> For the complete documentation index, see [llms.txt](https://docs.leather.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.leather.io/learn/open-bitcoin-account.md).

# How to Open a Bitcoin Account: Step by Step Guide

Open a Bitcoin account with a self-custody wallet or an exchange. The steps, what you need and how to keep it safe.

A Bitcoin account is a wallet: either a self-custody wallet that you control, or an account at an exchange that holds bitcoin for you.

## With a self-custody wallet

1. Install a wallet app or browser extension from its official source.
2. Create a new wallet. The wallet shows a Secret Key (recovery phrase).
3. Write the Secret Key down and keep it offline. It is the only way to restore the wallet.
4. Set a password for the device.

You need no account or ID. In Leather, see [Install Leather](/get-started/install-leather.md) and [Create a New Wallet](/get-started/create-new-wallet.md).

## With an exchange

1. Sign up on the exchange's website or app.
2. Set a strong password and turn on two-step verification.
3. Verify your identity as the exchange requires.

The exchange holds the keys. See [Custodial vs. Non-Custodial Wallets](/learn/custodial-vs-non-custodial-wallet.md).

## How the keys work

* A **public key**, and the address made from it, is like an account number. Share it to receive bitcoin.
* A **private key**, backed up as your Secret Key, is like the key to the vault. Anyone who has it can spend your bitcoin.

## Keep it safe

* Never share your Secret Key, and never type it into a website.
* Back it up on paper or metal, and keep copies in separate safe places. Never store it in a screenshot, email or cloud note.
* Use a separate wallet or account for apps you do not fully trust.
* Consider a hardware wallet for larger amounts.
* Avoid public Wi-Fi for wallet use.
* Check your activity regularly.

See [Secure Your Secret Key](/wallet-and-security/secure-secret-key.md).