Table of Contents
A Bitcoin Wallet Review
With the value of Bitcoins soaring in the past couple of months, it has become more important than ever to keep your Bitcoins entirely safe. One of the best ways to keep them safe is to opt for an electronic wallet. This would ensure that they would largely remain safe from hacking as well. However, when you’re looking for a good electronic wallet, you would realize that there are quite a few options which are available. Instead of going for any electronic wallet which might not be safe, it is a better idea to go for the reputed ones like Electrum.
We would today share with you the detailed review of this electronic wallet to make it easier for you to understand why it is one of the best options to store your Bitcoins.
What is Electrum wallet?
Electrum is an electronic wallet which is pretty lightweight; and can be used through your computer as well as smartphones. Whether you’re just having a few Bitcoins which you want to store in it or whether you’re having hundreds of Bitcoins, it is good enough for both the users. The main advantage of Electrum is that you need not download the entire blockchain in order to run the wallet or in order to store the Bitcoins in the wallet. It provides you with a lightweight version which ensures that you are able to easily download it and install the Bitcoins. It is compatible with:
- Mac OS
- iOS operating system
As the wallet is supported in almost all the prominent operating systems, you can be sure that you would be able to use it from any device.
Features of Electrum wallet:
Now, we would look into the features of Electrum wallet in order to provide you with a better idea.
Electrum wallet has been around since 2011. It has a stellar reputation as a safe wallet for storing your Bitcoins. That is why, whenever you are looking for a wallet which is reliable as well as can keep your Bitcoins secure, this is the perfect option for you.
Easy to use:
Many of the people are not familiar with the technical details of the blockchain technology. Owing to this very reason, they are not able to look into any technical aspects of the Bitcoins wallet. On the other hand, when you’re using the Electrum wallet, you do not have to look into any of the technical details of the wallet. It is pretty easy to set up. Also, the setup time which is required is also on the lower side. You have to just follow a few instructions; which are stated on the official website of the Electrum wallet; and as soon as you are able to do that, you can set up the wallet quite easily.
Proper privacy safeguards:
You can anonymously store the Bitcoins as well. This ensures that you do not have to reveal your identity. One of the main reasons why investors all over the world are opting for Bitcoins is due to the privacy features. When you’re using the Electrum wallet, you can maintain these privacy features as well.
Can be integrated with hardware wallets:
If you’re storing a significant amount of Bitcoins, you would need a hardware wallet security as well. Electrum wallet can be easily integrated with multiple hardware wallets as well. This would ensure that you do not have to worry about storing the Bitcoins as well. Moreover, whenever you are integrating it with the hardware wallets; you can be sure that it becomes easier for you to store the Bitcoins offline as well. This would ensure that you are not prone to hacking; neither you would be suffering from any glitches in the wallet as well. Thus, if you need additional security you can go for the off-line Bitcoin storage with the help of Electrum by integrating it with the hardware wallet.
Electrum wallet is not synchronized with the centralized server. The entire wallet storage method is entirely decentralized. That is why you would not suffer from problems like downtime. You can easily use the wallet or the Bitcoins in the wallet at any point in time.
When you look at all of these features of the Electrum wallet; one thing which you would realize is that if you want to keep Bitcoins really safe; it is one of the best options for you.
So, the next time around you’re confused about storing your Bitcoins securely; you have to just opt for the Electrum wallet which would make it easier for you; to store the Bitcoins in a completely safe way.
If you liked this blog post, please follow us on Twitter @coins_iq and also make sure to subscribe to our e-newsletter to receive the best and latest information on bitcoin, cryptocurrency, crypto trading and bitcoin investment!