How to Set Up Your First Cryptocurrency Wallet – With Full Demonstration + Transaction
In this video, I am going to show you how you can set up a cryptocurrency wallet. Also, you will learn how to receive and send cryptocurrencies.
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This was so incredibly helpful — thank you!!
❗️Attention❗️
My crypto-related videos can only be found on my YouTube Channel as I personally use only this page for my uploads! If you spot my videos or parts of it on other websites or social media, they were taken without my permission. Be aware of scams and if you can, report it!
i’m new to this, can i use this wallet for NFT
@Blue Star Industrial Arts You can also acquire crypto by mining if you have a desktop PC with a good graphic card. As an example if you want to mine Ethereum you would need a Graphic Card with at least 6GB of RAM. Alternatively you can mine Ravencoin or other crypto currencies and have the mining pool send your earnings to your wallet.
@Blue Star Industrial Arts How to Buy Cryptocurrency on Mobile for Beginners – Bitcoin, Bitcoin Cash, Ethereum, XRP, Dash…:
https://youtu.be/15oKacmTUTA
It works also on desktop. So you need to buy it on an exchange. My recommendation would be binance.com or coinbase.com
@Melissa Van Dijk I don’t have any crypto currency. How do I get it if I want to acquire some? How do I exchange $$$ for Bitcoin?
@Blue Star Industrial Arts Hmm, what do you mean by that? So you have a wallet address, and you need to send it to that address. So, where do you currently have your Bitcoin or Ethereum?
How To Use a Bitcoin Wallet | Full Demonstration (Exodus, Bitcoin.com Coinbase and Dash):
https://youtu.be/1oAPfAhtN1Y
Hi Melissa! Great Video, Perfectly explained. I have a question for you. I am currently in Ethiopia where cryptocurrencies aren’t as accepted and active as in Europe America Etc… So even if I had some coins in my wallet I wouldn’t be able to use them locally unless I exchange the coins to fiat. How do you propose I go about doing that? Thanks in advance.
@Melissa Van Dijk Well that is a bummer. I will keep on hoping for better days and keep an eye out for your next video. Thanks again Melissa 🙂
Hello Leul, that’s currently a real issue. You have to exchange it for fiat as you said or you have to use a crypto card. But I doubt that most are available in your country. It is already very tricky to get a crypto card here in Europe. (Luxembourg) It has a lot of fees! So there is no way at the moment if nobody is accepting it. You can only try to get a crypto visa card or MasterCard. But the best way is still cashing it out on your bank account or finding someone in your area to exchange it.
Generally speaking, they are not as accepted here as people might think, I am not sure about the Us, but here I can only buy food online with crypto, that’s about it 😉
I am recording videos about this over the coming weeks, and I started today with the basics. But will get into this as well.
Hi Melissa, thank you for the great video! I am new to this, so I have a question…once I purchase crypto currencies on Binance and store them in Exodus, how can I convert them in spendable money? You said that we can send money instantly (for example ETH) to a family member that lives in another country and needs money immediately…how can this family member use in real life the money we’ve just sent? I don’t fully understand this point…
@Andi are you also a new bee in the crypto world
@Andi yap
@Rebecca Charles she literally said she is new to this.
Are you new to the crypto world
Sell the crypto and get your cash
thanks for keeping this clear and simple. The most difficult thing about crypto is not when to start but how to start… Its gotten easier and more secure it seems
Hm, that would be another great video to record ?
I was just curious why, when you transferred the value of Eth $10.47 and you also received $10.47. Why was the fee not deducted and reflected in the transfer? I ask because my own situation as a newbie I transferred 1000 of my asset and only received 984. The fee of 16 was a miners fee that I was not aware of at that time. Always a learning curve with cryptos? Anyway Your video presentations are great please do more. ?? Old guys like me not really into makeup.sorry?
@Alexander Shearer ?
@Melissa Van Dijk appreciate your feedback ?
During that time, the Ethereum network wasn’t very busy. It can only handle a certain amount of transactions per second. And because people are now trading all kinds of tokens on it, it became costly. So you are currently paying a huge premium to get the transaction through. You can set custom fees, but it may take hours or even days to get them because it is optimized to get the most profit 😉
I will do more presentations in the future, but the transaction fees are very high, and that’s why I can’t because people cannot afford it anymore. I hope that it will become less expensive with future updates to do crypto videos again. ? But it may take another few months!
Thank you Melissa, you make it very clear and concise.
You are welcome!
Great video. Very informative. Sorry for asking a silly question. How did you cut and paste the crypto address from one phone to the other?
You can send the crypto address per mail, or messenger like Session. Or if you can, just scan the QR code with the other phone 🙂
Thank you, Melissa. You were very detailed. Your helped a great deal.
Glad it was helpful!?
Thank you! Well done. I wish it would have been two separate videos for computer & phone, but I think I can go back through and find the parts that apply to do both.
Are you new to the crypto world
But thanks though
Yah quite a long video
@Melissa Van Dijk Thank you!
You may want to watch the following video:
Beginners Guide to Cryptocurrency (Secure Bitcoin Cash Wallet Setup, How To Buy and Use It):
https://youtu.be/GS-l2HEL5Bw
That was an excellent explanation. Thanks!
You’re welcome! ?
thanks for the help, it’s very clear and straight forward
Thank you! Glad that it was helpful! 🙂
You are the best Melissa, after some months i have watched this video now i decided to buy my first bitcoins and use the wallet as u explained here, all working ❤??
Hello Gustavo, what app did u use to buy your 1st Bitcoin my friend? I’m trying to use an app to create my own personal crypto wallet to receive BTC payments from friends/people/businesses. And the app that you’re using, can you use that same app to cash your BTC into cash (US dollars) right away after receiving BTC payments from people my friend?
Happy to help! ?
Very well explained, thank you so much for the tutorial, just a simple question though, can you convert any crypto currency into cash if it’s in your wallet already?
You can not do this within the wallet yet. You only can swap crypto to crypto within the exodus wallet. You have to use another exchange for this. I think they work on a function to buy Bitcoin, but I am not sure if this will work the other way around as well. So, for now, you need to use your local exchange or find someone that excepts crypto and convert it into fiat. Or use a crypto debit card. For example, crypto.com but it has very high fees, I sometimes use but not very often. I hope that more people will accept crypto to crypto soon.
This is great, thank you ❤
Glad you like it! 🙂
Wow , thank you so much . That was extremely helpful . Now I’m moving on to all your other videos … ?
I will do more crypto videos next year, starting end of January. Currently, I am only focused on Skincare, but you are welcome to watch them as well ??
awesome,well presented and easy to understand.Thanks.
You are welcome! ?
Thank you so much Melissa! Please keep going with the cryptocurrency topics. Happy 2021!
@Izis F. Thank you! Highly appreciate it!?
@Melissa Van Dijk cool! So, better I subscribe to your channel 🙂
Happy new year! I will start with them next week! 🙂
Hi Melissa, thank you very much for the great video. I want to start and buy my first crypto but I am not sure which one I buy first. Can I buy any and later on I swap between others? I saw something about usdt and I am not sure what to buy first and start swap btw other cryptos. Kinda lost still hahaha <3
It depends on what you want to do, so I wonder, do you mainly want to use it for yourself and receive some money/cryptocurrencies, or do you have a business? Because if you regularly receive money, then my suggestion is to register with a service such as CoinPayments or Bitpay. See here: https://www.coinpayments.net/
But if you receive money from friends and you want to hold it and/or trade it, you can go through a centralized exchange such as Binance (https://www.binance.com/en), Coinbase (https://www.coinbase.com/) or any other local exchange in your area and download a wallet such as Trustwallet (https://trustwallet.com/) or Exodus (https://www.exodus.com/) to store it.
Still, if you want to exchange it back into your local currency (USD), you always have to use a centralised exchange such as Binance or Coinbase. You could also connect Exodus Wallet to a centralized exchange to cash it out, but I have never done that, and I think the fees are much higher. So it is probably great for small amounts of money, but if you do it regularly, it is not worth it.
So most likely you need 1 online exchange (such as Binance, Coinbase) to buy and sell it and a personal wallet (Trustwallet or Exodus) to store it.
Does that make sense ?
@Melissa Van Dijk US currency is my type of cash Melissa, I’m in the US living in Utah! US currency is what I’m referring to. Is there an app that does both of those things that I needed it to do my friend? To receive BTC payments then turn around & cash the BTC into US dollars? Or would u have to use 2 different type of apps? One app for receiving & the other app to cash your BTC into your country’s currency?? Sorry for these beginner’s questions miss, bcuz I’m literally brand new at anything that has to do with crypto currency! Plz help me Melissa! Ty so much for your time ? ?
@Vegeta King If you are a business, you probably need a business solution such as CoinPayments or Bitpay. They can help to convert crypto immediately into fiat currency. I have worked with them in the past (2017). But not sure how they are now since I no longer use such a service. I primarily just hold coins in my personal wallets and cash them out through local exchanges, but that is difficult or inconvenient for businesses.
@Melissa Van Dijk Hello Melissa, you’re so nice & kind! Appreciate all of the help you’ve given us. Ty ? Anyways, I’m in need of your help. What app is the best for me to use to create a crypto wallet to receive Bitcoin payments from people/businesses? And then with that same app? Can I cash my Bitcoin into US dollars right away??
Okay great 🙂 So if you still need any help, you can write here, and if I do not reply, you can also send me an email to melissavandijk@posteo.net because sometimes I do not see the comments. But I will do some crypto videos again shortly.
Thanks so much!! Very clear and simple instructions. Really enjoyed your training.
@tyler morgan No. You need to buy or sell your coins on a centralised crypto-exchange (for example, Coinbase or Binance) or from a Bitcoin ATM (https://coinatmradar.com/). Or you need to find another person who is giving your cash for the coins you want to sell.
@Melissa Van Dijk can you connect a bank account to these wallets some
how and transfer funds from wallet to bank account? how would we be able to access the funds
Are you new to the crypto world?
Yah me too
Glad it was helpful! 🙂