Here, you’ll find great nuggets to help you work around with an electrum wallet.
First, electrum wallets are software wallets and also classified as hot wallets.
It’s best if you only store only minimal amounts of Bitcoin for your regular transactions with an electrum wallet.
Here we go, the do’s and the don’ts if you hold or run an electrum wallet:
First, keep your seed-phrase safe. It’s that string of words you typed in while installing your electrum wallet. In any case, you lose your hardware; the phrase will help you recover your Bitcoins.
Remember, the primary purpose of an electrum wallet is the storage for Bitcoin only. However, recent forks have allowed limited numbers of altcoins to reside in electrum wallets.
The altcoins that work with the electrum wallet include Bitcoin Cash and Electron Cash.
Second, electrum wallets are far better than online wallets. However, electrum wallets are also vulnerable to simple hacks like malware launching backdoors and keyloggers.
It’s also best if you can limit physical access to your PC or laptop, and as well install credible antivirus software.
Third, never run your electrum while your PC has active connections to Comodo cloud antivirus. You always get an error to isolate the electrical app.
Start by, disabling the Comodo cloud antivirus, and electrum wallet app will typically run without halting and displaying any error scripts.
Fourth, electrum conflicts with browsers like Google Chrome and Mozilla Firefox. How do you go about that? I spent a significant amount of time figuring it out until I landed on this link. Kudos to the reddit.com team at https://www.reddit.com/r/Electrum
Pro Tip: A disconnected Electrum intreface will show you a red button on the button right:
If you happen to get trouble launching your electrum wallet under Firefox or google chrome, compose your self. Next, download and install the onion router– Tor.
Here are quick steps to launch electrum under TOR browser:
- Download and install Tor.
- As of June 11 2020, a valid and original TOR browser installer was 16.9 MB in file size (If you download from third-party sources, should not be significantly less than that. Keep in mind that upgrades add on to the file size slightly)
- Launch your wallet app as usual and affect the following:
- Go to tools on the electrum toolbar
- Select Network and proceed to Proxy
- When Tor connects to the internet, the electrum interface will show an extra checkbox with the notification: “Use Tor proxy at port xxxx” Select the checkbox to connect your electrum via Tor.
If everything is fine, your electrum should connect almost instantly. The red button should turn Blue! Your electrum wallet is connected.
There you go. If this was helpful, leave a comment. If still facing challenges, leave a comment too.