First post, go easy. Electrum wallet security

Coding Enthusiast

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Quote from: Valdos on August 03, 2016, 12:00:56 PM

If this has been asked please direct me to correct thread. If its really dumb please explain why.

If i create a new electrum wallet. I have money transferred into it. Then i delete wallet from my computer. If my computer has not been previously hacked, is this a fairly secure method of storing bitcoins. Obviously i have my seed written on paper. So five years from now could i just create wallet from seed and everything would be there?

Thanks,
Valdos

as others have said it is possible but it has risks.
my proposal,
1) download a linux distro that you like. if you are not familiar with linux download Ubuntu which is famous, safe and has a huge community for solving your problems.
2) burn it on a DVD
3) boot into the live linux using the DVD
4) now in this step since you just want a bitcoin address to dump bitcoin and hold for a long time you can use many different options. there are even smaller simpler ways to create a bitcoin address. but since we are here, install Electrum
5) write down seed, send funds shut down PC, nothing is saved on your PC to worry about!

Abdussamad

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Quote from: Valdos on August 03, 2016, 12:00:56 PM

If this has been asked please direct me to correct thread. If its really dumb please explain why.

If i create a new electrum wallet. I have money transferred into it. Then i delete wallet from my computer. If my computer has not been previously hacked, is this a fairly secure method of storing bitcoins. Obviously i have my seed written on paper. So five years from now could i just create wallet from seed and everything would be there?

Thanks,
Valdos

Deleted files can be recovered. They are just marked as free space by the operating system. If you get malware before the OS overwrites that area of the disk with other data the malware has the opportunity to recover the wallet file and get at your coins. It's far fetched no doubt because no one creates malware to go fishing for bitcoin wallets among deleted files. But it's possible.

dsattler

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Quote from: Valdos on August 03, 2016, 12:00:56 PM

If this has been asked please direct me to correct thread. If its really dumb please explain why.

If i create a new electrum wallet. I have money transferred into it. Then i delete wallet from my computer. If my computer has not been previously hacked, is this a fairly secure method of storing bitcoins. Obviously i have my seed written on paper. So five years from now could i just create wallet from seed and everything would be there?

Thanks,
Valdos

Exactly. The seed is all you need to take control over your bitcoins again.

If you want to take security one step further, you should look into offline-created paperwallets. This method protects you against trojans on your pc which could send out your wallet seed when your connected to the internet.

Valdos

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If this has been asked please direct me to correct thread. If its really dumb please explain why.

If i create a new electrum wallet. I have money transferred into it. Then i delete wallet from my computer. If my computer has not been previously hacked, is this a fairly secure method of storing bitcoins. Obviously i have my seed written on paper. So five years from now could i just create wallet from seed and everything would be there?

Thanks,
Valdos

Topic: First post, go easy. Electrum wallet security (Read 620 times)