Topic: Some questions about electrum wallet - page 2. (Read 1271 times)
There is recovery phrase of 12 words which you have to save in safe place to recover your electrum wallet in such scenarios, also don't forget to use strong password so that other's can't send out bitcoin from your wallet even if they get access to your wallet or recovery phrase.
What if my electrum wallets gets deleted or uninstalled from my laptop having bitcoins it it ?
What if my laptop get stolen/or its get corrupted and never get opened again ?
What if my laptop get stolen/or its get corrupted and never get opened again ?
Electrum generates you this thing in the beginning called "Seed" it is a set of 12 random words that you should write down on a piece of paper and hide it away. that "Seed" can be used to recover your wallet and anybody can do it. so in case you lost your wallet for any reason, you can install a fresh Electrum wallet and recover the funds this way.
the solution for your second question is either not installing a wallet and holding your funds on a device that can be stolen, or make it harder by encrypting the whole thing by setting up a password on the wallet.
besides you don't have to begin with $5000 worth of bitcoin! just begin with a small amount, test things and get more comfortable with everything and then buy/transfer the funds to that wallet.
also learn more about cold storage. the electrum docs has a good explanation.
Hii there as i said in my previous posts that i want to buy and hold my 4 bitcoins in some wallet and most users suggested me electrum.
Actually i am new in using desktop wallet i had some question.
What if my electrum wallets gets deleted or uninstalled from my laptop having bitcoins it it ?
What if my laptop get stolen/or its get corrupted and never get opened again ?
Actually i am new in using desktop wallet i had some question.
What if my electrum wallets gets deleted or uninstalled from my laptop having bitcoins it it ?
What if my laptop get stolen/or its get corrupted and never get opened again ?
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