Import your Bitcoin Wallet into Electrum
5 stars based on
69 reviews
Electrum is a light and simple wallet for Bitcoin. The first step in the world of bitcoins is to create a wallet or Bitcoin Wallet. The second one is an address similar to your IBAN bank account number. There are several types of Bitcoin wallets each with their own specifications and features. Creating a new wallet will only take a few seconds. Main window of Electrum. With a user interface simple and clear, Electrum is a very good option to start in the world of Bitcoin.
Electrum is a light client since the blockchain is not downloaded the database where all the transactions made in the Bitcoin network are stored. In order to operate it obtains the information through a special servers that are connected to the network of Bitcoin. These servers keep a copy of the blockchain and notify our Electrums every time a change occurs that affects any of our addresses.
A wallet is a grouping of addresses. These are where our bitcoins are stored. These wallets, in Electrum, are generated using a "bitcoin enhancement proposal" known as BIP BIP32 defines a system for generating the addresses of the purses from a seed or seed. A seed is a random sequence of 12 or 13 words, easy import wallet into electrum group point and protect, which allow you to completely restore a wallet and the directions it contains.
Of course, each wallet has its own seed. SEED A seed, composed of 12 or 13 random import wallet into electrum group, serves to create a wallet for the first time If someone succeeds in getting our seed, they will have no problem in regenerating the wallet and moving the funds it contains.
Therefore, a seed should import wallet into electrum group stored in a safe place, on paper or on import wallet into electrum group USB stick, outside the computer in which we are operating which could be damaged, could be stolen This password is used to encrypt the seed on the hard disk and we will be asked every time we go to make a shipment of bitcoins.
Like all passwords, it is interesting that it contains uppercase and lowercase letters, numbers and other characters such as! The first time we run Electrum we will not have any wallets available. The program will launch a wizard that will allow us to create a new wallet or import an existing one from a seed. It is solved by restarting the program. Electrum allows to operate with several wallets at the same time in a very simple way. Each time we open a wallet we will see a new window of the program, we should look at the title bar, which will always indicate the wallet with which you are working.
The "Receive" tab is cumbersome. From it we can create something like requests for payment. We must share the URL with the person who should make the payment. Import wallet into electrum group go to the "Addresses" tab. In this tab we have all the addresses that belong to our wallet. These addresses are grouped by the ones that are of type " Receiving " and by those that are of the type " Change ".
We will work with the former. An orderly way to receive our bitcoins is by using an address for each of our contacts or services, thus, it will be very easy to identify who has made a payment. In the "label" column of each address, by double clicking, we can establish a name or reference for each of them. Right-clicking on an address we get a drop-down menu, there we select "Copy address" so that it is copied to the clipboard.
We will only have to share this address with our contact or service to make the payment. We should not worry about our bitcoins being distributed among different directions, on the contrary, their management is totally transparent to us. This is the best method we can use, both anonymously and, above all, to have an orderly operation. Address Tab where we can see all our "Receiving" addresses. We just have to indicate the address where we want to send our bitcoins and the quantity.
We can write a description to remind us in the future of the reason for payment. It is recommended that you do not touch the "Commission" or, if it takes a little longer, set it to the minimum Within 25 blocks.
In the "Contacts" tab we can establish a list of people or services with their addresses. An example of the "History" tab with some transfers that are in several states.
Each line represents a transfer. With your date, description if we have indicated itthe amount moved and the final balance. The amount is shown in red if it is an expense and in black if it is an income. Remember that in the world of bitcoin to consider a transaction as irreversible it is necessary to wait a minimum of 6 confirmations.
It is advisable not to spend money that we do not yet have at all, that is, if we have a transfer of 1 BTC, it is better not to spend that BTC until that transfer, at least, has 6 confirmations. In case of carrying out a transaction of these characteristics it is possible that this one takes longer than usual to be confirmed or that, perhaps, never to do it. Electrum allows us to have the same wallet on more than one computer at a time.
Although you have to consider some things to avoid problems. If the wallet is used at once by several people, from several computers, and has intensive use, it can cause some synchronization problem.
And in some specific import wallet into electrum group, perhaps, an attempt of double expense? If we want, we can synchronize this data among several Electrums that are on several computers. Seed We have already said that we can restore a wallet from its seed. This will restore our "Receiving" and "Change" addresses, but not the addresses we have manually imported, the "Imported" addresses.
If we have manually imported addresses, use one of the following methods:. We must do this import wallet into electrum group each of the wallets we want to make a backup and every time we import a new address. We can access the directory with the Electrum user files details in point 8 and make a copy of the wallets directory.
In that directory we have a file for import wallet into electrum group of our wallets. They are text files that occupy very little space. If we have a problem performing a normal transaction and the program gives us a strange error ie, nothing is wrong address or other logical errors we can choose to restore the wallet again.
An example of such errors would be "Invalid Lines Achieved: In English, this error throws the text "Invalid lines found". Before restoring the wallet we must take into account if we have imported directions manually. If we do not have it, we can restore it from the seed. If you have imported addresses, you will need to either back up the wallet file or restore from the seed and re-import the addresses manually from the import wallet into electrum group key.
We talk about addresses and their corresponding private keys. Remember that these imported addresses are not recoverable via seed.
In case of problems, you have to import them again or recover them from a backup file. Example of paper wallet or "Paper Wallet". It is interesting to know where Electrum saves the user files, mainly wallets. Especially if we have to do some operation to fix some wallet that gives us problems. OSX Go to the Finder. Linux Go to the user directory. Once we are inside the Electrum directory we will see that it contains a directory called "wallets".
That's where our wallets are stored. Each wallet will have its file and it will be called with the same name that appears in the Electrum itself. Mention, as a curiosity and to avoid confusion, that there are versions of Electrum modified to work with other import wallet into electrum group. It is not that Electrum works with more than one criptocurrency at a time, but there import wallet into electrum group different Electrums, each adapted to operate import wallet into electrum group a single coin.
Elecco Litecoin and Faircoin Electrum. Electrum is a light and simple wallet for Bitcoin The first step in the world of bitcoins is to create a wallet or Bitcoin Wallet.
Introduction With a user interface simple and clear, Electrum is a very good option to start in the world of Bitcoin. Purses and Seeds A wallet is a grouping of addresses. Security Each wallet has a seed and can and should have a password. They are two different things. Creating and restoring wallets The first time we run Electrum we will not have any wallets available. Each line represents an assistant window: Basic use Electrum allows to operate with several wallets at the same time in a very simple way.
We recommend using another method. The "Submit" import wallet into electrum group In the "Contacts" tab we can establish a list of people or services with their addresses. An example of the "History" tab with some transfers that are in several states Each line represents a transfer.
The icon on the left has several meanings: A tip or seen in green means that the transfer was completed successfully you have 6 import wallet into electrum group more confirmations A clock more or less in green indicates that the transfer still does not have the 6 confirmations Three gray nuts, with "Unconfirmed" or "Pending" date, means that the import wallet into electrum group does not yet have any confirmation An admiration symbol, a warning, indicates that the transfer has some problem still and thus, depending on the problem, can be completed.
At the date you can indicate more details. If you put "Unconfirmed parent" it means that we have made an exit transfer with a money that had not yet fully entered the previous transfer, at the beginning, it still did not have 6 or no confirmation Remember that in the world of bitcoin to consider a transaction as irreversible it is necessary to wait a minimum of 6 confirmations. Shared Wallets Electrum allows us to have the same wallet on more than one computer at a time.
