Electrum Wallet Inquiry

[KaKeKi]

Hello Everyone,

I would like to ask you all a question. Is it possible to receive funds (BTC) via an Electrum standard wallet without using an internet connection?

Would you please advise about the pros and cons of such an option?
Would you do it?


Thank you for your responses!

Sincerely,
Caroline

[Charles-Tim]

Electrum wallet will have to sychronize with the blockchain and needs internet connection. Even if you use Electrum server and run your own node, you will still have to make use of internet connection (like while connecting to Tor) to run your own node. You can not access your coin received without internet connection.

But for only receiving, you do not have to connect, internet connection is not necessary, if the sender send the coin already, you can even check that on blockchain explorer without connecting your wallet online. But you can not spend unless you have active internet connection.

Advice, to make your private key remain offline
You can setup a cold storage and watch-only wallet, you can setup airgapped wallet only and make use of blockchain explorer only if you are not spending from the cold storage wallet anytime soon (use Tor for the blockchain explorer tracking). Or, you can buy a reputed hardware wallet.

[Maus0728]

Technically, the funds being received are recorded in the blockchain, not on your device.

This means that you can receive your bitcoin while being offline. However, if you want to check that the transaction succeeds, then you need an internet connection to sync your Electrum for the balance(received amount) to reflect.

[Charles-Tim]

However, if you want to check that the transaction succeeds, then you need an internet connection to sync your Electrum for the balance(received amount) to reflect.

I completely agree about this. But assuming someone called me that he has sent me bitcoin to a known address, and I am not with my Electrum wallet at the time, I can easily just use Tor to anonymize my connection on one of the blockchain explorers to check if he has truly sent the coin. So, to check if the transaction is successful, Electrum is not necessarily needed to connect online. But I get your point, you are right.

[o_e_l_e_o]

Is it possible to receive funds (BTC) via an Electrum standard wallet without using an internet connection?

Absolutely. The receiving address or wallet does not need to be connected to the internet in order to receive coins.

Would you please advise about the pros and cons of such an option?

It depends on how you have set up your wallet. If your Electrum wallet is on your main computer and will connect to the internet when you open it up, then there are literally no pros or cons. Whether or not your wallet is connected or not at the time makes no difference to receiving coins or the security of your wallet. If, on the other hand, you are talking about setting up a cold storage Electrum wallet which is permanently airgapped (i.e. on a computer which has no internet connection and will never connect to the internet or other devices, ever) then the pro is much greater security with the cons being the requirement for a second computer and it taking a bit longer to make transactions as you have to move them back and forth between your main computer and your airgapped computer.

Would you do it?

Yes. A hot wallet (Electrum on your main computer with an internet connection) is not very secure. The extra time and cost involved in running a cold wallet (Electrum on an airgapped computer) is definitely worth it for the additional security.

[KaKeKi]

I guess the purpose of the inquiry is to avoid being scammed.
I understand that you can digitally receive BTC to any wallet, even if it's not connected to the internet. But to verify and authenticate the exact amount and the actual delivery, I would need to be connected to the internet.
How can I verify the amount of BTC received offline?

Thank you all for your responses!

[nc50lc]

-snip-
How can I verify the amount of BTC received offline?

Create a "watching-only" wallet version of your offline Electrum, there, you can see the balance and transactions.
It's part of the cold-storage set-up suggested by users above, the watching-only wallet only contains your public keys so your funds are safe even if it's 'hacked'.

[DireWolfM14]

I guess the purpose of the inquiry is to avoid being scammed.

Do you mean avoid having your wallet hacked?  There're plenty of ways to get scammed that have nothing to do with hijacking your wallet, crooks are cooking up new ways to steal our money everyday.

I understand that you can digitally receive BTC to any wallet, even if it's not connected to the internet. But to verify and authenticate the exact amount and the actual delivery, I would need to be connected to the internet.

You must have a connection to the blockchain to confirm whether an address has received funds, and verify the quantity of the funds.  The easiest way to connect to the blockchain is through an internet connection.

How can I verify the amount of BTC received offline?

As nc50lc suggested, a watch only wallet is essentially just a list of your receiving addresses, but it needs to be connected to the internet to synchronize with the blockchain.  Once you've created and secured a seed phrase the corresponding private keys don't ever need to be restored to an internet-connected wallet.

[dkbit98]

I understand that you can digitally receive BTC to any wallet, even if it's not connected to the internet. But to verify and authenticate the exact amount and the actual delivery, I would need to be connected to the internet.
How can I verify the amount of BTC received offline?

Your wallet doesn't need to be online, and you can always check your wallet address or transaction in any blockchain explorer to see your address balance.
You need to be online to check your balance, but there is no danger that you can get scammed like this.
There is alternative option to use some air-gapped hardware wallet together with electrum for extra security.

[Pmalek]

-snip-
How can I verify the amount of BTC received offline?

Create a "watching-only" wallet version of your offline Electrum, there, you can see the balance and transactions.

The correct answer is you can't check and verify that you received a transaction without an internet connection. Let's not talk about Blockstream Satellite. Whether its a watch-only or a regular hot wallet, it needs to communicate and receive transaction info from the servers, so an internet connection is a must.

[KaKeKi]

I have another question associated with the wallet. Which venue is faster to authenticate and more reliable, to send someone your wallet address or several public addresses?

Thank you!

[o_e_l_e_o]

I have another question associated with the wallet. Which venue is faster to authenticate and more reliable, to send someone your wallet address or several public addresses?

It's not entirely clear what you are asking here. I think by public addresses you simply mean "address", and by wallet address you maybe mean "master public key or zpub".

In general, if someone is trying to send you bitcoin, then it is better to send them a single unused address from your wallet. They can use that address to pay you as many times as they want. Alternatively, they can use that address to pay you once, and the next time they want to pay you you can give them another unused address from your wallet.

Your master public key can be used to generate all the addresses in your wallet (but not spend any coins). If you give someone your master public key, then they will be able to see all the addresses in your wallet, which will include any payments you receive from other people or any transaction that you make. You will therefore have zero privacy.

Neither is faster or more reliable - in both cases the coins will reach your wallet with the same speed and security.

[BitMaxz]

~snip~

This is not the right place to contact Electrum if you want to contact the developers of this wallet you can go directly to their Github page here https://github.com/spesmilo/electrum/issues
Then make your own thread or post there.

But I believe you will be ignored because their Wallet is focusing only on Bitcoin and security and no 3rd parties.