First of all, let me start with the most important as well as most major thing that the Bitcoin wallet application is a secure as well as a very safe digital wallet transaction platform that can be used to send, receive, as well as store Bitcoins. Moreover, in addition to this, let me tell you that to open an account for a bitcoin platform is very easy as well as simple for a foreign investor.
The following are some of the benefits as well as things that an investor can do with a Bitcoin wallet are mentioned below:
1. One of the benefits as well as things that an investor can do with a Bitcoin wallet is that an investor can buy as well as sell cryptocurrency.
2. One of the benefits as well as things that an investor can do with a Bitcoin wallet is that an investor can Send Bitcoins to other users and receive them from others.
3. One of the benefits as well as things that an investor can do with a Bitcoin wallet is that an investor can Monitor exchange rates and check the history of transaction
Moreover, in addition to this, let me tell you that in the new world of crypto currencies an investor would require a wallet to store Bitcoins safely.
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Therefore, a Bitcoin wallet is the same as a normal wallet but in addition that Bitcoin wallets are a place to store the private keys for an investor that gives Bitcoin users the right to use those coins. Moreover, every Bitcoin wallet comes with at least two keys one of them is public where the other one is private.
Moreover, in Bitcoin wallets, those wallets actually do not hold any of the actual coins whereas those are basically stored on the blockchain system of bitcoin.
Moreover, in addition to this, let me tell you that Bitcoin hardware wallets are fully secured when it is compared to software wallets however we are going to focus on software wallets more and try to understand that how an investor can set up an account or open an account on the application to facilitate or start the transactions related to bitcoin trading.
However, opening a Bitcoin wallet account is pretty easy plus there are a number of different as well as unique sites as well as applications that will allow an investor to do so. Moreover, the most common as well as famous websites can be the Blockchain as well as the Coinbase website. Basically, the Coinbase website allows an investor to buy as well as sell Bitcoins plus in addition to this a few more other cryptocurrencies from their account. Suppose if an investor is an Indian then the Zebpay website can be used for the best wallet.
Now the ques that comes to the mind of an investor is that How to create a wallet on the Coinbase website for bitcoin trading?
For creating a wallet on the Coinbase website for bitcoin trading an investor can download the Coinbase app as well as an investor can register on the same using the desktop site as well.
The following are some of the major as well as important steps to be followed for creating a wallet on the Coinbase website for bitcoin trading:
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Step: 1 – first of all an investor has to Sign up to the Coinbase website for creating a wallet on the Coinbase website for bitcoin trading.
For signing up to the coinbase website an investor has to follow the on-screen sign-up instructions that are there on the website. Then after the investor’s wallet is created then there are a few more steps that are required for security purposes plus an investor has to link the bank account, or PayPal, or any of the credit/debit card so that he can start exchanging the currency for Bitcoin trading on the platform.
Step: 2 – then an investor has to do the Phone Verification on the coin base website for creating a wallet on the Coinbase website for bitcoin trading.
Now Phone verification is a vital as well as a necessary part to serve as a secondary authentication source to further protect the wallet of an investor. As one of the warnings to this wallet is that an investor will need to enter the mobile phone number. Once he enters the phone number he will receive a text message with a verification code that is to be entered on the site. Now an investor has to Enter the code on the website and now the verification process of the phone is now complete.
Step: 3 – then an investor has to Add the Payment Accounts on the coin base website for creating a wallet on the Coinbase website for bitcoin trading.
However, now that the phone number is verified now there is a need to link a bank account as well with the help of credit/debit card, or PayPal to transfer money into and out of the Coinbase wallets. It is completely up to an investor that which payment methods an investor choose out of it.
Step: 4 – then an investor has to link the PayPal Account or Credit/Debit Card with the coin base website for creating a wallet on the Coinbase website for bitcoin trading.
Now an investor has to link the credit/debit card plus an investor is required to validate the ID. moreover, it is very easy to install the Coinbase app in the phone as well as to upload the ID with the help of the camera.
Step: 5 – then an investor has to do Identity Validation with the coin base website for creating a wallet on the Coinbase website for bitcoin trading.
One last thing that an investor needs to do is that an investor has to validate his identity by filling out the account profile form on the coinbase website. Go to the account settings, click on the link, and fill the Identity Verification form.