How to Set Up a Bitcoin Wallet 2026 Guide
What Is a Bitcoin Wallet?
A Bitcoin wallet is an app or device that stores your private keys — the cryptographic proof that you own Bitcoin.
When you "have a wallet," you have a Bitcoin address that can receive Bitcoin.
Wallets don't actually store Bitcoin. Bitcoin lives on the blockchain. Your wallet stores the key that proves ownership.
Step 1: Choose Your Wallet Type
For Beginners (Mobile Wallet)
- Blue Wallet (iOS + Android) — free, easy, self-custody
- Muun (iOS + Android) — simple, supports Lightning
- Electrum (Desktop) — more advanced
For Larger Amounts (Hardware Wallet)
- Ledger Nano X — ~$170 CAD, most popular
- Trezor Model T — ~$220 CAD
- Coldcard — ~$180 USD, Bitcoin-only purists
Step 2: Install the App
Go to the App Store (iOS) or Google Play (Android)
Search for Blue Wallet
Install and open the app
Step 3: Create a New Wallet
Tap "Add Wallet" or "Create Wallet"
Name it (e.g., "My Bitcoin")
Select Bitcoin (not Lightning, to start)
Tap "Create"
Step 4: Write Down Your Seed Phrase
The app will show you 12 or 24 random words — your seed phrase.
Write these down on paper immediately. Never photograph them. Never store digitally.
Tap through the confirmation to prove you wrote them down.
Step 5: Get Your Receiving Address
Tap "Receive" — you'll see a QR code and a Bitcoin address starting with "bc1..."
This is the address you'll give to 1Bitcoin.ca when you buy Bitcoin. Your Bitcoin will be sent here.
Step 6: Enter Your Address at 1Bitcoin.ca
In your 1Bitcoin.ca account settings, add this Bitcoin address as your receiving address.
Every time you buy, Bitcoin will go here automatically.
Buy Bitcoin — Delivered to Your Wallet →
FINTRAC Registered | Non-Custodial | Bitcoin-Only | 20,000+ Canadians | Since 2020
See also: Bitcoin Self-Custody Canada | Bitcoin Seed Phrase Canada | Bitcoin Cold Storage Canada