how to send and receive a transaction with Electrum. That way, once you finish reading this Electrum wallet review, you can get started using one of the simplest Bitcoin wallets around right away.
The first thing you’ll likely want to do with your new Electrum wallet is to receive some Bitcoin. After all, you can’t send any Bitcoin from it until you have some to send!
Receiving Bitcoin with Electrum is very simple. I’ve outlined the steps below:
1. Click the “Receive” tab on the main Electrum window.
2. Next to the “Receiving Address” label, you will see a string of characters (under the red box above). Click the “Copy Symbol” (two pieces of paper on a blue background). This will copy the public (receiving) key to your clipboard.
3. Paste the public key to where you are sending the Bitcoin. If you’re sending it from an exchange, paste the public key into the send address field under the withdrawal options on the exchange. Once you have clicked "Send", it may take a while to receive into your Electrum wallet.
4. If you’re sending Bitcoin from a mobile device, you can use the QR code instead. This is under the large purple box above.
That’s all there is to it! You should now have some Bitcoin in your Electrum wallet to spend!
Now that you have some Bitcoin, you’re going to want to know how to spend it too. That is also very easy to do - it's the next thing I'll show you in this Electrum wallet review.
1. Click the “Send” tab at the top of the main Electrum wallet screen.
2. Copy the address you want to send Bitcoins to. This might be to an online store, a friend, or an exchange.
3. Paste the address into the box that says “Pay To”. Always double-check the address to make sure it is correct. You can do this by checking the first and last 3 digits.
4. Enter the amount of Bitcoin you want to send in the box labeled “Amount”.
5. Adjust the fee using the slider. The smaller the fee, the longer your transaction will take. If the transaction is urgent, you can slide the slider over to the far right. This will cost more but will speed up the transaction by a lot.
6. Double-check all the information is correct. Then, once you’re happy, hit "Send".
That’s it, you’ve made your first transaction using the Electrum wallet. It wasn’t hard at all, was it?