Electrum
Electrum's
focus is speed and simplicity, with low resource usage. It uses remote servers
that handle the most complicated parts of the Bitcoin system, and it allows you
to recover your wallet from a secret phrase.Control over your money:-
This
wallet gives you full control over your bitcoins. This means no third party can
freeze or lose your funds. You are however still responsible for securing and
backing up your wallet.
Decentralized:-
This wallet connects to a random server from a list.
This means little trust in third parties is required when verifying payments.
However, it is not as secure as a full node like Bitcoin Core.
Good transparency:-
The developers of this wallet publish the source code
for the client. This means any developer in the world can audit the code.
However, you still need to trust developers of this wallet when installing or
updating the final software because it was not built deterministically like
Bitcoin Core.
Vulnerable environment:-
This wallet can be loaded on computers which are
vulnerable to malware. Securing your computer, using a strong passphrase,
moving most of your funds to cold storage or enabling two-factor authentication
can make it harder to steal on your bitcoins.
Basic privacy:-
Prevents spying on your payments:
This wallet makes it harder to spy on your balance and
payments by rotating addresses. You should still take care to use a new Bitcoin
address each time you request payment.
Discloses information to a third party:
This wallet uses central servers which are able to
associate your payments together and log your IP address.
Tor can be used:
This wallet lets you setup and use Tor as a proxy to
prevent attackers or Internet service providers from associating your payments
with your IP address.
