Bitcoin Electrum

[phuhuyxyz]

I just started buying BTC, someone recommended me to use Bitcoin Electrum to store BTC. What is it and how do I use it? Thanks!

[1714675779]

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[1714675779]

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[1714675779]

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[Charles-Tim]

Download it from https://electrum.org
To verify its signature: [GUIDE] How to Safely Download and Verify Electrum [Guide]

It will generate you seed phrase, have like 2 or 3 copies of it in different locations written on a paper. Or you can get steel sheets for it which are resistant to water and fire.

Protect your private keys just as your seed phrase.

Only what you should give to people is your bitcoin address.

For high amount of bitcoin use airgapped/cold storage wallet or get yourself hardware wallet.

Read these:
https://bitcoinelectrum.com/electrum-wallet-types/#:~:text=Standard%20wallet%3A%20A%20deterministic%20wallet,one%20private%20key%20to%20spend.
https://bitcoinelectrum.com/creating-an-electrum-wallet/
https://bitcoinelectrum.com/creating-a-multisig-wallet/#:~:text=A%20multisig%20wallet%20is%20one,the%20funds%20in%20the%20wallet.
https://electrum.readthedocs.io/en/latest/coldstorage.html

[Hatchy]

There are many features of the electrum wallet that makes it outstanding but most users who have larger amount of Bitcoin would prefer to use a more secured means to store their Bitcoin that is the hardware wallets. Being a light weight wallet, the electrum wallet gives it users control over their private keys.

There's already a topic made on the use and features of the electrum wallets you  can check it out
https://bitcointalk.org/index.php?topic=3456040.0

https://bitcointalk.org/index.php?topic=3774520.0

[hosseinimr93]

There are many features of the electrum wallet that makes it outstanding but most users who have larger amount of Bitcoin would prefer to use a more secured means to store their Bitcoin that is the hardware wallets.

Electrum can be as secure as a hardware wallet if it's used in the correct way as a cold storage.
With installing and running electrum on an air-gapped device, your keys would be kept completely offline and your wallet would be completely secure.

[stadus]

Just watch some youtube videos and you'll certainly understand the process.

Here's one of the videos I saw.

How To Setup And Use Electrum Wallet (2023) Tutorial For Beginners


Disclaimer: not my Youtube channel.

[logfiles]

I just started buying BTC, someone recommended me to use Bitcoin Electrum to store BTC. What is it and how do I use it? Thanks!

If you are planning to buy amounts worth much to you, I suggest you invest more in security. For example, If you choose to use electrum, make sure you set up and open the wallet in an air gapped device to completely eliminate any points of weakness in security that might lead to loss of your Bitcoins

[BTCGalaxyA12]

I just started buying BTC, someone recommended me to use Bitcoin Electrum to store BTC. What is it and how do I use it? Thanks!

Electrum is an open source Bitcoin software wallet.
Electrum is a Bitcoin wallet that is over 10 years old. The trust of users who use Electrum wallets has been proven since 2011.
Users' private keys are encrypted.
Electrum is also the lightest wallet to use.

You can see all the features of Electrum on its website: https://electrum.org/
Electrum is available on desktop and mobile.
We recommend using the desktop version of Electrum. It's easier for you to use. Choose the Multisig one.
You can find out how to use the Electrum wallet at the link provided.

[UchihaSarada]

I just started buying BTC, someone recommended me to use Bitcoin Electrum to store BTC. What is it and how do I use it?

With Electrum wallet, you can create a Standard wallet (Single signature wallet), Wallet with two-factor authentication, Multi-signature wallet, Import Bitcoin address or private keys.

Because you only start, you can use a Standard wallet. It requires only one signer (one private key) to sign your transaction.

Don't use Wallet with two-factor authentication because it will cost you more fee from Trustedcoin that is a party provides 2FA for your wallet.

If you one to have a more secure wallet, use Multi-signature wallet.

Import Bitcoin address if you want to have a Watch-only wallet. Watch-only means you can only see transactions in and out but can not sign any transaction from that wallet.

Import private keys will create a wallet that allows you to sign a transaction.
Always backup the wallet seed. You need it to recover your wallet later.

Don't show your wallet seed online to anyone, any place. Show it means you give access to that wallet to many people who see it.

[Mr.right85]

Electrum wallet is one of the most secured wallet there is in the cryptospace. The security though is as much as you give it. Like, you've got users advice that you use it on an air gapped device. That's a means for sure but still, another means in which you can ensure security is by you @OP ensuring that your seed phrase is kept private and stored away in a secured location or format for which only you can decode.

Electrum has an easy to set up and use interface and with very little knowledge, you can experiment and use it. Still, it's best you seek forum user's opinion when confused. With Electrum, you can adjust and bump transaction fees if need be.

Electrum isn't a bad choice for a wallet.

[yudi09]

I just started buying BTC, someone recommended me to use Bitcoin Electrum to store BTC. What is it and how do I use it? Thanks!

Provides proven security.
Electrum has a wide selection of features ranging from 2FA, can be connected to hardware, control fees during transactions, wallets that have multi signatures which are suitable for people who want to hold several keys so as to make it easier to share roles.

Electrum's focus is speed and simplicity, with low resource usage. It uses remote servers that handle the most complicated parts of the Bitcoin system, and it allows you to recover your wallet from a secret phrase.

Not complicated in use.
For those of you who use Windows, Electrum is also available in a portable version.
Apart from windows, macOS and Linux, Electrum also supports Android (mobile).

https://electrum.org/#download

[tcash]

Please buy a Coldcard (to keep your private 🔑s safe off-line) in conjunction with ELECTRUM 👉 https://store.coinkite.com/store/coldcard

[phuhuyxyz]

Download it from https://electrum.org
To verify its signature: [GUIDE] How to Safely Download and Verify Electrum [Guide]

It will generate you seed phrase, have like 2 or 3 copies of it in different locations written on a paper. Or you can get steel sheets for it which are resistant to water and fire.

Protect your private keys just as your seed phrase.

Only what you should give to people is your bitcoin address.

For high amount of bitcoin use airgapped/cold storage wallet or get yourself hardware wallet.

Read these:
https://bitcoinelectrum.com/electrum-wallet-types/#:~:text=Standard%20wallet%3A%20A%20deterministic%20wallet,one%20private%20key%20to%20spend.
https://bitcoinelectrum.com/creating-an-electrum-wallet/
https://bitcoinelectrum.com/creating-a-multisig-wallet/#:~:text=A%20multisig%20wallet%20is%20one,the%20funds%20in%20the%20wallet.
https://electrum.readthedocs.io/en/latest/coldstorage.html

Thanks pro

[Pmalek]

We recommend using the desktop version of Electrum. It's easier for you to use. Choose the Multisig one.

The desktop client is definitely better than the mobile wallet because it doesn't lack in certain features like the mobile version does. But I wouldn't suggest to a beginner to use a multisig wallet. OP should learn and get some experience working with a standard wallet first. A multi-sig wallet would only make sense if he had multiple signing devices for each individual private key. Generating multiple seeds/private keys on the same device doesn't improve your security as everything is in one place. It's one point of failure. His transactions would also weigh more causing him to pay bigger fees when transacting. It would make sense if he used a multi-sig wallet together with a computer, smartphone, and hardware wallet, for example.