Review on Electrum Wallet by José A Rodríguez
Electrum: A Wallet Released to Store Bitcoin Tokens Only
There exist multiple wallets in the market that have been created to store just a token. This is frequently done as part of the uniqueness of transactions and to guarantee more security against volatility.
Electrum became a reliable wallet service for the Bitcoin tokens. It is perhaps very limited, but it is an essential product to store the most useful and valuable coin in the crypto market. In my experience with this wallet, I think the company should innovate in their releases as well as in the whole official web page.
Moreover, the wallet is still presenting some troubles related to the common updates it has in its version. Sometimes phishing issues might be encountered. The company itself is aware of that but there are not available solutions yet, so users need to upgrade.
On the other hand, the wallet is an excellent link to store the Bitcoin assets. It is free to download and permits a reliable ecosystem. It has an option to recover funds in case of losses. However, I consider this is not the best option for storing tokens even when a multisig option is available. The wallet was released as a protocol for Bitcoin, but it does not offer many benefits. There are no exchange or listing options. The process, although easy-to-use, is outdated. For now, a wide set of options have been taken into account to possibly improve the services of the Electrum wallet.
Pros
- Excellent and supportive of the Bitcoin token (BTC). It has long limits to the amount of BTC storage is permitted.
- It is easy-to-use and presents an informative guide to take the first steps.
Cons
- Common complaints about the current updates in the wallet versions. If the product is used in an old version, some issues can be encountered.
- The wallet and the official platform is outdated. The general design is not innovative for a Bitcoin supportive wallet.
