![]() ![]() In the past, hackers have used false domain names like “” to lure inexperienced Bitcoin investors. The most important step in creating an Electrum Wallet is verifying you’re on the correct website. You could also export the private keys in your wallet to a hardware device (e.g., a USB stick) or save them as an external file. The Electrum Wallet also allows users to create a multi-signature address, add 2FA, and access the Bitcoin Lightning Network.Ĭurrently, the Electrum Wallet is available for download on Windows, Linux, MacOS, and Android devices. Not only is the Electrum Wallet free to download, it integrates with many hardware wallets like Trezor, Ledger, BitBox02 and others. However, those who want a BTC storage solution will quickly discover the Electrum Wallet has many attractive features. So, if you’re interested in storing altcoins like Ethereum or Dogecoin, you’ll need to look into other options. Since the Electrum Wallet is open-source, anyone can review its code at any time on Github.Īs mentioned above, the Electrum Wallet is only compatible with the Bitcoin blockchain. The computer scientist Thomas Voegtlin remains the driving force behind the Electrum Wallet, but many other developers have contributed to this project. Created in 2011, this Bitcoin wallet is one of the oldest free software applications for those who want to control their BTC. This guide will run through the basic process of setting up an Electrum Wallet and the most common ways you can restore it.įor long-time Bitcoin fans, the Electrum Wallet needs no introduction. Thankfully, there are many ways you can restore Electrum Wallet access-even if you forgot your password or your seed phrase is not working. While these bonus safety measures can help protect your crypto, they may increase the odds of misplacing vital info and losing access to your wallet. Also, while creating a new Electrum Wallet, you can add security features such as a password, multiple signatures (i.e., multisig wallets), and two-factor authentication (2FA). The Electrum Wallet gives users a 12-word seed phrase they can use to restore access to lost funds. ![]() Since the Electrum Wallet is self-custodial, you will have complete control and responsibility for any BTC you transfer into it. Although newer wallets like the Coinbase Wallet, Exodus, and Atomic Wallet have been gaining attention, Electrum remains a popular option for people who want a simple and free way to store their Bitcoin. For over a decade, countless Bitcoin holders have relied on the desktop or mobile Electrum Wallet as their primary means of securing BTC. ![]() The Electrum Wallet has a long history in the crypto community.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |