Topic: set up a wallet (Read 79 times)
Its funny that you are a Newbie on Junior member level. Anyway there are several videos on YouTube that can guide you step by step on how to open a wallet and even tell you the best wallets you should open.
Hardware wallet is already a lot to work on to for someone new, learn more of what you can do with a wallet. Just try the the desktop wallet like electrum, its faster than the core and stick with it for awhile and feel it. Sooner you can decide whether to stick with it to buy those Trezor or Ledger Nano. Bare in mind that this is for BTC wallets.
I recommend direct using hardware wallet if you looking for long term investment, hardware wallet not expensive and worth it, no need to worried about exchange hacked or losing private key, google search Trezor or Ledger Nano S 
I usually use blockchain.info wallet to contain bitcoin. It can contain both BTC and ETH, as well as applications for phones including Android and IOS, which you can find here: https://support.blockchain.com/hc/en-us/articles/210896523-Creating-Your-New-Wallet-
How do I set up a wallet as a beginner?
I read the beginner FAQ, but I am so confused on many points.
I wanna be able to receive bitcoins, I'm not sure if it would be safest to get my own wallet with an app, or use a trusted 3rd party website?
It would be preferably if it could be accessed via phone via an app or so.
Would really appreciate help! Mainly gonna be receiving bitcoins and using it for shopping.
Thanks in advance!
for starters you can use blockchain as your wallet, because I also use blockchain when first recognizing bitcoin, for how to register it you can search it in google I read the beginner FAQ, but I am so confused on many points.
I wanna be able to receive bitcoins, I'm not sure if it would be safest to get my own wallet with an app, or use a trusted 3rd party website?
It would be preferably if it could be accessed via phone via an app or so.
Would really appreciate help! Mainly gonna be receiving bitcoins and using it for shopping.
Thanks in advance!
blockchain also has android apps, so you can easily send and receive bitcoin via android app
A phone is about a million times easier to hack and steal from than Coinbase. If you just want to HODL, by all means, use a cold wallet like Electrum. But please don't use a phone.
The thing is, you're gonna have to buy your coins somewhere. Most people start off buying at Coinbase. Because it's popular, well documented, trusted and regulated in the US. And once you've bought at Coinbase or wherever, you will need to transfer the bitcoin to your wallet (of you don't want to keep it at Coinbase), which will incur fees. Which I see as a waste. If you are looking to invest more than a couple thousand Euros or Pounds, just get a hardware wallet. If not, my advice is leave it on Coinbase or transfer it to GDAX for free and sell when there's a spike or just use GDAX to buy without fees which is also pretty neat.
The thing is, you're gonna have to buy your coins somewhere. Most people start off buying at Coinbase. Because it's popular, well documented, trusted and regulated in the US. And once you've bought at Coinbase or wherever, you will need to transfer the bitcoin to your wallet (of you don't want to keep it at Coinbase), which will incur fees. Which I see as a waste. If you are looking to invest more than a couple thousand Euros or Pounds, just get a hardware wallet. If not, my advice is leave it on Coinbase or transfer it to GDAX for free and sell when there's a spike or just use GDAX to buy without fees which is also pretty neat.
If you store it on Coinbase then you don’t get the key. That means if Coinbase gets hacked, or if they have a rogue employee, then your bitcoins could be stolen. My advice would be to use a wallet such as Bread on your phone, as that gives you full control of your key. Write down the seed (12 words) and keep them in a very safe place and use all the security measures of your phone and Bread to protect your key. Don’t log in to it on public unsecured wifi or anything.
Coin base is a hosted wallet:
https://support.coinbase.com/customer/portal/articles/1526452-where-can-i-find-the-private-keys-for-my-wallet-
OP won't have access to his private keys, if Coinbase shuts down his coins will be lost.
https://support.coinbase.com/customer/portal/articles/1526452-where-can-i-find-the-private-keys-for-my-wallet-
OP won't have access to his private keys, if Coinbase shuts down his coins will be lost.
How do I set up a wallet as a beginner?
I read the beginner FAQ, but I am so confused on many points.
I wanna be able to receive bitcoins, I'm not sure if it would be safest to get my own wallet with an app, or use a trusted 3rd party website?
It would be preferably if it could be accessed via phone via an app or so.
Would really appreciate help! Mainly gonna be receiving bitcoins and using it for shopping.
Thanks in advance!
I read the beginner FAQ, but I am so confused on many points.
I wanna be able to receive bitcoins, I'm not sure if it would be safest to get my own wallet with an app, or use a trusted 3rd party website?
It would be preferably if it could be accessed via phone via an app or so.
Would really appreciate help! Mainly gonna be receiving bitcoins and using it for shopping.
Thanks in advance!
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