Quote from: Z-tight on February 19, 2024, 12:34:55 PM

Quote from: virasog on February 18, 2024, 12:50:23 AM

I am saying this as it seems like you were using binance before (as you transferred funds from that exchange) , there you just get one single btc address and it does not change. Also, you have a lot of ways to secure your access to your account like password, 2fa as opposed the software wallets where you only have seed phrases to access your wallet.

In a software wallet, you can encrypt your wallet file with a password, and you can also add extra layers of security, like a passphrase or setting up a multisig wallet, it is also worth mentioning that you can set up a 2fa wallet in Electrum. The difference between a hardware and software wallet is that the former is an offline wallet that stores your keys offline, however you can set up your software wallet in an airgapped device which will likewise store your keys completely offline.

Softwires wallets even with encryption or passphrases may not be secure if the device has access to the internet. There are malwares that may expose your wallet keys to the hackers so software wallets aren't secure to store a large amount of bitcoins. The only way to make your device secure is to make it a cold wallet, that is a device that never touches the internet (termed as air gapped device).