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How to have a Bitcoin wallet

  • Thread starter Thread starter Alexandoy
  • Start date Start date
Alexandoy said:
With my plans of getting into Bitcoin I think I need to have a Bitcoin wallet first. Now I need your help to suggest how to have a wallet - is it a choice of website? Do I need to deposit an amount for the initial balance or is the wallet okay with a zero balance? I am not keen on trading yet or on buying Bitcoin for now. My intention is to use the wallet for part of my online earnings just to get a feel of how the Bitcoin and wallet work. Any suggestions will be appreciated. I may also need more information about the Bitcoin wallet.
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The best wallet to have is offline wallet. Most bloggers do same that the most secured wallet is hardware wallet. And that is not true. Recently ledger that is hardware wallet got hacked. So the most secured is coinomi wallet using passcode
 
nwankwovivian247 said:
How do I create a bitcoin wallet?
  1. Go to the App store (iOS) or Google Play store (Android).
  2. Search and download Coinomi.
  3. Open the app and write down your 24-words recovery phrase. ...
  4. Set a strong password.
  5. Add bitcoin to your wallet.
  6. Use your receiving address to receive bitcoin.
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There are many ways in which you can use to have bitcoin wallet , and it really depend on your choice of crypto currency app that you wish to have, I am currently using luno wallet account.
 
I would recommend when chosing a wallet you choose a wallet with an exchange platform, because it is easy to trade with those wallet than the private coin wallet.
Choose Binance or BitMart, they have multiple wallets and you can confidently trade your currency with them
 
You can make a choice of wallet between binance, trust wallet, coinbase, Luno and BitMart.
They all have their difference, but I would recommend you use binance or BitMart has they charge low fees for transportation
 
The simplest way to have a Bitcoin wallet in your smartphone is to install "Trust wallet" , it's a genuine bitcoin and other crypto coins wallet (multi crypto wallet) and doesn't ask for any email or phone number to sign up. All it requires is to have your recovery phrase safe somewhere and a password set to secure the wallet.
 
Having a cryptocurrency exchanges is actually the best because with exchanges you have an opportunity to buy different type of cryptocurrency of your choice and in that case I will advise that you download binance on Play store.
 
It depends on the type of cryptocurrency you are going to save in your cryptocurrency wallet there are some cryptocurrency wallet that allows you to trade crypto-currencies like bitcoins and ethereum and there are some cryptocurrency wallet that is mainly for saving of bitcoins that's all.
 
Alexandoy said:
With my plans of getting into Bitcoin I think I need to have a Bitcoin wallet first. Now I need your help to suggest how to have a wallet - is it a choice of website? Do I need to deposit an amount for the initial balance or is the wallet okay with a zero balance? I am not keen on trading yet or on buying Bitcoin for now. My intention is to use the wallet for part of my online earnings just to get a feel of how the Bitcoin and wallet work. Any suggestions will be appreciated. I may also need more information about the Bitcoin wallet.
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Most of the crypto wallets have a zero feature, you can use it without the fear of having a minimum of some certain amount. There are great wallets such as coin base, binance etc which are safe.
 
I think this is a question that can be answered by even kids nowadays. A lot of wallet providers abound though I'll advise you choose the ones that facilitate or have p2p trading so you don't spend much in gas fees when transacting with them.
 
Hi, you can use a crypto wallet without any balance or money. Just signup with coinbase or Gemini. They would generate you a digital wallet. You can use that wallet address to send and receive crypto coins and tokens. You can use this wallet to hold other coins too such as Ethereum, BAT, etc.,
 
Getting a crypto wallet is not difficult, just go to the app store on your device and search for crypto wallets a list of them will appear which you can choose from, download and install then go through the process of registering with the platform do you can have full access to all their features.
 
You should know that the transaction fee in bitcoins is likely to go up as the price of bitcoins increases , sending out $10 worth of bitcoins will require almost $10 worth of transaction fee . That is why cryptocurrency like bitcoins are supposed to be stored in exchanges.
 
Having a Bitcoin wallet is not a big deal, you can have it if in a short period of time, you can create a lot of them but the problem we are having is that it has a high transaction fee.
 
Alexandoy said:
With my plans of getting into Bitcoin I think I need to have a Bitcoin wallet first. Now I need your help to suggest how to have a wallet - is it a choice of website? Do I need to deposit an amount for the initial balance or is the wallet okay with a zero balance? I am not keen on trading yet or on buying Bitcoin for now. My intention is to use the wallet for part of my online earnings just to get a feel of how the Bitcoin and wallet work. Any suggestions will be appreciated. I may also need more information about the Bitcoin wallet.
Click to expand...
It's very easy to create a bitcoin wallet you can watch video tutorials on YouTube they are well explained or you can do it yourself don't forget to set a very good password to your wallet and you should be good
 
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