RoadMap Electrum Wallet - Check
About three months ago I wrote about smartcash's updated roadmap one of the items on the Roadmap was the Electrum Wallet and I had it on my list of items I was most excited about. Today, the wait is finally over.
ELECTRUM Wallet. This is a light desktop wallet and does not require you to have to have full blockchain downloaded. Why do I like this feature? I frequently introduce newbies to Smartcash using the paper or web wallet. The Electrum wallet would be a nice addition and easy progression to desktop wallets for newbies. There is also the added benefit of it using less resources on your computer.
Download the Relevant SmartCash Electrum version for your Operating System
Today it is with great satisfaction I present the #SmartCash Electrum Wallet. To use the wallet you would have to download it from the source provided by the development team. Electrum wallet uses the concept of seeds. These are a string of words which you should save offline. They serve as your backup to retrieve your wallet and funds. Please make a note of this seed. You may want to consider one of these as back up options:
- Cryptokeystack This is pretty much a stainless steel plate that allows you write down your seeds on a metal plate. Price starts at $45.00
- Cryptosteel Great product one I have used previously. I must say it took a while for me to open the pack and actually use it. Durable but not the easiest option I have seen. Price starts from $99.00
- Billfodl Looks very similar to the Cryptosteel claims to be better at less price. Prices start from $79.95
- ColdTi I recently stumbled on to this product and quite like the idea of backing up numbers that represnt the words of your seed. It adds an extra layer of security and also an extra point of human failure. Price starts from $29.99 and available on Amazon.
- BlockPlate Another interesting solution I found if you like puzzles and miss the days of punch cards!
- Tjernlund CC3P Strong HODL Cryptocurrency Indestructible Cold Storage I find this very interesting as not only is it a metal plate but it is split 3 ways so you can save your seeds in parts. Another level of security. Prices start from $49.99 on Amazon.
By now I am sure you have all got the message to back up your seed. Whatever you do, it is recommended that you do not save it to your computer or to a cloud drive. Keep it entirely offline.
Another great option we seem to have neglected is the option to just memorize our seed. Please do not choose this option if you cannot memorized the phone numbers of the people close to you. If you must use this option read, up on memory improvement techniques.
Setting up your SmartCash Electrum Wallet
Select Standard Wallet to create a new wallet. Use the Import SmartCash address or private keys option to bring in your existing #smartcash wallet into the electrum wallet. Click on Next to continue.
On this screen you will be presented with your Seeds, take time to back it up in your chosen method. Click on Next to continue.
You will be asked to type in your seed here. You will not be able to copy and paste in the box The system will present words for you to choose from as you start to type in your seed. Select each word in the right order. The Next button will only become available when you have entered your seed in the right order. Click on Next to proceed.
Enter a password to secure your wallet. You would need this to login to your wallet. Confirm your password and click on Next to continue.
Welcome to your SmartCash Electrum Wallet, Enjoy!
Take time to look at the main menu and familiarize yourself with all of your options?
I hope you find this useful! If you have any issues installing your wallet please visit our wallet support channel on discord. Please also feel free to share any hints or tips you have on the Electrum wallet in general!
Thanks for reading!
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Please Read My Other Articles
When You are Called To The Test
What is SmartCash
What Is In A Name
SmartCash Sister Coin -BitcoinConfidential
Voting on SmartHive Proposals
Starting From The Begin - SmartCash
Spring Resolution - Keep Walking
SmartRewards and NodeRewards = Another Smartnode
Smartcash is my Prefered Upvote on Steemit
BarterDex Trading With SmartCash
New Hardware Wallets -Coming Soon
My SmartNodes Update - 60 Days
Kaspersky Lab Hardware Wallet - First Impressions
400 Followers Celebration Contest - SmartCash Giveaway
Reaching My Goals On Steemit - Weekly 250
When a Dip is not really a Dip
EOS Registration Deadline Approaches -Tips for Trezor Users
Anarchaforko First Time Experience - Notes from Acapulco
Smartcash RoadMap Updated
SmartCash Coming To A Shop Near You
SmartNodes - Stay the Course
It's Raining Smartcash
When the going Gets Tough
How to Invest in SmartCash part 1 -for Non Geeks
How to Invest in SmartCash part 2 - for Non Geeks
Introduce your Teens to smartCash
SmartCash Coin of the Future
This is a welcome development that will be well applauded by the smartcash community here on steemit and in other niches.
I particularly find this interesting because it will blend so well with the barterDEX platform. I am surely going to hook up my own electrum wallet.
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Very true.
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Thanks @nitego. This is a very helpful and well-written piece: easy to understand and follow. I won't be surprised if it becomes the de facto manual for using the wallet. Brilliant.
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Very very helpful
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Welcome to Steemit @jimotron
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@nitego thank you for the informative article will take a look at it.
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UPDATE TO POST
Just found another backup option for you seeds. Check this out: Steely, it appears similiar to the Cryptosteel but with a better way to organise metal letters pieces.
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@smartbot tip 30
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Σ$$$ Tipped @nitego
Σ30 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.068 USDperSMART. Current value of the tip is$2.04 USD. To find out more about SmartCash, please visit https://smartcash.cc.Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
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@smartbot withdraw 1001 SXAH8TwSbG8i9tviMc9SVABnrWLxk9PsV3
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@nitego:
Σ1000.99 SMARThas been withdrawn from your account toSXAH8TwSbG8i9tviMc9SVABnrWLxk9PsV3. You have been chargedΣ0.01 SMARTwithdrawal fee. Transaction428ad251c6cfef1db0abefadda90c082a430af04d721958f647cedaf07ba4321is now completed. To monitor the transaction status click HERE.Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
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@smartbot withdraw 233 SfLHK3y5L2kQGFz4qJHwfoi6AVWiErQhRT
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@nitego:
Σ232.99 SMARThas been withdrawn from your account toSfLHK3y5L2kQGFz4qJHwfoi6AVWiErQhRT. You have been chargedΣ0.01 SMARTwithdrawal fee. Transaction1b44579302436826271814a15cce159c9e34a83a1415e7a853f32f3569f4d61bis now completed. To monitor the transaction status click HERE.Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
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Just another option for people to use.
SmartCash continuing to progress!
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@smartcashau it's more than just another option it's:
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You have just mentioned all the endearing features of electrum smartcash. There is no reason why anyone shouldnt adopt it. Its simply the answer to many smartcash wallet issues. Nice one @nitego
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@abasinkanga Thanks
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Nitego from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
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