1
00:00:00,730 --> 00:00:06,820
OK so now that we have our wallets software installed which is electronic in this lecture I'm gonna

2
00:00:06,850 --> 00:00:10,540
show you how to create our first wallet.

3
00:00:10,630 --> 00:00:15,640
So I'm here at tails and I'm gonna double click the electronic icon.

4
00:00:15,640 --> 00:00:16,810
As you know we.

5
00:00:16,870 --> 00:00:23,400
We put this in persistent now because this is the first time we run it.

6
00:00:23,510 --> 00:00:30,160
And because we haven't created a wallet as you can see by default it's showing us a wizard to create

7
00:00:30,220 --> 00:00:31,570
a new wallet.

8
00:00:31,570 --> 00:00:36,580
So the first thing you want to do is like the name of the wallet that you want to create.

9
00:00:36,640 --> 00:00:42,070
In my case I'm going to call a John wake wallet and I'm going to click on Next.

10
00:00:42,640 --> 00:00:48,090
And now it's asking us what type of wallet do we want to create by default.

11
00:00:48,100 --> 00:00:50,040
This is set to a standard wallet.

12
00:00:50,050 --> 00:00:56,560
And this is what we're going to create the wallet with two factor authentication allows you to create

13
00:00:57,100 --> 00:01:02,470
a wallet that uses three keys two of which are stored on this computer.

14
00:01:02,500 --> 00:01:05,670
And the third is stored on a remote device.

15
00:01:05,800 --> 00:01:12,880
And in order to log into this wallet and use it you'll need to use a device with Google Authenticator.

16
00:01:12,880 --> 00:01:20,860
Now this obviously increases security but it jeopardizes our privacy because as we know Google isn't

17
00:01:20,860 --> 00:01:22,780
great when it comes to privacy.

18
00:01:23,380 --> 00:01:28,840
Therefore this would be a good option if you want to be secure and you don't care about privacy but

19
00:01:28,870 --> 00:01:34,350
if you want to be anonymous then standard wallet is a better option than this.

20
00:01:34,360 --> 00:01:37,500
You can also create a multi signature wallet.

21
00:01:37,540 --> 00:01:44,310
This is basically a wallet that uses two other separate wallets installed on two separate machines.

22
00:01:44,320 --> 00:01:51,640
Again it increases security and because it doesn't require Google Authenticator it won't jeopardize

23
00:01:51,700 --> 00:01:52,810
our privacy.

24
00:01:52,870 --> 00:01:58,630
But like I said in order to do this you will need to set up two machines and use these two machines

25
00:01:58,630 --> 00:02:01,630
to authenticate and use this wallet.

26
00:02:01,720 --> 00:02:08,860
The last option will allow us to import Bitcoin addresses or private keys as the option suggests.

27
00:02:08,860 --> 00:02:11,590
So we're keeping this at standard wallet.

28
00:02:11,590 --> 00:02:13,720
We're going to click on Next.

29
00:02:13,720 --> 00:02:21,530
Now it's asking us whether we want to create a new seed or a new wallet or restore an existing wallet.

30
00:02:21,610 --> 00:02:26,410
A seed is a string of text that can be used to restore a wallet.

31
00:02:26,440 --> 00:02:31,810
So if you already have a wallet on a different computer that you removed or if you already have a wallet

32
00:02:31,810 --> 00:02:36,220
that you want to use on this computer then you would select the second option.

33
00:02:36,220 --> 00:02:37,710
I already have a seat.

34
00:02:37,930 --> 00:02:43,240
If you're creating a new wallet from scratch you're not restoring anything you're going to keep this

35
00:02:43,330 --> 00:02:49,620
at create a new seed and you'll see in the next window we will get a seed which we can use to log into

36
00:02:49,630 --> 00:02:53,880
our wallet or restore it on multiple computers.

37
00:02:53,890 --> 00:03:01,960
You can also use a key or a hardware device to again restore a wallet and use it in this computer.

38
00:03:01,960 --> 00:03:04,180
But like I said we don't have a wallet.

39
00:03:04,180 --> 00:03:05,830
We want to create a new wallet.

40
00:03:05,860 --> 00:03:10,920
So we're keeping this at the first option and we're going to click on Next.

41
00:03:11,240 --> 00:03:13,960
Next is going to ask us about the C type.

42
00:03:14,150 --> 00:03:16,010
We're going to keep this at the SEC.

43
00:03:16,040 --> 00:03:18,530
This is much more secure than the legacy.

44
00:03:18,640 --> 00:03:23,350
But as the note suggests in here this might not work with all Web sites

45
00:03:27,160 --> 00:03:31,060
and right here as you can see we have our seed.

46
00:03:31,060 --> 00:03:37,510
So like I said the seed is a string of text that we can use to log in to this wallet.

47
00:03:37,510 --> 00:03:39,420
So this is very dangerous.

48
00:03:39,430 --> 00:03:42,190
You're not supposed to share this with anybody.

49
00:03:42,400 --> 00:03:47,140
If anyone sees this text they'll be able to log into your wallet.

50
00:03:47,170 --> 00:03:52,470
So that's why you have all the notes in here telling you never store this electronically.

51
00:03:52,570 --> 00:03:59,320
You should keep it on a piece of paper or try to just memorize it because if anybody sees this string

52
00:03:59,320 --> 00:04:06,640
of text they'll be able to log into your wallet and use your money transfer money or receive money now

53
00:04:06,640 --> 00:04:13,360
this is very useful for us if we keep it private because we can use this text to log in to our wallet

54
00:04:13,540 --> 00:04:19,330
from different computers or even if we remove tales from here and reinstall it on a completely different

55
00:04:19,390 --> 00:04:20,730
USB stick.

56
00:04:20,740 --> 00:04:25,080
All we have to do is start electron instead of choosing create a new seat.

57
00:04:25,090 --> 00:04:30,220
We're going to say we're going to restore from an existing seat put this text and you'll be good to

58
00:04:30,220 --> 00:04:34,950
go you'll be able to log into your wallet and you won't lose any money.

59
00:04:34,990 --> 00:04:39,310
So right now I'm going to copy this and I'm going to put it in a text editor.

60
00:04:39,310 --> 00:04:44,280
Now I know it's said Don't do this but I'm going to do it anyway for the sake of this video.

61
00:04:45,110 --> 00:04:46,670
And we're going to click on Next.

62
00:04:47,230 --> 00:04:52,870
And in the next window it's literally asking you to paste the seed in here just to make sure that you

63
00:04:52,870 --> 00:04:55,660
actually stored it somewhere and you remember it.

64
00:04:56,620 --> 00:04:57,910
So I'm going to go here.

65
00:04:57,910 --> 00:05:05,990
I'm going to select all copied and pasted here and we're going to click on Next.

66
00:05:06,000 --> 00:05:12,360
Now it's going to ask you to choose a password to encrypt your wallet again use a long and strong password

67
00:05:14,400 --> 00:05:20,710
and we're going to keep this option checked to encrypt the wallet file that will be stored on this computer.

68
00:05:20,760 --> 00:05:23,920
I'm going to click on next and that's it.

69
00:05:24,000 --> 00:05:29,730
Our wallet is set now as you can see here the main thing you want to check is the balance.

70
00:05:29,730 --> 00:05:36,300
As you can see we have zero micro bitcoins because we haven't really transferred anything in here.

71
00:05:36,300 --> 00:05:37,880
This is our balance.

72
00:05:37,890 --> 00:05:41,180
You can also see in here the blue circle.

73
00:05:41,220 --> 00:05:42,930
Now this circle will be red.

74
00:05:42,930 --> 00:05:45,790
If you're not connected it will be green.

75
00:05:45,840 --> 00:05:52,250
If you're connected directly and it'll be blue if you're connected over the Tor network.

76
00:05:52,620 --> 00:05:58,710
So electoral is just software that you can install on any operating system and you can see that if you

77
00:05:58,710 --> 00:06:04,920
install this on any other operating system other than tables and create a new wallet you'll see this

78
00:06:04,920 --> 00:06:11,460
circle right here will be green not blue because you'll be connected directly through the clear net

79
00:06:11,810 --> 00:06:18,720
but because this is blue in here we know that we are more anonymous and more private because we're connecting

80
00:06:18,900 --> 00:06:20,000
using Tor.

81
00:06:20,070 --> 00:06:25,950
So we can be rest assured that all the traffic that is sent to us from electrons is going through the

82
00:06:25,950 --> 00:06:29,120
Tor network first.

83
00:06:29,200 --> 00:06:34,390
Now you can also see in here we're already by default in the history tab where you can see all your

84
00:06:34,390 --> 00:06:35,300
transactions.

85
00:06:35,350 --> 00:06:38,570
Again I have nothing because I haven't done any transactions.

86
00:06:38,830 --> 00:06:46,240
You can use the receive tab to get your receiving address and you're receiving QR code you can use these

87
00:06:46,240 --> 00:06:50,740
you can share them with anybody that you want to receive money from.

88
00:06:50,740 --> 00:06:57,460
And they will be going to their sent up and they will either use your receive address or use your QR

89
00:06:57,460 --> 00:07:00,110
code to send money to you.

90
00:07:00,430 --> 00:07:01,810
And that's pretty much it.

91
00:07:01,810 --> 00:07:03,790
So now we have our wallet.

92
00:07:03,970 --> 00:07:08,710
And as you can see electron is a very simple program that is easy to use.

93
00:07:08,740 --> 00:07:10,450
Don't worry too much about using it.

94
00:07:10,450 --> 00:07:15,670
We are going to use it more in the next lectures and you'll get very comfortable with it because as

95
00:07:15,670 --> 00:07:17,490
you can see it's simple enough.

96
00:07:17,490 --> 00:07:17,890
Anyway.