Review on Electrum Wallet by larei bello
Electrum: A bitcoin-only wallet.....
A wallet as old as Bitcoin, Electrum wallet was built to fit in the specifiaction of bitcoin. It was launched in 2011, Electrum wallet is a coin specific wallet that is, it supports just a coin which is bitcoin. I did not really use this wallet since it was not a wallet of my choice but the little time I sent, I was impressed. Electrum wallet is a very easy to use wallet. It has its mobile application which was compatible with Android. It is a security oriented wallet, it uses Password protection to prevent unauthorized access to the wallet. This wallet is an opensourced wallet, with that I can check for bugs in the wallet. The use of two factor authentic shows that Electrum is a wallet that is up to the task. The user interface is quite appealing and easily comprehensible, new users and experts will find this wallet very easy to use. Trading fees on this wallet can be afforded by anyone, its cheap. Expanding from only Bitcoin to other crypto coins lije Tron, Ethereum and even Litecoin might improve the number of users they have. I didnt really pick interest in the wallet because it srored only bitcoin. I couldn't access the help center it kept telling me "Network Unavailable", this should be looked
Pros
- Well it's very secure
- It is a wallet with alot and enough experiences
- It is a very secure for storing bitcoins
- It behaves like Hardware wallets by encrypting private keys and storing them offline
- It can be linked woth Hardware wallets like Trezor
Cons
- It is a Bitcoin-only wallet
- It is still possible to hack it since it is hot
- The security is not assured as it was a victim of Security threat
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Comments (1)
December 21, 2020
Having a wallet that supports only one cryptocurrency will make one to have another. The Electrum Wallet is one. The security system is moderate although it can still be worked on to avoid being hacked. Because if it eventually gets hacked, it would be a great one as Bitcoin has a very high market value
