Use an Elec­trum wal­let to pro­tect your cash



ELEC­TRUM You can get hold of the free

soft­ware from https:// elec­­load. BIT­COIN HAS GONE FROM BE­ING the prov­ince of a few bored pro­gramers to a ma­jor in­vest­ment tool. While a sin­gle Bit­coin was worth around $1,000 in Jan­uary last year, to­day it’s worth well over 10 times that amount. The preva­lence of on­line ex­changes such as Coin­Base and Bit­stamp have also made it easy for even non IT-lit­er­ate peo­ple to cash in on the crypto-craze.

As a vir­tual cur­rency, Bit­coin is vul­ner­a­ble to hack­ers, which is why any­one in­ter­ested in in­vest­ing must have a se­cure soft­ware “wal­let” to keep their funds safe. Elec­trum, which has been around since 2011, is a re­mark­ably pow­er­ful and free client for Bit­coin. Not only is the soft­ware ex­tremely easy to set up, but it uses pow­er­ful en­cryp­tion to keep your wal­let files safe. Elec­trum also sup­ports cre­ation of a spe­cial “seed” of 12 ran­dom dic­tio­nary words, which you can use to re­store your Bit­coins if any­thing hap­pens to your com­puter. The sim­ple in­ter­face, which is writ­ten in Python, can be mas­tered in a few min­utes. If you need to check your bal­ance on an­other ma­chine, Elec­trum can also load “watch­ing” wal­lets, which can dis­play your bal­ance but not make pay­ments

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