Tutorial: Beginners Guide to Buying & Storing Bitcoin

hi and welcome to my blockchain tutorial
so maybe you’re new to Bitcoin and other cryptocurrencies you know question of
where to start how to buy your very first Bitcoin what going to do today is
take you through the entire process of creating your very first wallet all the
way through to buying your Bitcoin now I blockchain to run the most popular while
it’s out there there are other wallets available as well such as coin base or
Exodus I’ve actually got tutorials of those as well so if you’d like to have a
look then please look through the series of these videos now I use blockchain as
my very first Bitcoin boy and wallet so and that’s the reason why I’ve chosen
this one also the fact that you can purchase your bitcoins through credit or
debit cards is really helpful so let’s take us through that process now so if
you navigate to blockchain info please ensure that you put the exact address
into here maybe put it into your bookmarks and to be always ensuring that
you’re going to the same site now like I said blockchain is one of the most
popular and well trusted of one it’s and obviously they’re saying here there that
number one digital wallets they’ve got 100 million transactions with 15 million
wallets out there as well so what we’re going to do is go through
and create our first wallet now these wallets obviously are free as
well and in here make sure that you put in quite a complex password so that it
is strong and then go through and read the Terms and Conditions and then click
on to continue what it’s now done is gone through and created that wallet for
me and it’s given me an identifier as well what I now need to do is verify my
email so I’m going to go to my gmail account here and click on to this email
now in here you can see that I’ve got a wallet ID and now this Warner ID is
almost like a username that you would use to log in to any kind of application
or almost like your kind of credentials now this is something that you need to
keep personal to you and so please ensure that you have a copy of this
wallet ID maybe print it off and put it into a safe maybe put it
to a password-protected documents something like that anyway and keep that
personal to you now obviously this is just a test account that I’m using so I
can show you my wallet ID but just make sure you keep that personal and
obviously go through and verify your email now that’s done I’ll return back
to my blockchain website and I’m just going to exit out of that for the moment
what I do is I’ll take you through different options here on the left-hand
side and then we’ll go through and show you how to buy your very first Bitcoin
and all the different options in here as well so what you have when you first go
into blockchain is like a dashboard so from here you can send and receive
Bitcoin or ether you can view your balances you can view how the value is
tracking you can go through and they also have a mobile app as well which I
find really helpful one of the good things about the mobile app is that
obviously you can use your own additional security like fingerprinting
and things like that and you’ve just got a nice little app and you can download
if you wish so blockchain allow you to have two different crypto currencies
which are Bitcoin and ISA so you can have two different wallets so you have
your Bitcoin wallet so when you click on here you can send and receive Bitcoin
and you can view any transactions that you may have made and hear and then you
have ether as well so you can get started have a look at your transactions
again you then have the option in here to buy and sell Bitcoin that will go
through that shortly after I’ve gone through the different options you then
have an exchange so in here you’re able to exchange from Bitcoin to ether and
ethers do Bitcoin you have em have your Security Center so this is the section
I’m going to go through first and now we’ve already gone through and we have
verified our email and so that’s all good now the next thing you have is a
backup recovery phase now this is really important the reason why this is
important is purely for the fact that instead of it for example you lose your
password or you can’t remember it for any reason there is no option for you to
reset that password with blockchain they don’t store the
passwords so what you need to do is ensure that you have a backup recovery
phrase so for any reason you can’t remember your password or you can’t
remember your details what you can do is revert back to this backup phrase what
it does it provides you with a list of words so I’ll just take us through there
and it gives me some words so it gives me a sort of North stairs narrow prevent
and what you should do with these words is you need to print them off again you
need to put them into a safe or you need to put them into a password-protected
document or something along those lines and have those so that they are safe to
you obviously you shouldn’t share those again this for the purposes of this
tutorial and I can show you those words but you need to keep those words and
save to yourself you then have a password hint so it’s just additional
help in case you’ve forgotten it you then have the option of level two to
prevent unauthorized access to your wallet so you can link in a mobile phone
in here and what it will allow you to do is use it like an authentication so and
you can use an app such as Google Authenticator which you can download
from the App Store and what it provides you with is like a one-time passcode so
that when you go to log into blockchain you obviously put in your wallet ID you
put in your password and then it’ll provide you with a like a numeric number
that will be available for 30 seconds and you can enter that into the login
script as well so it’s just really securing it and ensuring that you know
it is you that is trying to log into your blockchain wallet so you can go
through and you can enable those steps in there as well
you then have an advanced level of security as well where you can block
tour requests if I now take us through to our settings so in here it provides
me with my wallet ID so this is the ID that we got provided to in our Gmail
earlier on so this is my unique wallet ID that is personal to me that I must
not share with others so this isn’t the address that you used to send or receive
Bitcoin or anything like it’s purely your you know your
credentials so to speak in here as well you can pay your mobile phone like I
explained you don’t have preferences so in here you can put in your mobile
number you can choose a wallet language there’s a lot of different languages
within this and section obviously I’m English so I’m keeping that to English
you can then choose your local currency again I’m from the UK so mine’s
currently set to GDP but there’s loads of different currencies in here that you
can use you then have Bitcoin unit so and you
can obviously choose from Bitcoin Miller Bitcoin or bits you then have
notifications so you can be notified via email or via SMS when you receive
Bitcoin you then have an things like the auto logout so this could be really
important if for example you you know you keep yourself logged in and you
forget to sign out what you need to do is do you need to you know you can
change the different period of time here so it automatically logs you out and
no-one can nip onto your computer and start using it now I personally would
recommend clicking on the sign up button as soon as you’re finished but this will
just give you kind of like an additional layer again and ensuring that you can
you know obviously log out of this account now if you are using a public
computer such as an internet cafe or using someone else’s computer again just
make sure that you click on sign out but you do have that additional layer of
auto log out there as well in terms of security so this is where we have the
wallet recovery phrase so like I said this is just in case you forget your
password you can change your password in here as well you have your password hint
you’ve got a second wallet password this is where you can enable that two-factor
authentication with that one-time code as well and you can have a remember and
there as well then you have a drive addresses so in here you can manage
different addresses say for example you wanted to categorize things within your
Bitcoin wallet and you wanted to say all my expenses and you want to put all your
categories in there as well or everything this receipts everything that
comes a certain address it just kind of you
are your own bank so what you’re essentially doing just categorizing
things and explaining you know what the different addresses are for you’ve then
got an FAQ section in here as well so you know very simple questions being
answered if you’ve got any questions you want to ask me please feel free but this
is in here as well so it’s just kind of helpful it’s what I’m gonna do now is go
to buy our first Bitcoin now before you go through and buy your first Bitcoin
it’s always important that you and verify all your information so put in
your mobile number they might ask you for further verification such as your
address and where you’re from and your date of birth and things like that so
just make sure that you go through all of those steps so in here you can see
that if I type in an amount which is 100 pounds it’ll then give me my conversion
into an Bitcoin what it also does it tells me the current value of Bitcoin at
the moment or I could choose whether or not I want to purchase in and US dollars
or Euros and different types of options in here as well if I then click on to my
Bitcoin in here you have two different options so like I said previously and
the really good thing about blockchain is the fact you can purchase Bitcoin
using a credit or debit card or via bank transfer now when I first bought my
first Bitcoin and I made a little bit of an error and I thought you know I wanted
to save a little bit of the and the fees that were being charged in here and so
as you can see credit cards have got a 3% and fee and bank transfer has got a
not 0.25 percent fee so what I thought I’d do the first time around is I’m
saving myself on the fees and choose bank transfer now the one thing to be
aware of here is if you go for bank transfer like I have and you know
different banks vary but however from the UK I actually got charged a 25 pound
international fee so instead of receiving a fee of for example 3% so if
I was looking at a hundred pounds I’ve been looking at paying 3 pounds instead
of paying 3 pounds I actually paid 25 and so just be a little bit wary of
which option you choose in here I quite like the convenience of the fact that
you can use a credit or debit card in here as well so I’m going to select that
option and go to continue so in here is a confirmation of your
order and so it allows you to and go through you can edit it in here as well
and it’ll tell you about a Bitcoin it tells you your payment fee and and your
total cost if you then click on to confirm so what I then did was I put in
my credit card details obviously I didn’t share those and then I went
through and confirmed that and then bought my first Bitcoin so what I’m
gonna do now is show you how to receive Bitcoin from others so if I click on to
request you can select the type of currency that you would like to receive
so whether or not that be a Bitcoin or whether or not that be ether you’re then
provided with an address so this is like a one-time address for this transaction
so I could and copy this link and send it to the person that’s sending me the
the cryptocurrency or I can view the QR code in here as well so if they’ve got a
mobile app and they want to send me and you know cryptocurrency then what they
can do is simply and scan in that QR code or again from this screen you can
simply click copy ill then state that it’s copied you can then send that
across to them if you then like to send Bitcoin or ether of course and you can
often see select again you select the type of currency and then you put in
their destination address so you would either put in an address or a
destination any time that you’re putting in an address or a destination you
really need to make sure that you I’m going to make sure that it is exactly
correct so check every single letter CH at the beginning check the end make sure
it’s exactly right because once you’ve sent that Bitcoin
it’s gone but you can also use that QR code again in here as well if you so
wish and keeps a little bit more secure but it depends on you know what you’re
sending to and whether or not you have that available or not and if I now
choose and to send a certain amount for example if I put in five US dollars here
again it does that conversion for me and then it allows me to put in description
so I could put in a description in here to the person that I’m sending it to and
and then it will and obviously give it a description so it’s just like I said
we’re our own bank we’re just categorizing with paying
descriptions in here just so we can track things through through the wallet
we then have an option in here for the transaction fee so you have an option to
go regular which is they say the current confirmation time is one hour plus or
you can go priority where it will do it under an hour now I tend to find I’m
mostly used and the regular system purely for the fact that it normally
happens under an hour anyway and but you know it’s up to you which way you choose
and obviously you know you’ve got the rates and how much you’re actually gonna
be charged to this and as well if I now click on to continue it would then take
me through the process of sending that Bitcoin and it would send that for us so
my blockchain tutorial I hope that you found it useful if you’re interested in
seeing more from this series then please hit subscribe there’s a few other
tutorials in there as well that you might be interested in such as coinbase
or Exodus if you liked it then please give me a like or if you have any
comments please put them below thanks and I’ll see you soon

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100 thoughts on “ Tutorial: Beginners Guide to Buying & Storing Bitcoin

  1. hello louise! just want to ask , is the generated wallet address can be put to public so like for example some ico etc. that my earnings can be sum up there, then extract later

  2. How to buy Etherium by using Bank account or is it possible to buy Etherium by using bank account?.If not then why not?.

  3. Hi Louise Elizabeth, will work for people living in the USA? Also does Blockchain require photo ID verification in order to buy and send Bitcoin? Coinbase is a major pain in the butt to deal with. Thanks,

  4. Louise, do You know what is "Bitcoin Links Handling" option in SETTINGS >> PREFERENCES. In this video You skipped it at 7:24.
    I tried to Enable this option. Then I got confused and canceled it.
    I guess you can ignore this option, but I'm not sure. Maybe You can explain why is this option there anyway?

  5. I'm in the US and just want to get my winnings out of a betting site in Costa Rica. Sorry, but I don't trust any of this crypto shit. Do I need a balance to receive the funds, And how do you get cash out of it? Thanks

  6. I hv some credit (aproximately 14US$) in blockchain wallet. and I need to buy some voip credit using this balance. could you tell me how to do it?


    Want to earn $50 FREE Crypto from Check out this video

  8. Had $4,000 in Bitcoin stolen right out of my Blockchain wallet which cleared my entire balance. Blockchain Support response…. "sorry to hear that". Had setup advised password safeguards, security precautions,. Ripped off before i could transfer to a hardware wallet,.

  9. This app irritates me so much because it says it doesnt work in my state, and I live in New Jersey. I also have imported addresses on the app that I can not access without a private key. So basically I have a load of Bitcoin money that I cant transfer to my bank account because it doesnt work i. My state and I also dont have the import keys. So bummed

  10. Good day Loise, I have a question in blockchain about how I could verify my id credential to be able to increase the amount in purchasing bitcoin. That my current limit right now is $300. Please let me know. By the way great video a lot of good​ information Thank you.

  11. as i remmber there were a 2 sites of blockchains now its name .com am confused because old name is fake

  12. Awesome explanation. Highly educative! I want to know what is the likelihood of my funds to be stolen when i ask someone to mine on my blockchain account. He asked mt to send my Wallet id so he could connect my wallet to his miner. Please reply soon. Cheers

  13. There is someone offer me to teach about this blockchain and he make me account in this then he ask me to change my password, i changed it and ask me to deposit 20$, but knowing he knew my wallet id, so i decided not to deposit, do you thinks its a scam?

  14. thank you so much Elizabeth this tutorial was really simple, understandable and concised. once more grazie mille!

  15. So useful information and so clear explanation, which is more secure and easy the paper wallet or the hardware one like nano or trezor? Thanks Elizabeth.

  16. Please do not touch this site. Passwords don't match up and app crashed now all the Bitcoin I had is gone and they can't or won't help me

  17. How do you withdraw you bitcoin in to cash or convert your bitcoin in to cash using Blockgain account please show us

  18. I got some Bitcoin in a paper wallet and can't get it out. Every time I put in the BIP38 it says it's the wrong one but it's not. What do I do? I,m doing it on Block chain

  19. hi i wach you videos it is so helpfull can you hlp me in how many waltes we can add in blockchain account plz help me in this

  20. hi Loved your video. It has helped me a lot and made me undersatand that i am scammed and lost my money.:( 🙁 i Need help . Please answer these questions i have about blockchain wallet and bitcoin wallets. It would help millions of people to save themselves from scammers. i have transferred bitcoin to my blockchain wallet and my wallet showed me the 299$ when i checked then after sometime that became 0$ . When i went through transaction history there was no transactions to show. why did that happen? did someone hack into my wallet?where did that money go?
    and Second Question: There is "non-spendable amount" showing me the bitcoins and when tap on it shows the amount. A person guiding me with this is telling that the amount that i have had in my wallet is this amount.whatever i had in my wallet had gone into non spendable amount. IS it TRUE?
    He suggesting me with to buy 500$ bitcoins so it would reflect in the wallet and there after i can withdraw.
    please help me soon he is still in conatact with me on whatsapp what shall i do?

  21. Can someone help me. Ive bought bitcoin yesterday with no problem. Today I wanted to buy again but when I hover over the bitcoin buy section the cursor turns to that red sign meaning that I cannot buy….whys that ?!

  22. Hello. I need to upload my documents in the wallet verification portal. Where would I find this portal. Help please !

  23. Nothing feel good than Being successful in any thing you do since i started making profits trading bitcoin my life has really changed

  24. hello if someone is asking for my password and wallet ID is it safe to give it to them, cause they wanna merge they business account with mine?

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