To start, let’s start off by saying that this is one of those policies that makes us wonder if anyone actually reads them before agreeing to them. We mean, who has the time or patience for all that legal jargon? But hey, we’re here to help you out and break it down in a way that won’t put you to sleep (or worse, make your eyes bleed).

So what does Electrum have to say about privacy? Well, according to their policy, they take “reasonable measures” to protect your personal information. Sounds great, right? But let’s dive deeper into this and see exactly what that means.

First off, Electrum collects some basic info from you when you sign up for an account things like your name, email address, and a password (which they don’t store in plain text). They also collect data on how you use their wallet, including transaction history and IP addresses. Don’t Worry, because this information is only used to improve the service and prevent fraud.

Now, what Electrum doesn’t do with your info. According to their policy, they don’t sell or share any of it with third parties (unless required by law). They also clgoal that all data collected is encrypted and stored securely on servers located in Europe.

But here’s where things get a little bit sketchy Electrum does allow for some limited sharing of your information with their partners, which they define as “trusted third parties.” These partners may use this info to provide you with targeted advertising or other services that are tailored specifically to your needs.

Now, we’re not saying that there’s anything wrong with this after all, it can be helpful to have personalized recommendations and offers based on your interests and preferences. But what we do want to know is exactly who these partners are and how they use our data. Unfortunately, Electrum doesn’t provide us with any specific details in their policy (other than the fact that they “may” share this info).

While we appreciate their efforts to protect our personal information and prevent fraud, we do wish they were more transparent about who has access to our data and how it’s being used. But hey, at least we can sleep soundly knowing that our info is stored securely on servers located in Europe (or wherever else Electrum decides to store it).