Bitcoin can be an intimidating cryptocurrency, so it’s no wonder many people have trouble initially setting it up. This complete guide will walk you through setting up a wallet and transacting with Bitcoin Evolution.
Step 1: Creating a Bitcoin Evolution Wallet
The first thing you’ll want to do is create a Bitcoin Evolution wallet. Luckily, this process is pretty straightforward. If you’ve ever set up a bank account or installed a piece of software on your computer, you’ll be able to handle this step easily.
First, visit the Bitcoin Evolution website and download the software. When the download completes, run the file and follow any prompts during the installation. Once you’ve done that, launch the application. Note that you should only have one Bitcoin Evolution application running your computer at any time; multiple instances could destabilize your data or cause other problems down the road.
Step 2: Setting Up Your Wallet
Once again, this step is pretty straightforward. The app will automatically run a quick setup process to ensure everything is in order. You’ll get your first glimpse of the interface and begin the process of signing up for a Bitcoin Evolution wallet:
Under “Create a new wallet,” enter a secure password and click “Create Wallet.” Once you’ve done that, you’ll be shown a 12-word passphrase; this is your private key, so make sure to write it down (or even type it out twice!) and keep it in a safe place. If you lose this key or forget your password or private key, you won’t be able to re-access your bitcoin.
Step 3: Configuring Your Bitcoin Wallet
Next, you’ll want to set up your Bitcoin Evolution wallet to help secure your bitcoin. First, let’s go over some of the basic security features:
The default setting on the wallet is “Standard,” which uses a Blockchain network instead of the more secure “Legacy” mode. If you’re interested in staying updated with Bitcoin technology and improving your privacy, you’ll want to ensure that this setting is enabled.
After you’ve done that, click on “Advanced Settings.” You’ll now choose how many confirmations are required before transactions are considered complete. Always set this to at least two confirmations. Signing up for a Blockchain service will also need a Bitcoin Evolution wallet with 2+ confirmations, so it’s wise to get familiar with the process now.
Next, ensure that your “Display options” are set to “Show transaction information.” This will enable you to see the number of confirmations on any particular transaction and give you a complete view of your portfolio at any time.
For “Receive/send addresses,” you’ll want to ensure they’re on the “Always use current” setting. Doing this will ensure that your private key is never shown in regular view, a privacy feature offered by Bitcoin Evolution. The address for this particular wallet will be the same as the one used to send bitcoins, so if you want to continue using Bitcoin Evolution for receiving payments, you’ll want to ensure that this setting stays on.
The bitcoin evolution reviews show that the app’s interface is pretty straightforward to understand.
Step 4: Managing Your Bitcoin
One of the last things you’ll want to do before taking your first steps is managing your bitcoin. Bitcoin Evolution offers several helpful tools that can help you track the status of your wallet, your portfolio, and more. Here are several to get you started:
- Bitcoin Balance: This shows the current balance for all your bitcoin wallets. If you’re not sure about which bitcoin wallet/address belongs to which bitcoin transaction, this feature can help confirm that.
- Total Bitcoins Held: This shows how many bitcoins have been stored in your wallet. Keep an eye on this number to ensure it doesn’t fluctuate wildly daily.
- Address Book: This helpful tool lets you keep track of the digital addresses used to receive bitcoin payments. This feature can help you keep track of payments that were sent but can’t identify the recipient wallet by name, something the “Receive/send address” feature doesn’t offer.
- Transaction History: This is like a receipt for every transaction made over the past 24 hours. You’ll be able to see precisely when and where each transaction was made and how much bitcoin was involved.
In conclusion, that’s everything you need to know about how to use Bitcoin Evolution. You can now set up your wallet, start sending and receiving payments, and keep track of everything on the go.
