How to Create a Free Bitcoin Wallet?
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A Bitcoin wallet, also known as a digital wallet, is basically a software program that allows you to store your Bitcoin reserves on your desktop. In simpler words, it’s a virtual wallet to manage and keep track of your virtual currency.
A bitcoin wallet allows enhanced security as you send and receive Bitcoin payments. Much like your physical wallet, it provides a strong sense of security, transparency and detailed information about your money exchanges, purchases and savings in your wallet. However, unlike your physical wallet, a Bitcoin wallet cannot be lost.
In recent years, Bitcoin wallets have undergone striking innovations and improvements, which have enhanced security measures, making it increasingly difficult for hackers and scammers to steal your virtual funds. What’s more, your digital wallet comes with a key that allows complete privacy, much like a password.
Now, let’s take a look at how you can create a free Bitcoin Wallet:
Creating a Free Bitcoin Wallet
There are more than 15 different types of free Bitcoin desktop wallets available in the market, and in this article, we will use Coinbase, one of the most reliable and versatile digital wallets out there.
Here’s a step-by-step tutorial:
- Log onto the Coinbase Website and click on ‘Download’ in the menu to install the wallet.
- Choose the right operating system and installation version. If you seek a simple process, just go ahead with the easy installation process.
- Once the wallet installer has been downloaded, run the installation process, and the wallet should arrive on your desktop in no time.
- Time to set up your Bitcoin wallet by selecting the manual serve you want to connect with. If you don’t have a manual server, select ‘Random Servers’.
- Choose a name for your wallet, and personalize other elements that you want to add to your wallet.
- Undertake the two-factor authentication to enhance security measures and safeguard your Bitcoin wallet against hacking and computer viruses.
- Do you want to create two different wallets that can be operated through two different desktops and by two different individuals? You can select a multi-signature wallet with the same address.
- You will be required to create a seed or use an existing one. The screen will reveal 12 randomly displayed words that you need to store in a safe online or offline library or resource, and avoid sharing it with anyone.
- Once you’ve written down the seed, verify it and proceed towards creating your password.
It’s really that simple! You can create your free Bitcoin wallet with a few quick clicks. However, individuals who choose a two-factor authentication typically require the Google authentication smartphone app to enter the provided key or scan a QR code.