There are many Bitcoin wallets on the market, each providing unique features. Among the most popular is the Electrum Bitcoin wallet. The easy-to-use and lightweight wallet allows you to store your cryptocurrency safely.
This free and open-source wallet is compatible with many operating systems such as Linux, Android, and Windows. Developed in 2011, it has become a favorite for most Bitcoin users.
In this tutorial, you’ll learn how to install it on Ubuntu 22.04.
Why Electrum Bitcoin Wallet?
Compared to the Bitcoin Core wallet, the Electrum wallet offers more features and is more user-friendly. Unlike Bitcoin Core, which is complex to set up and operate, requiring technical knowledge to manage the full node, Electrum wallet has a straightforward installation process and a user-friendly interface.
Besides, it comes with advanced wallet functions such as instant transactions, custom fees, and multi-signature. With Bitcoin Core, you only get a handful of basic functions. Other features include two-factor authentication, SOCKS4 and SOCKS5 compatibility, and displaying Bitcoins in fiat currency.
How To Install Electrum Bitcoin Wallet
The easiest way to install the Electrum Bitcoin wallet is to use Snap Manager. To install it, execute the command below:
sudo snap install electrum
This will install the wallet requiring minimal settings changes.
Alternatively, you can use the manual process.
1) Install the Necessary Dependencies
First, you need to update the packages on your system. Use the following command to do so:
sudo apt update
Once updated, install the necessary dependencies using the command below:
sudo apt install python3-pyqt5 libsecp256k1-dev python3-cryptography
2) Download the Latest Version
Next, we’ll download the latest version of the Electrum Bitcoin wallet. You’ll need to visit the official website to verify the latest version. We’ll then use the wget command to install it.
wget https://download.electrum.org/4.5.2/Electrum-4.5.2.tar.gz
3) Verify GPG Signature
Verifying the GPG signature ensures that you’ve downloaded the correct files. For this, we use the Thomas V public key. Execute the following commands:
wget https://raw.githubusercontent.com/spesmilo/electrum/master/pubkeys/ThomasV.asc
gpg --import ThomasV.asc
4) Generate Private Key
Now, generate your private key using the command below:
gpg --generate-key
5) Sign the Public Key
Use your private key to sign the public key we downloaded by executing the command below:
gpg --sign-key ThomasV
Finally, download the key file and verify the signature:
wget https://download.electrum.org/4.5.2/Electrum-4.5.2.tar.gz.asc
gpg --verify Electrum-4.5.2.tar.gz.asc
6) Launch the Application
You don’t have to install the app to run it. You can use the tar command to unpack the compressed download file. You’ll then use Python to run it. So ensure you have Python installed.
tar -xvf Electrum-4.5.2.tar.gz
python3 Electrum-4.5.2/run_electrum
But if you want the Electrum Bitcoin wallet to be installed on your system, you can use the commands below to install all necessary packages.
sudo apt-get install python3-setuptools python3-pip
python3 -m pip install --user Electrum-4.5.2.tar.gz
You can now run the Electrum Bitcoin wallet using the command below:
electrum
Here’s a screenshot:
