Or you can do a multisig wallet between a phone and laptop.
Am I right that Electrum is also a multisig wallet? which means I can create multiple bitcoin address which I can use in different transactions? I heard that this is one of the best practice in maintaining your privacy and security.
Keep safe DaveF!
Multisig is not multi address. But yes electrum will generates new address every transaction.
This is multisig:
https://en.bitcoin.it/wiki/Multisignaturemore or less you can set it up that both wallets phone & laptop are the same. BUT you need to have BOTH of them to sign & broadcast a bitcoin transaction.
Someone gets your phone and pin and password to the wallet. No big deal without the PC you still can't send. Same the other way, your PC gets a virus and someone has complete control of it...still can't send.
The downside is you can't just send from your phone. You are out with friends and want to send some
BTC to one of them to cover a meal, you can't till you get home.
What a lot of people do is store larger amounts like that and have a 2nd wallet with some spending
BTC.
Oh, and if you do go this way TEST YOUR SETUP WITH A VERY SMALL AMOUNT BEFORE PUTTING ALL YOUR COINS IN THERE. Send a little to it and make sure you can send out.
-Dave