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You must keep the backup seed secure, as you would keep your bank login credentials. Although it has a simple interface, Electrum is one of the most secure wallets out there. So continue reading for step-by-step instructions and tips to install, secure and setup Electrum, or any other software wallet for that matter.

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Create new backup seed. Continue reading here to learn about paying a CoinGate invoice. Click here for our step-by-step guide on buying Bitcoin with credit/debit card without registration. Org, install, and run. .

How to Setup Electrum Bitcoin

If you have a Bitcoin wallet already, consider reading our guide to buying bitcoins with your credit or debit card, or read our instructions how to pay a CoinGate Bitcoin invoice. Unlike your permanent bank account number, you will be generated a new Bitcoin address each time you want to receive a transaction,  This, essentially, increases your anonymity and improves security, because it is much more difficult for someone to track your received transactions. Name, email address, phone number - optional. Installing and Securing Electrum, step. Next, you will be able to choose a password to encrypt your wallet.

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Main Electrum window, tools Preferences Appearance. There is a reason WP Standard is known for its unique collections. Write down your backup seed, step.

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Your local currency is for display purposes only and is calculated based on exchange rates that are updated daily. Upon receiving a payment, Electrum will display a notification. Althouh the risk of Bitcoin double-spends is extremely low, if you do not personally know the person sending you bitcoins, allow the Bitcoin network to confirm the transaction at least once (6 confirmations is often considered the most secure threshold).

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Re-enter backup seed, confirm seed. You will now undergo the wallet creation process. Encryption password, confirm encryption password, step. With the perfect selection of timeless and utilitarian classics, our customers know they are getting a quality item made from the best materials.