![]() However this is not nearly as secure as using a dedicated hardware wallet. If you have an old phone or laptop you don't use, you can store your private key there and make your own cold storage. Right now your setup isn't terrible, it's much better than keeping it in an exchange wallet, but it's still is open to remote attack. They generally cost around $100 so you'd have to decide what amount of bitcoin is worth spending $100 to secure as best as possible. Electrum is a client based wallet meaning that in order to use it you need to download and install it on your computer. The original Electrum wallet was created for the Bitcoin Core (BTC) chain, and is considered one of the top Bitcoin. Electrum Overview Created in November 2011 by Thomas Voegtlin, Electrum has since been modified by various developers (the code is open source). ElectrumSV version 1.0.0 is available at electrumsv.io and is provided for free usage under the open source MIT license. As you mention if you don't have alot of bitcoin it might not be worth paying for a hardware wallet. ElectrumSV is a conversion for the Bitcoin SV blockchain of the popular Electrum wallet for Bitcoin. However the main point is you would realize it's missing and have time to move your bitcoin to a new private key. Even then it would be difficult because they are generally password protected and use secure chips. Because of this someone would physically have to have the hardware wallet to even attempt to steal the private key. Search syntax tips Provide feedback We read every piece of feedback, and take your input very seriously. You should never share private keys, seed, or wallet file with anyone. The benefit of a hardware wallet is that it stores your private key offline all the time or in cold storage. BTCP Electrum (Lite Wallet), Use all wallets with caution. From what I have read, from version 2 the Electrum wallet file is in JSON format - so should be readable with a text editor / viewer. It is intended to protect your privacy, but also to prevent you from requesting bitcoins on a wallet that you do not control. This wallet setup is known as hot storage. Wallet file encryption is activated by default since version 2.8. If this happens they can spend from your wallet just as you can. Right now your full public key is stored in the wallet file on your desktop, which I assume is connected to the internet and other devices, so a bad actor could access your wallet file remotely over the internet and possibly get your private key. IF YOU SEE SPAM, USE REPORT LINK INSTEAD OF JUST DOWNVOTING Only specific/technical questions and answers that are relevant to beginners, no debating and opinions Altcoin questions and discussion are not allowed. r/BitcoinBeginners is not for posting new websites, memes, faucets, affiliate links, news, concern trolling, blog articles, or promoting altcoins and ICOs.īitcoin related Questions only. This subreddit allows open discussion where peer review occurs. ![]() ![]() Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. Bitcoin for Beginners is a subreddit for new users to ask Bitcoin related questions. ![]()
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