Privacy and AnonymityĮlectrum is a non-custodial Bitcoin wallet, which means that Electrum users have complete control over their funds as only they hold their private keys. Never share your wallet’s login details, recovery phrase, or private keys with anyone. While leading cryptocurrency wallets may provide a high level of security for safekeeping your crypto assets, improper security practices on behalf of the user can lead to a complete loss of funds. Users can also choose to set up two-factor authentication and Electrum requires you to set an encryption password for enhanced security.
Moreover, Electrum is a non-custodial wallet so users have complete control over their private keys. Numerous developers have contributed over 14,000 commits to the wallet’s open-source code.
#ELECTRUM WALLET FEES CODE#
Moreover, Electrum users can open Lightning Network channels to send and receive low-cost, near-instant Bitcoin payments over the Lightning Network.Įlectrum is an open-source wallet created in 2011, which means the security of its code has been thoroughly vetted. During times when the network is congested, replace-by-fee allows users to send a second Bitcoin transaction that’s similar to the original one but with higher fees to ensure that the original transaction is processed in a timely manner. It also lets you use replace-by-fee (RBF) and batch RBF transactions. The Electrum wallet offers a range of advanced functionalities, including compatibility with hardware wallets for highly secure cold storage, the creation of multi-signature wallets, and the ability to set custom Bitcoin transaction fees.
Documentation, Twitter, Reddit, BitcoinTalk
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