Apps:Electrum
Electrum is an open-source lightweight desktop wallet for Windows, Linux, MacOS and Android OS. Linux users have to install Python tools, but there is no need to install these on Windows and MacOS systems.
It is also possible to connect Electrum wallet to your own full node using Electrum Personal Server. For more information, see this GitHub page.
How to install Electrum with Trezor device on Linux[edit]
For Linux (based on Ubuntu/Debian), it is necessary to install the python-trezor tools first. You will need Python3 installed.
1. Run:
sudo apt-get install python3-dev python3-pip cython3 libusb-1.0-0-dev libudev-dev sudo pip3 install trezor[hidapi]
2. Now you can follow the installation guide for electrum on electrum.org.
See also this GitHub page for more information
Trezor user manual[edit]
1. To import your Trezor public account keys, connect your device, start Electrum and create a new wallet.
2. Choose Standard wallet.
3. Choose Use a hardware device.
4. Choose the type of addresses in your wallet account.
- legacy (p2pkh)
This account is the same as Legacy accounts in Trezor Wallet with addresses beginning with 1 which does not support SegWit.
- p2sh-segwit (p2wpkh-p2sh)
This account is the same as Standard accounts in Trezor Wallet with addresses beginning with 3 and SegWit support.
- native segwit (p2wpkh)
This account supports Bech32 standard and is not fully supported in Trezor Wallet yet, but it is supported by Trezor firmware.
5. After all your public keys are imported and the wallet transaction history is synced, you will be able to see the transactions history and all your account addresses.
Advanced features[edit]
Multisig[edit]
It is possible to use MultiSig in Electrum with Trezor device. For more information please see this blog.
Coin control[edit]
- Sending bitcoins
With Electrum wallet, it is possible to control which specific address to use if you want to send bitcoins.
- Change addresses
All change addresses that were generated and used by the account are visible.
- No limit for address creation
Electrum wallet doesn't have any specific limit for address creation under one account.
Recovering funds without Trezor device[edit]
In case your Trezor device gets lost or damaged, you can access your funds using your recovery seed and Electrum.
To recover your wallet in Electrum, follow these step:
- Open Electrum and go to File > New/Restore.
- Enter (any) name for your wallet.
- Select "Standard Wallet".
- Select "I already have a seed".
- Enter your recovery seed. Separate the individual words using spaces (e.g. tree, all, hazard).
- Click on Options and check "BIP39 Seed".
- Unless you use a passphrase, do not check "Extend this seed with custom words". Click on Next.
- If you used Trezor Wallet before, select p2sh-segwit (or legacy) account.
- Set up a password or leave the fields empty.
- Done.
- m/49'/0'/0' (first account)
- m/49'/0'/1' (second account)
- m/49'/0'/2' (third account)
Additional resources[edit]
- Electrum homepage https://electrum.org/
- Electrum GitHub https://github.com/spesmilo/electrum
Properties and Features[edit]
Wallet property | Description | |
---|---|---|
Platform | ✔ | Windows, Linux, OSX, Android |
Coin(s) | ✔ | Bitcoin |
Languages | ✔ | English |
Address Book | ✔ | Manage contact list of receiving and sending addresses |
Labelling | ✔ | Add comments and labels to accounts and transactions |
Trezor feature | Description | |
---|---|---|
Basic Setup | ✔ | Generate new wallet with recovery seed, set PIN and label device |
Safe Recovery | ✔ | Recover Trezor by safely entering your recovery seed (12, 18 or 24 words) |
Simple transactions | ✔ | Sign transaction with Trezor and confirm address and amount on display |
Multisig transactions | ✔ | Sign multisignature transaction with Trezor |
Hidden Wallets | ✔ | User can access hidden wallets each behind arbitrary passphrase |
Multiple Accounts | ✔ | Capable of creating and working with multiple accounts |
Smart PIN Matrix | ✔ | Keylogger protection, displaying PIN matrix on Trezor's display |
Watch-only mode | ✔ | Remembering account, generating new receiving address with Trezor disconnected |
Show on Trezor | ✔ | Phishing protection, validation receiving address on Trezor |
Change PIN | ✔ | User can change Trezor's PIN |
Change Name | ✔ | User can change Trezor's name |
Custom Homescreen | ✔ | User can upload personalized default screen |
Update Firmware | Notify user and update firmware when a new version is available | |
Wipe device | ✔ | Erase private keys from Trezor |
Sign Message | ✔ | Securely sign short text |
Verify Message | ✔ | Securely verify short text |
Fast Recovery | ✔ | Recover by directly loading seed into Trezor, fast but less safe way to recover wallet |
Wallet Encryption | Wallet can be decrypted and opened using Trezor only | |
Sign in with Trezor | Trezor is used for online authentication without using username and password |