How to configure your Electrum wallet to save your Bitcoin

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Electrum-LTC is a simple, but powerful Litecoin wallet. Keep it on paper, or in your head It is not an official product of Electrum Technologies GmbH, which does not support it. It was fixed in Electrum-LTC 3. Please update your software if you are running an earlier version. Always verify the digital signatures of the files you download! Standalone Executable checksums ; signature electrum wallet tutorials Pooler Windows Installer checksums ; signature by Pooler Portable version checksums ; signature by Pooler.

Executable checksums ; signature by Pooler. Downloads Features Electrum wallet tutorials Questions? Windows Standalone Executable checksums ; signature by Pooler Windows Installer checksums ; signature by Pooler Portable version checksums electrum wallet tutorials signature electrum wallet tutorials Pooler.

Linux sudo apt-get electrum wallet tutorials python3-setuptools python3-pyqt5 python3-pip python3-dev libssl-dev sudo pip3 install scrypt sudo pip3 install https: OS X Executable checksums ; signature by Pooler. Android is not currently supported. If you are looking electrum wallet tutorials a mobile wallet, check out LoafWalletJaxx or Coinomi. What is the Seed? Electrum-LTC uses a bit random seed to generate your private keys. The seed can be represented as a word mnemonic code.

You do not need to perform regular backups, because your wallet can be recovered from the seed that you can memorize or write on paper. What is the gap limit? The gap limit is the maximum number of consecutive unused addresses in your deterministic sequence of addresses. Electrum-LTC uses a gap limit to stop looking for addresses. This is set to 5 by default, so the client generates new addresses until 5 unused addresses are found.

When you freeze an address, the funds in that address will not be used for sending litecoins. You cannot send litecoins if you don't have enough funds in non-frozen addresses. The best way to switch to Electrum is to send all the litecoins you have electrum wallet tutorials your old wallet to one of the addresses on your Electrum wallet.

This way you'll have all your litecoins secured with your seed. Older versions of Electrum could import private keys from another client, but then you had to electrum wallet tutorials those keys separately, as they could not be restored by the Electrum seed. Where is my wallet file located? What is a blockchain? A blockchain is a long record of every single transaction ever made. Each litecoin traded for a good or service is marked on the ledger with a transaction id and the origination and target wallet addresses.

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Here is all you need to know in order to be prepared for the snapshot and claim your BTCP. First, users must own either Bitcoin, ZClassic, or both, in order to be eligible to claim Bitcoin Private from this fork. Just like any other fork, you must first purchase your coins through an exchange. The private key is the only thing users need in order to claim their BTCP.

Going back to supported wallets; currently, there are many supported wallets. In terms of desktop wallets, it is recommended for users to use the ZClassic Electrum wallet or the newly released Full node desktop wallet.

Coinomi wallet mobile is also available for Android users at the moment. They have a dedicated support article guiding users on how to claim forked coins using the Coinomi wallet. Once users have installed and set up the corresponding wallets, the next step is to send your obtained coins from the exchange to the wallet.

Double check three criteria:. It is highly recommended to test the functionality of your wallet addresses to confirm they are working ok. Simply send a small amount to your wallet for the first time to test. If the transaction goes through, you should be confident to send the rest all at once. Once you input the destination address, send off the funds. The transaction will take a bit of time to propagate through the blockchain and users should see the transaction as verified.

If not, give it some time. If the transaction takes an abnormally large amount of time, users should seek to troubleshoot their wallet for any possible unintended issues.

Rest assured if users have sent the transaction to the correct destination with the correct wallet address, the transaction will be valid on the blockchain once the technical wallet issue is resolved. After the transaction has arrived in your wallet, users are already prepared for the fork. To export a private key file on the Full node ZCL wallet, right click on your own receiving address and it should allow you to copy the text. You may be prompted to unlock your wallet using your encryption password if it is set.

This will prompt you for your encryption password if you have set one. Rest assured, so long as your ZCL is on one of the aforementioned wallets, you will be safe. After the fork, users are recommended to follow best practices for staying secure after participating in a fork.

This post is not financial advice and reflects the personal views of the author. The author invests in digital assets and has positions in the aforementioned cryptocurrencies. Please conduct careful due diligence and consult with investment, legal, and tax professionals before investing in any digital asset. He also co-founded Fam, a Boston based venture-backed software startup. He is a mentor for the TechStars, a world-wide venture incubator, and is also on the board of the Baystate Financial Charitable Foundation.

He is very well versed in both the tech and cryptocurrency world. Skip to content Tokens Tags Bitcoin Bitcoin Private Cryptocurrency trading. Double check three criteria: To reiterate, the core steps to prepare for the snapshot will include the following: First Name Email address: