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General Questions

What is a Bitcoin Wallet?

When you create a happyCOINS account you will need to give us one of your Bitcoin addresses. In this way we know where to send your purchased Bitcoin. This Bitcoin address has to be a Bitcoin address from your own Bitcoin wallet because happyCOINS does not hold on to Bitcoin from our clients. You can find your Bitcoin addresses in your Bitcoin wallet. If you don’t have a Bitcoin wallet yet, you’ll need to download one.

Start with a mobile Bitcoin Wallet

Now a days there are many different kind of Bitcoin wallets you can download on your phone or desktop. Are you a Bitcoin novice and do not want to store a substantial amount of Bitcoin? Than we advise you strongly to download a simple wallet on your mobile phone. Mobile wallets will automatically synchronize with the Bitcoin network so that installation will be fast and easy. At happyCOINS we believe it is important that you keep full control of your crypyo currency any time anywhere. That means that we prefer crypto currency wallets where you are the only owner of your private keys (the codes that validate the ownership of your crypto currency) instead of wallets with third party ownership. In this way no one can freeze your crypto currency. For this reason we advise the Breadwallet for Android and iPhone.

Desktop solution for advanced crypto currency users

If you are a little more advanced as crypto currency user or want to store a larger amount of crypto currency, you will find Electrum Wallet for desktop a good solution. This wallet is a “lightweight” client and it is quite easy to set up. It is also a full deterministic crypto currency wallet. That means that if your original crypto currency Wallet gets “lost”, you only need to remember the seed words of your deterministic wallet to be able to “recover” your crypto currency addresses and private keys. This last feature makes storage of larger amounts of crypto currency a lot more safe.

Backup your crypto currency Wallet

Please be aware that you are the only one responsible for the crypto currency stored in your own wallet, so don’t forget to back it up, if you lose your private keys, you lose your money as well. Fortunately the crypto currency wallets have a backup and/or a deterministic recovery function, so this shouldn’t be a problem. Backup your wallet!

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