Setting up and using your new trezor

Step 1 TZ1N.1.01

plug in the trezor to your computer and enter www.trezor.io

select wallet as shown by the arrow.

TZ1N.1.02 click on   wheel then advanced

TZ1N.1.03 enter your label – something that makes sense to you




Step 2 [TZ1N.2.01 ] write down the 24 words that you see on your trezor

write them clearly so the order is obvious to you

step 3 [TZ1N.3.01] create your numeric password

usually 4 or more numbers  without a zero. Write this number beside the 24 words from the previous step.

Everytime you need to type your password, the trezor gives a new arrangement, and you type them into the corresponding space. This is to ensure that no one can take over your computer and spy on you unknown to you. This process of spying is called “keylogging” and it’s common to have this kind of attention if you should inadvisedly sign in to an adult site. Pay attention because if u get it wrong 3 times, trezor makes you wait before you can try again. This is to prevent someone else knowing part of your code and they  would need to keep guessing to find the right combination.

step 4 [TZ1N.4.01] Check out denominations of bitcoin

on the basics menu. This gives you examples of how you specify the amount of bitcoin to send. In this lesson we are dealing with very small amounts, in fact your guide will send you $5 approx and you will send 2 cents back to them.

 

As of dec 2017, the minimum fee is 1 satoshi per bye, where the average tx is 229 bytes (less than half a cent) . The average fee is 20 satoshis per byte , that is around 8 cents.

[TZ1N.4.02] select coin as bitcoin cash = BCH

[TZ1N.4.03] SET UP two 2 additional addresses

We recommend
address #1 for your weekly / monthly budget address
address #2 for your petty cash and micro-payments
address #3 for your savings account

 

send the hash address [your public  key] to your guide via email / skype / fb.
Later on in the lesson you will send your guide the QR code icon as the means of transfer.

 

[TZ1N.5.02a]  select the coin

[TZ1N.5.02b ]

  select transaction [status] soon after your guide has sent the $11 you will see a comment such as  “5 mins ago” , this means the tx was picked up by the miners 5 mins ago and is being processed .

[TZ1N.5.03] confirmed

your tx has been successful because you see the date stamp the block was written.

This means you’ve has 6 confirmations since the block containing your tx was written. In other words  a further 6 blocks have been mined since your block.

step 6 check the health of the ecosystem of bitcoin cash
[TZ1N.6.01BCH]

click here for the display of blocks per hour.

the optimal rate is 6 blocks per hour.

[TZ1N.6.01BTC]

click here for the dispaly of how blocks are being mined on the other side of bitcoin: bitcoin legacy or bitcoin-BTC.  If blocks are slow on one of the chains, then probably the blocks may be fast on the other, because often miners are swapping across the chains.

 

step 7 send 2 penny / cent to your guide

enter your password

confirm details on trezor

confirm details again on the trezor

click on tx hash

double click on tx hash and right click

click on copy

click here for blockchair info

click on bitcoin cash tx

check the amount is 2 cents and wait for 6 more confirmtions , that is the completion of 6 miore blocks after block # 508502 where your tx resides.