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Know Everything About The Electrum Wallet For Storing Bitcoins!

The importance of cryptocurrency wallets has increased a lot with the burgeoning popularity of digital money, such as bitcoins. Bitcoin is one of the most popular types of cryptocurrency, and these valuable currencies are stored in the different types of wallets that keep them safe from hackers and also allows the users to transfer them easily. There are umpteen types of wallets such as cloud token, but there is a unique and popular wallet known as the electrum bitcoin wallet, which is tailor-made for bitcoins and only supports bitcoins; which means you can only store bitcoins in this wallet and it supports no other type of cryptocurrency.

It is a wallet based on software, which is a clear indication that it offers a high level of security as compared to any other type of cryptocurrency wallet. You cannot say that it is the safest wallet, but surely it is one of the most efficient and popular cryptocurrency wallets.

Top-notch advantages of electrum wallet

Best for regular users

If you are one of those who make regale transactions using bitcoins, then electrum wallets are the best for you as it offers high security to your assets and transaction, and as it is made exclusively for bitcoin users and makes your transaction more secure and convenient. If you are a daily user of bitcoins and use it frequently in your transactions, then you use an electrum wallet for everyday transactions.

Instant access

Most of the wallets need specific platforms and software to work correctly and allows the user to use the cryptocurrency assets. It runs on an efficient platform known as the blockchain, which enhances its security and protects valuable information from hackers and other risks. It keeps the always ready and up to date and allows you to access it anywhere without any delay. You also need not download the whole blockchain as an electrum wallet connects to the server and automatically enables you to access it.

Private keys

The biggest concern related to cryptocurrency is its security, and electrum wallet makes it possible for you. Electrum wallet gives you private keys that allow you to access the information stored in it. No one can access it without the keys which, makes it more secure, and you must ensure that you don’t share the key with anyone to keep the data safe and secure.

Tips for setting up the Electrum wallet in your device

Most of the people face some hassles in setting up the Electrum wallet in their devices, but it is highly easy and simple. You can follow the following steps to set up the Electrum wallet in your device easily;

Download

  1. First and foremost, you need to download the Electrum wallet. You can do it easily by visiting the website electrum.org, and you will see an option to download the wallet on the top of the page. Click on the download button.
  2. Now to get all the necessary files on your computer, you need to click on the windows installer, it will allow you to get all the required files on your computer.
  3. Now go to downloads and click on the downloaded file to initiate the installation process.
  4. Once it is installed, open it, and you will see two options whether you want to create a new wallet or restore the old one. Choose any one of them, and that’s it.

Paola

Paola Garcia lives in Jakarta Indonesia. She is an associate professor in University of Indonesia and also managing Scoopinion at the same time. She is also fond of watching theatrical plays.

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