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Whether you want to open your wallet on your pc in the privacy of your home, your pc at work or your laptop on-the-go, you can get full access to your wallet. Electrum has Wallet Syncing Functionality Once created, go to Wallet and then click “Information.” You’ll be given your Master Public Key, which you can transfer to your online machines in whatever fashion you like.

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Simply create a new wallet on your offline machine as you would any other. The transparent nature of Electrum makes this possible. And if you’re an advanced user, you may feel inclined to dig into how it all works.

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If you have software that you’re willing to put potentially very valuable assets into – you want to know it’s trustworthy. In theory, you could even create your own Electrum server too – if you were really concerned about redundancies. So it’s nice to know they have redundancies in place, to ensure your coins are never inaccessible. This is one functionality that other lightweight competitors tend to be missing. Meaning you can access your funds whenever you need to – even though it’s a lightweight client. Even if one server was to go down, they have many others in place. Electrum has Zero Downtimeĭespite being reliant on the Electrum servers, there’s never any downtime. This is about the next best thing, besides actually importing wallet data. Simply enter the private keys, follow the prompts and don’t change the address field! The private keys do not become a part of your wallet, but all of the contents do get sent to your wallet. Sweeping private keys simply means to send all bitcoins the keys control to a destination address (your wallet). Electrum can Sweep Private Keys From Other Wallets

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And despite saving the wallet on the disc, the password doesn’t have to be saved alongside it as Electrum uses asymmetric encryption. it also has wallet encryption on by default (requiring a password to access your wallets). Electrum password prompt to access a wallet So, your coins are theoretically encrypted as securely as your country’s secrets. This is the standard that government bodies have set for their ‘top secret’ data to be encrypted with. Your seed and private keys are encrypted using AES-256-CBC. Not only that, but it uses SPV ( Simple Payment Verification) to verify any information it receives from its servers. Meaning your privacy is not being risked because you’ve chosen to use a lightweight client. Electrum Communicates SafelyĮlectrum does not send private keys to the servers it uses. And as secure as a Bitcoin private key, as the seed possesses 132 bits of entropy.

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Electrum’s secret seed generation pageĮlectrum provides you with a series of ‘random’ words that – when entered into its wallet restoration page – will get you back into your wallet. However, that’s not the case with Electrum. There’s very little forgiveness, and you have to accept that your wallet (and its contents) is gone. If you lose your wallet data, with other wallets, that’s usually pretty much it. Secret Seeds to Recover Forgotten Wallets There are many other features that we’re here to explore as well though. That’s great but it doesn’t inherently make it a must-pick wallet. However, for more advanced users – a full blockchain wallet is recommended. There’s no inherent risk or detriment to using a lightweight wallet if all you plan to do is use it to send and receive coins. Very little besides saved hard drive space. What does this mean for you as a user of the wallet? Meaning it relies on other wallets/nodes (with the full blockchain) to verify the transactions are in line with the blockchain. Unlike some other wallets, for example Bitcoin Core, Electrum is what’s called a lightweight wallet. That feature is, quite simply, the fact that you do not have to download the entire blockchain to use Electrum wallets. However, there’s one feature above all others that makes it a cut above a lot of other wallets. There are a number of features that make Electrum a great pick. 3.1 Electrum Can’t Import Wallet Data From Other Wallets.2.8 Electrum has Wallet Syncing Functionality.2.7 Electrum has Offline Wallet Support.2.4 Electrum can Sweep Private Keys From Other Wallets.

2.1 Secret Seeds to Recover Forgotten Wallets.

1 What feature makes Electrum stand out?.

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