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Electrum: Best for Bitcoin only investors

Emily
Emily
October 31, 2021
1 min

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Why Electrum: We feature Electrum here because it is one of the few wallets that is committed to supporting only Bitcoin and excelling at it.

Electrum Wallet Overview

Electrum is a Bitcoin-only wallet. It also is one of the oldest and most reputable Bitcoin wallets around. It was created in 2011 and has had a near-seamless history, which helped it become a top choice wallet for experienced Bitcoin traders and investors. One of Mycelium wallet’s greatest selling points is customizability.

It, for instance, lets you choose between creating a Legacy Bitcoin wallet and the SegWit wallet. You also have the option of choosing between the standard two-factor authentication and multi-signature wallet. It even lets you extend the recovery seed with custom phrases.

Pros

  • Lets you customize the Bitcoin transaction fees.
  • Electrum presents users with more security features than most other online wallets.
  • It lets you customize the recovery seed phrase.

Cons

  • It is not suitable for beginner Bitcoin traders.
  • It is not suitable for multi-currency traders.
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Emily

Emily

Senior Researcher

Emily bought her first Bitcoin in 2011 and hasn't looked back yet. Emily leads the Evening Star crypto research team and has a wealth of knowledge about Bitcoin and the up-and-coming altcoins dominating the market.
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