![]() ![]() ![]() When creating a bitcoin wallet to be used as cold storage, it is necessary to use an old unused computer or smartphone, as such a device will no longer be connected to the Internet. First step: download and creation of the wallet Finally, there is also the functionality of Cold Storage using an old smartphone or PC. It also supports SegWit and several third-party plugins, as well as the multi-signature option, which allows approving transactions across multiple wallets. Moreover, Electrum, besides being really fast, also offers the possibility to export private keys so that they can be used in other bitcoin wallet clients, without having to transfer the funds to a new wallet. The latter is accompanied by a security passphrase for the recovery of funds in case the access key is lost. First of all, the encryption of the wallet itself. This is why it is difficult to use the official wallet on low-end PCs and laptops.Įlectrum refrains from downloading the entire blockchain by using a client-server protocol to access the blockchain stored on a network of redundant and distributed servers.īut there are many other features offered by Electrum. With the growth of transactions and the increase of blocks, as of today, the bitcoin blockchain has a size of about 230 Gigabytes. Electrum Bitcoin Wallet: history and detailsĮlectrum was born in November 2011 as an alternative to the official bitcoin wallet, which foresees a complete synchronisation of the blockchain locally on the PC. This allows the creation of a safe offline wallet at a minimal cost, considering that only a USB stick and an old unused smartphone or PC are required.Īs such, this could prove to be an interesting and cheap alternative with respect to the main hardware wallets. This guide will explain how to install and use Electrum, one of the main bitcoin wallets that does not require a complete synchronisation of the blockchain and that offers some interesting features, such as cold storage. ![]()
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