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Crypto Wallet Comparison

How to Create a Bitcoin Wallet: Complete Tutorial With Illustrations

All cryptocurrencies have to be stored in a wallet, whether hot or cold. Therefore, you will need a Bitcoin wallet after you have purchased BTC from your preferred exchange or expect to receive some from another person. In this tutorial, we’re going to show you how to create one on Binance Exchange. Not only is the exchange very popular, but has also never suffered a hack resulting in losses

Create an account at Binance

To own a wallet on Binance, the company requires that you first create an account. You can do so on a desktop computer or on your smartphone or tablet. 

On desktop

  1. Go to the Binance website and click on the Register button at the top of the landing page
  1. On the next page, enter your email address and preferred password. 

PS: Use a different password from the ones you use on other websites

  1. Complete the puzzle to prove you’re human and not a bot
  1. An email will be sent to the address you provided containing a verification code. Copy the code in the email and type it into the Binance web page
  1. Before proceeding, you are required to verify your identity. From this page, click on the Verify button
  1. Basic verification will require information such as your name, DOB and residential address. Afterwards, intermediate verification will ask you to provide proof of identity using a government ID and facial verification

On mobile or tablet

You will first need to download the Binance app from your device’s app store. In this review, we used an Android device and downloaded the app from Google Play Store. Once the app is downloaded, you should be able to see it from your home screen or app drawer. 

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  1. Open the app and select Register now to start creating the account. In this stage, you will only be asked to provide your email address and enter your preferred password. In addition, you can enter a referral ID if you have one from another Binance customer. To support our website, use the referral code ‘37415056’
  1. You will then be challenged to complete a simple puzzle just to verify you’re a human and not a robot
  1. Check your email to find your activation code, which you will be required to enter while logging in
  1. The app will then take you through a series of questions to gauge your level of understanding and experience in crypto. These questions can be skipped but we still recommend going through them to help improve the app’s customization
  1. Then enter your country of residence and preferred currency for funding your account
  1. On the next stage, the app will ask you to verify your advantage. It’s possible to skip this too but it shouldn’t take a long time to complete
  1. Begin with your basic verification involving your country, name, date of birth and address
  1. Onto the intermediate verification, you will be asked to take a photo showing your identity followed by a selfie of yourself. The app will guide you on how to take these pictures
  1. Once done, your account will be reviewed by the company, but you can start using it as you wait

Accessing your Bitcoin wallet

Basic verification takes a few hours after which you will be able to transact a limited amount of crypto as you wait for further verification. 

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On desktop

  1. Once done, go to your account page and from the top menu bar click on Wallet
  1. Your Bitcoin wallet is now ready and you can begin to receive or purchase BTC from your computer

On mobile

  1. On your phone, open the Binance app and tap on the Deposit button
  1. Navigate to the Spot tab and tap on Deposit once more
  1. Select how you would like to deposit crypto into your wallet. In this case, we chose BTC because it’s a Bitcoin wallet
  1. There you will see the address to your Bitcoin wallet into which you can store your crypto assets

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