The financial world today is changing faster than we can follow. Crypto-currencies are slowly but surely taking over. It’s nearly impossible to find a person that doesn’t have at least one crypto wallet. However, there is one crypto asset that stands above all the rest. It was the first one and it is the one that holds the highest value at the moment. We are talking about Bitcoin and this article will explain “how to get a bitcoin wallet”, among other things.
This is a topic that’s been on everyone’s lips in the last couple of years. Most people have heard about bitcoin mining and how they can be used to pay for products or services. However, most people don’t know what they need to do to be able to use their bitcoins. That’s why we have taken it upon ourselves to explain what a bitcoin wallet is and how you can use it. As always, more information about bitcoin can be found right HERE. Additionally, check our Bitcoin Information blog section for more info and crypto-currency news.
What is a Bitcoin Wallet?
Before explaining “How to get a bitcoin wallet”, first we must share some thoughts on what a bitcoin wallet actually is. A bitcoin wallet is similar to a digital bank account. Here you can send, receive, and manage your bitcoin. Imagine the BTC wallet as any other e-wallet like PayPay, Skrill, etc. You buy bitcoins and they get sent to your wallet. From there, you can send them to someone else or spend them. All these options will be available on the wallet. When you send the crypto coins, they will arrive at the other person’s wallet. As you can see, everything is pretty simple and straightforward.
If you check the web you will realize that there is a wide variety of digital wallets, and all have the same purpose. Manage cryptocurrencies in the simplest way possible. However, before doing that, make sure that the wallet is compatible with the crypto currency you want to store on it. In our case, we are talking about a Bitcoin wallet. It’s common sense that if you get a bitcoin wallet that you will want to send/receive bitcoins through it. For that reason, you will need a digital wallet that’s compatible with BTC.
How to Get a Bitcoin Wallet?
Which wallet suits you best depends on several factors, such as what your buying needs are, and what you would like to use the crypto-currency for. When you enter the crypto world as a beginner, an online wallet is the easiest and most user-friendly way to manage your digital assets. Creating a Bitcoin wallet is very simple; what’s more important is what do you need the wallet for. There are roughly three types of wallets: mobile wallets, software wallets, and hardware wallets. So, what type of wallet do you need? This question is easily answered, depending on your crypto needs.
For instance, are you new or do you have a lot of experience with bitcoin? Are you going to buy a large amount of crypto assets or just a small amount? Experienced traders use hardware wallets because they are the safest, even though you need to spend money on purchasing the device. Since we are not talking about trading with bitcoin here but rather using it to fund your betting/casino account, we will spend more time on explaining mobile and software wallets. In most cases, these wallets are free and very easy to set up. The mobile one means you will be walking around with your BTC wallet while the software one can be set up on your home PC or laptop.
Setting up your bitcoin wallet
There are many online platforms where you can get a crypto wallet. They are similar; however, each offers something unique. Once you figure out exactly what you need, you will know which platform is the best for you. For instance, the BRD wallet is a mobile one and is probably the simplest one out there. Trezor, on the other hand, is lauded for it’s great security. However, Coinbase is the wallet that’s considered the best one overall. Here are the few steps you need to follow so you can create a bitcoin wallet.
Regardless of which platform you picked, the first thing you need to do is register on their website. The website will usually ask you for a name, surname, and an e-mail address. You will have to enter a password as well. Last but not least, you will have to accept the terms and conditions and then click on the confirmation e-mail that the website will send to you. Once all of that is done, you will have your account.
Get a Bitcoin Address
Once you register, you will be the proud owner of a virtual wallet. The next step is getting a bitcoin address. You just have to enter your virtual wallet with your email and your password. Once you have the wallet open click on the “Accounts” tab (the name of the tab may change slightly depending on the platform you have chosen). Usually, there will be several options and you need to pick the “BTC Wallet” option and then “Generate Bitcoin address”. They will then give you a code which you need to copy. This code will be your bitcoin address. This answers the question of “how to get a bitcoin wallet? However, there are several other things you need to know about.
Once you have the address, you can easily send and receive bitcoin. To receive money, you need to give your receiving address from your wallet to the person who will be sending you bitcoins, or to the place where you are purchasing bitcoins. On the other hand, to send digital currencies, the process is even simpler. All you need to do is to click “send” and then enter the bitcoin address of the person who will be receiving the bitcoin.
Secure The Bitcoin Wallet
Last but not least, you have to secure your account. Different platforms offer various ways to do that. However, the most used way is attaching your phone number to the account. Once you do that, every time you log in to your wallet, you will get a text message. So, if someone else tries to get in your account, the text message will notify you and you can take appropriate measures to protect your account.
We hope that all your questions about How to Get a Bitcoin Wallet are answered. For more bitcoin topics and guides, check our Bitcoin Dictionary section. Now that your digital wallet is active, you can use it for just about anything. The Coinbet24 bitcoin sports betting & online casino gives you an opportunity to place bitcoin bets. You can use the bitcoin wallet to make bets at anytime.