Description
Electrum is one of the oldest and most trusted Bitcoin wallets, created by Thomas Voegtlin in November 2011. It is free, open-source software released under the MIT License and developed by Electrum Technologies GmbH.
Key Features
- Security First — Private keys are encrypted and never leave your device. Transactions are verified using Simplified Payment Verification (SPV), so you don't need to trust third parties.
- Cold Storage — Sign transactions from an offline computer and broadcast them from a machine that never holds your keys.
- Hardware Wallet Support — Works seamlessly with Ledger, Trezor, and Keepkey.
- Multisig — Split permission to spend your bitcoin between several wallets.
- Two-Factor Authentication — Adds an extra layer of protection against malware.
- Multi-Platform — Available on Windows, macOS, Linux, and Android, with both GUI and command-line interfaces.
- Instant On — Uses servers that index the Bitcoin blockchain — no need to download the full chain.
- Recoverable — Funds can be restored from a seed phrase.
- Plugin System — Supports third-party add-ons for extended functionality.
- No Lock-In — Export your private keys and use them in other Bitcoin clients.
Highlights
Pros
- Supports Ledger, Trezor, and Keepkey hardware wallets for offline key storage.
- Uses SPV (Simplified Payment Verification) so no full blockchain download is needed.
- Open-source MIT-licensed code that is publicly auditable by anyone.
- Offers multisignature wallets and two-factor authentication for enhanced security.
Cons
- Had a past JSON-RPC vulnerability that went unpatched from 2016 to 2018.
- Not beginner-friendly — 7-step setup with no tooltips or onboarding guidance.
- Desktop-only interface that prioritizes function over modern aesthetics.
- Supports Bitcoin only — no altcoins or Bitcoin fork coins.