#ELECTRUM WALLET FEES HOW TO#

When a transaction is triggered, it needs to be signed by the minimum number of owners (specified during setup) to approve the process. You can install the Electrum wallet on multiple devices (having different private keys, different or same owner). And also the minimum number of signatures required to approve a transaction. Then, when you set up the Electrum wallet for the Multi-signature wallet, you can define the number of persons (known as co-signer) it will have. Multi-signature Wallet- A multi-signature wallet requires approvals from multiple users to sign a transaction.

Therefore, this method is considered the most- secured method as the code is randomly generated. Users need to provide the security code generated in their Google authenticator application whenever he/she initiates any withdrawal/address whitelisting activity.

Wallet with two-factor authentication- Requires the users to set 2FA.

Standard Wallet- Uses single private keys for each address.

Then, we will now explain the different wallet types in detail so that you can decide what wallet type you need: Now, click on Install, and the application will get downloaded to your device. Search for the Electrum Application on the Google PlayStore.

#ELECTRUM WALLET FEES HOW TO#

1) How to Install the Electrum Wallet on Android

Therefore, users will get the option to download the application for different Operating systems. Now, you need to click on the Download button appearing at the top of the page. Therefore, users are advised to download version 3.3.4 or above for secure transactions. Then, on the main page, you may notice a warning message regarding the application versions that are prone to a phishing attack. How to Receive Funds on Electrum Walletįirst, to install the Electrum wallet, visit the official website.1) How to Install the Electrum Wallet on Android.

Electrum wallet fees