Electrum is a lightweight digital Bitcoin wallet for Windows, Mac, Android, and Linux. It is Crypto Connection’s preferred wallet next to the Ledger Nano S. It is estimated that around 10% of total bitcoin transactions are made using Electrum. Here are a few important features:
Electrum utilizes external severs that are constantly syncing with the network to pull blockchain data from. This allows the wallet to only take up a few megabytes of data rather than dozens of gigabytes! Additionally, this means that you don’t have to spend numerous days syncing your wallet before it can be used.
Electrum supports 2-Factor Authentication and multisignature wallets. These features both ensure that your coins are out of the reach of a hacker. The wallet is open source and its source code is available on GitHub.
Electrum can be used to create secure offline cold storage. This is done when a computer or image that doesn’t have access to the internet is used to generate the master public and private keys. The public key is then scanned into an online computer in order to be used for sending and receiving payments, while the offline computer securely signs transactions.
Integration with Hardware Wallets
Electrum has integration with all major hardware wallets, including the Ledger Nano S.
Tor Support: Electrum is one of the few Bitcoin wallets to support Tor allowing you to connect to the external bitcoin servers without giving up your IP address.
TAILS Integration: TAILS is a Linux Operating system that provides users with a secure and private experience by automatically routing all internet traffic through Tor. TAILS comes with Electrum pre-installed.