How to Set up a Bitcoin Wallet
We’re created several projects about Cryptocurrencies and you probably might have earned already some BitCoins or any other cryptocurrency. In this article we will explain to you how you can get those cryptocurrencies into a wallet that you own. We will also explain how wallets work and how you can eventually withdraw an actual currency like Dollars or Euro’s.
How to Set up a Bitcoin Wallet or other Cryptocurrency wallet?
There are three types of wallets that you can use. A software wallet, hardware wallet or a paper wallet. The video will show a detailed explanation of all the types of wallets. We’re using two kinds of wallets though. One is a mobile phone wallet with the name: BRD Wallet. The other wallet we’re using is Electrum which is wallet running on a PC and has an Android app as well. We use this wallet for bigger amounts of money for trading purposes.
Before considering installing either of the two wallets you might want to consider first which cryptocurrency you eventually want to withdraw. you might want to set up a BitCoin wallet but this wallet will only accept BitCoins where BRD Wallet accepts many types of crypto coins including BitCoins. In many cases, you can convert other cryptocurrencies to BitCoins like how we explained at Coinpot.
How can you withdraw actual money instead of Cryptocurrency?
There’s always more than one way to withdraw a cryptocurrency. We will feature Bitonic in our article because we used this company to transfer coins to our Electrum wallet. When we transferred quite a big amount of money, it took quite some time before the funds were transferred to our wallet. Bitonic first needed some confirmation before the funds are transferred. So follow the procedure that will be sent to your email.
Bitonic also provides the option to deposit bitcoins so you can withdraw them from your bank account. We haven’t done so yet so we will feature that option in a future post.
What to do next?
You might be overwhelmed with the explanation of the video above about all the different types of bitcoin wallets. We suggest you just start off with: BRD Wallet. This wallet contains more types of cryptocurrencies and its easy to setup. (like a Facebook account). No need to think about all the explanations from the video when you’re not interested in it. You can just follow the projects below and send the money to the BRD Wallet.
Earn money with CryptoCurrency
Please see below a list of projects that we have tried to earn free cryptocurrencies. We will show you the strategy we have used to earn money with cryptocurrency and give you opinions about this strategy. Please feel free to share your strategy.