Frequently asked questions

Question 1

What is Electrum Wallet?

Accepted Answer

Electrum Wallet is a lightweight software wallet / hot wallet designed for managing Bitcoin and can be accessed through desktop and mobile, offering a minimalist interface with advanced functionality for both beginners and experienced users. Key features include multi-signature support, hardware wallet integration, and compatibility with major Bitcoin improvement proposals (BIPs).

Question 2

Is Electrum Wallet safe & legit?

Accepted Answer

Electrum Wallet is a non-custodial and open-source wallet. Electrum Wallet has maintained a strong security record since its launch, with no major exploits or confirmed hacks. Security measures include encrypted storage of private keys, password protection, and seed phrase recovery options.

Question 3

Who created Electrum Wallet?

Accepted Answer

Electrum Wallet was created by Electrum Technologies GmbH, a company founded by Thomas Voegtlin.

Question 4

Where is Electrum Wallet's company based?

Accepted Answer

The headquarters of Electrum Technologies GmbH is located in Berlin, Germany.

Question 5

How does Electrum Wallet work?

Accepted Answer

Electrum Wallet is a lightweight Bitcoin wallet using a client-server model that connects to remote Bitcoin nodes for blockchain data. During setup, Electrum Wallet generates a unique seed phrase for private key creation and wallet recovery. Electrum Wallet supports Electrum Server for advanced users who prefer running their own backend. Electrum Wallet integrates with popular hardware wallets and is compatible with Windows, macOS, Linux, and Android platforms.

Question 6

When was Electrum Wallet launched?

Accepted Answer

Electrum Wallet launched November 05, 2011.

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