Step by Step Guide - How to get started with the Electrum bitcoin wallet

in #cryptocurrency7 years ago

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I would first like to say that Electrum wallet is a very good choice, especially for the beginners. It is a lightweight solution, i.e. wallet. There are a few simple steps you must follow.

1. Download the Wallet:

Visit the official Electrum download webpage - electrum.org - and go to the Download section. Depending on your device and the operating system, download the proper version.

2. Security:

As a beginner, you probably want to create the new wallet (not restore the old one). You will see your wallet generation seed, which is important to remember / write down in the exact order in case you need to recover your account. The seed can also be useful in case you travel abroad and download Electrum onto another device. After that, you will choose a password.

3. Getting started:

You wallet main tab has several options: History, Send, Receive, Contacts, Console. In the beginning, your History section will be empty. Your Bitcoin Balance will also be zero.

4. Sending or receiving BTC:

The Send section is rather simple. There are several fields to fill in, such as the receiver address and amount. The Receive section contains several different addresses which are basically your "bank accounts", i.e. your Electrum public keys. You will give one of these to the person who wants to make a payment to your wallet. You can use different labels for different addresses, i.e. you will give different addresses for different payment purposes. You can also use the QR code - simply send the QR code from the Receiving section to the person who wants to make the payment.

5. Using the Tools menu:

As a beginner, there are a few things you might want to change and you will want to use the Tools menu. For example, you can change the base unit, e.g. from mBTC to BTC. I recommend using BTC, because mBTC would be too small base unit. Go to Tools / Preferences / Appearance / Base unit. Simply choose the unit you prefer and click Close.
There are many other options you can explore, as the user interface is rather easy and user-friendly.

These were simple 5 steps on How to get started with the Electrum bitcoin wallet.

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Will surely try. Thanks for the post...... :)

Your welcome :)

Thank you for good explain

Definitely you are cryptocurrency reader and researcher. I will not miss your articles.

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