FireFox VS WaterFox: Is One Preferable Over The Other?

Some people prefer Waterfox as it tends to be faster than Firefox. However it shares the same profile and is known to cause problems with Firefox.

See: tried waterfox and screwed up my firefox

Other disadvantages: When a new version of Firefox is released Waterfox is often updated only weeks later leaving you with a potentially dangerous to use browser with unpatched vulnerabilities.

Your System Spec doesn't show the version of Windows that you are using - 32bit or 64bit?

I'd avoid Waterfox and choose another Firefox variant that uses it's own profile.

There are a lot of PaleMoon users here but personally I prefer Cyberfox.

Edit: I've never found a current Firefox addon that would not work in Cyberfox!

Okay then Waterfox shares the same profile as Firefox here:

C:\Users\user name>\AppData\Roaming\Mozilla\Firefox\Profiles\<profile folder>

Or

%userprofile%\Appdata\Roaming\Mozilla\Firefox\Profiles

If you uninstall one or the other in future you will lose your profile information

Backup everything in that folder plus the profiles.ini file to another location away from Appdata.

Another alternative is to create more than one profile and select which profile to use every time you lauch Waterfox or Firefox.

Why mess about? Just test PaleMoon or Cyberfox as in my opinion they are both better browsers and have their own separate profile.

You can use Cyberfox Profile Buddy (separate download) to transfer bookmarks and extensions into a new profile.

EDIT: 32bit Plugins will not work in 64bit Waterfox. (Java and so on)