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Electrum vs Wallet of Satoshi

Comparing
two wallets
Decided by
Editorial rating
Last reviewed
2026-08-25
Electrum4.4Bitcoin-only

The oldest bitcoin wallet still in active development, and the one whose users are hunted by a fake-update scam running since December 2018.

Wallet of Satoshi2.7Bitcoin-onlyWarning

The easiest Lightning wallet to start with, and a custodial one: the company holds your coins, and it has stopped offering that in the US and the EU.

Verdict: Electrum

Electrum rates higher on our rubric: 4.4 against 2.7 for Wallet of Satoshi.

Criterion
Editorial rating
Electrum
4.4
Wallet of Satoshi
2.7

Electrum and Wallet of Satoshi, fact by fact

Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.

Electrum and Wallet of Satoshi compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
FactElectrumWallet of Satoshi
Editorial rating4.4 (favoured on this row)2.7
StatusAvailableCaution: see the review
Made byElectrum Technologies GmbHLiving Room of Satoshi Pty Ltd
PriceFree downloadFree download
Who holds the keysself-custodial, keys generated and encrypted on your own machine, with transactions checked by SPVcustodial in its default mode, meaning the company holds the keys, with a separate self-custodial mode where you do
Bitcoin-onlyYesYes
Runs onAndroid, Windows, macOS, LinuxiOS, Android
ScreenNot statedNot stated
ConnectivityConnects to public Electrum servers or one you run yourself, verifying your transactions by SPVNot stated
ReleasedNovember 2011, written by Thomas VoegtlinThe custodial service left the US on November 23, 2023 and the European Union at the turn of 2026
Countries on the maker's listNo published listNo published list
Last reviewed2026-08-252026-08-25

Pros and cons, side by side

Electrum

What works

  • Continuously maintained since November 2011, which nothing else on this list can claim
  • Lightweight: it checks your transactions by SPV instead of downloading the whole chain
  • Reproducible builds, signed by several independent builders, with signatures published next to every download
  • Hardware wallet support for Ledger, Trezor and KeepKey, plus multisig and watch-only cold storage
  • MIT licensed, and anyone can run the server software it talks to, so no company controls the network
  • An official Android build on both Google Play and F-Droid

What to watch

  • Users are the target of a fake-update scam that ZDNet traced to more than 22 million dollars of thefts by October 2020
  • The interface assumes you already know what a change address and a derivation path are
  • Windows builds are often flagged by antivirus heuristics, which the project says it cannot do anything about
  • No iOS version, and no built-in way to buy bitcoin
  • Two-factor signing runs through a third party, Trustedcoin, rather than the wallet alone

Wallet of Satoshi

What works

  • The fastest way onto Lightning there is: no channels, no liquidity management and no node to run
  • Free Lightning address that reads like an email, so anyone can pay you without scanning a code
  • Pays Lightning invoices and on-chain bitcoin addresses from the same box, detecting which you pasted
  • A self-custodial mode is offered everywhere, including in regions where the custodial one is not
  • No breach of its custodial infrastructure has been publicly reported

What to watch

  • Custodial in its default mode, so the company can freeze, lose or stop serving your balance
  • Left the US market on November 23, 2023 and has not announced a return
  • Withdrew the custodial service across the European Union at the turn of 2026, pushing EU users into self-custody
  • No published country list, so which mode you get is decided by the app rather than by a page you can read first
  • In-app buying runs through third-party partners whose country coverage changes without the wallet saying anything

Frequently asked questions

Is Electrum or Wallet of Satoshi better?

Electrum rates higher on our rubric: 4.4 against 2.7 for Wallet of Satoshi. The rating follows the product rubric published on our about page; the rows above set custody, price and platforms side by side so you can check it.

Are Electrum and Wallet of Satoshi free?

Yes, both are free to download. What differs is who holds the keys: Electrum is self-custodial, keys generated and encrypted on your own machine, with transactions checked by SPV; Wallet of Satoshi is custodial in its default mode, meaning the company holds the keys, with a separate self-custodial mode where you do.

Is Electrum or Wallet of Satoshi bitcoin-only?

Both are bitcoin-only: neither supports another coin, which is a deliberate design choice for a smaller codebase.

Does Electrum or Wallet of Satoshi carry a warning?

Wallet of Satoshi: Wallet of Satoshi pulled its app from US app stores and stopped serving US customers on November 23, 2023, then withdrew its custodial Lightning service across the European Union at the turn of 2026, as the MiCA transition periods and the DAC8 reporting rules closed in on custodial providers. EU users are offered the self-custodial mode instead. Wherever the custodial mode is still available, the company holds the keys, which is the risk to weigh before you put money in it.

The full reviews: Electrum and Wallet of Satoshi, each with its sources, and every wallet we review.

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