The Simple Guide to Create a Bitcoin Address
Cryptocurrencies are well-known to everyone: people earn and lose billions of dollars with crypto. Every person who uses the Internet, at least ones, has the idea to buy one or another coin. First of all, of course, this is Bitcoin, “digital oil”. But in order to buy, exchange, sell a cryptocurrency, you need to understand the principle of its work and find out how and where to store it. But in the beginning, you must create your wallet and know your address. Stop! You don’t know how to do it? CopyRage will teach you like A-B-C. Come on and do it!
Why do you need a Bitcoin wallet?
You decided to become the owner of the cryptocurrency. To do this, you can choose completely different solutions:
- buy coins on specialized exchanges;
- buy bitcoins from another user;
- go mining using a computer or mining equipment;
- go trading;
- go betting.
Whichever option you choose, you need to start by creating a BTC storage, because only this way you can store cryptocurrency. Each wallet has its own address (like a plastic card has its own individual number).
Digital media repositories are of several types:
- hardware (as an external flash drive)
- online (or web wallets such as Jaxx);
- in the form of applications (mobile) or PC programs (local);
There are many platforms on the Internet for creating bitcoin wallets, and we strongly recommend you to familiarize yourself with the advantages and disadvantages of each of their types. In order to choose the most suitable for you, we recommend you to look at mobile and local storage approved by bitcoin.org.
What is a wallet address?
The bitcoin address is an alphanumeric code that is automatically assigned to your wallet. As with bank cards, this number is unique and does not repeat with other owners. Anyone can transfer cryptocurrency to you, but cannot get into your wallet. An individual number consists of a set of letters and numbers (up to 34 characters) in random order and case, so it is impossible to pick it up at random.
Please note that all wallet addresses begin with the numbers “1” or “3”. The address itself (or, as it is also called, the identifier) does not contain any information about the user, so no one will be able to find out anything about you, even if you have the number of your crypto storage.
Do not assume that the private key and address are the same. A private key is like the key to your doors, and the address is your own index, house, and apartment number.
How to find out your address?
- The function of finding your address is one of the main and easiest in any crypto wallet. If you are familiar with electronic wallets (such as PayPal, Payoneer, etc.), you can easily find the identifier of the registered wallet.
- If you created a “paper” version, then you only need to follow the instructions and print the data with your wallet number. There are many paper wallets (such as bitaddress.org or walletgenerator.net);
- In an online, local or mobile wallet, you can see the identifier through the “settings” menu and the “settings of your address” submenu. The interface of the application or program may change, as well as the name of these tabs, but the algorithm is approximately the same. Next, you need to find the tab “manage your addresses”. In this tab, all identifiers will be fixed attached to the wallet. You just have to copy them;
- Another option for applications or online wallets is to find the “recharge BTC” button, and then copy the number in the line “address to replenish bitcoin”. Perhaps, command may look different, but the essence will remain the same.
- If you want to buy Bitcoin cryptocurrency in the Telegram messenger, you need to find the “deposit” command through the wallet, and then copy the specified address.
We recommend you to copy the wallet ID to several secure sources on different devices. This is necessary to not make a mistake during the input and confirmation of transactions. Any mistake will lead to the fact that the money will not be credited to the account, and it will be impossible to return it to the owner — all transactions with BTC (as well as other decentralized cryptocurrencies) are irreversible. Therefore, we recommend copying the address using the standard “copy-paste” command, or using the “copy address” pop-up functions. You can create a new identifier for each transaction — this will not change your private key and account. All your “old” addresses will still pass funds into your wallet.
Also, we do not recommend you to constantly keep money on exchange wallets — they often become the target of hacks and your funds are at risk, even if you change the identifier for each transaction.
By the way, if you want to know the balance of any wallet by its identifier, then use any blockchain explorer that can be easily found on the Internet. This information is open and in some cases really useful. One of the most respected guides is blockchain.com.
Again about security
Finishing the article, we would like to return to the topic of safety of funds again. Any transactions are fraught with risks, so we strongly recommend you to not share your wallet’s private key with anyone and store it on local media and do not carry it with you. We advise you to use mobile applications: you will always have access to wallets and you can copy a public number any time.
Following all our tips and tricks will help you feel confident among cryptocurrencies and fully control your wallets. It’s very simple. Right?
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