Electrum review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Electrum is an open source software wallet built for self custody, so it suits people who want to hold their own keys rather than rely on an exchange. The trade-off is scope, because it covers 1 coin and sits at the narrow end of the wallets compared here.
Key facts
- Best for
- Bitcoin holders who want their keys on their own computer.
- Wallet type
- Software↗
- Price
- €0↗
- Custody
- Self custody↗
- Coins supported
- 1↗
- Open source
- Yes↗
- Backup options
- Seed↗
- Legal entity
- Electrum Technologies GmbH↗
- Headquarters
- Germany↗
- Founded
- 2011↗
- Support channels
- Community↗
- Features
- Self-custody
- Official website
- electrum.org
Facts checked September 26, 2026, 2 sources
Apps and profiles
- Get the app
- Google Play
- Elsewhere
- WikidataWikipediaXf-droid.org
Pros and cons
Pros
- Keys stay with the holder under self custody, so no provider holds the balance.
- Open source, so the code can be read and checked by anyone before you rely on it.
- Backups use a seed phrase, the same method most wallets in the comparison use.
Cons
- Coin breadth is the weak point: 1 coin is covered, against a site median of 46.
- Support runs through community channels only, so there is no staffed desk to contact.
- As a software wallet it needs a desktop computer, where the mobile wallets on this list do not.
Who it suits
- Bitcoin holders who want their own keys and a desktop setup.
- Long term holders willing to protect a seed phrase themselves.
- People who already hold bitcoin and want a project running since 2011.
Who should look elsewhere
- Anyone wanting a phone wallet, since eToro is mobile and VaultLeap is mobile.
- Holders who want their keys on a dedicated device, where Trezor is hardware.
- People holding a wide coin list, because Electrum covers 1 coin.
Who runs it
Electrum is run by Electrum Technologies GmbH, based in Germany and working on the project since 2011. The software is open source, so the code can be read and checked by anyone. Day to day questions are answered through community channels rather than a support desk, which suits self custody users comfortable with documentation and forums.
How Electrum compares
9.2 vs 9.1
9.2 vs 9.4
9.2 vs 9.4
9.2 vs 8.5
9.2 vs 9.4
9.2 vs 8.7
9.2 vs 9.2eToro is a mobile wallet, so it fits readers who want to check and move coins on a handset rather than a desktop computer.
9.2 vs 8.7
9.2 vs 9.3
9.2 vs 9.0
9.2 vs 9.5
9.2 vs 9.0Trezor is a hardware wallet, which suits holders who want their keys kept on a dedicated device rather than in desktop software.
9.2 vs 8.6
9.2 vs 8.5
9.2 vs 8.3
9.2 vs 9.6
9.2 vs 9.5
9.2 vs 9.4
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 8.9
9.2 vs 8.8
9.2 vs 8.7
9.2 vs 8.6
9.2 vs 8.5
9.2 vs 8.4- 9.2 vs 8.0
Frequently asked questions
How much does the Electrum wallet cost?+
Electrum is free software, so there is nothing to buy. The listed price is €0, and no subscription or account fee attaches to using it. Running the wallet on your own computer also means you handle the device and its security.
How many coins can I hold in Electrum?+
Electrum covers 1 coin, bitcoin. The median wallet in this comparison supports 46 coins, so anyone holding a mixed portfolio needs a wider wallet than this.
Who holds the coins in an Electrum wallet?+
Electrum runs on self custody, so keys stay on your own computer and no provider can move them. The recovery phrase is what restores access if the machine fails, which makes the seed the part you must protect.
How do I back up an Electrum wallet?+
Backup is a seed phrase, a set of words generated by the wallet that restores your coins on a new device. Write it down and keep it offline, because anyone who reads it can take the funds. Most wallets in the comparison use the same approach.
Is Electrum open source?+
Yes, Electrum is open source, so the code that signs transactions is published and can be read and checked by anyone. The company behind it, Electrum Technologies GmbH, has run the project since 2011, which matters for a wallet that holds keys itself.
Does Electrum work on a phone?+
No. Electrum is a software wallet, so it runs on a desktop computer rather than a handset. Readers who want a phone wallet can look at eToro or VaultLeap, both listed as mobile wallets, or at Trezor, a hardware device.
How do I get help with Electrum?+
Help comes through community channels, so there is no staffed desk to email or call. Questions get answered in public by other users and in the project documentation, which suits people comfortable searching for their own answers.
Where is Electrum based?+
Electrum is operated by Electrum Technologies GmbH, based in Germany, and has worked on the wallet since 2011. Because it is a self custody wallet, your coins never sit with the company.
Sources
- docs.electrum.org/en/latest/faq.html checked September 26, 2026
Backs: Backup options, Coins supported, Features
“The seed is a random phrase that is used to generate your private keys.”
- electrum.org checked September 26, 2026
Backs: Custody, Founded, Headquarters, Legal entity, Open source, Price, Support channels, Wallet type
“Your private keys are encrypted and never leave your computer.”
Compiled from 2 source pages, checked September 26, 2026. We did not open an account.