Review on Electrum Wallet by Tosin Temitope
ELECTRUM WALLET, SECURE WALLET SINCE 2011!
This wallet maintain it integrity ever since it was establish in 2011. Though the wallet supports ones cryptocurrency, Bitcoin. The wallet offers lower Bitcoin transaction fee if compared to other wallet.
Setting up account on the wallet is very simple.
It ensure high security. The wallet put some security measure on the hand of the user. You need to put your seed phrase offline and in a save place to continue have access to your account even when you lost your device.
It offers the users options to choose transaction fee they want though the lesser the fee the longer will be for the transaction to be confirmed.
In my opinion the wallet is good, but the team behind the wallet can still consider putting certain features in the wallet to make it more appealing. if the more currency can be added, they should also work on allowing the wallet to supports fiat currency and looking for the way to simplify the wallet to help Bitcoin newbies. I had no issue with the wallet since i have been using it.
Pros
- It allows you to use device of your choice because it available on mobile device and desktop
- It has low transaction fee
- The transaction is very fast
- It is a secure wallet since 2011 till date
- It has many user, which mean many users satisfy with the services of the wallet
- It is very easy to set up
- The wallet supports hardware
Cons
- It support only one cryptocurrency, Bitcoin
- it does not supports buying and selling cryptocurrency on the wallet
- It does not have two factor authentication
- The wallet is not regulated
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Comments (1)
October 01, 2020
This days there are many crypto wallet. In my opinion it some well known wallet are not regulated and there are doing fine. Each wallet has it own uniqueness. One of the advantage of the wallet is that bitcoin transaction fee is very low compare to some wallet.
