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How to Open a Bitcoin Wallet Using XAPO and Coinbase

How to Open a Bitcoin Wallet Using XAPO and Coinbase

While Bitcoin is one of the best-known digital currencies in existence, primarily due to its market volatility and independent nature from financial institutions, many individuals have leaned towards using it because of its anonymity and quick processing times. If you are new to the Bitcoin market and want to get started, the first thing you will need to do is open up a wallet so that you can accept, send, and store your Bitcoin in a secure place. This article will guide you through on how to open up a wallet using Coinbase, one of the most trusted wallets online and XAPO, a newer option to date.

Choosing Coinbase As Your Wallet

    1. Head on over to Coinbase’s website and navigate to the top right-hand side of the page. There you will see a “Get Started” button.
    2. Create an account with Coinbase by inserting your first name, last name, e-mail address, and password and hit create an account.
    3. You may be required to confirm your account by clicking on the verification link that gets sent to your submitted e-mail.
    4. Once you have verified your e-mail, you will be prompted to add a phone number to your account. This is necessary as Coinbase requires a second authentication source to protect your bitcoin wallet. You will need to enter your mobile number, wait until you receive a text from Coinbase, and enter the verification code that gets sent to you.
    5. Now you will need to decide which payment accounts you want to add to your account. You can link a debit card, credit card, and PayPal. If you choose to link both a bank account and a credit card/PayPal account, you will be able to fund your wallet immediately while still receiving withdrawals to your bank. A bank account currently does not require ID verification.
    6. If you choose to link a credit card and a PayPal account, you will need to validate your identification with a government photo issued ID card. If you do not have access to a camera on your computer, you can use Coinbase’s mobile app to upload your ID that way.
    7. To add the payment methods, click the down arrow beside your name on your dashboard and click settings. This will take you to a profile screen. Click payment methods along the top of your profile page and add your accounts.
    8. The last step before your wallet is active is identity validation. This is done through an account profile form which is accessed on your profile page. Enter the information it requests and hit submit.
    9. Congratulations, your Coinbase wallet is now active and you can receive, send/sell, and request Bitcoin funds.

    Choosing XAPO As Your Wallet

    1. The first step is to either navigate to XAPO’s website and click on “Get the App” or choose to download the application from the Google Play or IOS App Stores. If you use XAPO’s website, you will need to enter your phone number, verify that you’re not a robot, and use the link that gets texted to you.
    2. Open the application up on your smartphone and follow the registration steps. You will need to enter your e-mail, provide your first name, provide the country you live in, and your birthdate. You will then need to create a four-digit pin and create a password. Keep this pin safe and written down as you will need it to access the app and the website.
    3. Next, you will need to verify your mobile phone number to unlock your wallet by getting a verification SMS sent to you.
    4. To add two-factor authentication, head over to XAPO’s main website and log in using your mobile number or e-mail address. You will need the PIN code that you created earlier. Once logged in, click on security settings in your dashboard and choose 2FA. You will be prompted to download Google Authenticator (mobile app) and scan the QR code that is provided to you or you can upload a security selfie.
    5. Congratulations, your Coinbase wallet is now active and you can receive, send/sell, and request Bitcoin funds.

    Although Bitcoin’s history has had some major highs and exceedingly shocking lows, the success and future of this digital coin looks very bright, as more and more companies are beginning to accept Bitcoin as a payment option. Thus, it is unlikely that Bitcoin is going anywhere soon!