1

I just set up my Electrum wallet using live instance of Tails Linux distribution. I've written down the seed on the paper (and I remember it as well) and restarted laptop. I plan to do all Bitcoin transactions only via Tails so I plan to recreate the wallet every time I am using it and then wipe everything out with no trace on the computer.

There is just one thing I don't get, can I have any "static" address tied to my private key and seed or do I have to get it through creating wallet every time? Because I would like to send some coins to my wallet without booting to live distro and generating the wallet again (therefore I need to have and store address somewhere), is this possible? Thanks a lot for explanation.

And is this approach reasonably secure (or even possible)?

1

Your approach sounds secure.

You can use any addresses generated from your deterministic wallet to receive BTC without the need to boot up and recover your wallet first.

For privacy reasons you should generate multiple addresses from your HD wallet and one use each for receiving payments once. As long as you have your mnemonic seed you will be able to recover your wallet and all of its addresses at any time.

0

Yes, that is a fairly secure way to do it. A slightly more secure way would be to only use it on a computer that never goes online.

If your concern is primarily the safety of your private keys, you can export the Master Public Key and import it into Electrum on any computer. This creates a "Watching-only" wallet (i.e. cold storage) that can see all the addresses/balances, but cannot spend them because it doesn't contain the private keys. As @Game Changer mentioned, do not reuse addresses for privacy reasons.

Reference the Electrum Cold Storage Documentation for a nice How-To of setting this up.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.