I want to know something about Electrum wallet, is it good for long term investment preservation, or is trust wallet better. Many places talk about trust wallet. But which wallet is actually better for long term preservation. And which wallet will be more secure?
Electrum is one of the default, old-school, tried and tested open-source Bitcoin wallet options out there.
You can check out the source code for yourself!Trust Wallet, to the best of my knowledge, is a multi-coin web extension, so a totally different thing feature-wise and security-wise.
Choosing the right wallet for you depends on lots of factors though, and I recommend first establishing what you need, then doing your own research, and if anything's still unclear, post a detailed question. ('
How do I ask a good question?')
In short, if you only care about long-term storage of BTC, steer clear of Trust Wallet.
Either buy a trusted, open-source, verifiable, air-gapped hardware wallet and send the funds there, or do the following manual process.
- Create a fresh seed on a machine without antennas or Ethernet running Tails from a USB drive, which comes with Electrum preinstalled.
- Back up the seed onto metal.
- Send your funds to one of the addresses.
- Shut down the machine.
Once you need to spend, either go back into Tails and import the seed, or buy a hardware wallet and import the seeds there.
In the Tails method, you will need to put the signed transaction on another storage media, then import it on a computer with internet access and broadcast it to the Bitcoin network.
Unless it already exists, I can make a guide on this process.