Bitcoin Crash Course Lesson #3

Wha it a Bitcoin wallet and How To Create a Bitcoin Wallet?What is a Bitcoin Wallet

In Bitcoin Crash Course Lesson#3, we will learn about:

  • What a Bitcoin Wallet is
  • How does a Bitcoin Wallet work
  • How to create a Bitcoin wallet etc…

In case you have not yet gone through lesson #1 and lesson #2:

  1. Click HERE to go to lesson #1
  2. Click HERE to go to lesson #2

Let’s get started…


What Is A BitcoinWallet?how-to-create-a-bitcoin-wallet-on-localbitcoins

A “Bitcoin Wallet” is basically the Bitcoin equivalent of a bank account.
It allows you to receive bitcoins, store them, and then send them to others.

There are two main types of wallets:

A Software Wallet is one that you install on your own computer or mobile device.
– You are in complete control over the security of your coins, but they can sometimes be tricky to install and maintain.

A Web Wallet or Hosted Wallet is one that is hosted by a third party.
– They are often much easier to use, but you have to trust the provider to maintain high levels of security to protect your coins.

There are Four Main Wallets that we recommend for beginners:

  1. LocalBitcoins.com – Create a free Bitcoin wallet, buy and sell Bitcoins.
  2. Blockchain.info – Create a free Bitcoin wallet, view live Bitcoin transactions.
  3. Coinbase.com – Create a free Bitcoin wallet, Coinabse is the world’s most popular way to buy and sell Bitcoin and Ethereum.
  4. Bitx.co – Create a free Bitcoin wallet, use the following code to get a discount when doing transactions – Y9UKZ

There so many other services we can use to create our Bitcoin Wallets, but for the purposes of this lesson,
we will show you how to create your Bitcoin wallet using a couple of the services we mentioned above.


How To Create A Bitcoin Wallet on LocalBitcoins.com:

Step #1:

  • Click HERE to open the LocalBitcoins.com website.
  • Click the Sign up free button.
  • Carefully complete the registration form and click the Submit button.

How To Create a Bitcoin Wallet

Step #2:

  • Carefully complete the registration form and click the Submit button.

How To Creat a Bitcoin Wallet on LocalBitcoins


Now that you have created your Bitcoin Wallet, it’s time to load some Bitcoins baby!


How To Buy Bitcoins?

Step #1:

  • Login to your LocalBitcoins Bitcoin Wallet.
  • Click on Buy bitcoins
  • Preferably, buy from an online seller, with good rating like 100%
  • Click the Buy button
  • Specify the amount either in BTC or ZAR (or your country’s currency)
  • If you are happy with the seller’s Terms of Trade, click the Buy bitcoins for button

How To Buy Bitcoins on LocalBitcoins


Confirm How Much you want to buy:

How To Buy Bitcoins Online on LocalBitcoins

How To Sell Bitcoins?

So let’s say you have been collecting some Bitcoins through Bitcoin Mining, Bitcoin Exchange communities or even Trading.

Now you want to sell some of them and turn them into normal cash so you can spend your moolah!

  1. Login to your Bitcoin Wallet
  2. Click on Sell Bitcoins
  3. Choose the buyer you wanna trade with, preferably someone with a good rating.
  4. Click the Sell button
  5. Specify the amount either in  ZAR or BTC you want to sell to them
  6. Click the Send Trade Request button

How To Sell Bitcoins on LocalBitcoins

Put the amount you want to Sell:

How To Sell Bitcoins online LocalBitcoins

Watch this Demo Video that shows you how to register and Create your Bitcoin Wallet:


Watch this Demo Video that shows you How To Buy Bitcoins:


Watch this Demo Video that shows you How To Sell Bitcoins:


LESSON #3 EXERCISE:

  • Create your Bitcoin Wallet using your Bitcoin provider of your choice.
  • Be sure you can login and access your Bitcoin Wallet for future uses.

We hope you enjoyed lesson #3 as much as we had fun preparing lesson it for you!

Check out Bitcoin Mining HERE.

We would love to hear from you, leave us a comment below, or on our WhatsApp Group.

Bitcoin Regards
Bheki and
The Giant!
============================
P.S: If you have not yet joined our WhatsApp Group, join us Here
>>> https://chat.whatsapp.com/4o0U11DUKeiKuhXwOzjViY
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      *WELCOME ON BOARD*

      The purpose of this group is to assist with basic information on Bitcoins.

      _The objectives are_
      1. Understand What is Bitcoin and know where to use it.

      2. How to create your own Bitcoin Account, Bitcoin Wallet & Bitcoin Debit Card.

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