Overview: Electrum bitcoin wallet sees major update

Electrum, one of the best lightweight bitcoin wallets has been bumped to version 2.0, the release sees the addition of major new features including two-factor authentication, multisig wallets and invoices.

Two-factor authentication (2FA) functionality has been included with the wallet thanks to TrustedCoin, you do have to provide an email address unfortunately if you want to have this added protection. If TrustedCoin is no longer available for some reason in the future then it’s still possible to restore your wallet from a seed and access your coins from the wallet addresses.

Another major feature in the release is multisig wallets, this feature allows two users to have a shared wallet so to speak, they both contain the same receiving addresses and to send from these addresses both wallets must sign the transaction to send a payment. Some use cases for this would be a company account where you both parties want to agree what funds are spent on, you could also store one of the wallets on your main machine and one of them on an offline machine, this will have the similar effect as a cold storage wallet as attackers will have a tough time stealing your bitcoins.

The 2.0 release also has support for invoices, making it easy for companies to offer a button that will open the wallet with a fixed address and an amount ready for the user to send.

All of the features from previous releases are still present in this release, so for users coming from legacy releases there should not be any issues restoring wallets or creating them the way that you are used to.

Over the last day bitcoin has seen an increase in value, reaching a high of $271 and just dipping below that, it started the day at $257, the increase is quite unusual given the sharp drop in price in recent months, reaching it’s lowest in quite some time.

Electrum is available on Android, Linux, Windows and Mac, you can find the downloads here.

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