I’ve been dabbling in small cryptocurrency projects for a little while now and a number of my friends have reached out and expressed their interest in how to get started with cryptocurrency. This is a simple tutorial on how-to create and fund a wallet on a cryptocurrency exchange for free.
Step One – Create a Secure Email Account for Cryptocurrency
To begin with, if you have not done so already, create a new, secure, email address to connect your cryptocurrency accounts to. I like https://tutanota.com/ for this. Having a unique email address dedicated to crypto-projects will make it harder for people to compromise your account by linking it to your identity. Don’t post this email address anywhere and don’t share it.
Step Two – Create a New Exchange Wallet on the KuCoin Exchange
Once you have your secure cryptocurrency email address you will have to go over to the KuCoin Cryptocurrency Exchange. Create an account on the exchange using your new email account. https://www.kucoin.com/
Step Three – Find Your Bitcoin Wallet Address
After you have created your KuCoin account, navigate to https://www.kucoin.com/assets/coin/BTC, and click “Deposit”. You will see your “BTC Bitcoin Wallet address” it looks something like “3Q1p3sW1BPbTvz1BFqhrMg5ipmVC31Kbtx”. Copy that and save it. You’ll need it.
Step Four – Create a Micropayments Wallet
We’re going to be collecting Bitcoin from faucets momentarily. Faucets are the magic money dispensers of the internet. Like most magic money dispensers, there’s a catch, you’re not going to get rich just by rubbing the genie’s magic lamp. Bitcoin faucets pay only tiny fractions of a Bitcoin per payout. In order to transfer these small amounts without losing a significant percentage of the funds to transaction fees, we’re going to create a Micropayments Wallet.
For this demo, I’ve chosen to use Cryptoo.me service to create our micropayments wallet. Funds will accumulate in our micropayments wallet until we have enough to justify the blockchain transaction fees required to move the coin to the exchange.
Take the Bitcoin Wallet address you copied in step three and use it to create a micropayments wallet at https://cryptoo.me. Don’t forget to use your secure email address when creating the account.
Step Five – Collect at Least 100000 Satoshi from Bitcoin Faucets
Now we’re ready to start collecting Bitcoin by visiting faucets. This morning I tested a couple of hundred alleged “Bitcoin Faucets”. A vast majority of them didn’t work. A few of them tried to hack me or spam me in some way. I was able to narrow it down to twenty-five faucets that appear “mostly harmless”. These Bitcoin Faucets worked with Cryptoo.me AND paid out on the morning of June 17, 2020.
Functioning Faucets as of June 17, 2020
Step Six – Transfer Funds from Micropayment Wallet to Exchange Wallet
Next, you’ll start trading your crypto on the exchange, using it for economic transactions, or mining it yourself. As I get time I will explain how to do these things here on Source Passive. Until then, I hope you’ve enjoyed this little tutorial on getting started with Bitcoin for free. Feel free to reach out if you have any questions!
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