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Electrum
Open-source Bitcoin wallet launched in 2011 with hardware and multisig support
3.5/ 5
Our score
Good
Custody
Self-custodial
Chains
Bitcoin
Platforms
WindowsmacOSLinuxAndroid
Open source
Yes
Hardware wallet support
Yes
What is Electrum?
Electrum is a free, open-source Bitcoin wallet for Windows, macOS, Linux and Android. Created in November 2011, it uses simplified payment verification instead of downloading the full Bitcoin blockchain. It supports Bitcoin transactions, Lightning, hardware wallets, multisignature setups and watch-only wallets.
Who is behind it
Thomas Voegtlin created Electrum and remains a developer with GitHub write access. He is a German computer scientist who released the wallet in 2011. Electrum Technologies GmbH, founded by Voegtlin in 2013, develops, packages and distributes the software from Berlin, Germany. Other developers, including SomberNight, contribute to the code and sign releases.
How the wallet works
Electrum is self-custodial. Private keys are encrypted and stay on the user's device. A secret phrase can recover the wallet. Its SPV design connects to Electrum servers that index Bitcoin data, so the wallet does not need a full node. Bitcoin is the supported blockchain, with Lightning available for supported payment channels.
Users can create legacy or SegWit wallets and export private keys. Multisignature wallets divide spending authority between several wallets. Hardware-wallet integrations and offline signing support cold-storage setups, and the software also supports adjustable transaction fees and third-party plugins.
Fees and availability
The software is free. Bitcoin transactions still require a network fee that Electrum can estimate or that the user can select directly. Lightning transactions involve channel and routing considerations in addition to any applicable network costs. Electrum runs on Windows 10 version 1809 or newer, macOS 11 or newer, Linux and Android 8.0 or newer. An official iOS version is not listed.
Electrum is distributed without a sign-up account, and its software does not hold user funds. The site states that it is not a bank or financial service provider. It cannot freeze funds or reverse fraudulent transactions, and it provides public issue resolution through GitHub and forums rather than private support.
Track record and risks
Electrum has been in continuous development since 2011. Version 4.8.2 was released in September 2026 as a security update. Executables use reproducible builds and are signed by multiple developers, including ThomasV and SomberNight. The website publishes source code alongside release signatures.
The wallet's self-custody shifts responsibility to the user. Lost seed phrases cannot be replaced by Electrum, while phishing sites and malicious downloads can expose funds. The server model avoids downloading the full chain but still requires trust in the wallet's software and server connections.
Founders
Thomas VoegtlinFounder
German computer scientist who released Electrum in 2011.
Best for:Bitcoin self-custodyHardware-wallet usersMultisig Bitcoin setupsOffline signing workflows
Pros and cons
Pros
- Self-custodial Bitcoin wallet with encrypted keys
- Open-source MIT-licensed software
- Supports hardware wallets and multisig
- Available on Windows, macOS, Linux and Android
- Reproducible builds with signed releases
- Lightning and watch-only wallet support
Cons
- Supports Bitcoin only, not Ethereum or tokens
- No official iOS version is listed
- Seed-phrase loss can permanently remove access
- Phishing and malicious downloads can expose funds
- Bitcoin transactions still require network fees
- Public forums and GitHub handle issue resolution
Our review
3.5/5
Good
Electrum is a self-custodial Bitcoin wallet with hardware-wallet and multisignature support, but it does not support other chains.
Electrum is a self-custodial Bitcoin wallet. It has been developed since 2011 and is maintained by Electrum Technologies GmbH, founded by creator Thomas Voegtlin in 2013 for Windows, macOS, Linux and Android.
Keys stay on the device. The wallet supports hardware wallets, multisignature setups, offline signing and watch-only wallets, with releases that use reproducible builds and independent signatures from several developers. Electrum 4.8.2, released in September 2026, was described as a security update. Simplified payment verification checks transactions without downloading the full Bitcoin blockchain.
Seed-phrase recovery and phishing protection remain the user's job. Electrum states that transactions cannot be reversed or funds frozen, and its public support model uses GitHub and forums rather than private customer support.
Chain support is narrow. Bitcoin is the supported cryptocurrency, alongside Lightning Network support for Bitcoin payments, but there is no support for Ethereum or token portfolios. People holding several networks need another wallet.
Electrum has been developed since 2011 and publishes signed, reproducible releases, while self-custody leaves seed loss and phishing as direct risks.
Sources (1)
Specs
| KYC required ⓘ | No · unverified |
|---|---|
| Wallet type | Desktop, Mobile · unverified |
| Custody | Self-custodial |
| Chains | Bitcoin |
| Platforms | Windows, macOS, Linux, Android |
| Open source | Yes · unverified |
| Hardware wallet support | Yes · unverified |
| Staking | No · unverified |
| NFT support | No · unverified |
| Buy crypto in app | No · unverified |
| Security features | SPV transaction verification, Multisignature wallets, Two-factor authentication, Watch-only wallets, Cold storage, Offline signing, Reproducible builds, GPG-signed releases · unverified |
| Recovery without a seed phrase | No · unverified |
| Passkey login | No · unverified |
| Multisig | Yes · unverified |
| Built-in dApp browser | No · unverified |
| Perpetuals trading | No · unverified |
Not disclosed by the provider: In-app swaps, WalletConnect, Swap fee.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Simplified payment verification
Electrum connects to servers indexing Bitcoin data, so users do not download the full Bitcoin blockchain.
Lightning payments
The wallet supports Bitcoin Lightning transactions and channel-based payments.
Multisignature wallets
Spending authority can be divided between several wallets instead of relying on one signing key.
Hardware integration
Electrum supports hardware-wallet plugins and offline signing for cold-storage workflows.
Watch-only wallets
Users can monitor addresses without keeping private keys on the online device.
Open-source releases
The MIT-licensed code is open source, with reproducible executables and independently signed releases.
Adjustable fees
Users can select or adjust Bitcoin transaction fees rather than paying a wallet software fee.
Inside Electrum
Safe
Electrum encrypts private keys and stores them on the user's computer. It also works with hardware wallets and other security-focused configurations.
Forgiving
A secret phrase can restore the funds. Users are responsible for keeping that phrase safe.
Instant on
Electrum relies on servers that index the Bitcoin blockchain, so it can display wallet data without downloading the full chain.
No lock-in
Private keys can be exported for use with other Bitcoin clients.
No downtimes
Electrum connects to decentralized, redundant servers rather than depending on a single server for Bitcoin data.
Proof checking
The wallet checks transaction history through simplified payment verification, known as SPV.
Cold storage
Private keys can remain offline while a watch-only wallet stays online for monitoring.
Multisig
Spending permission can be divided among several wallets through multisignature Bitcoin setups.
Add-ons
Third-party plugins provide features such as multisig services and hardware-wallet integration.
Electrum screenshots
What users say about Electrum
Reported Electrum discussions include self-hosted connections, recovery difficulties, watch-only restrictions, missing funds, and compatibility issues across wallet versions and seed formats.
Top goods
In their own words
“No, setting it up was straightforward, just followed the instructions”
“I'm using Fulcrum together with latest Bitcoin Core. It's easy to install and runs well.”
“Electrum is solid, just a little less polished than Sparrow. Download only from electrum.org, verify the installer, and guard the seed phrase like cash”
“Accidentally created a Watch-only wallet on Electrum when importing bitcoin from a paper wallet. Now I can't send it to my Kraken account? So I am trying to send a large amount of BTC from a paper wallet, and unfortunately seemed to have chosen the wrong type of wallet on Electrum.”
“I have been using the same version of electrum 3.0.6 for years, as in, it has stayed in stasis. But it no longer works and I cant access anything. I downloaded 4.7.1 recently and opened the same wallet and everything was verified, but i still cant send anything to coinbase.”
“Electrum took my bitcoin to somewhere Something strange happened I transferred 2 bitcoin from my electrum wallet to an adress but there was a connection problem or something and it transferred 2 bitcoin to the adress I inserted but it didn't arrived electrum itself transferred al the remaining…”
Scam warning: A fake Electrum iPhone app asked for a seed phrase and drained funds.
Scam warning: Scammers posing as recovery helpers and support contacts target Electrum users through Telegram and private messages.
Based on 200 Reddit posts and comments from the last 12 months, checked Oct 18, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Electrum? Share your experience below.
FAQ
Who founded Electrum?
Electrum was founded by Thomas Voegtlin, who released it in November 2011. Electrum Technologies GmbH was founded by Voegtlin in 2013 and develops and distributes the software.
How much does Electrum cost?
Electrum wallet software is free. Bitcoin transactions require a network fee selected or estimated by the user.
Does Electrum require KYC?
Electrum does not require KYC for its self-custodial wallet. The software does not store user account data, and private keys remain on the user's device.
Is Electrum safe to use?
Electrum is open source and uses reproducible builds signed by several developers, while supporting hardware wallets, multisig and offline signing. Its latest listed release, 4.8.2, was a security update released in September 2026.
What coins and networks does Electrum support?
Electrum supports Bitcoin and the Lightning Network. It does not support Ethereum, ERC-20 tokens or other listed chains.
Latest from Electrum on X
New release: Electrum 4.8.3. This release fixes a critical security issue, so we urge all users to upgrade. A description of the vulnerability will be published later today. (note: Windows Defender may show a warning about ZXing.dll, ignore that, it is a false positive)
Not your keys, not your coins.
Not your lightning channels, not your coins.
Not your federated sidechain, not your coins.
Verify the software you use.
Use software that verifies instead of trusting.
Not your lightning channels, not your coins.
Not your federated sidechain, not your coins.
Verify the software you use.
Use software that verifies instead of trusting.
New release: Electrum 4.8.2. This is another security update, so please upgrade. Thanks to all contributors and researchers who reported issues to us.
https://t.co/Y2DXoUyOgk
https://t.co/Y2DXoUyOgk
Not your federation, not your coins.
This post is from 6 month ago. It became real today.
https://t.co/AdskDXCOvE
This post is from 6 month ago. It became real today.
https://t.co/AdskDXCOvE
Recent public posts from @ElectrumWallet, shown as published. Not reviewed or endorsed by CryptoReview.
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