Should Electrum users give out their master public key?

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I have seen a recent service advertising that users can turn their Electrum Wallets in to a "Cold Wallet" by providing the 3rd party service the Master Public Key from the Electrum wallet.

Ignoring the "Cold Wallet" aspect, and besides turning over complete wallet privacy to a third party what other reasons should users be encouraged to do this or not do this?

PW Kad

Posted 2019-02-13T16:36:06.303

Reputation: 141

Answers

1

Users should be strongly discouraged from doing this because it makes them targets for robbery and extortion. Knowing a user's Electrum Master Public Key is equivalent to knowing all of their addresses and being able to look on the blockchain to see if they're worth robbing.

user58807

Posted 2019-02-13T16:36:06.303

Reputation:

Asked: 2019-02-13T16:36:06.303

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Active: 2019-02-13T21:38:35.257