I downloaded Electrum software today after a tip to move my bitcoin to a wallet. I found it very easy to do. My initial purchase of Bitcoin was 2.5 or 3.5 years ago, and it has gone up quite a lot in value of USD. So I wanted to protect it. I guess I was lucky that what I had left in coinbase was still there.
Anyway my main question is I read that I should backup my wallet. How do you do that? I don't have a clue where Electrum stores the wallet. I had trouble finding how to even open electrum after initially installing it.
Another question I have is at what amount of money do you think it reasonable to store using electrum... when is it worth spending money to store my bitcoin.
One other topic: I bought a very small amount of ethereum and dogecoin this week ($25 and $20). I have to get wallets for that too? I used the Voyager app to buy these but I don't think I want all these different wallets. Should I just convert these to BTC?
Sorry for all these questions but I bought bitcoin a few years back and paid no attention to it. Now I am trying to be more serious about it and am having a lot of trouble getting my head around it all.
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source https://www.reddit.com/r/btc/comments/lc5agq/bitcoin_to_electrum_from_coinbase/
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