BTCV Electrum Vault Review

Bitcoin Vault’s most awaited and promising anti-theft feature has been successfully implemented through its 3-Key Security Solution. For the first time in the history of crypto, users will now be able to cancel and reverse transactions within 24 hours and revert their funds using the 3-Key Security Solution. This makes Bitcoin Vault one of the safest crypto asset in the world.

An entire ecosystem of apps and tools is developed by the BTCV team to provide a user-friendly interface and innovative anti-theft crypto experience. This ecosystem includes the Gold Wallet mobile app, the Electrum Vault desktop wallet, and an online Key Generator necessary to create both Cancel and Fast Transaction Key. This article focuses on the Electrum Vault desktop application.

Electrum Vault:

The Electrum Vault wallet is an application dedicated for desktop (Windows, Linux OS, macOS). Its Source code is based on the well-known Electrum wallet released under the MIT license and one of the most respected wallets in crypto.

Electrum Vault app is optimized for users to both manage their BTCV funds and utilize the 3-Key Security Solution. This gives users the opportunity to utilize the feature of canceling transfers, which is really useful in situations like an unintended transaction, hack or even a simple human mistake.

3-Key Security Solution

This solution is implemented using three private keys, and these are required to be used in various combinations to perform different types of transactions.

· Standard Transaction Key is generated automatically and works in the background. It is required to initiate all transactions and is also to recover and restore the wallet in case of loss, hack or any technical issues

· Cancel Transaction Key allows users to perform Cancel transactions within approximately 24 hours, or after 144 blocks are confirmed.

· Fast Transaction Key gives users the possibility to make Secure Fast transactions and transfer BTCV in a matter of minutes.

Key functionalities:

Electrum Vault application offers users the chance to create three different types of wallets. They are Standard, 2-Key Vault and 3-Key Vault.

Users can choose the type of wallet depending on the type of transactions they wish to perform.

Standard wallet

This is the basic type of wallet and secured with only one key, the standard transaction key. It allows users to perform only the standard type of transaction.

2-Key Vault

This type of wallet is secured with two keys: Standard and Cancel transaction keys. It allows users to perform Secure and Cancel type of transactions.

The Secure transaction uses the Standard Transaction Key (which works in the background) and is delayed by 24 hours. This delay gives users an opportunity to react to an unauthorized or faulty transfer.

Using the Cancel transaction key, users can perform the Cancel transaction within 24hrs and redirect their assets back to their wallet or any other wallet.

3-Key Vault

This type of wallet is secured with three keys: Standard, Cancel and Fast transaction keys. It allows users to perform Secure, Cancel and Secure Fast type of transactions.

The Secure transaction uses the Standard Transaction Key (which works in the background) and is delayed by 24 hours. This delay gives users an opportunity to react to an unauthorized or faulty transfer.

To cancel the secure transaction within 24 hours, users are required to use both Cancel and Fast transaction keys

Secure Fast transaction is an irreversible transaction and is executed within the next available block, which usually means around 10 minutes and it requires Fast transaction key.

3-Key Vault type wallet is recommended as it contains all the features of 3-Key Security Solution.

Wallet encryption

To make the 3-Key Security Solution even more theft-proof, Electrum Vault offers users additional security features. Users can create a password which encrypts the wallet and is also used for confirming any type of transaction. Hence it is highly recommended to create a strong password containing at least eight letters, numbers, and special characters.

2FA Wallets

Additionally, users can create 2-Key Vault and 3-Key Vault type wallets with 2FA (two factor authentication) using the Gold Wallet as an authenticator.

This means that with the 2FA type of wallet on Electrum Vault, the user is required to use Gold Wallet to validate each transaction of any type to be performed. The feature provides an extra layer of protection. This solution is the highest form of security ever possible in the history of the crypto industry.

Electrum Vault is available for download from the BTCV website for Windows, Linux OS, and macOS.

For more information about Bitcoin Vault, please visit our website:

Bitcoin Vault - A higher standard in security

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BTCV Electrum Vault Review was originally published in Bitcoin Vault (BTCV) on Medium, where people are continuing the conversation by highlighting and responding to this story.