Steps To Create A Bitcoin Account

In the current scenario, the crypto-currency Bitcoin is widely used for different transactions. Right from placing an order for a pizza to purchasing gold, this crypto-currency is accepted on a global scale. For storing Bitcoins, a Bitcoin wallet holds an equivalent importance to a Bitcoin account. It is the place where all funds and information related to transactions is stored. Being a decentralized currency, it is growing at pace and doesn’t require a formal identity proof. Therefore, choosing a suitable Bitcoin wallet is a must for anyone who is willing to make an account for trading Bitcoins. Read on and know more what steps should be followed for creating a Bitcoin account.

Get A Bitcoin Address
Before opening a Bitcoin account, it is important for the account holder to get a Bitcoin address. For the same, the individual should be having a wallet. A Bitcoin wallet stores all information related to all transactions made using Bitcoin. In the address, the info related to the public & private key is also stored. When the codes match, the account holder can make a transaction without rendering any processing fee.

Choosing & Setting Up a Wallet
There are different types of wallets available in the crypto-currency market. An account holder can choose from the following types of wallets: paper wallet, desktop wallet, mobile wallet, and an online wallet. Each wallet has its own security features. No kind of fee is charged for signing up for a wallet, but verification has become a must for all account holders. This is solely done for reducing the cyber attacks on Bitcoin accounts worldwide.

Sending & Receiving Bitcoins
For sending and receiving bitcoins, it is essential to know the address of the recipient/sender. After entering the details like the name, account holder’s number, and amount, one can easily complete the transaction. Some wallets charge a minimum transaction fee, however, it is up to the sender/receiver to pay it. Not paying the fee might result in a slow transaction. It is important to note that if an individual doesn’t have any bitcoin in his account, he can purchase from an exchange for initiating transactions.

On an Ending Note…
In literal terms, a Bitcoin account is nothing but a Bitcoin wallet. It contains the entire information of the account holder as well as the transactions made by him. By following the steps listed above, anyone can create a Bitcoin account conveniently.  

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