BITCOIN WALLET

[danielgold20]

Hello!

I didn't understand something I opened a Bitcoin wallet at xapo and bought bitcoin and transfer it to my persenal wallet in xapo
Now when people say dont lose your password to your wallet do they mean to my xapo account or what? because I didnt understand what does it mean and i read a lot of topics about this.
when people say to save my bitcoin on offline mode how can i do this?
I didn't understand so much the this with the wallet how I can access it? ( only from Xaop or there another method? )

thank you for all the help upfront!

[1714747823]

1714747823

[1714747823]

1714747823

[1714747823]

1714747823

[7788bitcoin]

I suggest you speed some time reading on the basics of bitcoin, especially more on private keys and public keys.

Xapo is an online wallet which helps you to manage your private keys. In fact, you won't even know any private keys. The amount of bitcoin you own is actually with Xapo and you have to trust them because all your bitcoins are just recorded in their own ledger. If one day the company no longer exist, you don't own any bitcoin.

Saving bitcoin offline is basically keeping the private key (51 or 52 characters) on a piece of paper or a specialised USB device.

[xskl0]

Xapo is a bitcoin bank (they store you bitcoins), this means you have not the control of your coins (passwords). If you want to have the control of your own coins you can switch and transfer your bitcoins to Blockchain.info, a paper wallet or a hardware wallet.

Without knowing your private passwords tecnically you have 0 BTC

[DannyHamilton]

xapo is NOT a wallet.  xapo is an account.

With a wallet, you have exclusive control over your bitcoins.

With an account, you do not have any bitcoins at all.  You only have a promise from the service that is providing you the account.

You have given xapo full control of the bitcoins (meaning they are now xapo's bitcoins), and in exchange xapo has given you a promise that they will send an equal amount of THEIR bitcoins wherever you ask them to whenever you ask them to.  It is up to you to decide how sure you are that xapo will always honor that promise (and will always be able to honor that promise).

[posternat]

Hello!

I didn't understand something I opened a Bitcoin wallet at xapo and bought bitcoin and transfer it to my persenal wallet in xapo
Now when people say dont lose your password to your wallet do they mean to my xapo account or what? because I didnt understand what does it mean and i read a lot of topics about this.
when people say to save my bitcoin on offline mode how can i do this?
I didn't understand so much the this with the wallet how I can access it? ( only from Xaop or there another method? )

thank you for all the help upfront!

XAPO has a password and a PIN code. you should remember both of them and should not lose them. Also make your account verified so that support may help you in case of any problem.

[danielgold20]

Xapo is a bitcoin bank (they store you bitcoins), this means you have not the control of your coins (passwords). If you want to have the control of your own coins you can switch and transfer your bitcoins to Blockchain.info, a paper wallet or a hardware wallet.

Without knowing your private passwords technically you have 0 BTC

can I transfer my bitcoins from xapo to a usb or something?
and if yes is there a tutorial how to do this?
and by the way if i transfer my bitcoins to the blockchain from where do i get the password or something? i didnt unsderstand that part

thank you for the explanation and your time

[danielgold20]

xapo is NOT a wallet.  xapo is an account.

With a wallet, you have exclusive control over your bitcoins.

With an account, you do not have any bitcoins at all.  You only have a promise from the service that is providing you the account.

You have given xapo full control of the bitcoins (meaning they are now xapo's bitcoins), and in exchange xapo has given you a promise that they will send an equal amount of THEIR bitcoins wherever you ask them to whenever you ask them to.  It is up to you to decide how sure you are that xapo will always honor that promise (and will always be able to honor that promise).

can I transfer my bitcoins on a use or something?

[DannyHamilton]

can I transfer my bitcoins on a use or something?

Step 1.  Make certain you have no virus or malware running on your computer.

Step 2. Choose wallet software for your computer (Such as MultiBit or Electrum). You can see additional options under "Desktop" here:
https://bitcoin.org/en/choose-your-wallet

Step 3. Make sure you know how to properly use the software and that your system has the resources to support the software you've chosen.

Step 4. Install the software on your computer.

Step 5. Create an encryption password that you won't forget for your wallet if your chosen software supports that.  If you forget this password it will become impossible to ever access your bitcoins again, so choose carefully and perhaps consider storing this password somewhere secure.

Step 6. Create a backup of the wallet data from the chosen software (Each software has a different method of creating a backup.  You should learn the method for your software in step 3). Store one or more copies of this backup somewhere secure.  If your computer crashes or is destroyed then this backup will allow you to access your bitcoins.

Step 7. Get a receiving address from your wallet software. (Each software has a different method of providing receiving addresses.  You should learn the method for your software in step 3).

Step 8. Send a transaction from Xapo to the receiving address that you acquired in step 7.

Step 9. Wait for the transaction to confirm.

[danielgold20]

can I transfer my bitcoins on a use or something?

Step 1.  Make certain you have no virus or malware running on your computer.

Step 2. Choose wallet software for your computer (Such as MultiBit or Electrum). You can see additional options under "Desktop" here:
https://bitcoin.org/en/choose-your-wallet

Step 3. Make sure you know how to properly use the software and that your system has the resources to support the software you've chosen.

Step 4. Install the software on your computer.

Step 5. Create an encryption password that you won't forget for your wallet if your chosen software supports that.  If you forget this password it will become impossible to ever access your bitcoins again, so choose carefully and perhaps consider storing this password somewhere secure.

Step 6. Create a backup of the wallet data from the chosen software (Each software has a different method of creating a backup.  You should learn the method for your software in step 3). Store one or more copies of this backup somewhere secure.  If your computer crashes or is destroyed then this backup will allow you to access your bitcoins.

Step 7. Get a receiving address from your wallet software. (Each software has a different method of providing receiving addresses.  You should learn the method for your software in step 3).

Step 8. Send a transaction from Xapo to the receiving address that you acquired in step 7.

Step 9. Wait for the transaction to confirm.

Thank yo very much!
I will do it and if i run to any difficulties I will ask your help you you can provide it.
by the way in the future if I want to transfer my bitcoin to any wallet do I do it through the software you mention?
You wrote "Create an encryption password that you won't forget for your wallet if your chosen software supports that" do i have an access to the wallet and when I mean access i mean transfer founds?
thx