How to create a Bitcoin Wallet on Blockchain
There’s a huge amount of mystery around the crypto currency known as Bitcoin, and despite being around for nearly 8 years it’s still not as mainstream as you’d think it would be.
I consider myself an internet marketer, and I have been so for a decade, in fact pretty much when I started making money online bitcoin was around, but it wasn’t until November 1st 2016 that I was offered an affiliate payment in bitcoin.
I wasn’t too excited about it at first, in fact I first viewed it as a bit of a pain in the backside, but when my payment increased in value of approximately 7% from receiving it, I started to become interested in it.
So I’ve decide to start this project with two other co-founders to bring bitcoin in to the mainstream for people like us, the small fry internet entrepreneurs of the world that would benefit massively from more bitcoin services and affiliate programs.
As such, the first port of call for Lee was to open his first bitcoin wallet, and he’s done so with blockchain.info
Opening an account literally takes seconds, an if you skip to 5 minutes in of the video, you’ll see how quick and easy it is.
click “Create a Free Bitcoin Wallet”
From here you simply have to enter an email and password
Check your email and you’re good to go.
As Gaz says on the video it’s worthwhile adding extra security like blocking TOR logins and also adding 2 step authentication with your mobile phone. Whilst this does compromise anonymity it does make your account much more secure.
You can also add a security back up phrase and a password hint, but I’m personally not sold on these things, as where there’s money, there’s people that want to take it, and I personally don’t feel safe giving hints that could help someone decipher my password.
Are there other wallets?
At the moment there’s quite a few different options like Coin.space, as a test I actually sent my bitcoins out of blockchain.info to coin.space and the suggested exchange in to USD was actually higher than that of blockchain.info but this didn’t really mean much, as once it was sent back to blockchain it was the same value as it was before.
That being said, I do believe that there is scope to make money simply by moving bitcoin in exchanges, and this is something that I will be personally investing a lot of time and money in to so that others can benefit from it. I’m not talking about moving from BTC to BTC, but actually moving BTC to say Zcash or Ether, sit on it for a while and then move it back to BTC when the rate is more favourable for a reverse exchange.
Essentially what I am talking about is old news in the Forex game, but that typically involves need a broker that hosts a platform.
What I’m going to be looking at is peer-to-peer exchange which would cut out the need for a broker or middleman, which increased the cost of exchanging.
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