Post
Topic
Board Bitcoin Discussion
Re: Different private key formats?
by
mk4
on 27/01/2020, 05:24:16 UTC
In my opinion those wallets are ONLY secure if you are using them for cold storage. If you are using them on a Windows computer with a password then you are better off just keeping on a reputable exchange such as Coinbase using 2FA.

There are way too many malwares out there and almost everyday someone is getting their coins stolen even though they have secured their bitcoins with a password. So in my opinion use electrum on cold storage to sign your transactions or get a hardware wallet. If you can't do these then just keep them on an reputable exchange. Its more secure than your Windows computer.

While I definitely highly disagree with leaving funds on reputable exchanges even if they're reputable(because privacy, and because you know, MtGox and Bitfinex), I don't like using wallets on Windows devices either. If you don't use a Linux operating system for your personal computer, I'd highly suggest using wallets on phones instead, as I find them a lot safer(assuming you keep the security updates up to date, and stay unrooted).

But yea, of course, hardware wallets or airgapped devices for cold storage is still the way to go.