![]() The project broadcasts announcements on its Twitter channel and dispenses help via r/Electrum subreddit. The documentation also deals with niche use cases such as routing transactions through a Tor network, or setting up a watchtower for your lightning wallet. Some advanced functions - such as configuring multisig wallets, signing transactions, and getting hardware wallets to work on Linux - get their own sections. The official documentation begins with an FAQ, which does a nice job of running through some of the wallet’s interesting features. The website points to two distinct resources one is the official documentation, while the other is an unofficial resource that hosts about two dozen easy-to-follow and well-illustrated guides. It was developed by the German computer scientist Thomas Vögtlin 1. In addition to storing BTC, modified versions of Electrum can also be used for altcoins.The app offers some features like two-factor authentication to protect your assets from hackers. In fact, we’d advise anyone interested in using Electrum, irrespective of their experience with cryptocurrencies, to spend some time going through its extensive documentation to familiarize themselves with its peculiarities. Electrum is a bitcoin wallet for Windows, Linux, MacOS and Android. ![]() However, not all of it is immediately apparent. You can then right-click on any of them to get the option to spend them.įor a thin wallet, Electrum packs quite a lot of functionality. You’ll have to enable the Coins tab from under the view menu to view all the individual UTXOs or unspent transaction outputs. However, you have to enable it first from the Tools menu.Įlectrum also has coin control features, but these too are hidden by default. One of Electrum's most interesting features is the ability to send payments to multiple addresses at the same time, which helps save on transaction fees. The tab also has a slider that you can use to specify the fee for the transaction. Again, you can optionally add a description for the transaction to help you identify it later. To send Bitcoin, switch to the Send tab and enter the address of the wallet you want to send to, either manually or by scanning its QR code. Electrum will also automatically convert the Bitcoin amount into fiat currency. Optionally you can add a description to the transaction and an expiry date for the request. Startup times are instant because it operates in conjunction with high-performance servers that handle the most complicated parts of the Bitcoin system. The Receive tab gives you the option to generate a new address, along with a QR code, either of which you can then pass on to the sender. According to the Electrum FAQ: How does Electrum work Electrum’s focus is speed, with low resource usage and simplifying Bitcoin. There are separate tabs for sending and receiving Bitcoin, and another to view past transactions. Once you’ve set up the wallet to your liking, the process of transferring funds isn’t all that complicated. Select your Ledger device and click next.(Image credit: Electrum Wallet) Transferring funds.At the keystore screen, select Use a hardware device and click Next.Leave the default wallet name and click Next.Launch Electrum from your applications folder.Version 3.3.5 for older Nano X firmware releases.Version 3.2.4 for older Ledger Nano S firmware release if you encounter a problem with signing a segwit transaction.Version 3.0.2 for older Ledger Nano S firmware releases.This part of the instructions is experimental and there is no guarantee that the connection between the older Ledger device and older Electrum will be stable.ĭepending on the Electrum version, steps may be slightly different but the general flow should be the same: In that case, you may try to connect to the older version of Electrum with your Ledger device with outdated firmware. In rare edge cases, you may have not the possibility to update the firmware and connect to the latest version of Electrum.
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