Post
Topic
Board Electrum
Merits 5 from 3 users
Re: Am I safe keeping more than 1 btc in a electrum wallet?
by
o_e_l_e_o
on 19/07/2021, 14:56:35 UTC
⭐ Merited by The Pharmacist (3) ,Lucius (1) ,ETFbitcoin (1)
I kept more than that amount on Electrum before I bought the hardware wallet
I would wager that when you kept >1 BTC on a hot wallet, it was worth a lot less than it is worth today.

It's all down to your own risk profile, but I would guess that for the majority of people on this forum, they shouldn't be storing anywhere near 1 BTC on a hot wallet. Different story if 1 BTC to you is just chump change, but for most people 1 BTC will represent a not-insignificant amount of money. I use hot wallets every day, and have been hacked or lost any money from them, but I'm only storing "daily spending" money on them - a couple of hundred dollars worth, at most, unless I am specifically planning to make a larger purchase in the near future and top them up with more for this reason. Anything approaching 1 BTC is either on a hardware wallet, airgapped wallet, paper wallet, or some other much more secure solution.

Assuming 1 BTC isn't chump change for OP, then he should only be storing it in an Electrum wallet if that wallet is airgapped. Storing an amount of money which is significant for you in a hot wallet is too risky. Even if you are 100% confident that there are no more bugs or vulnerabilities in Electrum, your computer itself could still be infected by clipboard malware, keyloggers, have the wallet file stolen from it, and so on.