Method One of Three:
Creating a Software Wallet
Research your options. The software wallet was the original bitcoin wallet created. There are different types of software wallets. You're in finish control over the security of your coins with the software. The thicker hassles of the software wallet is installing and maintaining it.
The block chain is a public database of all the transactions participating in the server. It is used for almost all servers for history and verification purposes.
Download the original. Some people claim that the original bitcoin wallet, Bitcoin Core, is the best. It has been scrutinized and evolved since its creation. Visit Bitcoin's website, bitcoin.org , to download the application. This program will work on Mac, PC, and Linux servers. Once you install the software, the bitcoin client will attempt to establish a network and begin downloading the bitcoin block chain.
You'll need all the blocks in chain before you can send or receive any transactions.
Use alternative wallets. There are slew of similar wallets that all have their own drawbacks and specific functions. Hive, for example, is only available for Macs and includes an app store that connects to other bitcoin services. Armory is a wallet that is designed specifically for enhanced security.
Each have their own installation quirks.
Hive is specially designed for beginners.
Use a lightweight wallet. There are a few wallets that take up less space on your hard drive. These work at a swifter speed because they don't download the entire block chain. Only a puny part of the block chain is used at a time, making it quicker. Some popular lightweight wallets are Multibit and Electrum.
These wallets are less secure than the wallets that require the total chain blocks.
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Creating a Software Wallet
Method Two of Three:
Setting up a Web Wallet
Understand web wallets. Web-based wallets store your private keys online on a server managed by an admin group. Some wallets conveniently link inbetween your mobile and software wallets. You can access this wallet anywhere, making it a popular choice. The website is in charge of your keys and can take your bitcoins out of your control.
Many web wallets suffered from security breaches in the past. Be aware of the risks before investing.
Pick a web based wallet. There are slew of wallets that claim security for their customers. Some of the popular servers that have been active for a while now are: Coinbase, Circle, and Xapo.
Coinbase operates worldwide and offers exchange services inbetween US and Europe.
Circle only lets US citizens to link their bank accounts to deposit money. Debit or credit cards are options for users in other countries.
Xapo is a very ordinary wallet that is effortless to use and includes an extra security method called a cold-storage vault.
Use an anonymous wallet. The world of bitcoin often draws anonymous users for various reasons. Some of these types of wallets are less secure and don’t suggest much in the means of insurance. Dark Wallet operates as a chrome extension and is the most popular anonymous wallet. These types of servers fluctuate in stability for your coins. At any moment the server could become vulnerable to becoming hacked.
Some of the features of anonymous wallets are appealing like the prompt cash out module.