The fees you need to pay are estimated according to the ones used in the last blocks. This software option shows you roughly after how many blocks your transaction will go through. When you want to send coins using that wallet, use the slider for adjusting the fee. With Electrum, the software sets transaction fees automatically, but you can still change them depending on the urgency of your transactions or in other words, how fast you need them to go through. I would like to sum now everything I’m planning to show you with the following sections, so you can have an exact idea how am I going to proceed: It might not be the most user-friendly on the market but once you get used to it, you’ll forget the struggles in the beginning. If I have to be honest, when I initially installed Electrum, it was a bit hard for me to work with the interface. This one verifies that your transactions are added in the blockchain. Here I observe the SPV (Simple payment verification) confirmation. Its HD characteristic allows people to easy backup and restore their wallet, thanks to the generating seed.Īs a light node, Electrum is requesting information from full nodes. It’s considered an anonymous wallet with privacy features, which makes it a tasty bite for users. It’s one of the most preferred platforms to send and receive BTCs, because of the fast and easy setup process. Let me start with the basics – Electrum is a single coin wallet, supporting only Bitcoin.
At the end of the article, you’re going to find a full Electrum guide to lead you step by step through the installation of the wallet and how to use it. It is considered one of the oldest and most secure wallets when it comes to storing Bitcoin. This Electrum review is going to show you all the security and anonymity features that benefit the users of this wallet.
William Carter Electrum Wallet Review: Features and How-to-Use Guide
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