This is annoying, but it does make electrum run faster. Electrum Server Is NecessaryĮlectrum Wallet can not connect to your Bitcoin Core node directly. I have met many people who use Ledger Live or the Trezor suite, or Blue Wallet on their phone, and don’t realize they have limitless addresses, let alone something called “change” addresses.Įlectrum also shows you a list of all your UTXOs (but you have to select “show coins”) to enable that. This hides information from the user to keep things simple, but the user tends to remain ignorant, as the opportunity to learn is not presented. Many other software wallets don’t show you a list of addresses and only provide an address when requested to send coins to the wallet. Then you’ll get a list of your first 20 receiving addresses highlighted green (you have 4.6 billion of these but obviously not all shown), and a list of your first 10 receiving addresses highlighted yellow (again, you have 4.6 billion of this type). The Electrum Wallet has a very clean layout displaying your addresses, although you have to know to go to the menu and select “show addresses” to see it. You can learn more about that here if you feel like going on a very important tangent. Some people may be lost on what I mean by network settings or nodes. To overcome this, I will teach you, in the next installment, how to load up a disposable wallet first, optimise your network settings (connect to your own node, or one you trust), and only then load your real wallet into Electrum. just double click the icon) rather than the command line (with certain flags), you will almost certainly connect to a random Bitcoin node which will expose your wallet and all its potential 8.6 billion addresses to the owner of the random node - the owner could be a surveillance company, and there goes your privacy (they will get all your used and unused addresses, and your IP address). One problem with Electrum is that if you run the program in the most intuitive way (i.e. You can do that while waiting for my guide on how to use Electrum safely/privately. You can build your skills around this here. If you are in fact going to end up using this wallet for a significant sum, then you should learn to verify the software with gpg. if you have KYC free bitcoin, you need to practice good privacy to keep the coins unidentifiable). Downloading And Verifyingĭownloading and installing the program is straightforward for Windows and Mac, and a little tricky for Linux users, particularly those who are still learning to use Linux.įor those just testing the program out, simply downloading and using it without verifying the software is fine - I just wouldn’t do that for large amounts, or if privacy is a big concern (i.e. BlueWallet is a good alternative for a phone wallet. It can also be installed on a phone, but the mobile version's functionality is poor, and its connection to nodes has been erratic, so I don’t recommend that version. Operating SystemĮlectrum can be installed on a Windows PC, Mac computer, or a Linux PC, and importantly for some, on ARM chip computers (i.e. For the new Bitcoiner going at it alone, Electrum would be totally safe to use, provided they take their time and use it in a testing environment with only a small number of sats at first.
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