About Electrum Bitcoin Wallet
Electrum is a self-custodial Bitcoin wallet with support for the Lightning Network. It lets users manage Bitcoin while keeping control of their private keys, which the app description says are encrypted and remain on the device. A secret recovery phrase can restore the wallet, and private keys can be exported for use with other compatible clients. Users can also keep keys offline in cold storage and use a watching-only wallet when they want to monitor activity without bringing the keys online. Electrum connects to servers that index the Bitcoin blockchain to provide fast access to wallet information. It verifies transaction history using simplified payment verification (SPV), a method that checks transactions without downloading the entire blockchain. Its server network is described as decentralized and redundant. The app combines on-device key control, transaction verification, recovery, and optional Lightning support in one wallet.
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