![]() Though you have finished setting up, it is advisable to tweak a few settings.įor instance, by default, the wallet shows amounts in mBTC, which can be confusing, especially to a beginner. Once you have completed the process, the main Electrum window will open. That is how to open a wallet on Electrum. It is best to select “Auto connect” for the first-time set up Step 5:Re-enter the seed phrase to confirm that you got it correctly Step 6:Set a password for your wallet, confirm it and then click “Next” Step 7: Select the server you want to connect to. Step 4: You will then get a seed phrase write it down and keep it securely Step 3: Open electrum and select “Create a new wallet” and then choose “Standard Wallet” and click “Next” Step 2: Once the download completes, open the file and follow the instructions to install it Here is how to set it up on a Windows PC: Step 1:Go to and download the latest version of the software, select “Download” and then click on “Windows Installer” (An mBTC is a Millibitcoin or one-thousands of a Bitcoin) How to open your Wallet accountīefore we get started, the first thing is figuring out how to open Electrum Wallet. What cryptocurrencies does the wallet support? Major Bitcoin hardware wallets (Ledger, Keepkey and TREZOR).Electrum Wallet CompatibilityĮlectrum wallet is compatible with the following operating systems: Since its creation, a number of developers have made contributions to its source code. The wallet was created in 2011 by German computer scientist Thomas Voegtlin. It is a desktop and mobile Bitcoin wallet that works on various operating systems. If you check out our eToro review you’ll see why this is the wallet we recommend. The eToro wallet is CySec regulated, it offers great features, a good variety of cryptocurrencies and it is very simple to use. Using the Electrum Wallet to store your cryptocurrencies definitely has its advantages, but we think that the disadvantages outweigh the positives, which is why we do not recommend it.
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