhere online or in your email and nothing will happen because you are using 2FA, if I have access to your recovery seed I will still be able to move all your funds out of your wallet while your 2FA is active.

This makes 2FA authentication less interesting to me, if you don't want to get hacked keep your recovery seed offline, Electrum wallet is a very good one but still the user must protect it's recovery seed privately, keep it off the places where people can easily see it, if you are not living alone you should still have your private space, I carved mine on a stainless steel in the shape of a master card and keep it in a locker.


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November 18, 2023, 11:27:18 AM
 #23

I was thinking of doing transaction of btc thru electrum and can collect money by third party which may makes government unrecognizable who is handling behind it. Currently I'm using this forum by self created multiple VPns. What you recommend me to deal with that? Should I use with the help of TOr (basically it runs?) Is electrum is safe for long term storing? Can I get hacked ?
Electrum is a non-custodial wallet where you get a private key when you create an account. Which cannot be memorized or matched in any way. So if you don't submit your private key to any phishing site. Or the device on which you keep your private key is not hacked. Or if you write down your private key in a diary or print your private key from a computer and leave it somewhere if it is not stolen. Then no one can access your wallet. So in this case you can stay below if you can keep your private key safely. Then there is no chance of your crypto being hacked from there. Here you can definitely hold crypto for a long time

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