Electrum

As one of the first Bitcoin wallet clients ever released, Electrum has always been a pioneer in the market. This Bitcoin-only wallet established a reputation as a simplistic yet security-rich option for crypto users. Notably, Electrum utilizes different platforms for different cryptocurrencies. Its Bitcoin wallet is the first and most popular platform the company offers. Today, the Electrum Wallet is one of the most-used mobile Bitcoin wallets globally. This open-source project has well over 100,000 installs. The popularity of this…

Cryptocurrency exists as a natively digital entity that needs to be protected. We have crypto wallets and software programs to store your crypto assets' keys. Unfortunately, these software programs being dubbed "wallets," confuse new users. Crypto wallets don't store cryptocurrency the same way pocket wallets store currency. They only store your private and public keys that help with transactions. These keys are unique letters and numbers that allow you to send and receive cryptocurrency.  Whereas public keys are open to…

A Multisignature wallet (or Multisig wallet) is one where you need control over multiple private keys to spend from that wallet. That is, each address in the wallet has numerous private keys behind it. The idea with multi-sig wallets is that multiple people can cooperatively control the funds in the wallet. Alternatively, the wallet can require approval from various devices owned by the same person, i.e., a form of second-factor authentication. According to bitcoin.com, “Multi-signatures can also be used for redundancy to…