Q&A for How to Create an Online Bitcoin Wallet

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Is it safer to put your Bitcoin wallet on a phone or a desktop computer?

wikiHow Staff Editor
Staff Answer
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wikiHow Staff Editor

Staff Answer

A software wallet on your desktop computer is typically going to be safer than a mobile wallet, assuming your phone has constant internet access. You can use an old phone essentially for cold storage, with nothing on it but your Bitcoin wallet. Then, all you have to do is turn off WiFi when you're not using the wallet. Otherwise, a software wallet is typically safer. Keep in mind, though, that a software wallet on your computer is only as safe as your computer itself. If your computer is vulnerable, so is your Bitcoin.

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Question

What is the best wallet to hold bitcoins?

Community Answer

The best wallet to hold bitcoins is a cold wallet at bitaddress.org or official wallet at bitcoinofficial.org or Bitcoin Core.

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Question

Do I get interest after creating my own bitcoin account?

Community Answer

No. A wallet is just for storing your Bitcoin, and there is no way to get interest. Websites that claim to offer it are usually scams so steer away from them. There is no such thing as free money.

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Question

Is there a way to use Bitcoin account wallet on an Android mobile phone or computer desktop?

Community Answer

I use freebitco.in. It is also a faucet and earns interest on your savings.

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Question

Can I use a USB flashdrive as a wallet?

Community Answer

No, but you can use a hardware Bitcoin safe, which resembles a dongle and can be easily carried around.

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Question

How much money do I need to start a Bitcoin investment?

Max Diamante

Community Answer

You can find an exchange that allows small orders, like $5 or something. Look for exchanges in your country, local transfers are usually free or very cheap, so the chance you'll find an exchange with a small minimum order amount in your area is much higher.

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How can I invest in BTC if I'm from Akwa and born in Nigeria?

Community Answer

You don't need it to be in a specific country. You can buy bitcoins from a US server or any other server using a VPN.

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