Methods of Receiving Bitcoins

Anyone can receive Bitcoin, even if you've never held or traded Bitcoin before – all you need is a Bitcoin wallet. If you want to accept Bitcoin through your business, you can do so by setting up an account with a payment processing provider..

Method 1 of 3:

Choosing a Bitcoin Wallet

1. Use a mobile wallet if you want convenient access to your Bitcoin.

Mobile wallets are apps available for both iPhone and Android mobile devices, such as Copay, Airbitz, or the Bread app from breadwallet. Mobile wallets tend to have simple, intuitive interfaces, so they work well if you're new to cryptocurrency and not very tech-savvy.

2. ​​​​​​Download a software wallet for greater security and control

With a software wallet, you install software on your desktop or laptop. Because it's kept on your computer rather than on the internet, it's more secure than an online wallet. And since it's right there on your computer, you have control over your wallet and transactions at all times.

3. Buy a hardware wallet for increased security.

Even a software wallet is only as safe as your own computer and network. For the utmost in security, keep your Bitcoin in a hardware wallet, such as a Ledger or Trezor, that is not connected to the internet. These hardware wallets typically cost a few hundred dollars and provide the utmost security for your Bitcoin.

Published on: 9/4/20, 3:11 AM