How is an Electrum Wallet stored and where on macOS?

[alexlouismorlevat]

Hello,

I just updated the Electrum version of macOS.

When I started it again, it asked me to create a new wallet. But when I clicked next it has immediately shown the wallet I had with the previous version 5min before that. It's great but it doesn't make sense and I love to understand (or instead, I HATE NOT to understand...... )

I don't understand where are stored the BTC locally? Or maybe they are not stored locally?

I saved the seed of the wallet. Is it really the only thing we need to restore a wallet in case of computer failure?
Only with Electrum or does it work with every software or online service?

Isn't there a file somewhere in my local macOS that is my wallet and that I can copy to a USB key?

If you have links to tutorials to help me understand how all this works. I would appreciate it because I understand NOT MUCH...... except that I need to keep the seed safe. I would feel safer storing my BTC on an online service but everyone says it's a bad idea... Right?

Thank you so much for your help <3

Alex Louis Morlevat

[jackg]

You only need the mnemonic (seed words) in order to recover your bitcoin. Nothing else is needed.

Most likely you've tried to make a new wallet and then not changed the name of the new wallet so electrum tries to load up the old one.

If you want to know where the data is stored ill have to ask if you've installed your wallet or if you're running a standalone binary?

[bob123]

When I started it again, it asked me to create a new wallet. But when I clicked next it has immediately shown the wallet I had with the previous version 5min before that.

Are you sure that it showed the same wallet file?
Or did it just have the standard name default_wallet ?

Because if you have created your wallet, electrum should automatically open that file.
What happens if you go to File -> Recently opened? Do you see your wallet file?

Isn't there a file somewhere in my local macOS that is my wallet and that I can copy to a USB key?

Yes, there is.
The default directory is ~/.electrum
And the default name is default_wallet

[HCP]

Because if you have created your wallet, electrum should automatically open that file.
What happens if you go to File -> Recently opened? Do you see your wallet file?

If you have set a password and left file encryption on (the default setting), then Electrum will open the "Electrum - install wizard" screen when you start up, note the password prompt:

Isn't there a file somewhere in my local macOS that is my wallet and that I can copy to a USB key?

Yes, if you click the "Choose..." button on the screen above, it will open the directory containing all the wallet files that have been created.

I saved the seed of the wallet. Is it really the only thing we need to restore a wallet in case of computer failure?
Only with Electrum or does it work with every software or online service?

Yes, the 12 word seed mnemonic is all you need to recover. This 12 word seed is specific to Electrum, it will not work in 99.9% of other wallet software (I believe there are 1 or 2 other wallets that support Electrum seeds, but they are the exception, not the rule).

If you have links to tutorials to help me understand how all this works. I would appreciate it because I understand NOT MUCH...... except that I need to keep the seed safe.

Maybe have a read through some of the guides here: https://bitcoinelectrum.com/

They might explain some of the questions you have. Alternatively, the electrum docs are here: https://electrum.readthedocs.io/en/latest/

I would feel safer storing my BTC on an online service but everyone says it's a bad idea... Right?

Ask the people who have funds stuck in Cryptopia how leaving coins on an online service worked out for them so far: https://bitcointalk.org/index.php?topic=1669443.new#new
or the users of Mt. Gox...
or the users of the countless other services that got hacked/closed unexpectedly...

"Not your keys, NOT your Bitcoin"

[Husna QA]

-snip- Isn't there a file somewhere in my local macOS that is my wallet and that I can copy to a USB key?

Open Finder, then click Go menu -> Go to Folder (Shift+Command+G) then type ~/.electrum look for the Wallets folder, there you will find your Electrum wallet files (by default). You can copy it to a USB flash disk or other media.

[nc50lc]

Here's the information that you need including other FAQs: https://electrum.readthedocs.io/en/latest/faq.html#where-is-the-electrum-datadir-located
BTW, Electrum will display the name of the last wallet that you opened if the "config" file inside the data directory is intact.

If you have links to tutorials to help me understand how all this works. I would appreciate it because I understand NOT MUCH...... except that I need to keep the seed safe. I would feel safer storing my BTC on an online service but everyone says it's a bad idea... Right?

It's for you to decide and it seem like you're already aware of the risks.
If you decided to do that, make sure that the file is encrypted and if you like, disguise it as another type of file (like .jpg) since you can freely add an extension.
And couple it with a bunch of .jpg images, and you have a hidden wallet.

Example (testnet) - with '.mp4' extension:

[bitmover]

I don't understand where are stored the BTC locally? Or maybe they are not stored locally?

Your private keys are stored in your computer like people here already replied .

However,  your btc aren't really in your computer. Your bitcoins are stored in every full node, I.e., every computer running a bitcoin core or some other implementation.

This is why it is called decentralized.  Your bitcoins cannot be deleted if the folder is deleted

What makes your bitcoin spendable only by you are the private keys. Although your bitcoin are everywhere, they can be spent by anyone  and anywhere just by using the private keys .