Bitcoin Core Wallet, everything you need to know – Bit2Me Academy

CAs we mentioned before, Bitcoin Core is the official customer or purse of Bitcoin. This client was created by himself Satoshi Nakamoto in the early days of Bitcoin and ever since then it’s been the purse of reference of the Bitcoin. In fact, Bitcoin Core is a full wallet which implements all possible Bitcoin functionalities.

But from its birth until now, a lot has changed in Bitcoin and Bitcoin Core. That is why, we have decided to create this post to help you learn about these changes and use Bitcoin Core without any problem. And it is that since Bit2Me AcademyWe seek that those who start in Bitcoin and the world of cryptocurrencies have the best possible experience. As we have already explained, there are many ways to store your bitcoins and cryptocurrencies. Among them Bitcoin Core is only one of them and at least for Bitcoin, the most complete that exists. Of course, at Bit2Me we have also created a wallet for Bitcoin and other cryptocurrencies very easy and simple to use which you can access from this link.

However, here we will focus on Bitcoin Core and everything that the official wallet can offer us, join us.

Installing Bitcoin Core

Your journey to use Bitcoin Core begins on the official website of this wallet. To get there you just have to access from this link. From this website you can download the official Bitcoin wallet and start using it. You have several options, you can download the software for the Windows platform, Mac OS and Linux. But you should be aware that these versions are only compatible with 64-bit operating systems. Check your computer and installation so that you can meet this requirement. The other requirement is to have at least 300 GB of hard disk to be able to store the Bitcoin blockchain. This is important because Bitcoin Core downloads a full copy of the blockchain and its size ranges from that number.

One of Bitcoin Core’s strengths is that it offers high levels of security, privacy and stability. However, it has fewer features than others that already exist on the market, and is recommended for a more advanced user.

Download and installation

1. First of all make sure you have at least 300 GB available on your hard drive.
2. We downloaded the latest stable version from bitcoin.org for our operating system.
3. In case we want to, we can also check the version signatures.
4. We run the downloaded installation file and proceed to install Bitcoin Core on our system as if it were any other application.
5. Once installed we open the executable file and check the path where the files related to the wallet will be stored. It is recommended to leave it in the default option
   • En Windows: Windows key + R ->% APPDATA% Bitcoin, or in:
     • C: Documents and SettingsYourUserNameApplication dataBitcoin – For Windows XP
     • C: UsersYourUserNameAppdataRoamingBitcoin – As of Vista
   • En Linux: ~ / .bitcoin /
   • En Mac: ~ / Library / Application Support / Bitcoin /
6. From here, continue until you click OK and wait for the wallet to be finished opening after the relevant checks and creation of our first wallet file “wallet.dat”.

Bitcoin Core Wallet Items

Once the whole process has finished, the main screen will open where we have to differentiate the 5 options that the menu offers us and which are the ones that we have to manage from the beginning. Quiet! They are very intuitive.

General view

In this section we are shown the general state of our wallet. You will be able to see from the current balance to recent transactions and status of the synchronization with the blockchain. In short, you will have all the necessary information on hand so that you can monitor your available balance and synchronization with the network at all times.

Send

In case we have to make a payment or send bitcoins to a contact, we must access the tab Send. From there we will have access to all the necessary elements to generate our Bitcoin transaction. First, you will see the space where you must place the Bitcoin address destination. There you can paste or write the address that the receiver has given us. Next we indicate the amount of BTC to send, we leave the default commission (since it is the incentive that will go to the miners in charge of validating the transactions) and we give it to send. As simple as that!

To receive

This process contrary to the option to send. In this case, we would be the ones who would provide a payment address to the issuer. Don’t be scared! Although there may seem to be many fields, they are optional. If we click on request payment directly, our first address will appear where we can start receiving payments.

Transactions

An important point of this purse is the section Transactions. In this tab you will have access to the complete history of all the transactions that we have received in our public addresses, both in and out. It is advisable to label all our receiving addresses with a keyword or phrase that will allow us to later remember what that sending or receiving was due to.

Is this the purse I need? Can you help me?

This wallet is heavy, takes up a lot of hard disk, and is not suitable for everyone. How do I know if it is the wallet I am looking for? It is your wallet if you are looking for any of these points:

• I am interested in a wallet that does not delegate the connection to the Bitcoin network to third parties.
• I want to support Bitcoin as a project.
• I want the reference wallet that implements the official changes before anyone else (normally).
• I am a developer and I would like to have my own node to interact from my software with the Bitcoin network without depending on third party APIs.

Without a doubt this is one of the best wallets if you can afford it, you contribute to the network, but if this is not the wallet you need, we recommend something simpler. At Bit2Me we have thought about this and therefore we have created Bit2Me Wallet. With Bit2Me Wallet, you no longer have to worry about storage space, wait for the wallet to sync, or keep an eye on its periodic backup. With Bit2Me Wallet you can access, manage, send and receive payments in Bitcoin and other cryptos quickly and easily. All you have to do is create your account and thus enjoy the power of Bitcoin.