Are software wallets safe? (i’m reposting this from another subreddit)

247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


I'm wondering if software wallets are safe. When i use a software wallet on my phone which provides a pass phrase (12-24 words BIP39 for example), is my private key inside that software wallet safe?

Is there the possibility that there is a "bug" in the software wallet which will leak my private key. Or could someone hack my phone, find an exploit, which allows the hacker to extract my private key from my software wallet?

I'm asking because i see so many providers let you generate a pass phrase for recovery and claim to be safe but i'm afraid of the scenario i just wrote above that the the wallet gets hacked somehow and because of that someone could gain access to my private key and funds.

Thanks for clarification. Emin

submitted by /u/eminogrande
[link] [comments]

247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


Leave a Reply