How to Create Your First Bitcoin Wallet on Blockchain

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Bola
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How to Create Your First Bitcoin Wallet on Blockchain

Postby Bola » Wed Nov 23, 2016 9:52 am

In this post, we’ll examine how to set up a bitcoin wallet online with blockchain.info. Bitcoin is a digital currency as well as a payment system. The blockchain.info is an amazing easy-to-use platform for storing bitcoin wallets.

A bitcoin wallet can be compared to a bank account where cash is stored except that with bitcoins, it is an online account and the cash is digital. Basically without a bitcoin wallet, you can’t send or receive bitcoin payments. So before you get bitcoins, you’ll need to create a bitcoin wallet. The wallets are accessed through the blockchain.info website by typing https://blockchain.info into your browser address bar.

Every wallet has a unique identifier or key used to identify the owner of the wallet. A bitcoin address is attached to the wallet which will be used for bitcoin transactions - sending and receiving bitcoins. To understand how the bitcoin wallet works, let us use the traditional banking process analogy. For anyone to carry out transaction in a bank, he or she needs an account number. That account number is unique to each customer who is given a unique ID by the banking system. For example, a customer named John Doe may be given a unique Customer ID – 001 with a unique bank account number – 0014557841. That account number is used by the customer in transactions. The bank stores the transaction history of the account. How does this apply to blockchain wallets? The wallet ID is the customer ID, the account number is the bitcoin address and the bank or transaction record manager is Blockchain which stores the transaction history of each bitcoin address attached to a wallet ID.

Setting up a blockchain wallet involves two steps:
• Registration
• Securing your wallet

Registration
To register, visit https://blockchain.info.
Click on wallet
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This takes you to the login/register page. Click “Create A Free Bitcoin Wallet”
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When you do this, you'll see the registration page. You will need an email address and a strong password.
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Fill in your details and click continue to register.
Congratulation ... you've been registered
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Here we go, your wallet homepage is shown below
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Login into your e-mail address for verification. Verify your email by clicking the link “Verify Email”. Also, open a notepad or other text editor on your computer. Copy and paste “your wallet identifier link” in the text editor file. Save the file on your computer in a safe folder for future reference.
The wallet ID is displayed below:
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Do not reveal your personal information and customer ID to anyone. In contrast, you can share your bitcoin address as it functions as your account number. I would recommend using a private browser page or using Google Chrome's incognito mode when logging into your account. While this does not protect your information from being accessed by the ISP or other third parties, it ensures any history of your activities is not stored on the browser for the curious observer to access. In addition cryptographic protocols used by Blockchain protects your account from unauthorized access.
How to Login
Find your way to blockchain.info login page and supply your wallet ID and password then ... submit. This will log you in and you can access your wallet.
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If you are using a browser for the first time or you are using an anonymous browser, it will request for email authorization. You are required to approve the login attempt from your registered e-mail account.
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Open your email and click on the link sent to authorize the login.
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You would be logged in, once the authorization is successful.

You can Deauthorize your browser. That is, prevent a browser from logging you in without email authorization. This is often useful if you login from another device or you use a public computer. To do this click on sign out and click on “De-Authorize Browser” button. Yeah, this is basic but it is important. There are more sophisticated security features offered by blockchain.info to protect your wallet. The other security features will be examined in another post.
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Finally, you may be wondering ... where is my account number and how do I receive money in my wallet. Re-login and click on "Receive Icon" on your dashboard to "Start Receiving Bitcoins". That will create your bitcoin address. This unique set of random funky looking alphanumeric characters represents your bank account.
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Copy and save this address in your safe text editor as well. Also, You can use a bar code scanner app on your mobile device to capture wallet address. Otunba, a funny colleague of mine, said " it better to receive, than to give" in 2014 . While many people believe that "It is more blessed to give than receive". Well, you have opportunity of doing both now - give out your wallet address and start receiving bitcoins!

A lot of credits to precioustosin. In our next post, we would focus on how to secure your wallet.
'It always seems impossible until it's done.'— Nelson Mandela

olakesinro02
Posts: 1
Joined: Mon Nov 14, 2016 6:17 pm

Re: How to Create Your First Bitcoin Wallet on Blockchain

Postby olakesinro02 » Wed Nov 23, 2016 10:06 am

I just read your post and it was great. I learnt something new on security..hope to read more posts from u...nice work

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kehinde.onadipe
Posts: 1
Joined: Tue Nov 22, 2016 8:11 pm

Re: How to Create Your First Bitcoin Wallet on Blockchain

Postby kehinde.onadipe » Thu Nov 24, 2016 8:22 pm

Nice..very informative!

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