In our today’s discussion, we are going to be walking you through the easiest way to create your own free Bitcoin wallet and a short note on it.
WHAT IS BITCOIN?
Bitcoin is a digital asset and a payment system created by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
When we say that a currency is backed up by gold, we mean that there’s a promise in place that you can exchange the currency for gold. In a sense, you could say that Bitcoin is “backed up” by the price tags of merchants – a price tag is a promise to exchange goods for a specified amount of currency.
As of 6 February 2016, there are 15.2 million bitcoins circulation of a capped total of 21 million. That means over 72% of all bitcoins are already in circulation. Currently there are 25 new bitcoins produced (mined) every 10 minutes
Bitcoin Wallet is used to carry out every Bitcoin transactions and therefore before you propose to start out on Bitcoin or do any Bitcoin transaction, you need to create your own free Bitcoin wallet.
HOW TO CREATE A FREE BITCOIN WALLET
Bitcoin wallet is like your portfolio that you will be using to manage all your Bitcoin transactions.
Contrary to what many of you think out there, creating a Bitcoin wallet is simple and free.
Without further bother, follow the steps below in creating your first Bitcoin wallet to prepare you for any Bitcoin transaction;
Requirements to creating Bitcoin Wallet
• Just an email and password
Procedures to creating your first Bitcoin Wallet
• Go to Blockchain, as this is the best and the world largest provider of Bitcoin transactions
• Click on the Wallet menu
• Click on Create Your Wallet tab
• Fill in your email, password and confirm password
• Click on the continue tab
• You will receive a mail containing your Wallet ID and a confirmation link
• Click on the confirm email link to confirm your account
Hurray! And you have just succeeded in creating your first Bitcoin Wallet and you can then proceed to Blockchain again, on the wallet menu to log into your Bitcoin Wallet with your Wallet ID and password
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