I have an electrum standalone wallet for storing my BTC. I have three questions
1. I read that never store all your coins in one wallet. So wts the solution? should I install two electrum standalone wallets and store my coins in both of them?
2. I have written seed on a paper to recover my BTC in case my computer got corrupt. What thing apart from seed should I backup to recover my wallet in case my system is corrupted.
3. Strong password is good enough to secure a wallet or I have to do something else also.
Thanks.
1. It is upto you whether you want to store all your coins in one wallet or multiple wallets. I have been using a single Bitcoin wallet and I have been storing all of them in one place. Iit is okay to have multiple wallets as long as you are able to remember the Private key and seed information pertaining to the right wallet.
2. You only need the seed to get access to your coins on the Blockchain incase of any mishap. You just need to download the wallet once again and select Recover Wallet option to get access to your coins.
3. Strong password is good enough to secure the wallet.