Getting Your Bitcoin Wallet in Canada

edited June 2015 in Bitcoins 101
The problem with starting with Bitcoins is finding the right people to do business with, especially in Canada. Personally, the wallet I use is from blockchain.info. I find they are professional, it was easy to set up and they offer two-factor authentication with Google. It was an easy to choose them. They also allow you to backup your wallet to a variety of places including Dropbox. This is also my preferred method, because you can use two factor authorization with Dropbox as well. Do I have to also mention you should use a Gmail account that has 2-factor enabled too?

(An aside: for those that are unclear, Google Two factor Authentication, turns your phone into a digital key. It spits out a 6 digit number every minute, so if your password is stolen, the criminal have a hard time getting in.)

In short, and to make things easier, here is my list to get started:

1- Get a Google/GMail Account, turn on two-factor authentication
2- Get the Google Authenticator app for your phone
3- Get a Dropbox account.
4 - Install the Dropbox application on your computer. It will allow for easy sync of your information.
5- Turn on two-factor authentication for Dropbox
6 - Go to https://blockchain.info and get an account.
7 - Create you first Bitcoin address
8- Turn on Two factor authentication with Blockchain.
9- Create another address for this forum or for faucets to give our publicly. (actually you can create as many as you like)
10- Get the Blockchain app for your mobile phone.

Bonus Tips:

A - When you have a large amount of Bitcoins, use a paper wallet: https://blockchain.info/wallet/paper-wallet-tutorial-web
B - Use Blockchain Chrome Extension: https://blockchain.info/wallet/chrome-extension
C - Review Blockchain security settings, for example blocking TOR IP addresses from accessing your wallet.

Have fun! Now you are ready to earn Bitcoins. Make sure you add your Bitcoin "public" address on the forum, so people can thank if they choose
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Comments

  • Hi, this was my first clear process that I have read on how to get a relatively secure wallet. Thank you.
  • I use the software wallet, which is passworded, on my computer, which is also passworded. It is located in Canada.

    For me the worst problem isn't about getting the wallet, but getting places that accepts BTC. For spending them in Canada, so far, all I managed to do is to transfer BTC to CDN into an ATM card at virtex, I haven't spend any actual coins in my own province yet.
  • @mtl the title was written to help people searching in Google to find this site. It has been effective, so thank you. As for spending in Quebec, there are a couple of places to spend BTC, but agree none are really that inspiring as some of the ones they have in Vancouver.
  • @CoinGuy - time will come when it will be as easy as using interac. in the meanwhile, I like virtex's way to do thing.
  • Fantastic read, simple and informative. We need Bitcoin to be explained like this if it's going to be widely-accepted.
  • Hello I just start to use bitcoin-qt is this good wallet?
    I was thinking to use armory, any suggestion please....
    Thanks
  • edited January 2014
    domy said:

    Hello I just start to use bitcoin-qt is this good wallet?
    I was thinking to use armory, any suggestion please....
    Thanks

    Downloading the entire blockchain via Bitcoin QT is not fun. I would recommend Multibit as a client.
  • Tnx mike i already have the bitcoin-qt and have some
    Coins on it
  • Most of the coin wallets are a huge pain. There's got to be a better way than having to download the blockchain for every altcoin.
    I know keeping them stored at an exchange is not ideal but it is easiest.

  • I've been a big fan of QT and Armory for a long time. But now that I've actually looked at the size of the Blockchain (it's 12 GB larger than the last time I installed a client) I can see why people don't want to use it.

    Electrum is a good alternative as it's a lightweight client meaning you do not touch the client at all.

    https://electrum.org/

    Even keeping the QT client open can really slow down your internet since you're downloading half a MB every other minute. And this really shows how fast mining difficulty is growing since difficulty is measured by how many blocks were solved in a set time-frame (if more blocks were solved then the difficulty increase. Less it's decreased). Theoretically blocks should be solved every 10 minutes. But now blocks are solved within minutes of each other with only a transaction or two in them thanks to the growing number of ASICs out there.

    And at the rate bitcoin is growing I'm noticing that transactions are taking much MUCH longer than before. I could send transactions and have them anywhere I want in minutes last year. Now even sites which only require one or two confirmations are taking up to an hour to process. That's mainly because blocks are solved with only a transaction or two only a minute past the previous block.

    In all honesty unless I need to use bitcoin I've been switching to litecoin to send funds. Maybe I'm a grizzled litecoin vet but I picked it to overtake bitcoin in terms of transactions made and market increase for well over a year now. And I think litecoin will eventually be overtaken by something even better. It's all evolution

    *Disclaimer. Not to say I prefer litecoin for any reason what-so-ever. The options stated do not endorse any trade.
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