Electrum review 2026: the veteran Bitcoin desktop wallet
Electrum is a fast, open-source, Bitcoin-only wallet for desktop and Android, maintained since 2011 and still updated regularly in 2026. It is excellent for experienced users who want fee control, multisig, hardware wallets and Lightning. Beginners may find it technical, and fake downloads have caused large losses in the past.
Status (as of October 2026): Active. Developed since 2011 and distributed by Electrum Technologies GmbH under the MIT licence. The latest version is 4.8.3, released 23 Oct 2026 with a fix for a high-severity issue where a malicious server could try to trick users into replacing a transaction they had just sent. Earlier 2026 releases added Ledger Nano Gen5 support (4.7.1, 26 Feb) and Trezor Safe 7 support (4.8.0, 8 Jul) (Electrum release notes).
Verdict
Electrum does one thing well: Bitcoin. It starts in seconds because it does not download the whole blockchain, and it gives you tools most mobile wallets hide, such as custom fees, coin control, fee bumping, multisig and offline signing. It works with nearly every major hardware wallet.
The interface looks dated and uses technical terms. And because anyone can run an Electrum server, the wallet has been a target for creative attacks. Keep it updated and download it only from the official site.
At a glance
| Feature | Electrum |
|---|---|
| Type | Software wallet (desktop and Android) |
| Custody | Self-custody with a seed phrase; hardware wallets and multisig supported |
| Chains | Bitcoin only, including Lightning |
| Platforms | Windows 10 (1809) and later, macOS 11 and later, Linux (AppImage), Android 8 and later. No official iOS app |
| Open source | Yes, MIT licence |
| Hardware wallets | Trezor, Ledger and others via plugins |
| Price | Free |
Fees
| Action | Cost (as of October 2026) |
|---|---|
| Sending Bitcoin | No Electrum fee. You choose the miner fee, and can raise it later (replace-by-fee) |
| Lightning payments | Network routing fees only |
| Submarine swaps (on-chain to Lightning and back) | Fees set by the swap server, shown before you confirm |
| Coin swaps to other assets | Not offered; Electrum is Bitcoin-only |
Electrum is one of the cheapest ways to send Bitcoin because you control the fee directly. See wallet fees compared.
Is Electrum safe?
Security model
Your seed phrase is created and stored on your computer, encrypted with your password. Electrum checks transactions with simplified payment verification and connects to public Electrum servers, which anyone can run. A server cannot steal your coins, but it can see your addresses and, as history shows, try to trick you. You can connect to your own server for privacy.
Note that Electrum uses its own seed format by default, not the BIP39 standard most other wallets use. Electrum seeds restore in Electrum and in some compatible wallets, but not everywhere. Electrum can import BIP39 seeds.
Incident history
| Date | What happened | Response |
|---|---|---|
| Dec 2018 to 2019 | Attackers ran malicious servers that showed fake "update" messages in older Electrum versions. The links led to trojanised wallets that stole seeds or redirected payments. Losses were estimated at over 771 BTC, about $4 million at the time (Malwarebytes, 16 Apr 2019). | Fixed in versions 3.3.3 and 3.3.4. Electrum warned users on 26 Dec 2018. |
| Apr 2019 | A botnet of more than 25,000 IP addresses attacked honest Electrum servers to push old clients onto malicious ones. | From 15 Mar 2019 Electrum used a flaw in pre-3.3 clients to force upgrades, and published guidance for server operators. |
| Apr 2026 | Version 4.7.2 fixed a plugin authorisation bypass that allowed local code execution, and a bypass of the Nostr Wallet Connect daily spending limit. | Patched; no losses reported in the release notes. |
| Oct 2026 | Version 4.8.3 fixed a high-severity issue where a malicious server could try to get users to replace a just-broadcast transaction. | Patched on 23 Oct 2026; update now. |
See our wallet security incidents tracker and fake wallet apps guide.
Key features
- Hardware wallet support, so keys never touch your computer.
- Multisig wallets that need several keys to spend.
- Watch-only and offline signing for cold storage on an air-gapped computer.
- Lightning payments and submarine swaps.
- Coin control, replace-by-fee and child-pays-for-parent for fee management.
- Own server option for better privacy.
Wallet types in Electrum
When you create a wallet, Electrum asks which type you want. The choice matters, so here is what each one means.
| Type | What it does | Who it suits |
|---|---|---|
| Standard | A single seed phrase controls the wallet | Most users |
| Hardware wallet | Keys stay on a connected device; Electrum is the interface | Anyone with larger amounts |
| Multi-signature | Several keys must approve, for example 2 of 3 | Shared funds, inheritance planning, advanced savers |
| Watch-only | Shows balances and builds transactions but cannot sign | Monitoring cold storage |
| Imported keys | Uses individual private keys or addresses | Sweeping old paper wallets |
A useful setup for savings is a watch-only wallet on your everyday computer and the signing keys on a hardware wallet or an offline machine. You build the transaction online, sign it offline and broadcast it again online.
Seed phrase and recovery
Electrum shows a 12-word seed when you create a standard wallet. You can also add a passphrase, sometimes called "extend this seed with custom words", which creates a different wallet; forgetting it means losing access. Electrum cannot recover a lost seed or password. If you forget the wallet file password but have the seed, restore from the seed.
When moving from Electrum to another wallet, check that the other wallet supports Electrum seeds. If not, send the coins to a new address in the new wallet instead of importing the seed.
Setting up safely
- Type
electrum.orgyourself or use a bookmark. Fake Electrum sites and search ads have stolen millions. - Verify the download's signature with the developers' published GPG keys before installing. The site explains how.
- On Android, install from Google Play or F-Droid, checking the publisher. There is no official iOS app, so any "Electrum" on the App Store is not from the Electrum developers.
- Create a standard wallet, write the seed on paper and add a strong password. See seed phrase safety.
- Never install an "update" from a pop-up or a server message. Update only from the official site.
Pros and cons
| Pros | Cons |
|---|---|
| Open source and maintained since 2011 | Bitcoin only |
| Full fee control and fast startup | Dated, technical interface |
| Multisig, offline signing and Lightning | Own seed format is not BIP39 by default |
| Works with most hardware wallets | No iOS app; history of phishing via fake updates |
Who it suits
Good for: Bitcoin holders who use a desktop, want fee control or multisig, or want a free interface for a hardware wallet.
Look elsewhere if: you hold other coins, use an iPhone, or are new to crypto and want a simpler app. A beginner-friendly multichain wallet, or our best Bitcoin wallets list, may suit you better.
Alternatives
- Trezor: pair it with Electrum, or use Trezor Suite on its own.
- Exodus: an easier desktop wallet with many coins.
- Ledger: hardware protection that also works with Electrum.
Background: hot vs cold wallets.
Frequently asked questions
Is Electrum safe?
Electrum is open source and has been maintained since 2011. The biggest risks are fake downloads and fake update messages, which stole an estimated 771 BTC in 2018 and 2019. Download only from the official site, verify the signature and keep it updated.
Is Electrum still maintained in 2026?
Yes. Version 4.8.3 was released on 23 October 2026, after several releases earlier in the year that added Lightning improvements and support for the Ledger Nano Gen5 and Trezor Safe 7.
Does Electrum have an iPhone app?
No. Electrum runs on Windows, macOS, Linux and Android. Any Electrum app on the Apple App Store is not from the official developers.
Can I restore an Electrum seed in another wallet?
Not always. Electrum uses its own seed format by default, not BIP39. Some wallets can restore Electrum seeds, but check before relying on it. Electrum can import BIP39 seeds from other wallets.
Does Electrum charge fees?
No. You pay only the Bitcoin network fee, which you set yourself. Lightning routing and submarine swaps have their own small fees.