Learn How To Securely Store Your BitCoin and Crypto Online
Hi, Sean here from CoinYou.Co. Its our mission to teach regular people how to use crypto because it is the future of money. If you want to know the benefits and why you should care about crypto, check out this short video.
Although it seems intimidating for people who are not good with technology, it’s actually really easy to use crypto.
It’s probably easier than using a credit card or bank account, but those things are so normal that people have gotten used to it.
I’m going to be using some crypto terms, so if you want to make sure you understand all of the words, check out this ebook that has a crypto glossary.
Before you send crypto to another party, first you have to buy it. Then, after you buy it, it is automatically stored in your exchange account. It’s similar to a bank account. The exchange stores your money for you, the same way a bank stores money for you. But just like a bank, an exchange can lose your money and data.
Cold simply means disconnected from the internet.
So although a web wallet is connected to the internet, cold storage vaults store data offline. Another benefit of freewallet is that you can send and receive crypto to other freewallet users without transaction fees.
Step One: Go to https://FreeWallet.org
You can sign up with your email or social login.
The email login did not work for me, perhaps because of my chrome browser. But I was able to sign up with Facebook without a problem.
Remember that passwords are very important in crypto. Check out this guide on how to handle crypto passwords.
At this point it is important to set up 2 factor authentication. This is because it is much harder for someone to steal your crypto if they have to go through 2 different forms of verifying an account. For example, if someone cracked my crypto wallet password they still would not be able to get my crypto if they were also required to confirm a text message that went to my phone.
It is a best practice to always use 2 factor authentication with very secure passwords.
Now we are going to set up 2 factor authentication. Click on the “Security” section on the top right of the page.
Now you can add 3 layers of protection to your account. Today I will teach you how to add 2 factor authentication with the google authenticator app. But you can also enable a pin number and email confirmation.
Click on the 2 factor authentication on the top and then download the app and press “continue”.
Open the app on your phone. Click on the red “plus sign”. Select “Scan Bar Code”. Take a picture of the code on the screen.
Now enter the code (which changes every few seconds)
If you entered it correctly the screen will show. Click on “go to dashboard”.
FreeWallet.org is great because it can store more than one kind of crypto.
You can explore the various cryptos supported a bit later. For now, ignore the prices section of different coins on the left and focus on the center of the page.
Click on the “Receive” Coins Section to choose which wallet you want to work with.
Click on the symbol of the Crypto Wallet you want to work with. Today I’m working with Ethereum (ETH) To check symbols of cryptos go to https://CoinYou.co/prices
Once you click on the symbol you will see the Address and the QR Code which represents the address. Copy that address by highlighting it with your cursor and pressing Ctrl C or by Right Clicking and selecting copy on Windows OS.
You can also use the QR Code.
If you want to receive ETH, simply give that address to the sender.
Once they send the ETH you can track the transaction using https://etherscan.io/
Other cryptos have similar services for tracking transactions. This is one of the great benefits of blockchain compared to the traditional financial system.
If you want to receive another cryptocurrency, simply choose a different symbol in the receive section.
If you want to send money, choose the “send” option and insert the address of the receiver, which could be a business you want to pay, a friend you want to pay, or the address of an exchange or wallet under your ownership.
You can read a tutorial on how to send crypto on freewallet.org here.
You can now transfer the funds to a more secure wallet, pay for goods and services, send friends money, or transfer the funds to an exchange and exchange it for other cryptos.
CoinYou offers tutorials on how to do all of those things. Check out the classes by clicking here.
Congratulations! You just took the first step to joining the future of money!
Knowledge is power, especially when it is about emerging technology and financial literacy!
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