Electrum
Electrum Technologies GmbH
Electrum is a Bitcoin-only desktop and mobile wallet, lightweight and open-source (MIT license), active since 2011 and among the most trusted in the ecosystem. Private keys stay on the user's device (seed phrase) and it never takes control of funds. It supports hardware wallet integration (Ledger, Trezor, Coldcard), multisig, cold storage with watching-only wallets, and connecting to your own Bitcoin node (e.g. ElectrumX/Electrs) to maximize privacy and independence.
Data & conditions
| Fund custody | Self-custody (funds in your control) |
|---|---|
| Type | Software (hot wallet) |
| Source code | Open-source |
| Recovery | Seed phrase (Electrum seed / BIP-39) |
| Bitcoin-only | Yes |
| Supported chains | Bitcoin |
| WalletConnect | No |
| Hardware wallet support | Yes |
| Segment | B2C |
| MiCA / License status | Nessuna (wallet self-custody non-custodial) |
Strengths
- MIT open-source with reproducible builds; hardware wallet, multisig and cold storage support; can connect to your own Bitcoin node for privacy and sovereignty.
- Self-custody: funds stay in your wallet — the platform cannot touch them.
- No KYC: usable without identity verification.
- Open-source, verifiable code.
- Self-hostable: you can run your own instance or node.
Weaknesses
- Bitcoin only (no other chains); spartan interface aimed at technical users; by default connects to public Electrum servers (better to run your own node).
- No notable sovereignty drawback documented.
Verdict
Score 4.4/5, very strong profile. In its favour: mIT open-source with reproducible builds; hardware wallet, multisig and cold storage support; can connect to your own Bitcoin node for privacy and sovereignty. The trade-off to weigh: bitcoin only (no other chains); spartan interface aimed at technical users; by default connects to public Electrum servers (better to run your own node).
On the Sovereignty lens the score is 5.0/5 (outstanding): the strength is privacy & anonymity (5.0/5), while censorship resistance (4.8/5) is the weak link.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Electrum open source?
Yes. Electrum is free software released under the MIT license, with reproducible builds: the code is public and verifiable.
Does Electrum support hardware wallets?
Yes. Electrum integrates with hardware wallets such as Ledger, Trezor and Coldcard, and supports multisig and cold storage via watching-only wallets.
Can I use Electrum with my own Bitcoin node?
Yes. Electrum can connect to a personal Electrum server backed by your own full Bitcoin node (e.g. ElectrumX or Electrs), so you don't rely on public servers and maximize privacy and independence.
Sources
- Official service page Versione · Licenza · Funzioni Data verified on Jun 20, 2026
- en.bitcoin.it Storia · Azienda · Hardware · Nodo Data verified on Jun 20, 2026
- f-droid.org Open-source · Piattaforme Data verified on Jun 20, 2026