I just bought bitcoin and don't know what to do next.

Currenlty your bitcoins are most probably sitting on an online-exchange, like Kraken.com or Bitstamp.net etc.

To get your bitcoins under your control, you have to hold them in your own wallet.

Use your smartphone or tablet as the device to store your bitcoins.

For Android, use Mycelium.

For iOS, use Hodl Wallet. Hodl Wallet uses the new bech32 native SegWit address format (starts with bc1. If the online-exchange you are using doesn't support it yet, you can access legacy addresses (start with 1 (numeral One)) via

      Menu → Settings → Show Legacy Address.

If you have an Android as well as an iOS device, use the iOS device.

Write the 12 word recovery seed on paper and store it with your other important documents, so nobody accidentally throws it away mistaking it for trash.

These 12 words are your bitcoin wallet. Whoever knows these 12 words, can get your bitcoins.

To increase security, write the seed on another piece of paper and store it in an envelope somewhere secure, like a bank safe deposit box, or hide it in the bookshelf in your grandma's house. Then screenshot/e-mail to yourself/... one of the addresses that is shown and uninstall the wallet from the device again.

Notice: The seed should always exist in two places at the same time. Accidents happen, for example your house might burn down. If the only copy of the seed burns with the house, your bitcoins are gone.

You can observe transactions to (and from) that address using Blockstream.info.

If the size of your bitcoin holdings increases and you're getting nervous about potential threats, but are also too cheap to buy a hardware wallet and don't want to screw around with Linux systems that you start from USB-drives, this guide is for you: Step-by-step guide


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