and now in this video, we want to talk about electrum.
electrum is one of my favorite bitcoin wallets, super easy to use and allows you to send and receive bitcoin.
and it is a wallet you own.
unlike services like coinbase, where you might not actually own the coin that they say you have in your account, meaning there's risk of hacking or other fraud.
electrum, those coins are yours and that seed is yours and you can recover it from anywhere in the world because that is your wallet.
so what you want to do is on your tails desktop, you can just simply search for electrum.
we'll hop over there now.
we'll go to our applications.
and if you look under internet, it's the 1st one available.
now we saw the process of setting up electrum earlier, but i'll go ahead and make a new wallet really quickly by creating create new wallet.
you can name your wallet, whatever, but we'll just say test wallet.
we'll say next.
there's multiple options for wallets available.
you can have a standard wallet, a wallet with two factor, a multi- signature wallet, or you can import a different wallet if you have private keys available just to start the wallet up.
again, the differences between these wallets are a bit outside the scope of this course currently.
so normally i'll just want to go with a standard wallet, especially if it's not something you'll keep long term and maybe you just have a few simple transactions you need to send through.
now you can determine how you want to create a new seed or restore a wallet through a new seed.
if you have a seed, you'd be restoring the wallet.
so if this is a brand new wallet, you won't already have one.
you can use a hardware device to create a key.
if you have an offline hardware device that generates keys, you can use a master key or you can just simply create a new seed, which is what we'll do here.
now it will ask you to take the seed that's been generated and you would take a look at this and then on the next screen you would enter that in.
be aware that showing this screen to anyone is a bad idea.
you should never show your seed.
even me showing this in this video means that people will potentially be able to have access to this wallet.
it says right here the warnings never disclose your seed, never type it on a website, never store it electronically.
you should always keep this seed safe and ideally just memorize it if you can, otherwise store it somewhere very secure.
and that's really it.
once you go to the next screen, you'll retype your seed.
and once you do, you'll be done.
and that's a very simple way of how to create an electrum wallet.
you'll want to put in a password here and you definitely want to ensure encrypt wallet file is turned on.
once you put in the password, go ahead and click next.
and then assuming electrum is correctly configured, it will launch up your wallet.
and here we have our test wallet loaded up.
some simple commands you can do in here is sending and receiving, and there's some other tools available as well, again, outside of the scope of this course.
but if you want to do simple send and receive, you can just say receive, you don't even have to put anything in here, just say create a request.
and then you would just send bitcoin to that uri.
you can also switch this to be a bitcoin address, lightning payments, which you have to make sure is configured or the uri itself.
and if you click on this window, it will actually switch to a qr code that you can scan with like your phone or a mobile device.
you can also send bitcoin similarly, you can pay to either take an image with your computer screen, paste it in there, or otherwise put in the address you want to send to.
that just pasted what was on my clipboard, which is myself.
so that's going to be a pointless send.
and then you put how much.
now they track everything and i think it's micro bitcoin, so you'll need to do the conversion and you can actually set that in the settings to convert it to regular bitcoin if you would like.
right here in the base units if you wanted that instead of the micro bitcoin or bits or sat.
and then this will be your history tab showing all the transactions that happen on electrum.
if you have any questions on this, of course, let me know if you'd like some deeper explanation in electrum or crypto in general, we are working on a course for that specifically.
but for now, feel free to reach out if anything comes up.
thank you and we'll see you in the next one.