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  • Writer's picturedave

Setting Up Wallet

Updated: Dec 25, 2021

Before proceeding with step-by-step instructions to experience Bitcoin first-hand and for the first time, if you’d like to understand why Bitcoin has become so important for our survival.


Step-by-Step Instructions:


Securing Your Wallet


1. Download Coinomi Wallet on your mobile device directly from Google Play or the Apple AppStore. Make sure your mobile phone is NOT jailbroken. If it is, skip the download as this will infringe on the security of your Personal Bitcoin Bank, which in this case will be Coinomi.

If at any time, you have any questions, we’ll be happy to help! Simply send an email to davesrefs@gamil.com and we’ll reply within 72 hours.


2. Once Coinomi is Installed, open the app and follow the set-up instructions. It’s quick and easy. The main thing here is to remember to keep the 12+ word passphrase you were given. Should you lose your phone, you’ll be able to recoup your Wallet.

You’ll also be asked to create a password. This is the password you’ll be required to send Bitcoin.


Creating New Wallets


3. As you’ll see inside the app, the Wallet is quite straightforward. Tapping the menu bar up top shows you links to services for exchanging, buying, and investing. Below is where your Assets are kept. Tap Overview to bring up your Wallets. You may create as many Wallets as you’d like.


4. To create a new Wallet, simply Tap the circled, + Icon near the bottom in Overview. Coinomi supports a multitude of other Crypto Assets that allow you to choose which coin you’d like to add a Wallet for. Choose the coin of your choice from the drop-down to create your new Wallet. You’ll be able to send and receive not only Bitcoin but Ethereum, Litecoin, and many others. Again, your Wallets will be neatly categorized under Assets.


Receiving Bitcoin


5. Once your Bitcoin Wallet is secured as described in numbers 1 and 2, Tap the menu and scroll down. Tap Overview. Here is where you’ll be able to send and receive Bitcoins and other Crypto. To receive Bitcoin, Tap on the Bitcoin Wallet you’d like to transact with. Here you’ll see your Wallet specific balance. At the top, you’ll see ‘Receive’. Tap on ‘Receive’.


6. In the middle of the screen, you’ll see your QR code. This is your public key. Present your code to anyone who may wish to send you Bitcoin. Nothing or no one may and can retrieve Bitcoin from you using this code, it is your personal public key. Your public key is meant to be shared with the world for the world to send you Bitcoin by scanning your code.


7. Alternatively, when you are asked to present your Bitcoin address, such as when you are asked to present your email address so you may receive emails, you’ll want to provide your Bitcoin receive address. On top of your QR code, you may see three options for types of addresses. Tap on Legacy and copy this 32 character address by Tap-Hold and selecting ‘copy’ or simply clicking on the Copy icon at the top-right hand corner of your QR code screen. The same way you receive an email, you may now present this Bitcoin address to people, applications, websites, and other services requiring you to send you Bitcoin.


Sending Bitcoin


8. On your Bitcoin Wallet balance screen, rather than Taping on

‘Receive’, you’ll want to Tap on ‘Send’. On this screen, you may manually enter the Bitcoin address you’d like to send Bitcoin to. Be sure not to make a mistake here and ALWAYS check to see you’ve entered the right address before Taping 'send'.


9. Realistically, this is simply an option you have but odds are you’ll never have to enter an address manually. Over on the right-hand side, you should see two small Icons. One is the Paste Icon to paste the address you’ve already copied. This is copy and paste is currently the most widely used way of personally sending Bitcoin. The other way, of course, is to simply Tap the little QR code Icon beside the Paste Icon. This will activate your phone’s camera to scan the QR code you’d like to send Bitcoin to. Once you’ve scanned the code, enter the amount of Bitcoin you’d like to send and click ’Continue’. From there on in, you’ll be asked to enter your password for security. Once your password is instantly verified, you’ll Tap ‘send’.


10. On your balance screen, you’ll be able to see the progress of your sent and received Bitcoin with your block Confirmation count.


Conclusion


Congrats!


You're now ready to Send, Receive, and Claim Your BTC!


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