Where is exe in Electrum Windows Installer package

[nuube]

Hi all, this is my first post so - HELLO, and please go easy!

I've been reading on bitcoin for sometime and on crypto in general. I have decided to jump in and invest some so am in the process of setting up and getting ready to make (and store) my millions of £$£$£ that I'll be getting the fist few days  

I've been setting up, well trying to set up Electrum on my computer using the Electrum Windows Installer package and have been struggling but think I am nearly there.

I've read guides til I can't tell up from down. Can anyone advise any good reading material?

Thanks

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[mocacinno]

Hi... First of all, welcome

Secondly, before you do anything else, there are two important remarks i need to make before you continue:

• Firstly: in case you're not kidding, and you'll actually invest a lot of money, don't go for a desktop wallet! Go for an airgapped setup, properly generated paper wallets or hardware wallets
• Secondly: a lot of phising sites are offering scamversions of electrum... Did you verify electrum's signature? The binary HAS to be signed by ThomasV

In case you were kidding about those millions you're going to invest, and you'll actually just be playing around with pocket change: could you elaborate about what's going wrong with electrum's installer? A screenshot or an error message tells us a lot about what might be going wrong

[hugeblack]

The Windows Installer ---> (https://download.electrum.org/3.3.8/electrum-3.3.8-setup.exe   Verify signature first) It is the real executable file where the executable is created in the "Program File," and a shortcut is created, thus as any normal program. In addition to access to the rest of the users with giving permissions.
Standalone Executable: Neither the creation of a registry nor elevated privileges requires "access to administrator privileges to install the software."

Go to ---> Bitcoin Forum > Bitcoin > Development & Technical Discussion > Wallet software > Electrum and ask.

[AB de Royse777]

• Firstly: in case you're not kidding, and you'll actually invest a lot of money, don't go for a desktop wallet! Go for an airgapped setup, properly generated paper wallets or hardware wallets

I would suggest a 2/2 multiSig wallet. Keep both keys in separate places which only OP will know or he can tell those he trust just in case if anything happens to him.

I have seen vulnerability in paper wallets, no complain about hardware wallet though but since it's only the seeds to know, I find it easier to discover than a 2/2 multiSig wallet.

So, I would not mind if someone use desktop wallet but a multiSig address (minimum a 2/2). It's more secure in my opinion.

[bob123]

I have seen vulnerability in paper wallets

For example ?

The only thing i can imagine is a vulnerability in the software creating those paper wallets.
But a paper wallet itself can not be vulnerable because it is no electronic interface. How can it be vulnerable to anything other than loss or theft (which applies to everything; hard drive, hardware wallet, etc..) ?

Wrong usage can lead to loss of funds. But then not paper wallets are to blame, but the person using them.

[Lucius]

I've been setting up, well trying to set up Electrum on my computer using the Electrum Windows Installer package and have been struggling but think I am nearly there.

The installation process itself is pretty straightforward after you download file from Electrum site. After you click on Electrum exe the installation process will begin and you will need to follow few steps.

First step is option how you want to connect to server and you should leave that on Auto - connect, then you have choice to select name of wallet, and if you do not have in plan to have more then one just leave default_wallet and click next.

In next step select Standard wallet, then Create new seed and you will get in next window 12 words which you should write down on paper and keep in safe place ( this is your backup). Before that you have option to select seed type, and you should go with Legacy for start. There is option to encrypt your wallet with password, and this is something you should do, but be sure to save that password with your seed words.

Now you have your wallet, and for start you can check Tools tab and switch from mBTC unit to BTC only and select option that wallet is show also fiat value of your coins. To receive coins in wallet click Receive tab, and copy / paste that address for example on exchange from where you will buy Bitcoins.

Pay great attention to safety, to download Electrum from official site, verify signature and that you have clean PC (malware / virus free).

[o_e_l_e_o]

Where is exe in Electrum Windows Installer package

The installer .exe file is available from https://electrum.org/#download. Ensure you verify your file after downloading it by following the instructions here: https://bitcoinelectrum.com/how-to-verify-your-electrum-download/

Once installed, the program .exe file will be inside the directory you chose when you installed it. The default install location for Windows will usually be "C:\Program Files\Electrum" or "C:\Program files (x86)\Electrum". Inside that folder there will be a file named "electrum-3.3.8.exe". The installer should also create desktop and start menu shortcuts.

[NeuroticFish]

I have decided to jump in

Please make sure you understand the basics, else you may lose funds without understanding what you've done wrong.

First of all, whatever wallet you use, the wallet never holds Bitcoins, it usually holds (in a way or another) private keys or seed. The coins are "on the blockchain".
And the private keys (or seed) are the things that allows spending your funds.

This means that you have to keep safely the wallet, the computer it is on and the backups for your seed / priv key / paper wallets. Keeping them in mail or dropbox is not safe.
If it's about big funds, reading about cold storage and hardware wallets could help. (Cold storage is much safer than hardware wallets). Also paper wallets can be an option if long time holding is intended. But please read about creating them safely.

Also be careful when sending Bitcoin; always double check the target address (at least 3-4 characters at start, at the middle and at the end) since there's malware that can change the address while you copy/paste.

Reading a little at bitcoin.org could be useful. I'd start with https://bitcoin.org/en/you-need-to-know

[nuube]

Hi all, thanks very VERY much for all the replies.

I got the installer package wrong, (is that an omen?!), but eventually caught my rather noobish mistake and went through the process of verifying the installer as per the following instructions:

https://bitzuma.com/posts/how-to-verify-an-electrum-download-on-windows/

and read through this:

https://bitcointalk.org/index.php?topic=17240.0


I have installed and verified the Electrum wallet on my laptop - this is for practice as I plan to install on an offline PC creating and keeping the wallet on that with paper copies made and kept securely.

I registered with Coinbase and am awaiting verification of my account before I buy, but am watching the drop in Bitcoin so I am in no rush at the moment. I hope to get some other crypto-currencies although will focus primarily on Bitcoin for long term investment. This is purely investment and not for regular use.

While not putting in pocket money I will be hopefully investing my savings and although a small amount in the grand scheme of things its a nice but not life changing amount so I have thought LONG AND HARD and if I loose I loose. I will educate myself as much as I can and hopefully in years to come while not have millions, (although if you listened to all you heard its not impossible), I hope to have made a lot more than having the money in a bank account or under my mattress.

I figured I would pick your brains and see what sort of things I should be reading.

Thanks very much for your time.
 

[HCP]

I have installed and verified the Electrum wallet on my laptop - this is for practice as I plan to install on an offline PC creating and keeping the wallet on that with paper copies made and kept securely.

Kudos for taking the time to "experiment" and learn before jumping in feet first... the latter method has certainly cost a few people some $$$

After setting up the offline PC, you'll most likely be wanting to create a "Watching only" version of your wallet on your "online" PC by using the XPUB exported by the offline wallet. This will allow you to monitor your funds and also generate new receiving addresses as required should you want to deposit extra funds etc.

So, I would suggest that you get comfortable with this setup (ie. create wallet on your offline PC, export the xpub and importing that into a watching only wallet on your online PC etc) before committing funds.

Also, you might need to be careful regarding the "type" of wallet you create. I'm not sure if Coinbase supports "Native Segwit" (aka bech32 aka "bc1") addresses. This is the type of address that Electrum will generate if you select "SegWit" (it will warn you that it may not be recognised by other wallets/services). Your only other "standard" option within Electrum would be "Legacy", but then you lose the benefits of SegWit (smaller transactions -> lower fees etc).

While it is possible to generate a wallet in Electrum that supports "Nested SegWit" (aka P2SH-P2WPKH) addresses that start with a "3"... and are fully backwards compatible with all wallets/services... it isn't a standard option within Electrum (it's more of a "hack/workaround") and is not recommended for beginners... or you need to be using a hardware wallet like a Trezor or Ledger, which involves spending extra $$$ and would also make the offline PC setup redundant

I hope to get some other crypto-currencies although will focus primarily on Bitcoin for long term investment.

Note that Electrum is bitcoin only... you'll need to find other wallet applications should you wish to hold other currencies.

[nuube]

Kudos for taking the time to "experiment" and learn before jumping in feet first... the latter method has certainly cost a few people some $$$

After setting up the offline PC, you'll most likely be wanting to create a "Watching only" version of your wallet on your "online" PC by using the XPUB exported by the offline wallet. This will allow you to monitor your funds and also generate new receiving addresses as required should you want to deposit extra funds etc.

So, I would suggest that you get comfortable with this setup (ie. create wallet on your offline PC, export the xpub and importing that into a watching only wallet on your online PC etc) before committing funds.

Also, you might need to be careful regarding the "type" of wallet you create. I'm not sure if Coinbase supports "Native Segwit" (aka bech32 aka "bc1") addresses. This is the type of address that Electrum will generate if you select "SegWit" (it will warn you that it may not be recognised by other wallets/services). Your only other "standard" option within Electrum would be "Legacy", but then you lose the benefits of SegWit (smaller transactions -> lower fees etc).

While it is possible to generate a wallet in Electrum that supports "Nested SegWit" (aka P2SH-P2WPKH) addresses that start with a "3"... and are fully backwards compatible with all wallets/services... it isn't a standard option within Electrum (it's more of a "hack/workaround") and is not recommended for beginners... or you need to be using a hardware wallet like a Trezor or Ledger, which involves spending extra $$$ and would also make the offline PC setup redundant


HI HCP, many thanks for the advice - would you recommend a different desktop wallet other than Electrum? I had looked at Atomic and Exodus briefly before plumping for Electrum, maybe time to revise that?

From my reading, if I were to go the route I am planning then hardware wallets would be redundant so think sticking with the desktop/cold wallet route will keep things secure enough.

[mocacinno]

HI HCP, many thanks for the advice - would you recommend a different desktop wallet other than Electrum? I had looked at Atomic and Exodus briefly before plumping for Electrum, maybe time to revise that?

From my reading, if I were to go the route I am planning then hardware wallets would be redundant so think sticking with the desktop/cold wallet route will keep things secure enough.

Out of those 3 options (Atomic, Exodus and Electrum), i'd defenately advise you to stick to electrum! I've re-read HCP's post, but i couldn't find the part where he advised you to switch to a different desktop wallet...
As far as hardware wallets go: why do you think they'd be redundant? Desktop wallets are fine for holding petty cash, but if you're serious about investing in crypto, i'd defenately advise you to buy a decent hardware wallet. Cold (airgapped) wallets are perfect for people that have invested millions and don't mind the extra hoops you have to jump trough when receiving or spending funds... If you want a high level of security, but prefer an easy to use wallet, spend $100 and buy a ledger or a trezor (just my two satoshi's tough).

Security-Wise, it's more or less like this:

• unlicenced exchange wallets/unlicenced casino wallets => extremely unsecure, really confusing (all functions are propiatory, they can close accounts, they scam, they get hacked,...)
• licenced casino wallets => extremely unsecure (all functions are propiatory, they can close accounts, they get hacked,...)
• licenced exchange wallets (like coinbase) => unsecure (all functions are propiatory, they can close accounts, they get hacked,...)
• licenced online wallets (like blockchain.info) => unsecure (all functions are propiatory, they can close accounts, they get hacked,...)
• mobile wallets => relatively unsecure (risk of malware, risk of thefth of your device)
• desktop wallets => relatively secure (risk of malware, phising, vulnerability's,...)
• paper wallets => extremely secure (given that they were generated properly)
• hardware wallets => extremely secure (given that you bought a "decent" wallet that's endorsed by the community and keep it's firmware up-to-date)
• AIRGAPPED, COLD desktop wallets, preferably non-HD updated core => extremely secure (given that you setup everything properly). But spending funds is confusing for newbies

[HCP]

HI HCP, many thanks for the advice - would you recommend a different desktop wallet other than Electrum? I had looked at Atomic and Exodus briefly before plumping for Electrum, maybe time to revise that?

Nope... if you're not wanting to go for a full node/Bitcoin Core setup and are wanting a "SPV"/lightweight wallet, then I would recommend Electrum. There are just some minor caveats that you should be aware of as I stated above.

From my reading, if I were to go the route I am planning then hardware wallets would be redundant so think sticking with the desktop/cold wallet route will keep things secure enough.

It is more the other way around... hardware wallets made the air-gapped, offline PC setup redundant But they both effectively achieve the same thing... so if you already have a spare PC laying around to dedicate to the setup, then there is no reason not to use it and save a few $$$

An Electrum online/offline setup is a good secure setup.

[o_e_l_e_o]

Personally, I wouldn't say that either hardware wallets or airgapped wallets make the other one redundant. I quite happily use both for different reasons.

Hardware wallets are very secure, but also very convenient. It's as simple as plugging it in, typing in a PIN, and then I use Electrum normally. It literally only takes an extra 20 seconds beyond using a password-protect Electrum wallet, and far more secure. I use hardware wallets on a weekly basis, topping up my daily spend mobile wallets, paying for goods, receiving payments, etc.

Airgapped wallets are even more secure, but also less convenient than hardware wallets. It takes several minutes to boot up, load the wallet, generate, transfer, sign, transfer back, and broadcast a transaction. I use airgapped wallets for my main cold storage, sending coins to them every few months, but very rarely withdrawing from them.

One of the main benefits of hardware wallets is that they are much easier to use properly than an airgapped wallet. They come with easy to follow instructions, and do most of the technical stuff for you. With an airgapped wallet, you need to make sure it is properly airgapped (preferably with any networking hardware permanently removed), and you should preferably by using QR codes and avoiding removable media such as USB sticks to remove the chance of unknowingly infecting it with malware; because of all this, it is easier for the user to do something wrong.

[nuube]

Out of those 3 options (Atomic, Exodus and Electrum), i'd defenately advise you to stick to electrum! I've re-read HCP's post, but i couldn't find the part where he advised you to switch to a different desktop wallet...

No, it wasn't that he advised another wallet, rather he pointed out a flaw in my planning - to own other than Bitcoin (I actually had factored that in when I started reading some time back but forgot it when I went for Electrum), and I asked him to advise on another wallet - mentioning the ones above.
Thanks for advising.


HCP - yes Coinbase does support Segwit:


https://support.coinbase.com/customer/en/portal/articles/2924267-segwit-faq