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Investing in Bitcoin: How to Choose the Best Wallet and Set It Up on Linux

#beginners #tutorial #blockchain #linux

We will cover the basics of investing in Bitcoin, with a particular focus on choosing the best wallet and setting it up in a Linux system. Whether you are a beginner or looking to expand your knowledge, this guide will be helpful to you.

Electrum wallet is one of the most popular wallets for storing and using bitcoins, meeting many important criteria. There are a vast number of cryptocurrency wallets available, and choosing a reliable and user-friendly one can be quite challenging. It's essential to remember that if you do not control your keys, you cannot consider your bitcoins to be secure.

Electrum wallet offers a user-friendly interface and a variety of features that make it an excellent choice for storing bitcoins. In this wallet, you can not only manage your funds but also create Lightning channels, allowing for fast and inexpensive transactions. However, to use Electrum wallet effectively, you need to learn how to navigate it. Otherwise, you may get lost in the diverse documentation and risk losing your bitcoins.Let's start.

  1. Download the Electrum wallet from the official website using this link: https://electrum.org/#download (the AppImage file. This is important because it will be the most convenient way to use the program without any hassle, all in one file.).
  2. After downloading the file, place it in a safe location, for example, in the Documents folder.
  3. Make the file electrum-4.6.2-x86_64.AppImage executable by going to the file properties and toggling the switch.
  4. Now we can run the file by right-clicking and selecting 'Run'.
  5. After launching the program, you can confidently proceed through three steps by clicking "Next" until you reach the point where your seed phrase will be displayed. This is an important moment; you must securely save these words. In the future, you will be able to successfully restore your wallet if something happens to the program.
  6. Next, you enter your phrase in this field.
  7. Create a password. And click "Done."
  8. Great! Now you see the program's working screen. That's about it. If you are interested in how to make Lightning payments with minimal fees in the future, please write in the comments about any problems you have encountered with this wallet

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