How to create a bitcoin wallet
How To Set Up a Wallet
A “wallet” is basically the Bitcoin equivalent of a bank account.
It allows you to receive bitcoins, store them, and then send them to
others. There are two main types of wallets. A software wallet
is one that you install on your own computer or mobile device. You are
in complete control over the security of your coins, but they can
sometimes be tricky to install and maintain. A web wallet or hosted wallet
is one that is hosted by a third party. They are often much easier to
use, but you have to trust the provider to maintain high levels of
security to protect your coins. There are four main wallets that we
recommend for beginners.
Coinbase
Coinbase
is a web wallet with a simple design and a number of very useful
features that make it excellent for beginners. You can send and receive
bitcoins via email and buy and sell bitcoins directly from Coinbase. A
full-featured Android app enables access to all account functions on the
go. Coinbase’s founders have a proven startup track record and have
raised money from very prominent venture capitalists. This gives
Coinbase a level of legitimacy unparalleled in the Bitcoin space. They
are also one of the only large Bitcoin companies to never suffer a major
hack. Click here to sign up.
Electrum
Electrum
is a software wallet that enables you to set up a strong level of
security very quickly. During the simple installation process, you are
given a twelve word phrase that will allow you to recover all of your
bitcoins in the event that your computer fails. Your wallet is also
encrypted by default which helps protect your coins against hackers.
Electrum is available for Windows, OSX, and Linux and is our recommended
software wallet for beginners. Click here to download the right version for your operating system.
Bitcoin Wallet for Android and Blackberry
For those looking for mobility and security, we recommend the
simply-titled Bitcoin Wallet mobile app. There is a version for both Android and BlackBerry OS.
It is a software wallet, so you retain complete control over your
bitcoins. It also works well with QR codes and NFC, making transferring
coins to someone else’s phone easier than writing a check. Be sure to
backup your wallet (with the included “Backup Wallet” feature) or you
risk losing all your coins the next time you get too close to a pool.
Blockchain.info
One of the quickest and easiest ways to get a Bitcoin wallet is to simply go to Blockchain.info and
fill out their brief requirements. Blockchain.info is another web
wallet like Coinbase and provides a simple setup and mobile access to
your account via their Android app. They also provide a number of other
useful services to the Bitcoin community.
Other Wallets
We also recommend a few other wallets, but not for the beginning Bitcoin user. If you are up for more of a challenge, Armory is a good choice for those requiring the highest possible security, and the original Bitcoin-Qt client is also trusted and worth learning how to use.
Next Steps
Now that you have a wallet set up, it’s time to learn how to get some bitcoins
call +234 8134055653.
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