Bitcoin is the most popular and most sought-after cryptocurrency to date. Its course is increasing every day, the system is developing, and more and more users and investors are appearing in it. Accordingly, many people have a question: "How to start using Bitcoin?".
First steps
Many people think that in order to join the world of cryptocurrencies, first of all, you need to buy bitcoins or some other tokens. In fact, this is not entirely true, because in order to buy cryptocurrency, you must at least know where it will be stored after purchase.
There are several options for storing cryptocurrency. Basically, people use the three most popular options: cold wallets, online wallets and exchanges. The last two are not very reliable, especially when it comes to large amounts. That is why the vast majority of users store their funds in cold wallets.
What is a cold wallet?
A cold wallet is a special program with which you can store bitcoins directly on the user's computer. This is the best option, since in this case no one can freeze or crack the account. The funds of the cold wallet will be in complete safety and will always be available for transactions.
Today, the choice of cold wallets for storing bitcoins is very large, because these tokens have become incredibly popular around the world. This attracted third-party developers who created a large number of variants of software for storing tokens, but in this article we will talk about the most popular and most reliable cold wallet for bitcoins - Bitcoin Core.
Features Bitcoin Core
First of all, it is worth noting that Bitcoin Core is an official wallet. It was developed by the same people who are developing the Bitcoin network itself. Accordingly, the level of user confidence in this wallet is very high.
Also, do not forget that Bitcoin Core is the very first cryptocurrency wallet, and it appeared almost at the same time as Bitcoin itself. Since then, the software has been upgraded and improved more than once, and today it is really the safest and most effective option for exchanging bitcoins.
Special purpose
Before using Bitcoin Core, it is important to understand that it is used specifically by users of the Bitcoin network. Other tokens have their own wallets that can handle them much better.
In fact, if you analyze the entire market of cold wallets, there are sure to be programs on it that will, in a certain aspect, be better than Bitcoin Core. But do not forget that in this case we are talking about an official developer, which means that, in terms of the combination of factors, there are practically no competitors in Bitcoin Core in bitcoin exchanges.
How to create a wallet?
Before creating a Bitcoin Core wallet , you must first download the official client to your computer or smartphone. This can be done on the official website of Bitcoin. There, the user will be offered several options for alternative wallets.
You may not need the instruction to install Bitcoin Core, as the whole process is quite simple and intuitive. During installation, you will be prompted to select a language. The program supports Russian, so no problems should arise with this.
When you first install the wallet, it is very important to take into account some nuances that in the future, if the user is not careful, can turn into sad consequences.
Firstly, the most important thing in the entire cryptocurrency system is security. If tokens are stored directly on the user's computer, nothing can threaten them, except for one thing - viruses in the system. Therefore, before using Bitcoin Core and transferring real tokens to your wallet, you must definitely check your computer with an antivirus program. After installation, it is also worth checking the system regularly, otherwise there is a chance to just lose all the money.
Secondly, you do not need to install a wallet on drive C. Almost all Windows users know that the operating system is usually located on it. This means that if something happens technically in the computer, it will break, overheat, and so on, drive C will be completely formatted. Accordingly, all files on it will be deleted. In the case of bitcoins, this means a complete and irrevocable loss of all tokens, so you do not need to install a cold wallet on the hard drive that serves as the storage of the operating system. Now that it’s become clear how to create a Bitcoin Core wallet, you can talk about setting it up.
Wallet setup
The first thing that happens after installing Bitcoin Core on your computer is synchronization with the network. The synchronization process is the loading of all blocks of a circuit onto the hard disk, starting from the very first. This is necessary for working with Bitcoin Core, transactions are constantly monitored by participants in the system, because it is decentralization and control by all users that is the basis of the blockchain mechanism.
In time, the synchronization process can take from several hours to several days, depending on the speed of the Internet. This needs to be done once, and in the future it will be possible to simply use the wallet in peace.
After the synchronization has passed, you will need to set up your accounts. If a person regularly receives or sends bitcoins, he can create several addresses in his wallet and use them all at the same time. This helps to track when and from whom exactly bitcoins come.
In the settings, it is also important to check the box next to the item called “minimize upon closing”. It implies that the wallet will not be completely buried, but will continue to work in the background. Such a function is very convenient, because when you re-enter the wallet you do not have to check the synchronization every time, it will always be updated in real time, which will significantly accelerate the user’s interaction with the program.
This completes the installation and configuration of the cold wallet. Now the user will not have any problems with how to use Bitcoin Core. You can safely start buying and selling bitcoins, and where to get them is already the topic of a separate material.
Finally
Although not all people understand how to use Bitcoin Core and other cold wallets, bitcoin is incredibly popular today and largely because of this, its rate is growing so fast. At the moment, there are no prerequisites for the fact that these tokens will fall in price. On the contrary, many financial analysts predict a significant appreciation in the next few years. Blockchain technology is really very convenient in practical use, so the sooner you start using cold wallets, the more profitable the investments will be afterwards.