Bitcoin is the most popular and most demanded cryptocurrency today. Its rate increases every day, the system develops, and more and more users and investors appear in it. Accordingly, many people have a question: "How to start using Bitcoin?".
First steps
Many believe that in order to join the world of cryptocurrencies, first of all, you need to buy bitcoins or some other tokens. In fact, this is not entirely true, because in order to buy a cryptocurrency, you need to at least know where it will be stored after the purchase.
There are several options for storing cryptocurrency. Basically, people use the three most popular options: cold wallets, online wallets and exchanges. The last two are not very reliable, especially when it comes to large amounts. That is why the vast majority of users keep their funds in cold wallets.
What is a cold wallet?
A cold wallet is a special program that allows you to store bitcoins directly on the user's computer. This is the best option, since in this case no one will be able to freeze or hack the account. Cold wallet funds will be completely safe and will always be available for transactions.
Today, the choice of cold wallets for storing bitcoins is very large, because these tokens have become incredibly popular all over the world. This attracted third-party developers who created a large number of software options for storing tokens, but in this article we will focus on the most popular and most reliable cold wallet for bitcoins - Bitcoin Core.
Bitcoin Core Features
First of all, it is worth noting that Bitcoin Core is an official wallet. It was developed by the same people who develop the Bitcoin network itself. Accordingly, the level of user confidence in this wallet is very high.
Also, do not forget that Bitcoin Core is the very first wallet for cryptocurrencies, and it appeared almost at the same time as Bitcoin itself. Since then, the software has been upgraded and improved many times, and today it is truly the safest and most efficient bitcoin exchange option.
Purpose
Before using Bitcoin Core, it is important to understand that it is used by users of the Bitcoin network. Other tokens have their own wallets that handle themmuch better.
In fact, if you analyze the entire cold wallet market, there will definitely be programs on it that will be more perfect than Bitcoin Core in a certain aspect. But do not forget that in this case we are talking about the official developer, which means that, based on a combination of factors, Bitcoin Core has practically no competitors in bitcoin exchanges.
How to create a wallet?
Before you create a Bitcoin Core wallet, you must first download the official client on your computer or smartphone. This can be done on the official website of "Bitcoin". There, the user will be offered several options for alternative wallets.
You may not need instructions to install Bitcoin Core, as the whole process is quite simple and intuitive. During installation, you will be prompted to select a language. The program supports Russian, so there should be no problems with this.
When installing the wallet for the first time, it is very important to take into account some nuances that in the future, if the user is inattentive, can turn into sad consequences.
Firstly, the most important thing in the entire cryptocurrency system is security. If the tokens are stored directly on the user's computer, nothing can threaten them, except for one thing - viruses in the system. Therefore, before using Bitcoin Core and transferring real tokens to the wallet, it is necessary to check the computer with an antivirus program. After installation, it also stands regularlycheck the system, otherwise there is a chance to just lose all the money.
Secondly, you don't need to install your wallet on the C drive. Almost all Windows users know that the operating system is usually located on it. This means that if something technically happens to the computer, it breaks down, overheats, and so on, the C drive will be completely formatted. Accordingly, all files on it will be deleted. In the case of bitcoins, this means the complete and irretrievable loss of all tokens, so there is no need to install a cold wallet on the hard drive that serves as the storage of the operating system. Now that it’s clear how to create a Bitcoin Core wallet, we can talk about setting it up.
Wallet setup
The first thing that happens after you install Bitcoin Core on your computer is synchronization with the network. The synchronization process is a download to the hard disk of all blocks of the chain, starting with the very first. This is necessary to work with Bitcoin Core, transactions are constantly controlled by the system participants, because it is decentralization and control by all users that is the basis of the blockchain mechanism.
In time, the synchronization process can take from several hours to several days, depending on the speed of the Internet. This needs to be done once, and in the future it will be possible to just safely use the wallet.
After the synchronization has passed, you will need to set up your accounts. If a person regularly receives orsends bitcoins, he can create several addresses in the wallet and use them all at the same time. This helps keep track of when and from whom exactly the bitcoins are coming.
In the settings, it is also important to check the box next to the item called “collapse on close”. It implies that the wallet will not completely burrow, but will continue to work in the background. Such a function is very convenient, since when you log into the wallet again, you won’t have to check the synchronization every time, it will always be updated in real time, which will significantly speed up the user’s interaction with the program.
This completes the installation and configuration of the cold wallet. Now the user will not have any problems with how to use Bitcoin Core. You can safely start buying and selling bitcoins, and where to get them is a topic for a separate article.
In conclusion
Although not all people understand how to use Bitcoin Core and other cold wallets, bitcoin is incredibly popular today and in many respects because of this, its rate is growing so quickly. At the moment, there are no prerequisites for the fact that these tokens will fall in price. On the contrary, many financial analysts predict a significant increase in the rate in the next few years. Blockchain technology is really very convenient in practical application, so the sooner you start using cold wallets, the more profitable your investments will be later.
