With Bitcoin giving us an opportunity to “be your own bank”, this also imposes a responsibility to protect your funds. There are different ways to do it and today we will learn how to backup and restore Bitcoin wallet with Electrum.
Warning! Wallet’s backup should be stored in a safe place and ideally additionally encrypted. How to encrypt files you can read in one of our previous articles.
Backup Electrum Bitcoin wallet
Electrum has a built-in easy to use backup function. Access it by going to “File > Save backup”.
New dialog window will pop-up, asking where do you want to save your backup.
Choose the backup directory and press “OK”. You will receive a message that backup has been save successfully.
The newly created .backup file will contain all your private and public keys. The one who has this file will have access to all wallet’s funds. This is why you have to keep it in the safe place and for extra security we recommend to encrypt it.
Restore Electrum Bitcoin Wallet
Having your .backup file in place makes it easy to restore your Bitcoin wallet. When you launch Electrum wallet it will offer you either to create a new wallet or choose a file. The latter is exactly what we are going to do.
Select Choose… and specify the path to your wallet backup.
That’s it. After you press “Next” your wallet will be loaded along with all transactions history and available funds.