• Elҽct𝓻umWallet : Features / Security

    Features

    The Electrum wallet offers a range of advanced functionalities, including compatibility with hardware wallets for highly secure cold storage, the creation of multi-signature wallets, and the ability to set custom Bitcoin transaction fees.

    It also lets you use replace-by-fee (RBF) and batch RBF transactions. During times when the network is congested, replace-by-fee allows users to send a second Bitcoin transaction that’s similar to the original one but with higher fees to ensure that the original transaction is processed in a timely manner.

    Moreover, Electrum users can open Lightning Network channels to send and receive low-cost, near-instant Bitcoin payments over the Lightning Network.

    Security

    Electrum is an open-source wallet created in 2011, which means the security of its code has been thoroughly vetted. Numerous developers have contributed over 14,000 commits to the wallet’s open-source code.

    Moreover, Electrum is a non-custodial wallet so users have complete control over their private keys. 

    Users can also choose to set up two-factor authentication and Electrum requires you to set an encryption password for enhanced security.