Electrum too, charges a small fee for Bitcoin transactions and you will be duly notified of the same at this stage. Also note that it takes time to process the transaction, in my case it took about two hours to receive the confirmation. Under the receive tab, you will a long list, all of which will be a combination of numbers and characters. Instead, it is simply a place to store your Bitcoin. For this reason, it is important to take care not to lose the seed and also have it within reach at all times in case you need to recover your wallet. Ask Question. But do you know that Electrum also works great as a channel to buy Bitcoins?