Tutorial – Setup an Electrum wallet on your laptop
Electrum has been securing Bitcoin payments since 2011. It’s one of the most popular and trusted wallets on the market, because it’s fast, secure, and easy to use. It includes beginner usability and expert functionality to deliver the optimal Bitcoin experience – regardless of previous experience with cryptocurrencies.
Because of these qualities, we recommend Electrum for laptop users. Below, you’ll find a step-by-step guide to help you setup the Electrum wallet on your laptop.
Step 1 – Locating and downloading Electrum
- Go to electrum.org and click on ‘Download’ in the navigation bar.
- Choose the installation suitable to your operating system.
Step 2 – Installing the Electrum wallet
- Open the downloaded .exe file and click yes
- Choose the programs location on your computer
- Once the installation is complete, click on ‘Close’.
Step 3 – Getting started with Electrum
- Double-click the Electrum-icon to launch the program
- Create a new wallet or restore an old one. Note: If you’re a first-time user, we recommend choosing ‘Standard wallet’.
- Write down the recovery phrase (generation seed) on a piece of paper and keep it in a safe place.
Step 4 – Keeping your recovery phrase safe
The recovery phrase is the easiest way to restore your wallet, should something happen to your device. It’s very important you write your recovery phrase down on a piece of paper and NOT on any device connected to the internet. If anyone gets a hold of your recovery phrase, they can access your wallet and steal your bitcoins.
Before reading any further, write down the recovery phrase and keep it in a safe place. If you plan on keeping significant amounts of money in your wallet, we recommend storing your paper in a vault etc.
Step 5 – Security and Connection
- Choose a strong password for your wallet and click ‘Next’.
- Choose how you want to connect to the server. We recommend you choose ‘Auto connect’.
- You’ve completed the setup, and your wallet is ready for use.
Step 6 – Configuring your wallet
We recommend you adjust a few settings for everything to run as smoothly as possible.
- Click on the ‘Tools’-menu and select ‘Preferences’
- Choose ‘Dynamic fees’ and set ‘Fee multiplier’ to 100%. Continue to click on the ‘Appearance’ tab.
- Choose your default language
- Select 8 zeros after the decimal point and set the base unit to BTC
- Click on ‘Close’ and restart your wallet to implement the adjustments.
Congratulations! You now have a bitcoin wallet
Step 7 – Locating your Bitcoin address
Remember, your Bitcoin address is safe to share with whomever you like.
- In Electrum, click on the ‘Receive’ tab.
- The string of letters and numbers in the ‘Receiving address’ area represents your Bitcoin address. Copy & Paste as you see fit.