This section of the Coinme blog will breakdown all the key parts of a bitcoin wallet and highlight some critical information. We created this section to act as both a Coinme user guide and to help our users understand more about bitcoin technology.
If you haven’t set up a Coinme account yet, please check out this page to get started.
One of the really cool and super unique things about a Coinme bitcoin wallet is that it allows users to easily convert cash into bitcoin. It’s one of a few services out there that bridges the gap between the legacy physical money system (in this case, US dollars) and the new digital money system (in this case, bitcoin).
The first thing you will notice when setting up a Coinme wallet is that it asks for a voucher number. A Coinme voucher is what you will get each time you deposit cash at one of the kiosks in the Coinme network.
Another important aspect of the Coinme wallet setup is submitting a photo ID and a photo of yourself to confirm your identity. This is standard operating procedure across the financial technology world, and it helps make sure that all parties involved in the creation and use of a new Coinme wallet are following all of the necessary banking regulations.
Once your Coinme bitcoin wallet is set up you will be able to send and receive bitcoin all over the world! You will also be able to keep adding cash to your bitcoin wallet — up to $2,500 a day.