Investing in digital currencies has been gaining ground in the business world for several years and is growing rapidly. As demand in this emerging field increased, users needed a secure place to store information about their currency transactions, and so a digital wallet was created to meet this need.
Build a Bitcoin wallet
In fact, “wallet” is software for exchanging digital data of cryptocurrency transactions. In the following, we will introduce you to making Bitcoin wallets in different types.
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What wallets can be used for Bitcoin?
Bitcoin wallets are available in three forms: hardware, software and paper.
- Hardware version: These wallets are usually in the form of flash drives that connect to the user’s digital device using USB. In this type of wallets, the storage of users’ transaction information is received online, but in order to increase the security of transactions, the storage of information is done offline. Hardware wallets typically support most digital currencies on the market.
- Software wallets: These types of wallets can be run on desktop and mobile. The wallet, which is web-based and used on the desktop, can only work on the same device that was downloaded and can not be used on any other device. Internet software is required to make a Bitcoin wallet.
- Mobile wallets: Due to the many uses that mobile has found, these wallets are currently the most popular wallets on the market, and because of the possibility of using them anywhere and anytime, the low volume of the program and the simple space and convenience compared to wallets. Desktops have a lot of fans.
- Paper wallet: This type of wallet is one of the cold and offline wallets and has a higher security than online wallets. In fact, this wallet is a piece of paper on which are written the public key and the user’s private key for exchanging bitcoins. For users who want to keep bitcoin for a long time and look at it as a long-term investment, a paper wallet is the best option. You also need the Internet and a printer to make a paper bitcoin wallet.
The most widely used wallet bag
- Ledger Wallet: One of the best hardware wallets available for Bitcoin, which due to its flash memory, can be easily transported and connected to any device and supports more than 1000 coins and tokens.
- Trezor Wallet: This wallet is also easy and convenient to use, while it is very safe and reliable and has the ability to support 1000 coins and tokens.
- MyCelium Wallet: A convenient and secure mobile option that can be used on Android and iOS and can also connect to hardware versions.
- Electrum wallet: As a wallet with high security and extraordinary speed, it can be run on both desktop and Android.
- Coinomi Wallet: This wallet can be run on Android, iOS and desktop, and with the support of more than 125 digital currencies in the world, it is a good option for users in this business area.
What is the most important wallet used for Bitcoin?
Among the many wallets out there, one of the most popular is the blockchain Wallet, which is used more than any other wallet.
The first version of this hardware wallet entered the market in late 2011. In addition to Bitcoin, the blockchain Wallet also supports the Bitcoin, Atrium and Stellar digital currencies. Join us to learn how to make a blockchain Bitcoin wallet.
Characteristics of blockchain Wallet
Blockchain wallets are very popular among wallets because of their simple and easy-to-use environment and the ability to be installed on all digital devices.
Also, to access this wallet, you do not need to go through complicated steps, and with any browser installed on the device, you can easily connect to the blockchain.
On the other hand, Blockchain wallet has gained the trust of customers by encrypting passwords and proving that they do not have access to bitcoins.
The languages used to program and build Bitcoin Blockchain wallets are C ++, Java, Python, simplicity and solidity .
What is the Blockchain ?
Blockchain is an amazing invention in the world of technology, a system of recording, reporting and exchanging information, with the help of which users can easily send and receive digital and encrypted currencies.
The world’s first digital and encrypted currency (Bitcoin) was introduced to the world in 2008 by the person or persons who chose the name “Satoshi Nakamoto” , and then the same person designed the Blockchain database for bitcoin exchanges. .
The important thing about Blockchain is that transactions are monitored by a group online and no individual is allowed to interfere in the transactions. This decentralized system has greatly increased the transparency and security of the Blockchain .
The information stored in this system is visible to all members, but due to the encryption of the functions, it is possible to delete or change the information from individuals.
What can be done with the Blockchain?
Blockchain was first created to store information about bitcoin exchanges; But over time, other features have been added to the technology, and it is used for many financial and non-financial activities in the fields of insurance, stock exchanges, banking, medicine, notaries and the Internet of Things.
Document registration, financial and non-financial records, data storage and transfer, smart contracting, building security infrastructure and distributed name servers are examples of services provided by Blockchain Technology. This site can also be used to make bitcoin wallets.
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Benefits of Blockchain Wallet
Blockchain has provided the world’s most popular and trusted digital wallet with the highest number of users, and every user can have their personal account on this site in a completely secure and encrypted way, and in a few seconds, the steps of making a wallet. Take your bitcoins.
At the same time, Blockchain is the oldest digital wallet that has been made, and in this regard, in order to maintain its credibility and personality and keep its users, it observes all aspects of caution and security.
This wallet supports 22 Fiat currencies and can be used in 25 different languages. Users in this wallet can convert their currency to other currencies.
Disadvantages of blockchain Wallet
In addition to the benefits of blockchain, some users are concerned about the possibility of hacking their accounts in this wallet. The reason for this concern is that by allowing personal keys to be stored on the main blockchain server, the way is opened for hackers and they can easily access the accounts.
On the other hand, when making Bitcoin Blockchain wallets, this site will ask you for a valid email to register, which is not common among other new wallets today due to security issues and the possibility of hacking.
Another issue with Blockchain wallets is the ability to store only 4 currencies, which is a major weakness compared to other new software wallets that support up to 100 currencies.
Common wallet terms:
1- Public key
After making a bitcoin wallet, you will be given two keys, public and private.
The public key is the account number or bank card number, and it is possible to send bitcoins or any other digital currency.
In other words, if some bitcoins are sent to an account during exchanges, the user’s public key must be provided to the other person.
2- Private key
The private key is actually the user’s login to his personal account in the wallet. Due to the fact that the identity of individuals is not registered in the blockchain, a 156-bit private key is given to the user when making the wallet, and then the person who enters the network with that private key is recognized as the owner of the assets in the bag. There is money.
Therefore, it is very important that the private key remains confidential and is not given to other people. The private key is used in irrevocable transactions and guarantees the digital signatures they generate.
3- Atrium and its application
Another popular platform that operates under the blockchain and competes closely with Bitcoin is Atrium. In fact, this decentralized platform has created an environment of high security by creating smart contracts without the slightest fraud, censorship and interference from others.
Atrium was first introduced by a man named Vitalik Butrin, who worked for Bitcoin Magazine and believed that Bitcoin had weaknesses that needed to be addressed. The digital currency traded under this platform is called ether.
4- Bitcoin Cache and its application
The increasing popularity of bitcoin and the increase in the volume of transactions have slowed down transactions and taken a lot of time to process trading information.
In addition, the cost of transactions in bitcoin transactions has increased. To rectify this issue, which has led to user dissatisfaction, Bitcoin Cash was introduced in 2017, which had technology close to Bitcoin. The process of making a bitcoin cache wallet is exactly the same as a bitcoin wallet.
What systems can blockchain be used on?
One of the features of Blockchain that has made it popular among users is that it can be used on all smart devices.
The web version of Blockchain is easily searchable from all browsers, and in addition, the site has designed software for iOS and Android smartphones. The important thing about Blockchain software is that it has a security code with advanced encryption that works with fingerprints.
This means that if the user loses his phone for any reason, he will not worry about the security of his currency account. Because access to the software is only possible with his own fingerprint.
Blockchain Site Address
The Blockchain website is available at Blockchain.com .
Install the Blockchain on the computer
There is no specific version for making a Bitcoin wallet on the desktop, and users who want to use their personal computer in this regard should get help from the web version or the same site and download the desktop version. Visit www.bitcoin.org to download the desktop wallet version.
Install the Blockchain on the Android device
Blockchain software is available for Android and is very popular among users. You do not need a special Android version to install this wallet on your mobile phone, and you can download it through Google Play and the Blockchain site, and easily perform the steps of making a Bitcoin wallet on your mobile phone.
Install Blockchain on ios device
Blockchain wallet can also be installed on iOS phones and its features are almost similar to the features of Android software. You can download the Blockchain Wallet software on iOS through the App Store and iTunes.
How to make a blockchain bitcoin wallet step by step
To make a Bitcoin wallet online in Blockchain, follow these steps:
1. Enter the Blockchain website at www.Blockchain.com and select “Sign UP” or “Get a Free Wallet”. By clicking on the link below, you can go straight to the registration page without following the previous steps. https://login.blockchain.com/#/signup
2. Enter a valid email and after selecting a strong and secure password, click on the “Create My Wallet” option.
3- Now the Blockchain Wallet account has been created for you. At the beginning of the entry, a message will appear on the screen suggesting that you see the wallet tutorial; Of course, you can postpone this to another time.
4- You need to enter the email that you gave to the site at the beginning of the registration once and confirm the email that was sent to you by Blockchain. At the end of the blockchain email is a wallet ID that you must use to log in to the wallet.
5- In order to be able to receive bitcoins from others, you need a bitcoin address, which you can get your bitcoin address from the site by clicking on the Request option.
6. Unlike a wallet address, which you should not give to anyone, to exchange bitcoins, it is necessary to give the bitcoin address to others.
What security points should we observe when making a Bitcoin Block Wallet?
As hackers move step by step, experts and designers of digital networks, it is necessary to follow the security tips when making a Bitcoin Blockchain wallet to avoid cyber thieves.
After creating a wallet, it is better to enter your valid mobile number and increase the security of your wallet by activating the 2-step verification option. Using a second password is another option that helps increase security. In this case, a new password is required for each transaction.
Backing up your wallet
Backing up is one of the most important things that users should do after making a Bitcoin wallet. Wallet transactions are non-refundable, and if you forget or lose your password for any reason, there is no way to get your Bitcoin assets back. Unless you have backed up your data. Follow these steps to make a backup:
- After entering the wallet, click on the “Security Center” option.
- Select the “Backup Funds” button.
- Recovery words are displayed for you to write down from left to right.
- To prove that you wrote down the recovery words, you will be asked to re-enter some words on the site.
- At this stage, a green tick appears which indicates that the checkout process has been completed successfully.
Be sure to keep the recovery words in a safe place and do not share them with others.
How do thieves seize our blockchain wallet?
Bitcoin is as popular with investors and hackers as it is with investors and traders. The number of multi-thousand dollar thefts has skyrocketed in 2016 and 2017, and users working in this financial platform need to be familiar with the methods used by cyber thieves to obtain their bitcoins.
One of the favorite ways for hackers is to use ransomware. By sending a virus file to the user, they infect his system and easily remove bitcoins from the wallet.
Alternatively, by hacking sites that have passwords, they obtain users’ passwords and enter their wallets.
In some cases, they even enter people’s emails just by getting their email password and retrieve their account information by finding emails related to Bitcoin and wallets.
If you have a digital wallet, you have to be very careful even to enter seemingly ordinary sites. Some hacker-controlled sites, which look ordinary and trustworthy, take your personal information after you log in to their homepage and use it to access your bitcoin database.
Many thieves also transfer paid bitcoins to their accounts by hacking into online stores that accept bitcoins.
With so many hackers out there, there are many different ways to steal cryptocurrencies, and to survive in digital commerce, wallet owners need to be on the lookout for the best possible way to protect themselves from thieves.
Conclusion
Finally, it is worth mentioning a few points about the Blockchain:
- The Blockchain should not be limited to bitcoin-related activities. Blockchain has many capabilities, and the wallet is just one of them.
- Blockchain, as a decentralized and open source technology, regulates the network itself and is not monitored by any person or persons.
- Given the high security of the Blockchain and the proliferation of Internet communications, we should expect more surprising activity on the Blockchain.
- There are still many people who are unaware of the Blockchain ability to change their business and life.
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