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Create a Bitvavo wallet
Creating a wallet through Bitvavo is simple and quick, even for those new to cryptocurrencies. Follow the step-by-step guide below:
Step 1: Create an account
Visit Bitvavo’s website (www.bitvavo.com) and click “Register” or “Sign Up.” Enter your email address, create a strong password, and accept the terms and conditions. Then click on “Register.” You will receive a confirmation email to verify your email address. Open the email and click on the verification link to complete this step.
Step 2: Verify your identity
To comply with legal requirements, Bitvavo must verify your identity. You will be asked to provide personal information such as your full name, date of birth and address. You’ll also need to upload proof of identity (e.g., a passport or driver’s license). Once approved, your account is fully verified and you can use all of Bitvavo’s features.
Step 3: Upload money to your account
Before using a wallet, you need to deposit funds into your Bitvavo account. This can be done easily through bank transfer, iDEAL, or other supported payment methods. Select the amount you want to deposit and follow the on-screen instructions.
Step 4: Create your wallet
Bitvavo automatically creates wallets for each cryptocurrency you wish to buy or receive. Go to your dashboard and choose the cryptocurrency you want to purchase, such as USDT (Tether). Once you complete the purchase, your cryptocurrency will be automatically stored in your Bitvavo wallet.
Step 5: Receive cryptocurrency
If you want to receive cryptocurrency from an external source, such as Yieldfund, go to the “Deposit” section of your Bitvavo account. Select the desired currency and copy your unique wallet address. Use this address to receive USDT or any other cryptocurrency.
Your Bitvavo wallet is now set up and ready to use.
How to use a wallet?
Using a wallet at Bitvavo is straightforward and essential for securely managing your cryptocurrencies. Here’s a guide on how to use your wallet effectively.
Step 1: Accessing your wallet
After creating your Bitvavo account, you automatically gain access to wallets for all supported cryptocurrencies, such as USDT. To view your wallets, navigate to your Bitvavo dashboard and click on “My Wallets.” Here, you’ll find an overview of all your cryptocurrencies, including their balance and value in euros.
Step 2: Receiving cryptocurrencies
To receive cryptocurrency, for example from another user or platform like Yieldfund, go to your Bitvavo wallet and click the “Deposit” button next to the desired cryptocurrency. Bitvavo will generate a unique wallet address for that currency. Copy this address and share it with the party sending the cryptocurrency. Be sure to use the correct wallet address for the specific cryptocurrency, as using the wrong address could result in the loss of your funds.
Step 3: Sending cryptocurrencies
To send cryptocurrency from your Bitvavo wallet, for example to an external wallet, click the “Withdraw” or “Send” button in your wallet. Enter the recipient’s wallet address and select the amount you want to send. Double-check the wallet address before confirming the transaction, as crypto transactions are irreversible. Bitvavo charges a small transaction fee for sending cryptocurrency, depending on the type of coin.
Step 4: Conversion to fiat currency
Want to convert your crypto currency to euros, use the “Sell” option in your wallet. You can sell your cryptocurrency, and the converted amount will appear as euros in your Bitvavo account. From there, you can easily withdraw the funds to your bank account.
Where can I find my USDT address?
Finding your USDT (Tether) wallet address in Bitvavo is essential when you want to receive USDT from an external source, such as another crypto platform or Yieldfund. Follow these simple steps to locate your USDT address:
Step 1: Log in to your Bitvavo account
Go to the Bitvavo website and log in with your email address and password. Ensure you have two-factor authentication (2FA) enabled for enhanced security, which helps prevent unauthorized access to your account.
Step 2: Go to “My Wallets.”
Once logged in, go to the “Dashboard” and look for the “My Wallets” section. This area displays all the cryptocurrencies available in your account, including USDT. Bitvavo automatically provides wallets for all supported cryptocurrencies, so there’s no need to create a separate wallet.
Step 3: Select USDT
From the list of wallets, find and click on “USDT” (Tether) to access your USDT wallet. Here, you can view the current balance of your USDT wallet and proceed to retrieve your unique wallet address.
Step 4: Find your USDT address
Click on the “Deposit” or “Deposit” button at your USDT wallet. Bitvavo will now generate a unique USDT wallet address for you. This address consists of a long string of letters and numbers unique to your account. You can either copy the address by clicking the copy button or scan the QR code if that’s more convenient.
Step 5: Use the wallet address to receive USDT
Now, share this USDT address with the sender. Ensure that only USDT is sent to this address, as sending other cryptocurrencies to a USDT wallet address may result in the loss of your funds.
How to make secure payments?
Making secure payments from wallet to wallet within Bitvavo is straightforward but requires several important steps to ensure the transaction is accurate and safe. Below is a guide to help you make secure wallet-to-wallet payments.
Step 1: Verify the wallet address
When sending cryptocurrencies, it is essential to use the correct wallet address of the recipient. Each cryptocurrency has a unique wallet address, so always ensure the address provided matches the type of cryptocurrency you are sending. A mistake could result in the loss of your funds, as crypto transactions are irreversible. To avoid errors, copy and paste the wallet address rather than typing it manually.
Step 2: Set up dual authentication (2FA)
For enhanced security, it is strongly recommended to enable two-factor authentication (2FA) on your Bitvavo account. 2FA adds an extra layer of protection by requiring an authentication code in addition to your password. This code can be generated through apps like Google Authenticator, making it significantly harder for unauthorized users to access your account, even if they have your password.
Step 3: Double-Check the Transaction Amount
Before confirming a transaction, carefully check the amount you are sending. Since crypto transactions cannot be undone, any errors in the amount sent cannot be recovered. Also, ensure that you have enough funds in your wallet to cover the transaction, including any fees Bitvavo may charge.
Step 4: Confirm the transaction
Once you’re ready to proceed, click “Send” or “Record” and confirm the transaction. If you have 2FA enabled, Bitvavo will prompt you to enter an additional verification code, further securing the process.