Electrum Wallet Reviewed: Private and Reddit Reviews

Last updated on January 2nd, 2018 at 12:00 am

Perhaps one of the oldest players te the Bitcoin wallet market is Electrum. Created te November 2011 by Thomas Voegtlin it has since bot modified by various developers (the code is open source). Electrum is a client based wallet – meaning it’s software you download and run from your rekentuig. It’s only available for desktop computers at the uur and you can download it here.

Electrum prides itself on the following benefits:

Rapid – the client does not download the blockchain, it requests that information from a server. No delays, always up-to-date.

Safe – Your private keys are encrypted and never leave your rekentuig. Your wallet can be recovered from a secret phrase. You can also keep your private keys offline, and go online with a watching-only wallet.

Private – Your private keys are not collective with the server. You do not have to trust the server with your money. Your private keys are encrypted and never leave your laptop. The server does not store user accounts. You are not tied to a particular server, and the server does not need to know you.

Also another excellent benefit of Electrum is that it can be used with TREZOR or Ledger so you can send Bitcoins from your cold storage device spil well.

Many Redditors also consider Electrum to be the best wallet palms down for a desktop rekentuig. But today I want to take a look at Electrum from a newcomer’s point of view since it always seemed to mij that the wallet is too sophisticated. Keep ter mind that I have never used Electrum before this postbode and I will be learning how to use it spil I go.

Kleuter of a spooky homescreen

At very first glance when you land on Electrum’s homepage the webpagina looks pretty clean and understandable. However I’m still a bit deterred from screenshots like the one shown below spil a newcomer:

Just seems to be too technical (IMO). However this is a hefty leap from how the homepage used to look.

Once I click “download” I get the option to choose inbetween “easy installation” and other more advanced installs (e.g. python installations and developer installations). This is indeed good since I know exactly where to go.

The install process is pretty ordinary and straight forward. It also has the option to work with the hardware wallets I’ve stated above. Setting up the wallets take a little more than a minute.

Plain and to the point (perhaps too plain?)

The user interface of the actual wallet is pretty straight forward. You have different tabs at the top which permit you to choose inbetween “send”, “receive” and other wallet related options.

On the bottom you have the system settings such spil switching your password, network connectivity status and also a “lite” mode where you can only quick send Bitcoins to people.

All te all it’s pretty ordinary. My only concern is that for a newcomer this wallet may still be confusing spil it concentrates on functionality and not user practice. Meaning, if I know nothing about Bitcoin and download this wallet I will not know what any of the stuff here means.

Adding brief contraption tips to the wallet may help clear out the different fields or even a beginners tutorial to Bitcoin. Electrum does have very extensive documentation about the wallet and also an active BitcoinTalk category where you can get your questions answered. However, like so many other wallets out there they are focused only on functionality and not on what is known spil “customer onboarding”.

Customer onboarding is the process of enlargening the likelihood that fresh users become successful when adopting your product. There is a fine webstek that shows different examples of such processes ter well known companies. But I guess that’s the price you usually pay for creating a non profit chunk of software. People concentrate only on usability, and unluckily that is what hinders the wallet ter the end.

To sum things up – Electrum is a excellent prompt, secure and stable wallet, however it does not suit beginners. The wallet has seem to come a long way since it very first began out and it also gained massive trust te the Bitcoin reddit community. So if you know a little bit about Bitcoin this is certainly a good choice.

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