Post
Topic
Board Beginners & Help
Re: [GUIDE] Bitcoin Wallets - What's the best for you?
by
Decoded
on 04/10/2017, 10:27:58 UTC
Thank you so much. I'm currently experimenting with bitcoin so probably won't get a trezor or ledger. Is electrum a good option for beginners?

It's the best option as long as your computer is clean from any malware and you're not holding large amounts of bitcoins, whether you are a beginner or not.

Yep. Electrum's wallet is basically Bitcoin Core, without the syncing. It has almost all of the original wallet's features, and more. The problem is that the security is fairly simple. All your private keys and transaction history is dumped into a single file, making it easy to access. You can password protect it, but that's easy prey for a keylogger, or some RAM skimming malware when your wallet is open.

If you're going to be using advanced features like multi-send or just want more control and want to learn about how these wallets work, use Electrum. But some multisig wallets have advanced security features (usually less functionality, though) and even insurance.