I am going to show you how to get a bitcoin wallet address in 5 minutes or less but here are some VAB updates first.
It has been one week now since the relaunch of VAB as a bitcoin-only site, now re-branded as a Viral Bitcoin Collection Tool.
In the last 7 days, as I write, VAB has shown over 2.9 million ads to over 78,000 people, with a very consistent average of around 200 people seeing VAB every 10 minutes.
A very large percentage of those ads being shown are from the Viral Pool, essentially a banner advertising co-op. Right now there are only 6 members in the Viral Pool including me (Paul Coonan) and Brad Webb. If you are not in the VIral Pool you are missing out on fantastic passive advertising.
During the last 7 days 1.15 BTC has been paid out to members. When you have a bitcoin wallet address entered you will get your commissions automatically paid directly to your wallet in 5 minutes or less!
Do you need a Coinbase account to use VAB?
No! Coinbase is not required. There are many wallets out there to choose from. All you need is bitcoin wallet address to begin receiving instant bitcoin commissions from VAB and that address can be attached to any wallet you happen to choose.
Get a Bitcoin Wallet Address In 5 Minutes Or Less!
Bitcoin is only as complicated as you make it. There is a lot to bitcoin that has taken me some time to understand myself and I am still far from knowing everything, but, I don't have to know everything and neither do you!
So let's start with simple and get a bitcoin wallet address in 5 minutes or less.
I use Coinbase which is my personal preference for my needs because Coinbase is essentially the PayPal of bitcoin and allows me to automate many site operations like paying instant commissions as well as buy and sell BTC. However, only U.S. account holders can become bank verified at this time meaning only U.S. members of Coinbase can buy and sell BTC through Coinbase. If you are interested in buying and selling bitcoin and are not in the U.S. I suggest googling "bitcoin exchange" to find an exchange that works with your country.
Update, August 9th, 2014 - It should be noted that people outside the US can still use Coinbase even though non-US based members are currently not able to confirm their identity. You can still receive and send using their service. Click here for more info.
I also use a software wallet which I am going to use to guide you through and get a bitcoin wallet address in 5 minutes or less. I use Electrum which is completely free and is available to here. There is excellent documentation and tutorials on the site as well. Many other wallets are out there, Electrum just happens to be what I use.
Ok, wallet address in 5 minutes or less...
- First download Electrum.
- Once you've downloaded and started Electrum for the first time you'll be asked to create a wallet.
- Select any server from the list and click ok.
- A seed will be generated for you. You must keep this seed in a safe place, it will let you restore your wallet in the future.
- It is recommended to set a strong password to encrypt your wallet.
- Now you can start using Electrum to send and receive Bitcoins.
- New addresses are generated automatically when your receiving addresses are used.
I highly suggest creating a text file and pasting your seed and your password in it for safe keeping. Even better is to save that text file on a USB drive so it is not on your computer. This way, with Electrum, if your computer crashes, fails, or gets stolen you are protected and you will not lose your bitcoin because you can restore your Electrum wallet with your seed.
Once all setup...
- Click on the "Receive" tab.
- Under "Main Account" click the little arrow to expand the "Receiving" section, if it is not already expanded.
- Right click on any address you see in the "Receiving" section (not the "Change" section).
- Select "Copy to clipboard" to automatically copy the address you selected.
- Go to VAB's "Member Details" section, here.
- Click the "Edit" link next to "Bitcoin Wallet Address."
- Paste your new bitcoin wallet address in and save it.
You now have a bitcoin wallet address to receive instant bitcoin commissions, in 5 minutes or less, directly to your wallet from VAB!
Overall, as you build up your bitcoin balance you will also be able to use your new wallet to send bitcoin as well as receive allowing you to make purchases at places, not only online but offline as well, that accept bitcoin. If you have a smart phone there are bitcoin wallet apps you can download. This allows you to use your wallet in the physical world like getting a coffee at Starbucks!
Remember, bitcoin is only as complicated as you make it.
For myself, I found my biggest fear of bitcoin in the beginning was simply based upon the fact of not knowing enough about it. My daily reading is here at Coindesk.com.