Set up your first Wallet to receive and spend Bitcoin anywhere – 5 Min & Free
Samourai Wallet - Android
Mobile wallet - FREE
Samourai wallet can be your first wallet if you are new. It’s very secured, pro-privacy and pro-Bitcoin and free.
It’s great for small amount of bitcoin or if you need to spend / received bitcoin regularely on the move.
1. DL on your phone ( android)
2. Set up a new wallet
3. Write down a passphrase, make sure you don’t forget it.
4. on a piece of paper, write down the 12 words private key. DO NOT LOSE IT and follow the instruction from the previous chapter.
5. Wallet is set up, you can generate address to send and received Bitcoin.
Move to an Hardware wallet to secure your long term saving – 15 Minutes & 60 €
Ledger / Trezor
Hardware wallet - cold storage
This should be your go to if you hold any important amount of Bitcoin (above 1000 $). It is the easier/ best security compromise you can make.
Those devices are highly secured and verified by the community. Be sure to buy them directly from the producer and not a reseller. They cost around 50 to 150 € depending on the model.
The setup process varies between the two brands but the idea is the same:
1. Be sure the box is sealed and was never open
2. plug to PC
3. DL software ( Bridge for trezor and ledger live for ledger)
4. Follow the set up process, so set a PIN, name the device, DL the app, write down your private key with care
The UX is great and really easy to use.
Be sure to keep the device secured and don’t share the pin with others.
For extra security create some passephrase account or multi-sig account using those devices. But we will see that later.
Use your Hardware wallet with Electrum for a maximum of flexibility – 5 minutes & Free
PC desktop wallet
Electrum is a very efficient desktop wallet.
It’s quite old and used by many companies and users.
It allows to create complex & simple wallet for free but also used a hardware device to create such wallet.
It also has a very good service to create multi-sig wallet as we will see later.
1. DL electrum
2. Create a Wallet
3. Select the characteristic wanted ( single wallet, 24 word seed, basic configure).
4. write down the 24 words on a piece of paper and follow the private key management instruction
5. add a passphrase if wanted.
You can now have access to your wallet anytime on your PC and dig around it by creating many different address type, paths and other more advanced features.