Step by Step Guide
(Steps 1 - 5)
Download the wallet to your mobile phone
Download a desktop version if preferable, but first download the mobile version and then pair the desktop version, using the 12 or 24 word recovery key recorded in (2). A paired wallet is essentially a clone of the first wallet and has the exact same rights as the first wallet. As such it can move Bitcoin and should thus be kept secure.
Write down your 12 or 24 word recovery key (Private Keys) on a piece of paper.
NEVER keep this on the internet, as this provides direct access to your Bitcoin. The purpose of these words are to serve as a backup for your wallet, should you lose your phone or delete the wallet. These 12 or 24 words can be entered into a new wallet to restore your old wallet, giving you access to all of the Bitcoin on it.
For additional security, this backup phrase can be etched onto a steel plate. This makes your backup phrase essentially indestructible, meaning it can survive a fire or other physical damage.
Create a pin/password for your wallet.
This provides security to access your wallet on your device, so that if your device were to be stolen, your Bitcoin wallet cannot be accessed.
*Your mobile wallet is now setup and ready to receive Bitcoin.
- Open your Bitcoin wallet
- Select “Receive”
- Copy your wallet address and paste this is as the receiving address to others that will transfer you Bitcoin - for example on your Bitvice dashboard.
For Bitvice customers, this is the address that you should add as “Your Bitcoin Address” linked to your profile, if you wish to receive your Bitcoin that you purchase through Bitvice, to this address.