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diff --git a/content/bitcoin.md b/content/bitcoin.md new file mode 100644 index 0000000..221ff67 --- /dev/null +++ b/content/bitcoin.md @@ -0,0 +1,105 @@ +--- +title: "Getting a Bitcoin Wallet" +date: 2020-06-28 +icon: "btc.svg" +--- +Let\'s now get a Bitcoin wallet and become able to receive Bitcoin funds +or donations. + +## Wallets + +One of the classical choices for a Bitcoin wallet is Electrum. Go to +[https://electrum.org](https://electrum.org/#home) to download and +install it, or if you are a Linux user, it is probably included in your +distribution\'s package repository. + +### Mobile version? + +Note also that there are mobile/cell phone versions of Electrum for +Android and iOS. I generally advise against using a wallet on a cell +phone for security reasons, but if you would like, you can. + +If you are okay with a mobile wallet, I recommend getting [Cake +Wallet](https://cakewallet.com/), which can use Electrum-style Bitcoin +wallets, but also Monero and Litecoin. + +## Generating a Wallet + +Once you open Electrum (or Cake Wallet), you can choose to create a new +wallet. Name it whatever you want and choose the \"Standard Wallet\" +option. + +I will also note that if you are paranoid, it is perfectly possible to +generate a wallet without connection to the internet. + +### Your Seed is your money. + +Now choose the \"Create a new seed\" option when creating the wallet. +That will randomly produce a \"seed\" of 12 words. + +{{< img alt="bitcoin seed" src="/pix/bitcoin-01.png" link="/pix/bitcoin-01.png" >}} + +**These words are your money.** Once you are shown them, **immediately** +write them down on physical paper, and you will be storing this +somewhere it will not be lost or found. You can memorize these twelve +words if you trust your memory. + +These twelve words unlock all of the funds/addresses you will have on +this wallet. Whoever has your seed has the ability to spend your money. + +Note obviously that I have included a picture of a seed phrase above in +this tutorial. I or anyone else would be stupid to ever send Bitcoin to +the following addresses since the seed phrases are now public. + +Once you have written down your seed, click \"Next\" and Electrum will +have you input that seed again to ensure you\'ve written it down. + +You will also be asked to supply a password. This password merely +encrypts your wallet file on this computer so you don\'t have to retype +your seed phrase each time you open Electrum. Note that anyone with your +seed phrase can still obtain your funds. This password is only +protection on your computer here. + +## Managing your Wallet + +Once your wallet is generated and opened you will be at the wallet page. +First, I recommend opening the \"View\" menu and unhiding all the +different tabs. + +{{< img alt="electrum options" src="/pix/bitcoin-02.png" link="/pix/bitcoin-02.png" >}} + +### Addresses + +The address tab contains all the many Bitcoin addresses generated by +your seed phrase. In fact, as you use these up, the wallet will +automatically add more. + +These addresses (which will all be generated with `bc1` at the +beginning) can be used by others to send you Bitcoins. Someone can just +copy-and-paste the address into their wallet to send you funds. + +{{< img alt="bitcoin addresses" src="/pix/bitcoin-03.png" link="/pix/bitcoin-03.png" >}} + +### Receive + +Click on the \"Receive\" tab and then click \"New Address.\" That will +pick your first unused address which will appear on the right side. You +could copy this from the \"Addresses\" tab, but this tab also generates +a QR code which will appear to the right as well if you click on the +\"QR Code\" subtab. + +{{< img alt="receive qr code" src="/pix/bitcoin-04.png" link="/pix/bitcoin-04.png" >}} + +#### What is the QR code for? + +In case you don\'t know, a QR code is a way of storing text information +in a format that can be scanned by a phone. If someone has a wallet +program on a phone, they can easily scan the QR code on another screen +to avoid having to copy your address over or even worse, write it +manually. + +### Let\'s receive donations on our website. + +Save the QR code and the wallet address it corresponds to (starting in +`bc1`). Now simply put these on your website and anyone can send Bitcoin +to them. Bitcoin users will know how to scan and use them. |
