Using Electrum through Nym’s mixnet
NymConnect is an interface allowing in one click to connect to the mixnet of Nym. The goal of NymConnect is to improve the privacy of the applications you already use by protecting your traffic from an observer and even from the application itself.
In today’s application case, No Trust Verify shows you how to use the Electrum wallet on your computer through NymConnect.
What is the Electrum wallet?
Electrum is a Bitcoin wallet created in 2011 by Thomas Voegtlin, a French developer. It is one of the most popular and widely used Bitcoin wallets, thanks to its ease of use, security and compatibility with different platforms.
One of the main features of Electrum is that it is a thin client, which means that it does not store the entire Bitcoin blockchain on your medium. Instead, it communicates with state-of-the-art servers using Simple Payment Verification (SPV), which allows it to validate transactions and view your wallet balances without having to download the entire blockchain.
In addition, Electrum is very secure because it does not store your private keys on the servers, which prevents hackers from stealing them. It is also compatible with MultiSig, which allows you to have several private keys for the same public key and thus, for example, require the signature of several people to validate a transaction.
Electrum is also compatible with cold storage, which consists of storing your Bitcoins offline on a cold storage medium, such as a USB key, which offers additional security against hackers.
Electrum is also compatible with some hardware wallets, such as Trezor, Ledger and Keepkey. These hardware wallets are considered the most secure to store your Bitcoins, as they are stored offline and cannot be hacked remotely.
Finally, Electrum supports Two-factor authentication (2FA), which is a security system that requires the possession of two private keys to complete a transaction. This adds an extra layer of security to your wallet and prevents hackers from accessing your wallet without your authorization.
In summary, Electrum is a popular Bitcoin wallet that is easy to use, lightweight, secure, compatible with various hardware wallets, with SPV, MultiSig, cold storage and 2FA.
Using the Electrum wallet through NymConnect
Step 1
You need to download and install Electrum :
https://electrum.org/#download
Step 2
If you haven’t already done so, you need to download NymConnect via the following link:
https://nymtech.net/download-nymconnect/
Step 3
Open NymConnect, and click on the drop-down menu at the top left of the screen.
Select Settings, then Select your gateway.
Activate the On button and copy / paste the address of the following gateway:
EBT8jTD8o4tKng2NXrrcrzVhJiBnKpT1bJy5CMeArt2w
Step 4
Once connected, in the Electrum wallet, go to Tools then Network you must add the SOCKS5 proxy in the Network section.
Proxy host : 127.0.0.1
Proxy port : 1080
The blue light on the right of the screen indicates that you are connected to the proxy.
You can now use the Electrum wallet via the Nym mixnet!
To deactivate NymConnect, just click on Disconnect.
About No Trust Verify
We are members of the #VerifyValley. We support the Nym Technologies network and contribute to it since the testnet. We are happy to strengthen the mixnet with our mixnodes and our gateways.
Developer of pastenym.ch and isnymup.com
✅ Hosted in Switzerland
✅ Guaranteed commission: 5%.
✅ Bandwidth: 10 Gbit/s
Identity keys:
NTV1 : APxUbCmGp4K9qDzvwVADJFNu8S3JV1AJBw7q6bS5KN9E
NTV2 : 4yRfauFzZnejJhG2FACTVQ7UnYEcFUYw3HzXrmuwLMaR
NTV3 : ESPa5xnwZ7BebSX9SGmUbeYgNtkUeJo8PtbBx7JhzEHA
Do not hesitate to contact us:
