Electrum Support Number +1 (810)-355-4365 Electrum Contact Phone Number USA/CA
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Electrum supports a number of features, like hardware wallet support and the ability to set the Bitcoin transaction fee as well as rbf and childpaysforparent.
Large amounts of bitcoins should not be stored on your Electrum wallet! If you want the most secure Bitcoin wallet then you will need to use a hardware wallet like the Ledger Nano X or TREZOR T.
You should always do research before downloading or installing any Bitcoin wallet.
With that in mind, it can be helpful to look at what type of cryptocurrency investor the Electrum wallet is designed for.
Electrum isn’t designed for people just joining the blockchain space. It’s meant for cryptocurrency traders and investors who already know how Bitcoin works. There are no animated guides or walkthroughs and the GUI has not changed much since the wallet was introduced nearly a decade ago.
People holding Bitcoin who want a feature rich wallet with lots of privacy settings will find Electrum useful.
The first step is to download Electrum directly from the official website.
Head to electrum.org and select ‘Download’ in the top right menu bar.
This is a matter of preference.
If you are doing a lot of trading on an exchange that supports Segwit addresses, then you’ll want to choose segwit, as transacitons are cheaper using Segwit addresses.
However, a lot of exchanges do not yet support Segwit addresses yet, and so you would need a Legacy address to transfer BTC to those.
Input the seed phrase you just wrote down into this box to confirm you copied it correctly.
This step is optional, but recommended.
Here you can encrypt the wallet so that if someone ever gets access to your desktop, they will need your password to access the wallet.
It’s just one more way to protect your coins – just don’t forget what the password is because there is no one to call to reset it.