Bitcoin (BTC) is a peer-to-peer payment network that established in 2009, that uses with a virtual currency, to conduct the transactions. Unlike the currencies issued by the nations, bitcoin is independent of stock exchange or any country and it’s entirely digital, with no ties to the company, central bank, or organization. It’s used as medium of exchange and an investment by all members of its network. How to obtain bitcoins is thus a matter of becoming a part of Bitcoin network, and by setting up a bitcoin account and the wallet.
How to obtain bitcoins wallet and maintain it
- 1. Decide on the type of wallet
- A wallet is what on your account to store the bitcoins. It’s less or more an online bank account, where the bitcoins are stored. There’re various types of wallets that may provide a different levels of security.
- The three main types of the bitcoin wallets are : stored on your hard drive as an online wallet, a software wallet, or an offline mobile wallet that you download on your smartphone, uses a number of keys to protect the account of your bitcoin and it’s all about how to obtain bitcoins wallet.
- 2. Keep on your wallet secure
- Be very careful with the online services. The security breaches are common and the online services generally don’t provide a security. Choose on your online services carefully and it has to be require different types of authentication to access on your wallet.
- Don’t keep too many bitcoins in one wallet at once. Part of the reason that bitcoin wallets are referred into as wallets is, because it’s so important to think that your bitcoins as a cash. Just as you wouldn’t go to shopping with a thousands of dollars in your own wallet, it’s probably unwise to store the large amounts of your bitcoins in one wallet. Keep some bitcoins online, on your mobile, or in the desktop wallet.
- Always back up into your wallet if it’s on the desktop. If you already back up on your wallet online, then encrypt any back ups for prevent the hackers.
- Use a strong password and also write your password down in somewhere safe, so you won’t forget it.
- 3. Understand the prices are volatile and payment is irreversible.
- The average price of the bitcoins can decrease and increase unpredictably. So don’t put too much money in bitcoin, because it’s seen as a high risk of asset. How to obtain bitcoins wallet and keep it secure is already listed, so you can decide on your own.