Hello everyone, this is Spencer from wealth x and today we're going to learn how to get a bitcoin wallet. Also you'll learn how to get a wallet for pretty much any other cryptocurrency, which you'll probably want to do if you're getting Bitcoin. So, first thing to note, there's a lot of ways to get a bitcoin wallet, okay, you can even have a piece of paper that has a bitcoin wallet, you can have a little thumb drive, it's a bitcoin wallet, you can have different kinds of online bitcoin wallets, there's a lot of ways to do it, I'm going to show you the way that I consider both safe and easy to use. And so there's kind of a spectrum of like a really, really safe, for example, a piece of paper. And there's easy to use, which obviously is a little easier to hack, because it's online, and it's instantly accessible. So I'm going to show you a fairly middle road that you can take where you have safe places to store your Bitcoin in a safe wallet, but also,
How To Create Bitcoin Account
you've got a place where you can store Bitcoin Litecoin aetherium US dollars. But this isn't the most secure way. So this is what I was talking about. This is probably the least secure way. Okay, so I'm going to show you another step that you'll want to take to actually secure your online wallet, you're gonna go down here, you're gonna click new account, okay. And I'm going to do this with Litecoin, because I've already created this with Bitcoin, but you'll just do this with Bitcoin,
exactly what I'm doing, and you're gonna click vault. Okay. Now, let me explain the concept of this, if someone was able to hack your Coinbase account, which Coinbase hasn't been hacked as a whole, but individual accounts have been hacked, okay, they use your email, they hack your cell phone, there's lots of ways they can get into Coinbase. Which means that even though Coinbase hasn't been hacked, your personal account could still go. So what we want is a vault and what a vault is, is essentially it, it slows down the selling process. So when a hacker comes in, and they hack your personal Coinbase account,
what they do is they instantly send the Bitcoin straight to their address, and then it's untraceable. They sell the Bitcoin and they're gone, and you're done for you can't get it back. Okay, it all happens very instantaneously. So what a vault is, is it slows down that process of vault is like a bank account that doesn't let you withdraw for two days, it makes you give them two email addresses and a text and it's sending notes to all three saying, Hey, we noticed that you requested a transfer of your Bitcoin Are you sure you want to do that?
And you have to click and verify across all three, usually about two sometimes three times which means that I should your account have been hacked, you're very likely to be able to get back control of your account within 48 hours and you won't lose any of your your Bitcoin. So I hope that makes sense. So typically, if I wanted to just use my bitcoin wallet to sell Bitcoin, or to send Bitcoin to somebody, I could go in here, bitcoin wallet, and I could send it in two seconds, I click Send, given an address and go, which is good, but also really bad if your hat and so that's why you want to create, you want to create a volunteer, you'll click Litecoin, or you'll click Bitcoin sorry. Okay, you're just gonna say name, your BTC vaults, you're gonna name it BTC vault, I'm going to name mine,
LTC vault. And it says, who will approve withdrawals, individual meaning all for my own or a group. So you can have a couple people with a couple email addresses and a couple phone numbers that all have to verify. I wouldn't go that intense unless you've got a lot of Bitcoin. So it's gonna say primary email, that's my email, that's where you're gonna send one message and it says secondary email.
So I'm gonna put in a secondary email that I want to send verification messages well in that 48 hour period. Okay, and it's going to send a confirmation, your secondary email, as soon as you click that you're good to go, you now have a vault. I'm going to pause real quick while I do that. Okay, as soon as you click that, that link in your email and say, Yes, I verify that I own this email. It'll say complete, it'll let you know it's a 48 hour time delay, give you all the places where it sends notifications, etc. Mine's blurred out obviously. And you'll click continue to evolve. Okay.
So now in your account, you'll have a bitcoin wallet, and you'll also have a Bitcoin vault. Okay, so once you go buy your Bitcoin, which is very easy to do, then you're going to want to send that Bitcoin so you'll go into your Bitcoin wallet, and you'll want to send it Oh, whoops, I did that wrong. You're gonna want to deposit it into your Bitcoin vault. So you're going to be in your accounts,
you're going to go deposit and you're going to safe deposit from my bitcoin wallet, and it's going to give you how much is in that wallet right now. I only have what 371 so I'm gonna say, threes, I'm gonna say or it's point O four, one bitcoin 1883. Okay, I'm going to say I want to transfer that into my vault. It's gonna say done. Now for me to get out of that vault, I'm going to have to wait 48 hours. Okay? So typically you're buying your Bitcoin to sit on and hold, right,
you're not buying it to sell in two hours or three hours. If you are, you don't want it in your Bitcoin wallet, but typically you're buying it to just sit on it and wait till Bitcoin raises a lot in value. So this is the safest way to have your Bitcoin in a safe place with Coinbase not you know, sitting on a piece of paper that you can lose or that can burn or it can get wet or all kinds of problems. So it's safe with Coinbase but also fairly safe from hackers.
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