How-To Guide: Getting Started with Coinos Web Wallet

This post was originally published on https://tftc.io by Staff.

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Introduction

Coinos is a user-friendly web wallet for bitcoin that provides a variety of payment options, including a merchant point-of-sale terminal. This guide, created in video form by BTC Sessions and translated to written form by TFTC, will help you set up your Coinos account, understand its features, and recognize the trade-offs of using a web wallet.

Prerequisites

• No extensive prerequisite knowledge is required.
• Basic understanding of bitcoin transactions, lightning, and liquid networks is a plus.

Setting Up Coinos

Creating an Account

1. Visit the Coinos website at coinos.io.
2. Click on "Start in seconds."
3. Enter your email address and create a password.

Customizing Your Profile

• Log in to your Coinos account.

• Navigate to the settings by clicking on the menu in the top right corner.

• In the settings, you can:

• Set a username for easy payments.

• Update your display name and profile image.

• Add a banner image and a short bio.

• Configure your email for payment notifications.

• Save all changes by clicking "Save Settings."

Adjusting Preferences

• Under the Preferences tab in settings:

• Select your preferred language and currency.

• Enable payment notifications.

• Opt to display a tip button on your page.

• Set up a Shopify integration if required.

Enhancing Security

• In the Security tab:

• Change your password if needed.

• Enable a security PIN.

• Set up two-factor authentication for additional security.

• Save the NOSTR key for decentralized social media integration.

Receiving Payments

On-Chain Bitcoin Payments

1. Click "Receive" on your Coinos account.
2. Choose to receive via regular bitcoin payment.
3. Share the generated QR code or copy the bitcoin address to receive funds.

Liquid and Lightning Payments

1. For Liquid payments, select the "Liquid" option when receiving.
2. For Lightning payments, select the "Lightning" option.
3. Share the QR code or copy the respective address or invoice to receive funds.

Unified Balance

• Coinos combines all your funds into one balance, irrespective of the payment method used.

Sending Payments

On-Chain Bitcoin Payments

1. Click "Send" on your Coinos account.
2. Enter or scan the recipient’s bitcoin address.
3. Specify the amount and choose the network fee.
4. Confirm and send the payment.

Liquid and Lightning Payments

1. Choose to send via Liquid or Lightning options.
2. Input the recipient's address or invoice.
3. Set the amount and send the payment with minimal fees.

User-to-User Transactions

• Utilize the Coinos username feature to send payments to other Coinos users without additional fees.

Installing Coinos as a Progressive Web App

1. Access Coinos through the browser on your mobile device.
2. Use the browser's menu to select "Install app" or "Add to home screen."
3. Launch the Coinos app from your home screen for a more immersive experience.

Using the Coinos Map

• Explore the Coinos map to find merchants that accept bitcoin via Coinos.

Final Considerations

• Coinos is a custodial wallet, meaning the service holds your bitcoin keys. Practice moving towards self-custody for larger amounts.
• Withdraw funds using the method that best suits your needs (on-chain, Liquid, Lightning).
• For further assistance or private education sessions on bitcoin, visit btcsessions.ca.

Remember, always strive for self-custody and use Coinos as a stepping stone to familiarize yourself with bitcoin transactions and management.