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Blockchain.com Tutorial: Beginners Guide to Buying & Storing Bitcoin



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hi and welcome to my blockchain tutorial so maybe you're new to Bitcoin and other

cryptocurrencies you know question of where to start how to buy your very

first Bitcoin what going to do today is take you through the entire process of

creating your very first wallet all the way through to buying your Bitcoin now I

blockchain to run the most popular while it's out there there are other wallets

available as well such as coin base or Exodus I've actually got tutorials of

those as well so if you'd like to have a look then please look through the series

of these videos now I use blockchain as my very first Bitcoin boy and wallet so

and that's the reason why I've chosen this one also the fact that you can

purchase your bitcoins through credit or debit cards is really helpful so let's

take us through that process now so if you navigate to blockchain info please

ensure that you put the exact address into here maybe put it into your

bookmarks and to be always ensuring that you're going to the same site now like I

said blockchain is one of the most popular and well trusted of one it's and

obviously they're saying here there that number one digital wallets they've got

100 million transactions with 15 million wallets out there as well

so what we're going to do is go through and create our first wallet

now these wallets obviously are free as well and in here make sure that you put

in quite a complex password so that it is strong and then go through and read

the Terms and Conditions and then click on to continue what it's now done is

gone through and created that wallet for me and it's given me an identifier as

well what I now need to do is verify my email so I'm going to go to my gmail

account here and click on to this email now in here you can see that I've got a

wallet ID and now this Warner ID is almost like a username that you would

use to log in to any kind of application or almost like your kind of credentials

now this is something that you need to keep personal to you and so please

ensure that you have a copy of this wallet ID maybe print it off and put it

into a safe maybe put it to a password-protected documents

something like that anyway and keep that personal to you now obviously this is

just a test account that I'm using so I can show you my wallet ID but just make

sure you keep that personal and obviously go through and verify your

email now that's done I'll return back to my blockchain website and I'm just

going to exit out of that for the moment what I do is I'll take you through

different options here on the left-hand side and then we'll go through and show

you how to buy your very first Bitcoin and all the different options in here as

well so what you have when you first go into blockchain is like a dashboard so

from here you can send and receive Bitcoin or ether you can view your

balances you can view how the value is tracking you can go through and they

also have a mobile app as well which I find really helpful one of the good

things about the mobile app is that obviously you can use your own

additional security like fingerprinting and things like that and you've just got

a nice little app and you can download if you wish so blockchain allow you to

have two different crypto currencies which are Bitcoin and ISA so you can

have two different wallets so you have your Bitcoin wallet so when you click on

here you can send and receive Bitcoin and you can view any transactions that

you may have made and hear and then you have ether as well so you can get

started have a look at your transactions again you then have the option in here

to buy and sell Bitcoin that will go through that shortly after I've gone

through the different options you then have an exchange so in here you're able

to exchange from Bitcoin to ether and ethers do Bitcoin you have em have your

Security Center so this is the section I'm going to go through first and now

we've already gone through and we have verified our email and so that's all

good now the next thing you have is a backup recovery phase now this is really

important the reason why this is important is purely for the fact that

instead of it for example you lose your password or you can't remember it for

any reason there is no option for you to reset that password with

blockchain they don't store the passwords so what you need to do is

ensure that you have a backup recovery phrase so for any reason you can't

remember your password or you can't remember your details what you can do is

revert back to this backup phrase what it does it provides you with a list of

words so I'll just take us through there and it gives me some words so it gives

me a sort of North stairs narrow prevent and what you should do with these words

is you need to print them off again you need to put them into a safe or you need

to put them into a password-protected document or something along those lines

and have those so that they are safe to you obviously you shouldn't share those

again this for the purposes of this tutorial and I can show you those words

but you need to keep those words and save to yourself you then have a

password hint so it's just additional help in case you've forgotten it you

then have the option of level two to prevent unauthorized access to your

wallet so you can link in a mobile phone in here and what it will allow you to do

is use it like an authentication so and you can use an app such as Google

Authenticator which you can download from the App Store and what it provides

you with is like a one-time passcode so that when you go to log into blockchain

you obviously put in your wallet ID you put in your password and then it'll

provide you with a like a numeric number that will be available for 30 seconds

and you can enter that into the login script as well so it's just really

securing it and ensuring that you know it is you that is trying to log into

your blockchain wallet so you can go through and you can enable those steps

in there as well you then have an advanced level of

security as well where you can block tour requests if I now take us through

to our settings so in here it provides me with my wallet ID so this is the ID

that we got provided to in our Gmail earlier on so this is my unique wallet

ID that is personal to me that I must not share with others so this isn't the

address that you used to send or receive Bitcoin or anything like

it's purely your you know your credentials so to speak in here as well

you can pay your mobile phone like I explained you don't have preferences so

in here you can put in your mobile number you can choose a wallet language

there's a lot of different languages within this and section obviously I'm

English so I'm keeping that to English you can then choose your local currency

again I'm from the UK so mine's currently set to GDP but there's loads

of different currencies in here that you can use

you then have Bitcoin unit so and you can obviously choose from Bitcoin Miller

Bitcoin or bits you then have notifications so you can be notified via

email or via SMS when you receive Bitcoin you then have an things like the

auto logout so this could be really important if for example you you know

you keep yourself logged in and you forget to sign out what you need to do

is do you need to you know you can change the different period of time here

so it automatically logs you out and no-one can nip onto your computer and

start using it now I personally would recommend clicking on the sign up button

as soon as you're finished but this will just give you kind of like an additional

layer again and ensuring that you can you know obviously log out of this

account now if you are using a public computer such as an internet cafe or

using someone else's computer again just make sure that you click on sign out but

you do have that additional layer of auto log out there as well in terms of

security so this is where we have the wallet recovery phrase so like I said

this is just in case you forget your password you can change your password in

here as well you have your password hint you've got a second wallet password this

is where you can enable that two-factor authentication with that one-time code

as well and you can have a remember and there as well then you have a drive

addresses so in here you can manage different addresses say for example you

wanted to categorize things within your Bitcoin wallet and you wanted to say all

my expenses and you want to put all your categories in there as well or

everything this receipts everything that comes

a certain address it just kind of you are your own bank so what you're

essentially doing just categorizing things and explaining you know what the

different addresses are for you've then got an FAQ section in here as well so

you know very simple questions being answered if you've got any questions you

want to ask me please feel free but this is in here as well so it's just kind of

helpful it's what I'm gonna do now is go to buy our first Bitcoin now before you

go through and buy your first Bitcoin it's always important that you and

verify all your information so put in your mobile number they might ask you

for further verification such as your address and where you're from and your

date of birth and things like that so just make sure that you go through all

of those steps so in here you can see that if I type in an amount which is 100

pounds it'll then give me my conversion into an Bitcoin what it also does it

tells me the current value of Bitcoin at the moment or I could choose whether or

not I want to purchase in and US dollars or Euros and different types of options

in here as well if I then click on to my Bitcoin in here you have two different

options so like I said previously and the really good thing about blockchain

is the fact you can purchase Bitcoin using a credit or debit card or via bank

transfer now when I first bought my first Bitcoin and I made a little bit of

an error and I thought you know I wanted to save a little bit of the and the fees

that were being charged in here and so as you can see credit cards have got a

3% and fee and bank transfer has got a not 0.25 percent fee so what I thought

I'd do the first time around is I'm saving myself on the fees and choose

bank transfer now the one thing to be aware of here is if you go for bank

transfer like I have and you know different banks vary but however from

the UK I actually got charged a 25 pound international fee so instead of

receiving a fee of for example 3% so if I was looking at a hundred pounds I've

been looking at paying 3 pounds instead of paying 3 pounds I actually paid 25

and so just be a little bit wary of which option you choose in here I quite

like the convenience of the fact that you can use a credit or debit card in

here as well so I'm going to select that option and go to continue

so in here is a confirmation of your order and so it allows you to and go

through you can edit it in here as well and it'll tell you about a Bitcoin it

tells you your payment fee and and your total cost if you then click on to

confirm so what I then did was I put in my credit card details obviously I

didn't share those and then I went through and confirmed that and then

bought my first Bitcoin so what I'm gonna do now is show you how to receive

Bitcoin from others so if I click on to request you can select the type of

currency that you would like to receive so whether or not that be a Bitcoin or

whether or not that be ether you're then provided with an address so this is like

a one-time address for this transaction so I could and copy this link and send

it to the person that's sending me the the cryptocurrency or I can view the QR

code in here as well so if they've got a mobile app and they want to send me and

you know cryptocurrency then what they can do is simply and scan in that QR

code or again from this screen you can simply click copy ill then state that

it's copied you can then send that across to them if you then like to send

Bitcoin or ether of course and you can often see select again you select the

type of currency and then you put in their destination address so you would

either put in an address or a destination any time that you're putting

in an address or a destination you really need to make sure that you I'm

going to make sure that it is exactly correct so check every single letter CH

at the beginning check the end make sure it's exactly right

because once you've sent that Bitcoin it's gone but you can also use that QR

code again in here as well if you so wish and keeps a little bit more secure

but it depends on you know what you're sending to and whether or not you have

that available or not and if I now choose and to send a certain amount for

example if I put in five US dollars here again it does that conversion for me and

then it allows me to put in description so I could put in a description in here

to the person that I'm sending it to and and then it will and obviously give it a

description so it's just like I said we're our own bank

we're just categorizing with paying descriptions in here just so we can

track things through through the wallet we then have an option in here for the

transaction fee so you have an option to go regular which is they say the current

confirmation time is one hour plus or you can go priority where it will do it

under an hour now I tend to find I'm mostly used and the regular system

purely for the fact that it normally happens under an hour anyway and but you

know it's up to you which way you choose and obviously you know you've got the

rates and how much you're actually gonna be charged to this and as well if I now

click on to continue it would then take me through the process of sending that

Bitcoin and it would send that for us so my blockchain tutorial I hope that you

found it useful if you're interested in seeing more from this series then please

hit subscribe there's a few other tutorials in there as well that you

might be interested in such as coinbase or Exodus if you liked it then please

give me a like or if you have any comments please put them below thanks

and I'll see you soon