Blockchain Wallet: how to deal with cryptocurrency savings?

Blockchain Wallet: how to deal with cryptocurrency savings?

Taking into account bitcoin volatility, especially the negative side of it in the recent period, the issue of withdrawing your funds from the blockchain wallet became a real subject of concern.

Login Casino has collected some useful tips on dealing with a virtual wallet including guidelines on funds withdrawal and vice versa – on making a deposit.

How to create your personal blockchain wallet

Blockchain digital wallet creation is free of charge, and your account setup process is carried out online on the official website of Blockchain. Here you have to choose the preferable platform – it can be Windows, iOS or Android. In order to work on the mobile platform a special application is needed.

After that, the user is required to provide his/her email address, enter his/her password and accept the terms and conditions of the license agreement. Thereafter the system will send an automatic email requesting confirmation of one’s account. After the creation of a digital wallet, the user receives a unique identifier, which resembles a bank account number.

How safe is a blockchain wallet?

Blockchain wallet is protected at three levels. If a person forgot his/her password or someone else is trying to get the access to it by fraudulent means, the confirmation can be made via the additional email. Moreover, the owner can set a special key phrase consisting of 12 words. The system itself never saves any users’ passwords, which is one more good thing about it.

At the second and third levels, the user’s mobile phone is attached for extra authorization and anonymous inquiries blocking.

How to deposit coins to a blockchain wallet?

There are several ways how to deposit coins to a blockchain wallet. The most widespread ones for the CIS region are “Yandex.Money” or via a terminal.

Deposit via “Yandex.Money”

“Yandex” offers a list of exchangers (where one can buy virtual currency as well), which are arranged in a decreasing order. Here you need to choose and click on the link of the corresponding exchange. After that you will see a new window open with an online calculator in it. You have to enter the amount of money which you want to exchange for cryptocurrency as well as fill in the form for this transaction to be carried out: enter your name, email and telephone number. Thereafter the system will ask for the automatic client registration, and only then you can press the button “Exchange”.

The transaction must be carried out within a few minutes after the operation identifier has been generated. At this stage the name of Yandex.Money wallet, it’s number and password are indicated. CAPTCHA is required to be entered. Then one can check the prepared payment and confirm it.

How to deposit money via terminal

In several countries, including Ukraine and Russia, the deposit can be made via iBox terminals. One has to tap on the website link, enter your telephone number and then make a deposit

Here you will definitely have to pay the transaction fee as well as the terminal fee (1%). After that the client will be given a receipt. Then you have to open the same site in the menu “Purchase” choose the purchase variant via terminal in a special window and enter the activation code. After that you have to choose the way of getting money.

One more fact about the wallet’s potential

You are able to check the balance on your account as well as the last transactions.

How to withdraw your money from the blockchain wallet

As a rule, this process requires some time, it does not happen instantly. In the bitcoin blockchain wallet (or any other cryptocurrency) there’s a box inserted which shows the current exchange rate as well as the final sum of money that can be received for a particular amount of virtual money in other currency. There’s also the third indicator – the rate change depending on the amount of time the user’s transaction will take. You have to enter all the necessary data and confirm the operation.

In order to sell cryptocurrency one can transfer money from the bank or use credit/debit cards. The first option has its pros and cons – low interest rate, but long waiting time. In the second option everything is vice versa – the process can take a few minutes, however it might cost twice or three times more.

One can also withdraw his/her funds into his/her hardware wallet (usually encrypted external drives) which means that the funds withdrawal procedure can be rather complicated. In order to realize your plan you have to use the main service of your wallet as well the guidelines connected with downloading the plug-in for your browser. In addition, you will have to place your funds in your digital wallet.

Source: Login Casino

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