RoadMap Electrum Wallet - Check
About three months ago I wrote about smartcash's updated roadmap one of the items on the Roadmap was the Electrum Wallet and I had it on my list of items I was most excited about. Today, the wait is finally over.
ELECTRUM Wallet. This is a light desktop wallet and does not require you to have to have full blockchain downloaded. Why do I like this feature? I frequently introduce newbies to Smartcash using the paper or web wallet. The Electrum wallet would be a nice addition and easy progression to desktop wallets for newbies. There is also the added benefit of it using less resources on your computer.
Download the Relevant SmartCash Electrum version for your Operating System
Today it is with great satisfaction I present the #SmartCash Electrum Wallet. To use the wallet you would have to download it from the source provided by the development team. Electrum wallet uses the concept of seeds. These are a string of words which you should save offline. They serve as your backup to retrieve your wallet and funds. Please make a note of this seed. You may want to consider one of these as back up options:
- Cryptokeystack This is pretty much a stainless steel plate that allows you write down your seeds on a metal plate. Price starts at $45.00
- Cryptosteel Great product one I have used previously. I must say it took a while for me to open the pack and actually use it. Durable but not the easiest option I have seen. Price starts from $99.00
- Billfodl Looks very similar to the Cryptosteel claims to be better at less price. Prices start from $79.95
- ColdTi I recently stumbled on to this product and quite like the idea of backing up numbers that represnt the words of your seed. It adds an extra layer of security and also an extra point of human failure. Price starts from $29.99 and available on Amazon.
- BlockPlate Another interesting solution I found if you like puzzles and miss the days of punch cards!
- Tjernlund CC3P Strong HODL Cryptocurrency Indestructible Cold Storage I find this very interesting as not only is it a metal plate but it is split 3 ways so you can save your seeds in parts. Another level of security. Prices start from $49.99 on Amazon.
By now I am sure you have all got the message to back up your seed. Whatever you do, it is recommended that you do not save it to your computer or to a cloud drive. Keep it entirely offline.
Another great option we seem to have neglected is the option to just memorize our seed. Please do not choose this option if you cannot memorized the phone numbers of the people close to you. If you must use this option read, up on memory improvement techniques.
Setting up your SmartCash Electrum Wallet
Select Standard Wallet to create a new wallet. Use the Import SmartCash address or private keys option to bring in your existing #smartcash wallet into the electrum wallet. Click on Next to continue.
On this screen you will be presented with your Seeds, take time to back it up in your chosen method. Click on Next to continue.
You will be asked to type in your seed here. You will not be able to copy and paste in the box The system will present words for you to choose from as you start to type in your seed. Select each word in the right order. The Next button will only become available when you have entered your seed in the right order. Click on Next to proceed.
Enter a password to secure your wallet. You would need this to login to your wallet. Confirm your password and click on Next to continue.
Welcome to your SmartCash Electrum Wallet, Enjoy!
Take time to look at the main menu and familiarize yourself with all of your options?
I hope you find this useful! If you have any issues installing your wallet please visit our wallet support channel on discord. Please also feel free to share any hints or tips you have on the Electrum wallet in general!
Thanks for reading!
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