wallet guide*
How do I create 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 bitcoins for. When you’ve just started buying bitcoin, an online wallet is the easiest and most user-friendly way to manage them. A much used free wallet is Coinomi*. This wallet also supports other coins. You set up a Coinomi wallet by following these steps:
- Go to the App store (iOS) or Google Play store (Android).
- Search and download Coinomi.
- Open the app and write down your 24-words recovery phrase. Very important, this will be the back up to your wallet!
- Set a strong password
- Add bitcoin to your wallet
- Use your receiving address to receive bitcoin
What’s a bitcoin receiving address?
A receiving address is similar to your bank account number. Each bitcoin wallet has a unique bitcoin receiving address. You can share this bitcoin address with others to let them know how to send coins to your wallet.
A BTC address is alphanumeric and always starts with a 1 or a 3. This is an example of a receiving address: 1EeP1oxSQZNDcz1sBVfuZV8zgiGQqCGUxo. A common question is how to get a BTC address. Each wallet automatically generates a bitcoin address. If you’ve just created a new wallet, then you have a unique bitcoin address right away. When you enter this address on our order form, we’ll know where to send the coins to.
A new bitcoin address is not only generated once you’ve created a new wallet, but after each transaction as well. And for a good reason: when your address regularly changes, your privacy on the network is better protected.
Would you like to use your old bitcoin address again? No problem! Each address on which you’ve previously received bitcoin, can be used again. It doesn’t matter if someone sends coins to your most recent address or to your oldest address- the bitcoins will arrive in the same wallet. In most wallets all generated addresses can be found in the transaction history.
Please note!
For receiving as well as sending bitcoin, always copy and paste the receiving address. This lowers the risk of making a mistake. Don’t write or type the address. All cryptocurrency transactions are irreversible; once the coins have been sent, there’s no way of getting them back.
A BTC address is alphanumeric and always starts with a 1 or a 3. This is an example of a receiving address: 1EeP1oxSQZNDcz1sBVfuZV8zgiGQqCGUxo. A common question is how to get a BTC address. Each wallet automatically generates a bitcoin address. If you’ve just created a new wallet, then you have a unique bitcoin address right away. When you enter this address on our order form, we’ll know where to send the coins to.
A new bitcoin address is not only generated once you’ve created a new wallet, but after each transaction as well. And for a good reason: when your address regularly changes, your privacy on the network is better protected.
Would you like to use your old bitcoin address again? No problem! Each address on which you’ve previously received bitcoin, can be used again. It doesn’t matter if someone sends coins to your most recent address or to your oldest address- the bitcoins will arrive in the same wallet. In most wallets all generated addresses can be found in the transaction history.
Please note!
For receiving as well as sending bitcoin, always copy and paste the receiving address. This lowers the risk of making a mistake. Don’t write or type the address. All cryptocurrency transactions are irreversible; once the coins have been sent, there’s no way of getting them back.
How do I receive or send bitcoin?
When buying or receiving bitcoin, you use the receiving address from your wallet. We can’t emphasise it enough: copy and paste this address, do not write or type it. A bitcoin receiving address is similar to your personal bank account number on which you receive your bitcoin. But where do you find your bitcoin receiving address?
The receiving address
First, log into your wallet. In most wallets, the receiving address can be found under the button ‘Receive’. There are wallets in which a bitcoin receiving address will automatically change once it has been used for a transaction. This is in consideration of your privacy. But don’t worry: ‘old’ receiving addresses will always stay valid and linked to your wallet.
Receiving
For receiving bitcoin in your wallet, copy the receiving address from your wallet, and paste it on the BTC Direct order form. This way we’ll know which wallet to send the coins to.
Sending
Sending bitcoin is just as easy! Click on ‘Send’ in your wallet. Enter the receiving address you’ve copied from the recipient. Fill in how much you would like to send, and confirm.
The receiving address
First, log into your wallet. In most wallets, the receiving address can be found under the button ‘Receive’. There are wallets in which a bitcoin receiving address will automatically change once it has been used for a transaction. This is in consideration of your privacy. But don’t worry: ‘old’ receiving addresses will always stay valid and linked to your wallet.
Receiving
For receiving bitcoin in your wallet, copy the receiving address from your wallet, and paste it on the BTC Direct order form. This way we’ll know which wallet to send the coins to.
Sending
Sending bitcoin is just as easy! Click on ‘Send’ in your wallet. Enter the receiving address you’ve copied from the recipient. Fill in how much you would like to send, and confirm.
*This page is for informational purposes only and it doesn't affect the quality of the services offered by Hercules-Exchange
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Source: www.btcdirect.eu
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