Topic: Do and Don't for Electrum Wallet - page 4. (Read 600 times)
I don't got why like a huge majority of bitcoin/crypto holders wouldn't just buy a Ledger/Trezor. If they just use a reputable hardware wallet and just keep the backup offline, that's pretty secure enough for long-term holding. But nooo, most people wouldn't want to pay a measly <$100 for security.
First of all, do not trust anyone. Because you have the wallet on your computer, do not let anyone have access to it. I mean do not let anyone have access to your computer.
You can setup a 2FA wallet and have the 2FA app on another device. But you may not like it because of addictional fee and because you do not have the thrid private key.
You can prefer to go for cold storage wallet, https://electrum.readthedocs.io/en/latest/coldstorage.html
You can even get a hardware wallet like Trezor and use it with Electrum wallet.
You may even prefer to setup a multisig wallet, but which will require more than one device.
Use a strong password.
Backup your seed phrase in a safe location. For better security, you can use passphrase along with it, but backup the passphrase in a different location. If you lose your passphrase or seed phrase, you will lose your coins.
You can enjoy reading these: Good topics on security and privacy
You can setup a 2FA wallet and have the 2FA app on another device. But you may not like it because of addictional fee and because you do not have the thrid private key.
You can prefer to go for cold storage wallet, https://electrum.readthedocs.io/en/latest/coldstorage.html
You can even get a hardware wallet like Trezor and use it with Electrum wallet.
You may even prefer to setup a multisig wallet, but which will require more than one device.
Use a strong password.
Backup your seed phrase in a safe location. For better security, you can use passphrase along with it, but backup the passphrase in a different location. If you lose your passphrase or seed phrase, you will lose your coins.
You can enjoy reading these: Good topics on security and privacy
If you read this post, I've been hacked (Electrum 4.3.2), you will find that person lost his funds because he did not protect his wallet properly.
I would like people to tell and discuss that after installing Electrum wallet on the computer, what additional steps they should take so that there are minimal chances of their funds being hacked by the intruders and hackers.
I would like people to tell and discuss that after installing Electrum wallet on the computer, what additional steps they should take so that there are minimal chances of their funds being hacked by the intruders and hackers.
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