![]() If someone hacks your phone or finds the recovery phrase, they can take all your coins on the wallet. Do not screenshot the recovery words either. Never write down these words on an internet connected device like your phone or laptop (or any electronic device). You can also connect an existing hardware wallet, such a Ledger or Trezor, and use Electrum as your wallet managing software - option 4. 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. If you really want to create a new wallet, then you will choose ‘Create new seed’ - option 1. In most cases you will choose standard here (unless you know what the other options mean and specifically want that kind of wallet). Since Electrum allows you to have several different wallets within the desktop app, you need to give each wallet a name. If you are using Windows, Windows may try to block the download, so just hit ‘Details’ then ‘Run Anyway’.Īfter downloading the executable, open the. Select the version of Electrum made for your operating system: There are also fake Electrum sites as well. There are many third party websites that may be hosting a version of Electrum wallet that’s been designed to steal any Bitcoin that gets sent to it. Never follow hyperlinks on websites or emails. ![]() You should type this URL into your browser address bar manually so you know you are going to the real. Head to and select ‘Download’ in the top right menu bar. The first step is to download Electrum directly from the official website. People holding Bitcoin who want a feature rich wallet with lots of privacy settings will find Electrum useful. There are no animated guides or walkthroughs and the GUI has not changed much since the wallet was introduced nearly a decade ago. It’s meant for cryptocurrency traders and investors who already know how Bitcoin works. Who is Electrum Wallet Good For?Įlectrum isn’t designed for people just joining the blockchain space. With that in mind, it can be helpful to look at what type of cryptocurrency investor the Electrum wallet is designed for. You should always do research before downloading or installing any Bitcoin wallet. Avorak Trade Bot utilizes advanced algorithms to forecast price movements.Large amounts of bitcoins should not be stored on your Electrum wallet! If you want the most secure Bitcoin wallet then you will need to use a hardware wallet like the Ledger Nano X or TREZOR. Avorak AI deploys trade bots that make light work of market monitoring and voluminous data handling. Avorak AI, built for blockchain infrastructure, is a first-to-market strategy taking over crypto trading by storm. ![]() AI is trending in many industries and has made its way to cryptocurrency. With the waning dog-themed interest, a new trend is picking up. SHIB still makes the top 50, but its huge coin supply may not justify its price recovery. Its Shibarium network is under Beta testing, and if successful, it will add use cases to its portfolio. Shiba Inu came as a “Dogecoin killer” and introduced more use cases. Like Dogecoin, it relies on hype and the Elon Factor for survival. Shiba Inu is not dead and actively fights for survival with its predecessor, Dogecoin. Elon Musk’s recovery attempts by inexplicably replacing Twitter’s logo with a DOGE have fallen flat as the value rise on that day was down the following day. Dogecoin is still available for trading and is struggling to find a footing after the 2022 crash. Investors are forgiven for thinking it’s dead due to its dormant state and lack of intrinsic value.įurthermore, Dogecoin’s technology is a copy-paste of the existing blockchains without any improvement, making it just a passing cloud with no real value. ![]() Dogecoin reached its peak in 2021, and since then, it has never recovered. At its core was hype from the social media community and driven by equally crazy influencers, the likes of Elon Musk, who tweeted away and convinced investors. Dogecoin joked its way to stardom in 2013, riding on a popular dog-themed internet meme. ![]()
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