Before creating your first Bitcoin wallet, we heavily recommend this first; for you to have an idea of what the wallet types are, and what their advantages and disadvantages are.
P.S.: If you’re new to Bitcoin, maybe you’ve heard about Bitcoin from your friends, or because of certain companies like Tesla and Microstrategy buying bitcoin, make sure you do your research first and know what Bitcoin is first before putting some money in.
What you’re going to need
- a smartphone
- a pen
- a piece of paper
- On your mobile phone, open https://bluewallet.io/ and click on the appropriate app link (App store if you’re using an iPhone, Google Play if you’re using an Android phone).
- Download and install the BlueWallet app as you would with any other app.
Creating your Bitcoin wallet
- Open the BlueWallet app
- On the main screen, tap on the “Add a wallet” option.
- Add a name for your first Bitcoin wallet, tap on the “Bitcoin” option, then tap on “Create”.
- 12 words would then be displayed. Neatly and accurately write those words down on your piece of paper. The 12 words will serve as your wallet backup in case you lose or break your phone.
- Tap on the “OK, I wrote this down.” button.
- Congratulations, you now have your first Bitcoin wallet.
Now that you have a Bitcoin wallet, you need to make sure that you don’t lose your coins one way or the other. Always remember, once a Bitcoin transaction is confirmed, it’s irreversible. You won’t be able to call someone to help you with your lost money, like how you can do with your local bank.
And the only way to not get your funds stolen is to educate yourself with the common scams that online criminals are using: The Cryptocurrency Scambook