How to Set Up a Bitcoin Wallet — A Beginner’s Guide
How to Set Up a Bitcoin Wallet — A Beginner’s Guide
Before you can buy Bitcoin at an ATM — or anywhere else — you need one thing: a Bitcoin wallet. The good news is that setting one up is completely free, takes about two minutes, and doesn’t require any technical knowledge.
This guide explains what a Bitcoin wallet is, which one to choose, and how to set it up step by step so you’re ready to use a Bitcoin ATM.
What Is a Bitcoin Wallet?
Despite the name, a Bitcoin wallet doesn’t actually store Bitcoin the way a physical wallet stores cash. Instead it stores your private keys — the unique codes that prove ownership of your cryptocurrency on the blockchain.
Think of it like this: your Bitcoin lives on the blockchain (a global public ledger), and your wallet is the key that lets you access and move it. Without a wallet, you have no way to receive, store, or spend your crypto.
For most people using a Bitcoin ATM, a mobile wallet app on your smartphone is all you need.
Types of Bitcoin Wallets
Mobile Wallets (Best for Bitcoin ATM users)
These are apps on your smartphone. They’re free, easy to use, and generate a QR code that the ATM scans to send your crypto. This is what you want if you’re planning to use a BitcoinNW kiosk.
Hardware Wallets (Best for large amounts)
Physical devices like Ledger or Trezor that store your crypto offline. More secure for large holdings but not necessary for casual ATM use.
Exchange Wallets (Convenient but not recommended)
Wallets tied to exchanges where you don’t fully control your own keys. The crypto community has a saying: “not your keys, not your coins.” For true ownership and security of your crypto, a self-custody wallet like Exodus is always the better choice.
The Best Free Wallet Apps for Bitcoin ATM Users
1. Exodus (Our Top Pick)
Available on iOS, Android, and desktop. Exodus is our top recommendation for Bitcoin ATM users — it has a beautiful, intuitive interface, supports all the coins available at BitcoinNW kiosks (BTC, ETH, LTC, SOL, XRP, USDT, DOGE, and BNB), and gives you full control of your private keys. It’s completely free and takes just a couple of minutes to set up.
2. Trust Wallet
Available on iOS and Android. Supports a wide range of cryptocurrencies and is a solid choice for users who want to hold many different coins in one place. Clean interface and easy to use for beginners.
3. Mycelium (Bitcoin only)
A dedicated Bitcoin-only wallet for users who want simplicity and strong security. A great choice if you only plan to buy and hold Bitcoin and don’t need support for other coins.
Tip: Any of these wallets will work perfectly at a BitcoinNW ATM. The most important thing is that you can find your receive address and show it as a QR code at the machine. Exodus makes this especially easy.
How to Set Up Exodus Wallet — Step by Step
Here’s how to get your Exodus wallet ready before your first BitcoinNW ATM visit:
Open the App Store (iPhone) or Google Play Store (Android) and search for "Exodus Crypto Wallet."
Download and open the app. Tap "Create a New Wallet."
Set up a strong password or enable biometric login (Face ID or fingerprint). This protects your wallet if someone picks up your phone.
Back up your recovery phrase. Exodus will show you 12 words — write these down on paper and store them somewhere safe offline. This is the most important step. Anyone who has these 12 words has full access to your wallet.
Your wallet is ready! To find your Bitcoin receive address, tap the Bitcoin (BTC) icon, then tap “Receive.”
A QR code will appear on screen — this is what the BitcoinNW ATM camera scans to send your Bitcoin directly to your wallet.
Tip: Before heading to the ATM, open Exodus and navigate to your Bitcoin receive screen so the QR code is ready to scan. It saves time at the machine.
Wallet Security Tips
Never share your recovery phrase (12 words) with anyone — ever. This is the master key to all your crypto.
Write your recovery phrase on paper — don’t screenshot it or store it digitally.
Use a strong PIN or biometric lock on your wallet app.
Only download wallet apps from official app stores — beware of fake apps that steal your funds.
If anyone online offers to help you set up your wallet and asks for your recovery phrase, it’s a scam. Stop immediately.
Frequently Asked Questions
Is Exodus wallet free?
Yes — Exodus is completely free to download and use. You only pay small network fees when sending crypto, which are built into the transaction and clearly shown before you confirm.
Can Exodus hold multiple cryptocurrencies?
Yes — Exodus supports all the coins available at BitcoinNW ATMs including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), Ripple (XRP), USDT, Dogecoin (DOGE), and Binance Coin (BNB). You’ll have a separate receive address for each coin.
What happens if I lose my phone?
As long as you have your 12-word recovery phrase written down, you can reinstall Exodus on a new phone and restore full access to your funds. This is exactly why backing up that phrase is so critical.
Do I need to set up my wallet before going to the ATM?
Yes — you’ll need your wallet QR code ready at the machine. We recommend downloading Exodus and completing setup at home before your visit so the process is quick and smooth when you arrive.
Wallet Ready? Find a BitcoinNW ATM Near You.
Once your Exodus wallet is set up, you’re ready to buy Bitcoin at any BitcoinNW kiosk. With locations across Oregon, Idaho, and Utah — including Portland, Beaverton, Salem, Bend, Medford, Boise, Idaho Falls, Coeur d’Alene, Orem, and Murray — there’s likely one near you.
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