Do not let anyone knows your seed phrase. Open source or close source wallet can not help against the person that knows your seed phrase because the person can steal your coins.
The benefit of open source wallet is that the public know its source code, unlike close source wallet that its source code is only known to the developers that created the wallet, and vulnerabilities can be included which the public can not know about.
Topic: from closed source to open source wallet[what is the risk] - page 2. (Read 339 times)
I have read many places in the forum and I have come to conclusion that majority of the forum members do not trust closed source code wallets.
I advice my friend to migrate from trust wallet to an open source non custodial wallet. He agreed to do so and I will have to help him do that. But as he left my house, one question rang in my head:
What if as he is coming from closed source non custodial wallet and let's say the guys at the backend knows his seed phrase (if possible). He then imported his seed in a closed source non custodial wallet.
The guys who I supposed know his seed phrase from the closed source now steal his bitcoin while it is in the new open source wallet.
Is it possible and what will be the role of the closed source non custodial wallet to ensure the security of seeds imported into it.
I advice my friend to migrate from trust wallet to an open source non custodial wallet. He agreed to do so and I will have to help him do that. But as he left my house, one question rang in my head:
What if as he is coming from closed source non custodial wallet and let's say the guys at the backend knows his seed phrase (if possible). He then imported his seed in a closed source non custodial wallet.
The guys who I supposed know his seed phrase from the closed source now steal his bitcoin while it is in the new open source wallet.
Is it possible and what will be the role of the closed source non custodial wallet to ensure the security of seeds imported into it.
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