there are many wallets on the market. And I would appreciate if someone can clarify the key technical security advantages or disadvantages when using a SPV wallet vs a centralized wallet.
I am taking these two terms from the bitcoin.org page, and to give you an example by what they mean: SPV wallet would be eg the Electrum wallet. And a centralized wallet is eg the current “Ledger Live” App. SPV wallets validate transactions by connecting to multiple different nodes/servers, while centralized wallet apps only use their own servers for transmitting transactions.
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