Many Bitcoin blockchain wallet providers has failed to provide the services of a decentralized system, many bitcoin platforms do not allow us users to transfer funds as when due, putting many restrictions which some times end up making us not to us our fund as desired in some cases they manipulate and stealing our funds under their custody. i was a victim to this and i know many people have witnessed this too. even the government shutdown ex-changers company making it easy for us to loos our hard earned money.
However, i have taking out time to study blockchain in other to find a means to control my own fund with out anybody's interference and also reducing risk's of losing my heard eared money.
In this post i am going to be sharing the easiest way to create your own bitcoin bank, after the though days of research i have figured out this easiest steps which anybody can do.
There are other multiple ways people can store bitcoin offline using either a paper wallet or hardware options from companies like ledger or trezor, but we are going to be sharing a simple and cost less or free way of storing your bitcoin.
In my next post i be writing on how you can store bitcoin in a USB thub rather than spending 60-200$ buying tokens to store your coins offline.
CREATING AN INEXPENSIVE BITCOIN WALLET
For this project we will be needing electrum you can download it at https:/electrum.org for this operation other light weight bitcoin clients can follow a similar installation process.
1)download electrum wallet installer from https://electrum.org/#download to your program files.
this software should work in any operating system linux, ubuntu, windows and mac and android.
i will advice that the internet should be opt out or shut off your internet services and local area connections before performing installation.
locate the file in downloads in your system and run the installation.
choose the installation of location path to be C:/programfile
- after installation set the wallet to default !!! you can give it your own caption.
select create a new seed.
write down your seed phrase.
Create a password.
'###'Always remember if you lose the password or seed phrase you will not be able to recover your bitcoins on that wallet. i suggest that you write them down in a special place and not on your system. but an offline place which nobody except you will have access to.
A new bitcoin address will be generated which you can use to receive funds.
ENJOY YOUR NEW BANK
if this worked for you or you have any question kindly ask on the comment area.
remember to up-vote me and follow me for more interesting posts like this.
however you can donate
btc 1GBAzbtafuxS5EdmkkaYqXyZeNbdcvCxD5
steem 4a28ad86-c9af-4e85-b481-2d0f2f3309f5
eth 0x5c4355d4FAa59fE39Da0B35b94f9cCB4850af74d
thanks.
Disclaimer: Walkthrough editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.