How to set up a Bitcoin Wallet and more about it
How to set up a Bitcoin Wallet and more about it

Table of content:

  • Choosing and creating online bitcoin wallet
  • How to increase the level of security when storing funds online
  • The most popular local bitcoin-clients
  • How to replenish your bitcoin wallet
  • How to display bitcoins and transfer it between wallets
  • Conclusion

How to set up a bitcoin wallet isn’t the most important question for all miners but still isn’t the least. Beginners in the cryptocurrency world also want to know how to replenish and withdraw funds as well as the fees for transactions. All options for creating wallets for cryptocurrency are free! The commission is charged only for transactions (transfers) between wallets.

Choosing and creating online bitcoin wallet

Let’s start from how to create a bitcoin wallet. The site about Blockchain is definitely one of the main online wallets for bitcoin in the world, which has both mobile versions and the largest number of customers. This client has very high security, various two-factor identification, keyboard character sets, encryption, etc. However, keep in mind that the transfer fee here will be slightly higher than in any local wallets.

Now let’s understand the principles of bitcoin wallet creation. To begin we go to the above site about Blockchain, and then to the tab "Wallet". Then click on the button "Create a free wallet Bitcoin". After that, a new window and special lines will appear on your screen, into which you must enter your email address and password. And do not forget to check the box, confirming your agreement with the "Terms of Service".

Click the "Continue" button. It will take some time until your wallet number is generated (it will take no more than 30 seconds). After that, you will be logged in to your personal account: Before you can use your wallet, you must activate it. To do this, you need to log in to the electronic mailbox that you specified during registration. In the opened letter we click the button "Verify Email".

Next, you will be moved to a new browser tab, where you will be informed of the successful completion of the verification of the email box. Separately, I want to draw your attention to the content of the email, which I mentioned above. Under the "Verify Email" button, you will find the "Wallet ID" - a set of numbers and letters of the English alphabet that you will need if you need to restore access to the bitcoin wallet.

Save this data on your computer in a separate file, and even better, duplicate this file and transfer it to a removable disk (flash drive). After the account in the block account has been created, you can at any time "take the number" of your wallet and use it for its intended purpose, for example: getting bitcoins on the cloud-mining service (the most promising direction for the beginning of 2018); to obtain a cryptocurrency on its equipment.

Buy coins in the exchanger for rubles or dollars; earn on faucets (already almost outlived itself). To get your number you need to click on the button "Start receiving Bitcoins" in your account. Next, a dialog box appears, in which the wallet number is displayed. It can be copied and started to be used for the intended purpose.

How to increase the level of security

Now, as we understood how to make a bitcoin wallet, let’s move forward. No service can give you complete security and even if it concerns those projects that are related to money. Recently, cybercriminals have increasingly started cracking the bitcoins of users' wallets more and more often. But most often they succeed, because wallet owners do not install additional protection on their accounts, and they limit themselves to only a standard password.

The most popular local bitcoins-clients

How to make bitcoin wallet, this question is now far away, because we told you about it! Let’s get more information! This type of bitcoin wallet is more reliable than the online version, but requires a little more skill for use, and most importantly to ensure the security of your computer for vulnerability to viruses and Trojans capable of stealing your information, and hence access to the wallet.

 Bitcoin Core is the main bitcoin client that most network users use because it is the original Bitcoin client and it is easy to use. But at the same time it takes about 20 GB of space on the computer and very long synced in the beginning after its download and installation. The standard commission for the transfer is about 0.00001 btc / Kb, which is much lower than when using online services bitcoin. Platforms: Mac, Win, Linux

Armory is suitable for advanced users who require additional flexibility and security for managing their funds. It also requires the Bitcoin Core database and is installed on top of the base client. The client is resource intensive, so it requires a "strong" computer.

Electrum is a lightweight and at the same time functional bitcoin client, perfectly suitable for beginners, because it is easy to use. There is a complete and portable version. The task of this application is to speed up the process of working with the bitcoin wallet as much as possible without consuming a lot of resources. Electrum does not synchronize the entire blockchain database, but uses its remote server, where this database is stored. You can also create your own server and use it. Platforms: Mac, Win, Linux, Android.

Multibit is an alternative to Electrum, also does not use the entire blockchain database, but only synchronizes that part that relates to a specific address, so it does not require a lot of resources and time to work. Platforms: Mac, Win, Linux

How to add funds to your Bitcoin wallet

You can put BTC into your wallet in several ways:

  1. Purchase bitcoins in a currency exchange. The course is assigned taking into account the global dynamics of the BTC exchange rate, and also depending on the policy of the specific exchange. You will need your bank card. It can be credit, debit and even a prepaid card VISA or MasterCard.
  2. Mine BTC on a farm that is very expensive nowadays or join your facilities to the pool. The idea of cloud mining Bitcoin in the special service is good. There you buy power for cryptocurrency production for dollars and rubles and daily you get bitcoins of proportionally paid capacity.

How to display bitcoins and transfer it from wallet to wallet

This way of transferring is for those who need to transfer BTC to another bitcoin wallet, yours or another person’s. First of all, you need to go to the online site of the wallet Blockchain (registration is reviewed above) and authorize. Then go to the section "SEND MONEY". To transfer, you need to do the following: click “Send money”; in the field On fill in  the address of the bitcoin-wallet of your recipient; next, where Amount fill in how many bitcoins you want to send; finally click the Send Payment button.

Conclusion

Creating bitcoin wallet isn’t that hard as everyone thinks when hears it first. Many users believe that it is easier to learn all the nuances in practice. It is enough to install one of the above wallets - web or desktop - as with simple prompts and a clear interface you can quickly master their functionality. Hope this article helped you a lot!


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