Electrum is a lightweight, open-source desktop wallet that supports multiple operating systems and integrates with hardware wallets like Trezor. Here’s a step-by-step guide on setting up and using Electrum with your Trezor device.
What Is Electrum?
Electrum is a lightweight Bitcoin wallet compatible with Windows, Linux, macOS, and Android OS. It allows users to connect to their own full node using Electrum Personal Server. Known for its speed and low resource usage, Electrum is a popular choice for Bitcoin management.
How Do I Install Electrum with a Trezor Device on Linux?
Install Required Tools
Open a terminal and run the following commands:
sudo apt-get install python3-dev python3-pip cython3 libusb-1.0-0-dev libudev-dev
sudo pip3 install trezor[hidapi]
Follow Electrum Installation Guide
Visit Electrum’s official website for detailed installation instructions.
How Do I Set Up Electrum with My Trezor Device?
Connect Your Trezor
Ensure your Trezor is connected to your computer throughout the setup process.
Create a New Wallet
- Open Electrum.
- Go to File > New/Restore.
- Name your wallet and select a storage location.
Select Wallet Type
- Choose Standard wallet and then Use a hardware device.
- Electrum will detect your Trezor. Select it and click Next.
Enter Passphrase (If Used)
Enter your passphrase if you use one, either directly on the Trezor device or in the provided field.
Select Derivation Path
Choose the native SegWit option (p2wpkh). For multiple accounts, adjust the derivation path according to the account number:
- Account #1:
m/84h/0h/0h - Account #2:
m/84h/0h/1h
Encrypt Wallet (Optional)
Decide if you want to encrypt the wallet with your Trezor device. Without encryption, the wallet becomes watch-only when the Trezor is not connected.
Sync and View Transactions
Once your public keys are imported and the transaction history is synced, you will be able to view all transactions and account addresses.
What Advanced Features Does Electrum Support with Trezor?
Multisig
Electrum supports multisignature (Multisig) configurations with Trezor devices. Refer to relevant blog posts for detailed guidance.
Coin Control
Electrum allows you to control which specific addresses are used when sending bitcoins and view all generated change addresses.
Recovering Funds Without a Trezor Device
If your Trezor is lost or damaged, you can recover your funds using Electrum and your recovery seed.
How Do I Recover Funds Without a Trezor Device?
- Open Electrum.
- Go to File > New/Restore.
- Enter a wallet name.
- Select Standard Wallet and then I already have a seed.
- Input your recovery seed, separating words with spaces. Check BIP39 Seed if applicable.
- Choose the appropriate account type (e.g., p2sh-segwit or legacy).
- Enter a password if desired or leave the fields empty.
- Click Next to complete the setup.
Note: Electrum does not support multiple accounts per wallet natively. If you use multiple accounts, import them individually and adjust the derivation path accordingly.
Where Can I Find Additional Resources?
- Electrum Homepage: https://electrum.org
- Electrum GitHub Repository: https://github.com/spesmilo/electrum
“Fill out the form to send a request to the wallet’s customer service.”