You have been hearing bitcoin and blockchain news for some time now, but you don’t know much about creating your wallet or what is involved. This article will go over all the steps you need to create a secure Bitcoin Wallet. Bitcoin wallets are an essential element of any crypto-currency transaction, specifically for its users’ safety and security. Once you have your wallet set up, there are two different ways to use it; by having one or multiple identities and holding various cryptocurrencies!
Step One: Create (or use) a laptop or computer that is free of viruses and malware
This is one of the first steps you must take when creating a new Bitcoin Wallet. The reason for this is that viruses and malware are usually programmed to do some illegal activity when allowed to gain access to your computer. Since this is the case, hackers will often target computers with weak firewalls and malware protection, meaning they have a much greater chance of getting into your computer. The only way to stay safe is to either instantly install a good anti-virus program such as AVG or Norton and keep them updated at all times. Always stick with the Google Drive method (however, if your security protocol on your computer isn’t strong enough, the virus may be able to get past it). It’s also essential to make sure you don’t download anything from file-sharing sites (Mega, Mediafire, etc.) since these places are usually home to trojans and viruses.
Step Two: Download Bitcoin Wallet
You will need to download a digital wallet and install it on your computer. This is a straightforward process and can be done by following the instructions above.
Step Three: Input a strong password
Another reasonably necessary step when creating your wallet is to input a good password. Since these are credentials you need to complete your transactions, you must take great care when choosing them. The first and most important thing to remember is that the password you input must be of a high-security standard. Next, make sure that it is mnemonic (meaning you can remember it by repeating it), as this word should be chosen very carefully as each character is crucial to creating your new wallet.
Step Four: Save your seed phrase and print it out or store it somewhere safe.
Once you have input your information and created a new wallet, you will need to take additional steps to ensure its safety. The first is to create a strong password; this will be used for all the passwords you use when accessing the wallet over time. Another wallet aspect that must be secured is your seed phrase, which is the password you wrote down. This phrase should be written down to ensure its safety and that you can easily access it at a later time. You can also choose to print out or store this information in some other way if you wish.
Step Five: Press the “I’ve written down my seed” button at the top of the window.
Once you have completed everything previously mentioned, it is time to save your new wallet by inputting a password, saving your seed phrase, and printing it out for safekeeping or storing somewhere. Once completed, press the “I’ve written down my seed” button at the top of the window. This will, in turn, bring up a short security dialogue box that will give it access to create a secure Bitcoin Wallet.
Step Six: Press the “View Private Key” button at the top of the window.
Once you have fully set up your Bitcoin client wallet and have inputted a password for it, you can now access your account by pressing “View Private Key” at the top of the window. This will come up with a long list of text that will contain the encrypted passwords (and thus addresses) to send and receive funds using this wallet. Make sure that you can read these properly before moving forward.
Section Seven: Click encrypt wallet button (a new window will open). Note the string of characters that is generated in this step. If you forget your password, you can input these to re-access your account.
Once all the information is input and saved, it is time to start creating transactions! You will need to take the information you just wrote down and input it into the Bitcoin client wallet under “view private key” by clicking on your newly created list of encrypted passwords. Do not panic if some of them have spaces (this can be fixed). Re-enter the password, and the client will recognize it.
The ‘decode’ button is highly recommended when sending funds from an empty wallet because it will fix up any spelling or space issues you may have made.
This process should continue until all of your passwords are entered correctly, and you can send and receive funds in your new wallet. At this point, you are ready to use your create a secure Bitcoin Wallet!
Section Eight: Send bitcoin to or receive bitcoin into your new Bitcoin client (by clicking on + and – on the top left of the window)
To send funds from an empty wallet to a different address:
Click on the add/subtract recipient tab at the top of the screen.
Enter your recipient’s address (the one you are sending funds to) and then input the amount of bitcoin you wish to send.
Once you have finished, click “send.”
To receive funds from an empty wallet into a different one, the process is the same as sending them. Input your receiving address into the “Add/subtract recipients” tab on the top of your screen, then input how much you wish to send (this amount will be used as your balance). After that, click “receive” and enter the correct amount.