In the last article, we looked at the Markets section of the app where you can discover trending cryptocurrencies and get real-time market information. In this article, you will learn about wallets and be guided through the process of creating new wallets or importing wallets.
Your Bitcoin.com Wallet app can actually hold many individual crypto wallets. Each unique blockchain needs its own wallet. For example, bitcoin (BTC) must be kept in a Bitcoin wallet. Ether (ETH) is kept in an Ethereum wallet. Your Ethereum wallet can hold many other cryptoassets other than just ETH, because the Ethereum blockchain supports many tokens, such as VERSE, SHIB, and USDC.
How to View and Manage your Wallets in the Bitcoin.com Wallet app
How many wallets do you have? Let’s check. To see your individual wallets, tap the “Funds” icon at the bottom of the screen:
Under the “Wallets” heading, you can see your current wallets. The Bitcoin.com Wallet comes with three wallets preloaded - Bitcoin Cash, Bitcoin, and Ethereum:
Tap on a wallet to see its contents. At the top is the price action of the wallet, which you can adjust amongst 5 different time frames. The following screenshot shows the 1-year time frame:
Near the bottom you can see any transactions you have completed within this wallet. In the example screenshot above, the wallet only has one transaction. Tap on a transaction to see more details:
You can enter a personal memo to help you organize your transactions.
If the wallet supports multiple assets, like Ethereum wallets, you can select the “Assets” tab to see the cryptoassets held in this wallet:
In the above wallet, there are four assets: ETH, USDC, DAI, and VERSE.
How to Create New Wallets in the Bitcoin.com Wallet App
Let’s go back to the main Funds page. Swipe or press the “back” action to return to the main Funds page. At the bottom of the page you can see the “ADD/IMPORT” button.
You can create a new wallet with this button. There are many reasons you might wish to create multiple wallets for the same asset:
Security: If one wallet is compromised, you will only lose the funds stored in that particular wallet.
Organization: Create separate wallets for different purposes. For instance, one wallet could be used for long-term holdings, another for daily transactions, and another for trading on exchanges.
Business and Personal Use: Similar to traditional bank accounts, some users might use separate wallets for their personal and business-related transactions.
Privacy: Blockchains are public. By using multiple wallets, you can better preserve your privacy by making it more difficult for third parties to track your transactions.
Let’s add an Ethereum Wallet we can use for long-term holdings. To start, tap the “ADD/IMPORT” button. Then press “Add new personal wallet”:
Under “Asset type,” select ETH. Enter a descriptive wallet name. Let’s go with “Long-term holdings.” Then press the “CREATE ETH WALLET” button.
That’s it! The “Long-term holdings” wallet will appear under the Ethereum wallet category.
You now have a great place to put assets you wish to hold over the long-term!
This article is part of the Bitcoin.com Wallet Tutorials Series, which is designed to get you up to speed on the app and its features. Read the next article in the series:
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