Electrum Wallet

Electrum Wallet

go to Electrum Wallet: *

Cryptocurrencies: BTC



Description | Rating | Problems, Help & Questions ( 0 Comments)


The Electrum wallet is fast, efficient and lightweight as well as safe to use. In fact, it's one of the safest wallets according to users.

Electrum wallet for Bitcoin

The Electrum wallet for Bitcoin is an SPV wallet. 

This means that it does not verify everything, rather it relies on the connection of a trusted node to verify information.

It was created in 2011 by Thomas Voegtlin.

Electrum is distributed by Electrum Technologies, a company that is registered in Germany.

 

This wallet comes with the following features, including:

  • Encrypted wallet.
  • Deterministic key generation: Lost wallets can be recovered.
  • Instant on: the blockchain is not downloaded by the client. Information is requested from the server.
  • Updated regularly.
  • Local transactions.
  • User accounts are not stored on the server.
  • No scripts.
  • Open source.
  • Firewall friendly: 
  • It's free.
  • Written in Python. 
  • Support available.

 

The latest version (2.9) also comes with the following feature:

  • MCV is also was known as Multiple Chan Validation.

 

How to send and receive payments using Electrum wallet?

  1. To send a payment, open your Electrum Wallet.
  2. Go to the send tab.
  3. Fill out the required information.
  4. Pay to: recipient's bitcoin address.
  5. Enter Description.
  6. Enter monetary amount.
  7. Click send and enter your password as prompted.
  8. Your transaction has now been sent.
  9. You can check for your transaction in your history tab.

 

How to receive a payment, open your Electrum Wallet?

  1. Go to the receive tab.
  2. Then enter a requested amount. (Optional)
  3. Give your bitcoin address to the sender.
  4. Alternatively, they can scan your QR code, if you have one.   
  5. If not, give them your receiving address.
  6. If you have requested a certain amount, they will be prompted to send that amount. Otherwise, the sender will enter the amount manually.
  7. Wait for the sender to send funds.
  8. Check to see if you have received funds by going to the history tab.

 


How secure is the Electrum wallet?

The Electrum wallet is fast, efficient and lightweight as well as safe to use. In fact, it's one of the safest wallets according to users.

 

Electrum Pros & Cons

Pros:

  • Great Reputation and used by everyone.
  • Fast and easy to use.
  • Proficient privacy features.
  • Fitted with hardware wallets for added security.

 

Cons:

  • Not great for beginners.
  • Bitcoin only.

 




Your Name will be displayed next to your comment.

1 + 4 =





Interesting Articles

Investment

Reviewing CoinTracking: our experiences with detailed instructions

Reviewing CoinTracking: our experiences with detailed instructions

With this tool you can keep a clear overview of your own crypto-portfolio: current value, profit or loss of trades, balance sheets, realized and unrealized profits, tax returns and much more!

CoinTracking is an innovative management tool for over 5,400 existing crypto-currencies. With this you can check your own portfolio on the desktop as well as using the mobile app at any time. All data can be imported manually, via csv file or automatically via API. The basic version is free. If you intend to manage many trades, we recommend a lifetime account.

read more »

Cloud Mining

Investing in Bitcoin & crypto-currency cloud mining: is cloud mining worth it?

Investing in Bitcoin & crypto-currency cloud mining: is cloud mining worth it?

How can you make solid profit with digital currencies: what is cloud mining and should you invest in it?

Bitcoins have received a great attention all around the world due to its fantastically rising value in the crypto-currency industry. What wouldn’t if the price jumps three times in a matter of few months? With individuals and businesses interested become involved, it is only reasonable to question what options are available out there when bitcoin trade is concerned. 
This article investigates one of those options as it grew in popularity in recent times – Cloud mining. Join the ride as we take you through pros and cons of contracted mining operations, and whether it is worth your time or not.

read more »

Electrum Wallet Screenshot

0 Ratings



Electrum Wallet Contact

E-Mail address: email@electrum.com

Location: Germany



GreenAddress

In terms of security, it provides multiple two-factor authentications as well as an ever-changing address upon each transaction.

Keepkey

Being a hardware that a user can carry anywhere, the KeepKey wallet is more secure since it is less prone to hacking and online data theft.

Airbitz

The Airbitz wallet only supports bitcoins, the Bitcoin Cash, and other flat exchange rates. And is only available for mobile devices more specifically iOS and Android.

Bread

Bread Wallet uses SPV mode which ensures direct connection to bitcoin networks to smoothen transactions.

Copay

With multi-signature and multiple wallet support, Copay makes it simple for developers to test and demo bitcoin without fumbling other mobile apps.