It’s always handy to have some Bitcoin stored on your cellphone. Using your phone, you can scan QR codes for quick transactions or deposits to exchanges. My favorite Bitcoin wallet for my phone is Breadwallet. It is secure, extremely user-friendly, and one of the most trusted apps for mobile crypto storage. To be clear, you should not usually store large amounts of cryptocurrency on a phone. If you do however, you should know how to properly set up a wallet and make sure that you never lose your wallet information. Today I’m going to walk you through setting up a Bitcoin wallet with Breadwallet.
Step 1: Install the Breadwallet app
Step 2: Create a New Wallet
Step 3: Set a PIN
Step 4: Prepare to Write Down Your Paper Key
- I always write this down on paper and store it in a fire safe. I also keep a text document on a USB drive with this information. DON’T LOSE THIS INFO.
Step 5: Write Down Each of the 12 Words
Step 6: Wait For the Wallet to Sync (this will take a few minutes)
Step 7: You can now send and receive Bitcoin using the “Send” and “Receive” buttons on the bottom. Now, you just follow the steps outlined in my earlier posts. You’ll need an address to send to for sending Bitcoin and the “Receive” tab will simply provide you with your own address or a QR code so you can easily receive Bitcoin from others.