![]() ![]() The wallet handles most functions with aplomb, especially the universal send-receive functionality. Some may think it is minimalistic and flashy – but isn’t that the case with every wallet. Most functions are available clearly on the screen with minimal search efforts. The graphical user interface of the wallet is pretty straight forward. Once the password is set, your electrum wallet is ready to use. Take due care while setting the password and ensure you choose a strong one. Once done with the seed phase of the installation, you will now be prompted to set up a password. The next step requires you to verify the seed. At this step, you can restore your lost wallet using a previously stored ‘seed phrase’ too. Next, you will be prompted for a ‘seed phrase.’ Write the seed phrase and secure it safely for any emergency recovery later. We recommend a two-factor authentication wallet or a multi-signature wallet to prevent hacks. They can also import their current wallet over. Step 2: Installationĭuring the initial setup, the installation wizard asks the user to choose from a range of options, including multi-signature wallet, classic wallet or a two-factor authentication wallet. It is compatible with Windows, Mac, or Linux. Visit the official Electrum website and download the Electrum wallet for desktop. Electrum Setup GuideĮlectrum wallet offers great installation flexibility giving users the much-needed hardware freedom. This means you can use Electrum’s interface for transactions while securing your private keys safely on the hardware wallet. ![]() Support for popular hardware wallets is also provided, including Ledger or TREZOR. Moreover, private keys are not exposed during the Electrum-Bitcoin connection for transactions. ![]() Add-ons – Support available for third-party plugins and hardware wallets.Įlectrum server does not store user accounts information.Multisign – Permissions can be split amongst several wallets.Proof Checking – SPV security checks verify all the transactions. ![]() No Downtimes – Redundant and decentralized servers ensure high up-time.No Lock-In – Private keys can be exported for use on other Bitcoin clients.Instant On – Bitcoin blockchain indexing servers deliver lightning fast speeds.Recovery – Secret ‘Seed Phrase’ helps quickly recover your funds.Safe – Encrypted private keys remain safe on computer.Users can access it in ‘watch-only’ mode and securely keep their private keys offline. A ‘ seed phrase ’ helps you recover your wallet in case of an emergency. Private keys remain safe on your computer and are always encrypted. It is a ‘lite wallet’ and does away with blockchain downloads, thereby avoiding setup delays. Electrum is only available as a desktop utility and can’t be used on mobiles/tablets.Įlectrum’s USP is its special focus on Bitcoin, high security, and privacy features. Being open-source, it is highly responsive to community inputs, and most new features are popular user-specific demands. A dearth of wallets led to its success, and since then, it has been constantly updated by the developers. Thomas Voegtlin launched Electrum in November 2011, and it quickly became the ‘De Facto’ wallet of choice for many Bitcoin owners. Third party plugins and hardware wallet integration.Highly reputable and trusted track record.What you’ll learn in this Electrum wallet review:ġ3 Frequently Asked Questions Overview of the Electrum Wallet In this guide, we will explore all the pros, cons, features, and details about the Electrum wallet. Mycelium Wallet Review: Best Features And Uses.Celsius Wallet Review: Get The Highest Interest Rates.Jaxx Wallet Review – Popular Multi-Currency Hot Wallet.So, let’s check out if Electrum is still the ‘King of Bitcoin Wallets.’ Few Bitcoin wallets can boast of a glorious legacy like Electrum, but the competition is getting stiff. Despite 900 cryptocurrencies in circulation, Electrum focuses solely on Bitcoin, and that’s what makes it one of the most trusted Bitcoin wallets today. Over the years, developers have added new features while staying true to the Bitcoin’s decentralized roots. Currently, an approximate 10 percent of all Bitcoin transactions are conducted through Electrum. Launched in 2011, it is often referred to as the best Bitcoin wallet due to its marvelous track record. Electrum is a veteran in the Bitcoin wallets realm. ![]()
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