Bitcoin Future: make electrum wallet backup

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and Android system. Installing Electrum requires you to write down a 12-word seed to help you recover your wallet on multiple devices. If you forget your private key, this seed can also make Electrum look more human. In addition, Electrum has a "cold storage" mode where you don't have to pay Bitcoin to view your balance.

how do i set up my electrum wallet and connect it with coinbase?

Electrum is a popular software wallet that works by connecting to a dedicated server. These servers receive a hash of the Bitcoin address in the wallet and reply with transaction information. Electrum wallets are fast and have few resources, but by default, it connects to these servers and can easily monitor users. In addition to Electrum, some other software uses public Electrum servers. By 2019, it is a faster and better alternative to BIP37.

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Electrum wallets have been hacked in recent days and nearly 250 bitcoins have been stolen, according to blockchain security team Devi Security Labs. This attack, confirmed by Electrum, involves creating a fake version of the wallet to trick users into providing password information. Electrum responded on Twitter that "this is an ongoing phishing attack on Electrum users and advised users to download wallet apps from the official website." Mars Finance reminds users not to install electrum wallets from unknown sources.

how to use a electrum wallet?

It's important to transfer the BTC from your original Electrum wallet (to a new Electrum wallet, a new wallet generated by a new monemone, and back it up), which is important to prevent possible BTC loss.

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Electrum tweeted today about the incident, saying it was "a persistent phishing attack on Electrum users" and imploring users to check the effectiveness of the resources they log on to.