People holding Bitcoin who want a feature rich wallet with lots of privacy settings will find Electrum useful. You should type this URL into your browser address bar manually so you know you are going to the real electrum.
Never follow hyperlinks on websites or emails. There are also fake Electrum sites as well. Since Electrum allows you to have several different wallets within the desktop app, you need to give each wallet a name.
In most cases you will choose standard here unless you know what the other options mean and specifically want that kind of wallet. Here you have a few options. If you are restoring an old wallet because you lost it or it was stolen or destroyed , then you can do so via either a recovery phrase 12 to 24 words usually - option 2 - or from a master private key - option 3.
You can also connect an existing hardware wallet, such a Ledger or Trezor, and use Electrum as your wallet managing software - option 4. However, a lot of exchanges do not yet support Segwit addresses yet, and so you would need a Legacy address to transfer BTC to those. Write down your seed words. You will need these in case your wallet is ever lost, destroyed, or stolen. If you do not have either the seed phrase of the master key, you will not be able to get your coins back.
Never write down these words on an internet connected device like your phone or laptop or any electronic device. Do not screenshot the recovery words either. If someone hack your phone or finds the recovery phrase, they can take all your coins on the wallet. These words should be kept on paper or preferably on one of Privacy Pro's Billfodl steel backup devices. Here you can encrypt the wallet so that if someone ever gets access to your desktop, they will need your password to access the wallet.
Electrum does not support the buying or selling of cryptocurrencies. Investments are subject to market risk, including the loss of principal.
Getting an Electrum address is simple. You can also select a specific amount of Bitcoin when you generate an address and add some meta-data like a description for the transaction as well as an expiry date for the transaction. You can also generate a QR code that includes all the expiry data and description information within it.
This can be shared with the person paying you so make it easy for them and prevent making mistakes. You can send any amount of Bitcoin to these addresses.
Just make sure that you have your seed phrase backed up in redundant locations before you use Electrum to store significant amounts of Bitcoin. See above for a list. Electrum also supports any valid Bitcoin transaction, regardless of where it originates from. For the most part, yes. Electrum has a proven security record and the wallet itself has never been hacked.
What has been hacked, however, is the update mechanism. Through the use of a sophisticated DoS attack, hackers were able to push a recommendation to Electrum users that they update their wallet.
Unfortunately users who clicked on the link to update ended up downloading a malicious version of Electrum that stole all of their funds. Millions were reportedly lost to this scam before Electrum was able to shut it down. Do make sure that the ATM actually sent the coins in the first place.
I copied a receive address from this tab, then I sent coin to it, but I never saved it. THEN after the coin should have arrived the next day the tab at the top with the receive address was backlit with red.
I did savce a copy of the address. How do I recover my bitcoin? I have bitcoins in my stored in coinbase. Should I do a standard wallet or something else?
And what else would I need to do? Hi, I have my electrum wallet for a while now but got a new laptop. What could be the cause of that? I am supposed to have the latest version. When I copy the receive address in Electrum, it preceeds the address with bitcoin: and follows it with a time limitation. When I tried to pate this into coinbase, It made me edit these characters out.
Is this normal? Is this optimal? I really want to make my seed better. Electrum lets me add words to the end but only on their Segwit technology, which I was warned NOT to use for compatibility reasons. You can always extend the seed by clicking on the options button and choosing to extend the seed. Why is it not safe? Adding random words and making the seed longer should only improve security.
Or not? I transferred bitcoin funds from a bitpay iphone wallet app which I have used lots with no problems to an electrum wallet on a computer using the QR code used to receive funds. I took a picture of the QR code using the iphone camera and bitpay mobile app and sent the funds and waited. I waited and waited… I checked again the next day to find that the mobile app wallet had sent the funds to the receive address and it was confirmed on the blockchain multiple times.
I checked my electrum wallet and I did not receive anything. I closed the Electrum app and restarted it and restarted my computer too and even my internet connection and even tried a different internet connection and waited a few more days and still nothing. Where could it be??? What did I do wrong? What should I investigate to explore possible explainations?
I would also like to clarify what could go wrong if I took a pic of the electrum QR code in request section to use that address to send bitcoin to. Flip open a dictionary and point at a word! Seems pretty random to me.
What there difference btw wallet and btc payment proccessor? For what purpuse does btc payment processor exist? Thank You! So Is it possibe to use electrum command line api for payment processing? Does such solution have some weakness? Does some paytomany addresses amount limit exist? How do i raise the reieve timer? I bought few btc and now timer is gone, the website havent sent it yet. In my previous electrum wallet……. How long does it take with a onchain request from sender has sent the btc to i recive them in my wallet?
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