How to Create a Bitcoin Wallet? That’s a very common question for people who are entering the crypto market for the very first time. After all, a virtual wallet is the front door of the crypto market.
Without a wallet, you simply cannot make transactions, exchange between different kinds of crypto assets or just store your money. In short: no wallet, no crypto.
But don’t worry! It’s very, very easy to get one.
At the beginning, the cryptocurrency market was only for geeks and cryptography fanatics. Back then, there was only Bitcoin, and storing it required some knowledge of informatics or coding.
But ten years since the beginning of the Bitcoin Era, many things have changed. There are literally hundreds of crypto coins on the market. Similarly, there are dozens of wallets, and almost all of them are easy to use.
After all, crypto is not just for a select few. It’s for everybody!
Most Bitcoin wallets are digital, and can be used on a computer, smartphone, or even the cloud – they are known as hot wallets. They are very similar to other kinds of e-wallets, like PayPal, Skrill or Neteller. Users who are accustomed to internet banking won’t have any difficulties using a crypto wallet.
Obviously, the biggest difference is that you don’t store fiat money (dollar, euro, real, peso, etc) in it – but crypto.
There are also physical wallets, which are known as cold wallets. They are like a USB flash drive with a password you can insert into any computer that has a fitting port and then carry out transactions.
The Cripto InterCambio blog will explain you How to Create a Bitcoin Wallet to help you choose the option that fits you best. Let’s take a look!
How to Create a Bitcoin Wallet – Where to Start?
Cold Wallets x Hot Wallets
Obviously, the first thing you should do is pick which type of Bitcoin wallet you want. However, before choosing one, there are some key aspects that you should consider.
Ask yourself how you are going to use Bitcoin.
If you intend to store large amounts of Bitcoin, or want a long-term investment, you should go for a cold wallet. Your coins will be stored in a device without connection to the Internet, making it impossible to hack.
The only problem with cold wallets is their price. Let us a give an example: Trezor is one of the most well-known cold wallets in the market. The cheapest model – Trezor ONE – costs 59 USD. This does not seem like much if you intend to invest large sums of crypto, but not all users can afford it.
If you intend to buy Bitcoin to make everyday transactions, or invest in the short-term, you can try a hot wallet. Most of them are free, and you can access them from your smartphone, computer, or the cloud. Moreover, they are more practical when it comes to making transactions.
We strongly recommend you not to store all your funds on the same hot wallet. You can have two or three wallets, so you won’t lose all your money if somebody gets your password.
Do you intend to invest only in Bitcoin? Or do you want to invest in other cryptocurrencies?
Nowadays, most wallets support more than one kind of crypto, and some of them permit you to store literally hundreds of different digital assets.
And that’s excellent. Bitcoin is great, but a diverse portfolio is even better. There are good coins in the market, offering some features that Bitcoin does not – more anonymity, faster transactions, smart contracts and so on.
Due to this fact, in the mid-term these other coins tend to grow in price. Having a multi-crypto wallet is the best way to easily invest in other kinds of crypto – the so-called Altcoins.
There are many great wallets on the market, so choosing the best one is not an easy task. Some wallets offer exclusive features to stand out. Let’s check out some of them:
Security. All wallets have a password, but not all of them offer two-factor authentication (2FA) – a security method where you have to confirm your login through an email, SMS or even a phone call. Choosing a wallet with 2FA will give you more confidence when storing your funds.
News. The crypto market is volatile, and very sensitive to economics and politics news. Moreover, things change very quickly in this market, and being up-to-date with the latest updates is an effective way to succeed. Bearing this in mind, some wallets come with a news section, so you don’t have to search for them by yourself.
Buy Crypto. Some wallets offer the possibility to buy crypto within their interface, usually with a credit card. Many of themalso offer the possibility to exchange from crypto to crypto. But be careful! Usually, prices in wallets are higher than on traditional crypto exchanges.
How to Create a Bitcoin Wallet – Conclusion
Now you know how to create a bitcoin wallet. After considering all these factors and making a choice, just download a wallet if it’s a hot one, or buy it if it’s a cold one. We wrote an article listing the top 10 Bitcoin Wallets to help you to decide which one you prefer. With all this in mind, go on and buy Bitcoin – or any other cryptocurrency – and start your journey into the cryptoworld.
If you want to exchange Bitcoin or any altcoin, you can count on Cripto InterCambio. We give access to over one hundred kinds of crypto, with anonymity, velocity and no fees. See you!
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