Opening of Your First Cryptocurrency Wallet

Welcome back!

   

I'm here today to show you how to open a wallet for cryptocurrencies. There are several types of wallets that can be opened. Some, like the one I am going to show you how to open today, are online and allow you to transfer coins to other wallets on the block-chain or transfer to merchants and those individuals accepting the various coins as payment for goods and services. They also allow you to have cryptocurrencies transferred to you.

If you followed our post on getting started collecting bitcoin and other cryptocurrencies from faucets dripping on the internet, then you have a few fractions of various cryptos sitting in your Coinpot account. Congratulation on being part of the block-chain revolution.  Now its time to open an account that you can transfer your drippings into.

Here is the step by step process for opening a wallet at Coinbase.com, an online cryptobank that has wallet accounts for Bitcoin, Litecoin, and Ethereum:

Step 1: Click HERE to go to Coinbase.com. (clicking the link will open the page in another window)

Step 2: Enter your email address and click the "Get Started" button.

Step 3: Enter your name, certify that you are not a robot and that you are 18 or older, and click "Create Account" to set up your account.

Step 4: Check the email address you provided for a verification email from Coinbase.com. Once you receive it, open it, and click on the "Verify Email Address" button. (This opens a new coinbase.com window, so you can close the old one.)

Step 5: Select individual account and click "Next".

Step 6: Select your country and enter your phone number and click "Next". (this is for 2-step verification process)

Step 7: You will receive a text that includes a 7-digit number. enter that in the box and click "Verify phone number"

Step 8: A confirmation text will be sent to the mobile device, and the Coinbase.com dashboard will appear.

Step 9: Enter a payment option to complete your account and have the ability to transfer or buy coins. You can use a bank account or credit card (I chose Credit Card, as it was the quicker option and this is a deposit account I am setting up.) You can decide later if you want to fund your account with currency.

Step 10: Verify your identity and you are ready to start accepting coins from your Coinpot account.

Look for my next post on how to transfer from your Coinpot account to your Coinbase account.

Right now, if you deposit any amount, we both get $10 in bitcoin. Up to you, but hey, more free money.

Happy dripping!