{"id":223995,"date":"2021-02-17T11:46:49","date_gmt":"2021-02-17T16:46:49","guid":{"rendered":"http:\/\/insidebitcoins.com\/?page_id=223995"},"modified":"2021-02-24T04:34:25","modified_gmt":"2021-02-24T09:34:25","slug":"electrum-wallet","status":"publish","type":"page","link":"https:\/\/insidebitcoins.com\/bitcoin-wallets\/electrum-wallet","title":{"rendered":"Electrum Wallet Review 2021: Fees, Pros, Cons and Features"},"content":{"rendered":"
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Electrum wallet is one of the oldest Bitcoin wallets<\/a> in the market, handling approximately 10% of all Bitcoin transactions. Our Electrum wallet review will take a closer look at its features and find out whether it is the safest option out there.<\/p>\n Using the Electrum Wallet to store your cryptocurrencies definitely has its advantages, but we think that the disadvantages outweigh the positives, which is why we do not recommend it.<\/strong> The eToro wallet is CySec regulated, it offers great features, a good variety of cryptocurrencies and it is very simple to use. If you check out our eToro review<\/a> you’ll see why this is the wallet we recommend.<\/p>\n<\/div><\/div>\n It is a desktop and mobile Bitcoin wallet that works on various operating systems. The wallet was created in 2011 by German computer scientist Thomas Voegtlin. Since its creation, a number of developers have made contributions to its source code.<\/p>\n Electrum wallet is compatible with the following operating systems:<\/p>\n Electrum wallet fees:<\/p>\n (An mBTC is a Millibitcoin or one-thousands of a Bitcoin)<\/p>\n Before we get started, the first thing is figuring out how to open Electrum Wallet. Here is how to set it up on a Windows PC:<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n That is how to open a wallet on Electrum. Once you have completed the process, the main Electrum window will open. Though you have finished setting up, it is advisable to tweak a few settings.<\/p>\n For instance, by default, the wallet shows amounts in mBTC, which can be confusing, especially to a beginner. Change it to BTC by going to Tools>Preferences>Appearance>Change Base Unit.<\/p>\n You will make other changes as you get better acquainted with the wallet. For now, let us figure out how to send and receive transactions on the wallet.<\/p>\n Before you can start sending transactions, you need to transfer coins to your wallet. Here is how to add currency to Electrum wallet:<\/p>\n <\/p>\nOn this Page:<\/h2>
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Is the Electrum Wallet Recommended?<\/h2>\n
What is the Electrum Wallet?<\/strong><\/h2>\n
Electrum Wallet Compatibility<\/strong><\/h2>\n
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What wallet type is Electrum?<\/strong><\/h2>\n
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What cryptocurrencies does the wallet support?<\/strong><\/h2>\n
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What fees does wallet have?<\/strong><\/h2>\n
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How to open your Wallet account<\/strong><\/h2>\n
Step 1:Go to electrum.org and download the latest version of the software, select \u201cDownload\u201d and then click on \u201cWindows Installer\u201d<\/h3>\n
Step 2:\u00a0Once the download completes, open the file and follow the instructions to install it<\/h3>\n
Step 3: Open electrum and select \u201cCreate a new wallet\u201d and then choose \u201cStandard Wallet\u201d and click \u201cNext\u201d<\/h3>\n
Step 4: You will then get a seed phrase; write it down and keep it securely<\/h3>\n
Step 5:Re-enter the seed phrase to confirm that you got it correctly<\/h3>\n
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Step 6:Set a password for your wallet, confirm it and then click \u201cNext\u201d<\/h3>\n
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Step 7: Select the server you want to connect to. It is best to select \u201cAuto connect\u201d for the first-time set up<\/h3>\n
How do I add cryptocurrencies to Wallet?<\/strong><\/h2>\n
Step 1: Find your Electrum wallet address. Go to the Receive tab and click on it to obtain your address<\/h3>\n
Step 2: Click on the address to copy it<\/h3>\n
Step 3: Paste it on an exchange or into the receiving address on another wallet to send yourself some crypto.<\/h3>\n