ELECTRUM BTC

ELECTRUM BTC

Wallet type: Desktop wallet and mobile wallet
Platforms: Windows, Apple Mac, Linux, Android
Price: Free
Expert: Beginner to advanced user
Blockchain: SPV light client. Does not require full blockchain download
Access: 12 Seed words, Password. Multi-sig and Two-factor authentication is accepted
Segwit: Yes. Bech 32 Addresses. Bc1****
Website: https://electrum.org/#home
Warnings: Fake wallets named 4.0.0 have tricked people to surrender their seed phrase
Assets: BTC only


Pros:

  • Versatile wallet with many options
  • Offers watch wallet
  • Offers connection with hardware wallets
  • Creates new addresses with every transaction
  • Does recommend safety protocols
  • Balance can be viewed in Sats or Bits
  • Seed words will autofill
  • Can fine tune fee size and push transactions with replace by fee.
  • can view isolated addresses.
  • SPV light wallet does not download the full blockchain if space is an issue.

Cons:

  • Hot wallet based on your internet connected computer.
  • Old school appearance, but can switch to dark mode.
  • shortcut file does not exist, must use .exe every time.
  • Anti-virus programs have labelled it a threat due to phishing attacks.
  • Seed word entry is not numbered.

Conclusion:

Electrum is a fantastic all round wallet for beginners and advanced users. The format is very easy to navigate and offers and enormous array of modifiable settings, preferences and features to tailor your Bitcoin usage. This includes segwit and legacy addresses, multi signature, hardware wallet connection, fee adjustment, and replace by fee, messages and signing. The wallet also allows you to select which trusted node you wish to watch as well as linking to your own node.

The main drawback to the wallet is the older appearance and well as the seed words not being numbered at all, this is something that can be overlooked due to the excellent features included.

The one big warning as stated above is to look out for fake wallets or emails. Do not upgrade immediately if you feel there is an emergency upgrade. Consider any request to enter your seed at being suspicious. Always download from the official website.