Login to Coinbase, go to 'Accounts' and then click on the 'Receive' button for your Bitcoin account. This will display a QR code on your screen. Now open up your paper wallet to reveal the private key and QR code. Now, scan your private QR code using your phone's wallet software.

What is Bitcoin Wallet

• Send Bitcoin from Coinbase. Okay, so you’ve purchased some Bitcoin and you now have it sitting in.
• Press Deposit Bitcoin. Scan, copy, or share your Cash App Bitcoin address with an external wallet. Confirm with your PIN or Touch ID. Bitcoin withdrawals and deposits must be enabled to get started. You can deposit up to $10,000 worth of bitcoin in any 7-day period.
• However, when I click on 'Add new deposit address' in my wallet, I can see a 34-character long code. Next to it, there is a button 'Deposit with Bitcoin client', but when I click on it, an empty tab opens in Chrome. In Chrome's address bar, I can see the 34-character long code and the prefix bitcoin.

The bitcoin wallet is a means to access your funds, transfer and transact. We will discuss the general principles and practices of a Bitcoin wallet. Along with this basic information, we will learn how to add money to the bitcoin wallet and the advantages and disadvantages of different types of wallets.

Downloadinga Bitcoinwallet will be your first step towards your cryptocurrency Journey. Itwill be a medium to access your funds and you can also use yourcryptocurrencies for purchasing goods as well as transfer and from exchangesfor trading. Before we going to deep let’s start with basic details.

How to usea Bitcoin Wallet?

As we all knowthat the Bitcoin is a digital currency. It doesn’t exist in physical shape orform and owning and storing it is an entirely different approach than with thetraditional assets. You can’t store your bitcoin currency in a safe or vault.The currency only exists as lines of code on the Blockchain. Which is alreadysecured by the network. These line of codes are popularly known asCryptography. it’s your private keys that are used to access your publicBitcoin address and sign for transactions that need to be securely stored inyour wallet.

Only the holder of these private key will be able to confirm the transaction when they send or spend Bitcoins.

So, unless your private keys are safely stored in a wallet, you will always be at risk of your funds being stolen. before we compare crypto wallets, Let’s have a quick look at the major difference between private and public keys.

PrivateKey Vs Public Key

A private key is avariable in cryptography that allows a holder to access his or her cryptocurrency.A private key is an essential aspect of bitcoin and altcoins, and its securityhelps to protect a user from theft and unauthorized access to funds.

On the other hand,Public key cryptography is a cryptographic system that uses pairs of keys: thepublic key and private key. Public keys which may be spread widely, and privatekeys which are known only to the owner. Both public and private key are builtthrough the cryptographic algorithms based on mathematical problems to produceone-way functions.

Types ofWallet

Below we have mentioned five different types of wallet which you can use to store your keys. Let’s have a look:

1. Paper Wallet: We can define a paper wallet as apiece of paper where your private and public key are printed together. Usually,the keys are printed on a paper wallet in the form of QR code so they can bequickly scanned in the case of receiving or sending Bitcoin.

2. Mobile Wallet: A mobile wallet is a softwareapplication. You can easily download it on your smartphone. A mobile wallet isa necessary tool for anyone that often uses cryptocurrencies to pay forpurchasing goods or trading them on a daily basis.

3. Web Wallet: A Web Wallet is a web serviceprovided by 3rd parties. There are thousands of companies provide this serviceby storing your keys on an online server. This server is accessed andcontrolled by the company.

4. Desktop Wallet: A desktop wallet is software. Which you can easily installed on your computer. It stores the private key on the hard drive of the system.

5. Hardware Wallet: A hardware wallet is a specialtype of bitcoin wallet which is built to store your private keys in offlineaway from the unsafe online environment.

How to add money to Bitcoin Wallet

Bitcoin walletsare used to protect our precious coins. it provides a user-friendlyenvironment, with full-on 24/7 customer support. So here we will discuss how toadd money in your bitcoin wallet.

Step-1: First, you will have to buy bitcoins. You need to find someonefrom whom you can buy bitcoins. You can also purchase bitcoins by using someonline platform.

Step-2: The next step is to put them in a wallet so you keep themsecure. Now, you will have to choose a wallet according to your preference.

Step-3: Go to the Bitcoin client address. Now, get a Bitcoin addressfrom the “Receive coins” tab. Using a new address for each sessionwill increase your anonymity.

Step-4: Now, Transfer your Bitcoins to the new client. After thetransaction, they should appear in your client section.

CongratulationsYou have entered the very interesting world of cryptocurrencies. Now, you areall set to send your Bitcoin to friends, purchase goods, or send it toexchanges for trading.

Author Bio

Sujit is a Crypto enthusiast and a blogger by passion. He Works for a Crypto news Company Cryptoknowmics. Cryptoknowmics is one of the best companies in this industry because they have the passion to provide users the relevant crypto, bitcoin, and altcoin news today. You can follow him on LinkedIn and Twitter too.

A lot of people have gone through our training on how to make their first purchase of Bitcoin, and then how to use that Bitcoin to buy other specific altcoins.

But there is one last piece to this puzzle missing.

And that is how to add Bitcoin to your offline or hardware wallet.

This step is extremely important.

When you first buy any sort of cryptocurrency, you most likely are using an exchange to do so.

There are other ways to purchase Bitcoin, like using a Bitcoin ATM machine, but 99% of people will be using an exchange to get their hands on this digital gold.

But there is a risk to this.

The Risk Of Leaving Your Bitcoin On An Exchange

The risk is that you are leaving your Bitcoin open to attacks from hackers and thieves.

What you must understand is that when you sign up to an exchange, your account is associated with cryptocurrency public addresses.

This means that you have your own destination that you can share with others to send and receive Bitcoin and other cryptocurrencies.

How to find your public address is pretty much the same for every exchange, so if you know how to find it on one, you’ll easily be able to find it on any other one.

So, as an example, here is how you find your Bitcoin public address on Binance:

You go to the top right corner and hover over “Funds.”

Then click “Balances”.

This then brings you to a page of all of the cryptocurrencies available for purchase on the exchange.

Assuming we want to know our Bitcoin public address, type in “Bitcoin” in the search bar.

Then click “deposit”.

Here is where your Bitcoin public address is.

If you bought Bitcoin through Binance, this is where your Bitcoin would be sent.

If you also bought Bitcoin on another exchange – let’s say Coinbase – and wanted to send it to Binance so you could purchase another cryptocurrency with it, this is the address you would copy and paste to do so.

But there is a problem with this.

The problem is that you only have access to this address: your PUBLIC address.

But you DO NOT have access to your PRIVATE address.

This is why you NEVER want to leave your cryptocurrencies on ANY exchange.

Think of your private address as the password to your bank account – if someone knows what it is, they can simply login in and drain your account.

I’m not saying that anyone at Binance has access to your private key, but what I AM saying is that your private key is stored online.

And YOU don’t even have access to it.

And this is a huge problem.

You should never store your Bitcoin, altcoins, or any other cryptocurrency in a wallet that stores its private key online.

Especially not an exchange wallet.

How To Deposit Money To Bitcoin

So what you have to do is deposit your Bitcoins into an offline (hardware) wallet.

The first step in doing so is to actually get yourself a hardware wallet.

Bitcoin Hardware Wallets That Are Safe To Deposit Your Funds

The 3 most popular, highly-praised hardware wallets in terms of safety in adding Bitcoin to are:

These wallets are top of the line and are the highest-security hardware wallets money can buy.

What Information Do I Need To Add Bitcoin To My Hardware Wallet?

Okay, so now you bought a hardware wallet.

Great!

The next step to secure your Bitcoin is to add it to your hardware wallet public address.

The wallet that I personally use is the Ledger Nano S.

So I will use this as an example.

Now, before we get into how to actually do this, let’s understand one thing:

Sending and receiving Bitcoin between wallet addresses is universally the same process.

What I mean by this is that depositing your Bitcoin from your Kucoin exchange wallet to your Trezor wallet is the same process as depositing Bitcoin from your Cex.io wallet to your KeepKey wallet, which is the same process as depositing your Bitcoin from your Coinbase wallet to your Ledger Nano S wallet.

This is because, in every instance, all you need are the same two pieces of information:

• Your login credentials
• The public address of the destination wallet

If you have both of these things, you can successfully add Bitcoin from your online wallet to your offline wallet.

Funding Your Bitcoin Account And Adding It To Your Wallet – The Entire Process

Now it’s time to figure this whole process out.

How do I go from having my money in hand, to buying Bitcoin with it, and then adding that Bitcoin to my wallet?

This is how you do it.

For this example, I’m going to use one of the most popular exchanges and one of the most popular hardware wallets.

We will be taking our Bitcoin from our online Coinbase wallet, and depositing it into our offline Ledger Nano S wallet.

1. Buy Bitcoin On Coinbase.

So, obviously, the first thing you have to do is actually buy the Bitcoin.

There are many places you can buy Bitcoin from, but for the purposes of this example, let’s say we use Coinbase.

We actually have a full, step-by-step walkthrough of exactly how to buy Bitcoin on Coinbase.

We will continue on, assuming you have gone and read this article.

2. Locate Your Ledger Nano S Public Address.

Now that we have actually made our Bitcoin purchase, it is now time to take it off of the exchange and place it in our safe, offline wallet.

To do this, we must find the public address of our hardware wallet.

For the Ledger Nano S, this how you find it:

Go to the Ledger Wallet website and download the Ledger Wallet Bitcoin & Altcoins.

Then, plug in your Ledger Nano S.

When you plug the Ledger Nano S into your computer, this screen will show up:

Here, it will ask you if your Bitcoin address is Segwit or Legacy.

For fear of going too far down the rabbit hole here, simply select “I don’t know” for now.

We will explain the difference between Segwit and Legacy addresses in a future article.

Next you will see this screen.

Click “receive.”

Here, it will display your public Bitcoin address.

This is the wallet address that you will be adding your Bitcoin to.

3. Fund Your Wallet By Depositing The Bitcoin To This Public Address

Now that you have the public address of your destination offline wallet, you have to go to Coinbase and send the Bitcoin to it.

Note that I have bought $100 worth of Bitcoin in order to show you how this transaction works (a little less because of the transaction fees and volatility).

On your Coinbase dashboard, go to “Accounts”.

You’ll see the total amount of Bitcoin in your Coinbase wallet on the left.

We want to send the Bitcoin from this wallet to our Ledger Nano S wallet.

Click “send”.

Here is where you copy and paste your Ledger Nano S public address.

Keep in mind that, as I said, this process is the same for all exchanges.

You simply find the specific cryptocurrency you are trying to fund your offline wallet with, and then click either “send” or “withdraw”.

Most exchanges actually saw “withdraw”.

But the option is the same.

Two areas typically pop up when you do this:

• The destination public address
• The amount you are sending

That’s all the information your have to put it.

You just need to know the public address of the wallet you are funding, and the amount you wish to send.

In this case, I’m just going to send the entire amount.

How To Fund Bitcoin Wallet

Click “continue”.

4. Confirm This Transaction Via Email

Depending on the exchange, there may be a verification email sent to you in order to confirm this transaction.

This is simply an added security feature in order to make sure it is actually you that is sending the money.

Once you find this email and click “confirm”, the transaction is final.

Now all you have to do is wait for the funds to be added to your wallet!

This can take anywhere from a couple minutes up to an hour.

So don’t freak out or stress if you don’t see your wallet funded right away!

The funds are on their way and will be deposited shortly.

If you prefer video, here is a great video detailing the steps of transferring bitcoin between wallets:

Adding Bitcoin To Your Wallet: Closing Remarks

And that’s it!

You have officially sent, received, and successfully funded your Bitcoin wallet!

That wasn’t so hard, was it?

Admittedly, I was on the edge of my seat the first time I did it, too.

How To Add Money To Bitcoin Account

With this whole world being so new to me at the time, it took a while for me to actually summon the courage to actively send my Bitcoin from one place to another.

How To Add Money To Bitcoin Wallet

But after the first few times, I got used to it.

And you will, too!

Just be sure to take your time and follow this guide step-by-step.

Before you know it, you will have safely added your Bitcoin to your offline wallet!

Good luck!