Assets, Bitcoin

How Do I Use My Bitcoin Core Wallet?

Assuming you’ve already installed Bitcoin Core (see, the first thing you need to do is set up a wallet.

Wallets allow you to store, receive, and spend your bitcoins. There are two main types of wallets: full nodes like Bitcoin Core and lightweight wallets.

Full nodes like Bitcoin Core download the entire blockchain and verify it to ensure that all of the bitcoin rules are being followed. This process is resource intensive and requires a lot of storage space, so most people use lightweight wallets.

Lightweight wallets don’t download the entire blockchain, but they trust full nodes to give them accurate information about what’s going on in the network.

There are many different types of lightweight wallets, but one of the most popular is Electrum (see To install Electrum, just download the installer from their website (https://electrum.

org/#download) and run it. Once Electrum is installed, open it and click “New Wallet”.

On the next screen, select “Standard wallet” and click “Next”.

On the next screen, leave “Create a new seed” selected and click “Next”. A seed is a string of words that you can use to recover your bitcoins if your computer is lost or stolen.

It’s important to write down your seed and store it in a safe place.

On the next screen, you will be asked to select some words from a list. These are your seed words.

NOTE: WARNING: Using a Bitcoin Core Wallet requires a significant level of technical know-how. If you are not experienced in cryptocurrency or blockchain technology, it is strongly recommended that you do not attempt to use your Bitcoin Core Wallet. By using a Bitcoin Core Wallet, you assume all risk associated with its use, including but not limited to loss of funds, data corruption or other security-related issues.

Write them down and store them in a safe place. Once you’ve written them down, click “Next”.

On the next screen, you will be asked to enter a password. This password will be used to encrypt your wallet file so that nobody can steal your bitcoins if they get access to your computer.

Choose a strong password and click “Next”.

On the next screen, you will be given a summary of your wallet settings. Click “Next” to continue.

On the next screen, you will be asked to choose where to store your wallet file. It’s recommended that you store it on an external drive in case your computer crashes or gets infected with malware.

Once you’ve chosen a location, click “Next”.

On the next screen, you will be given a chance to review your transaction fee settings. It’s recommended that you leave these settings at their default values unless you understand what you’re doing.

Once you’re happy with your settings, click “Next”.

On the next screen, you will see a list of all the addresses in your wallet along with their balances. You can use these addresses to receive bitcoins from other people or send bitcoins to other people. To generate a new address, click the “Receive” tab and then click “Request payment”. Enter the amount of bitcoins you want to receive and then click “Request Payment”.

You will then see a QR code that people can scan with their phone or mobile wallet to send you bitcoins. To send bitcoins, click on the “Send” tab and enter the address that you want to send them to along with the amount of bitcoins you want to send them. Then click “Send” and confirm the transaction on the next screen by clicking “Yes”. That’s it! You’ve now learned how to use Bitcoin Core!.

Previous ArticleNext Article