Receiving and sending after opening a Bitcoin account
When buying or receiving bitcoins, you are using the pick-up address from your Bitcoin account. We can only emphasize it enough by copying and pasting this address, and do not type it where the Bitcoin receiving address is similar to the number of your personal bank account that you receive Bitcoin on. To open a Bitcoin account, follow the following:
Enter the website of the company in which you intend to open a Bitcoin account, then go to your wallet, and the receiving address can be found under the “Receipt” button, as there is a wallet in which the Bitcoin receiving address will change automatically once it is used to make a transaction.
To receive bitcoin in your wallet, copy the receiving address from your Bitcoin account, and paste it into the direct Bitcoin order form. This way we will know which wallet we will be sending the coins to.
Sending Bitcoin is just as easy! Click “Send” in your wallet, then enter the receiving address that you copied from the recipient, then enter the amount you want to send and confirm.
Create a backup copy of your Bitcoin account
When opening a Bitcoin account, it is important to make a backup as well, in this way you will ensure that you will always have access to your account, and thus to your bitcoin, so if you lose your Bitcoin account login credentials, you can use the backup to regain access to your digital currencies. .
And jot down your wallet provider’s private details on a piece of paper: your login name, password, and recovery phrase. Then store this securely, and don’t take a picture with your phone, the mobile device has a permanent connection to the internet this makes it easy for hackers to access your wallet.
What is a Bitcoin account?
It is a digital account that allows you to store and trade Bitcoin, and a Bitcoin wallet means the same thing.
A bitcoin account provides a bit of data that you can use when you receive bitcoin on it, such as the address, and it is like the formula bc1qy4dk65cul8lgq7xpv8tw68e34g5vf260fwkvet and it can also be sent on it, as it is similar to your bank account number, and each Bitcoin account has a unique Bitcoin receiving address, you can share this Bitcoin address with others to inform them how Send Bitcoin to your wallet.
Bitcoin accounts or their wallets come in two main forms: private and hosted.
Private are wallets that you download and install on your PC, phone, or tablet.
There are a variety of options in this category, and we have detailed explanations on these portfolios, which you can view from here.
The main advantage of this private type is that it is more private than hosted wallet.
The second type of bitcoin account is hosted and platforms like Coinbase, Kraken and blockchain provide Bitcoin accounts that don’t require you to install any software on your local computer.
A hosted bitcoin wallet is more convenient than a private wallet in many ways, and you can access it from anywhere on the Internet.
Some systems such as hosted Coinbase offer additional features such as the ability to exchange Bitcoin for USD.