How to Open a Bitcoin Account

3 mins read March 21, 2024

Back in 2009 when Satoshi created Bitcoin, it wasn’t as “hot” as it is right now. If you went to a party and you mentioned the word ‘bitcoin’, you’d probably get a lot of long hard stares. There wasn’t a lot of faith in the digital currency back then but now, over ten years later, bitcoin is everywhere.

Most of its widespread adoption is as a result of the ease of accessing cryptocurrencies that exchange platforms have brought to everyone. You really don’t have to be “tech-savvy” to have a bitcoin account or use bitcoin. In this article, we’ll talk about bitcoin accounts and how to create them.

What is a bitcoin account?

A bitcoin account allows you to access and hold bitcoin. Bitcoin is created and exchanged on the blockchain, therefore, for anyone to access it, they need a way to “plug” into the blockchain. Only then can they create an account and perform bitcoin transactions. However, to ensure that your bitcoin is yours on the blockchain and all records of your transactions are properly kept on the open ledger, you need a bitcoin address. Having a bitcoin address is what really signifies that you have a bitcoin account.

A bitcoin address is a unique set of alphanumeric characters that hold the bitcoins that belong to you. Every bitcoin address is secured by two cryptographic keys: a private key and a public key. These keys ensure that you can access your bitcoin on the blockchain and perform secure transactions.

How To Buy Bitcoin On Yellow Card

Yellow Card is a fintech established in 2016 that has simplified the process of buying, selling, and storing digital assets. With Yellow Card, which is operational in 20 African countries, you can create a Bitcoin wallet for absolutely free in just a few taps. This way, buying, selling and storing of bitcoin is made easy. To create an account on Yellow Card is simple:

Visit the Yellow Card Web App or download the mobile app from the Google Play Store or App Store for iOS devices.

Set a strong password.

Next, you’ll be sent an email with an OTP to verify your account. Enter the OTP received and that's all! You now own a Bitcoin wallet.

The best part is that Yellow Card has an extensive portfolio that allows you to buy, sell, send, and receive your favourite coins like Ethereum, Tether (USDT), and Solana.

How to buy bitcoin on Yellow Card

Yellow Card has simplified the process of buying and selling bitcoin in Africa. You can easily buy bitcoin with your local currency using Yellow Card's multiple payment options. To fund your account and buy bitcoin, here are the steps you need to follow:

Once you are logged in to your account, click on ‘Deposit’

Choose your preferred payment method

Enter in bitcoin or your local currency the amount of bitcoin

Follow the prompts to deposit your funds. Once your deposit has been confirmed, your local currency wallet will be credited instantly.

Click on "Crypto" and select "Bitcoin" among the coins listed

Click on "Buy" and indicate the amount you wish to buy.

Confirm the transaction to buy bitcoin.

That's all! Congratulations on buying your first bitcoin.

As we've seen, Bitcoin has come a long way from its quiet beginnings to becoming a buzzword in finance and beyond. Thanks to platforms like Yellow Card, getting into Bitcoin is now seamless, making it possible for anyone to join the digital currency wave without being a tech whiz. So, why wait? Dive into the world of Bitcoin today, create your account on Yellow Card, and start exploring the future of money with just a few clicks.

Open a Bitcoin wallet now

Disclaimer: This article is meant to provide general guidance and understanding of cryptocurrency and the Blockchain network. It’s not an exhaustive list and should not be taken as financial advice. Yellow Card Academy is not responsible for your investment decisions.

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