How Do I Set Up a Bitcoin Wallet?

You have multiple choices when it comes to setting up a Bitcoin Wallet, such as online options and offline options.

Offline Wallet
An offline wallet can be a great option if you want to store Bitcoin on a physical drive that you have on-hand. Simply download the wallet and install it. There are versions for Windows, Mac, and Linux available, as well as the Source code, if you’re interested in looking into it.

After installing the wallet, it will be unusable until it synchronizes with the network. The first few years go by quickly due to low volumes, but it starts to take a while after 2012. It can take anywhere between 24 to 72 hours to fully synchronize with the system. You can close the program and shut down the device or put it to sleep during this time and it will attempt to re-synchronize after you start the program again.

As of May 2016, the full blockchain size is over 65 GB.

Online Wallet
If you wish to have a wallet that is accessible from any device, an online one might be the right choice for you. With these wallets, you’re also able to purchase BTC through their exchange. Here are some that we recommend that you consider:

After verifying your identification with an online representative, you’ll be able to purchase BTC in any currency from around the world. However, their service is largely available only for residents in the European area. You’re able to purchase BTC using the following systems:

  • Skrill
  • Online Bank Transfer
  • OK PAY
  • Sofort Überweisung
  • Dotpay
  • Neteller (Coming Soon)
  • Credit Card
  • Bank Transfer

Need help signing up with Cubits? See our detailed guide. Webcam and microphone or mobile device required.  Approx signup time: 10 minutes or less

After some quick verifications with an official government-issued ID and address verification (with a bank/credit card statement, utility bill, or proof of residence certificate), you’re able to buy BTC with the following currencies:

  • EUR via Fidor Bank AG (SEPA/Wire Transfer)
  • USD via PayCash bank transfer
  • GBP via PayCash bank transfer (SEPA/SWIFT)
  • JPY via domestic deposit

Need help signing up with Kraken? See our detailed guide. Approx signup time: 15 minutes or less

There are other exchanges out there which you can certainly use as well, but make sure that whichever one you choose is fine with transactions with gambling companies. For example, Coinbase might close your account if they find that you have transactions with us or any other Bitcoin gambling provider.

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