Crypto Academy Season 3 Beginners' course – HOMEWORK Post for Task 6 : Blockchain Wallet-- Types, Uses, Installation, etc. by @badmus-official

Image designed using whatsapp screenshot

Hello everyone, I welcome you all to the last task on the beginners fixed course, it's been a great pleasure learning in the community so far, which I really enjoy and hope more to come in the coming season. On this particular homework I would be giving details and screenshot on how to secure your wallet and the best safe pattern to use and as well I will be carrying on task making use of Tronlink Wallet app.

Question 1

How do you store/secure your keys? What are the different forms of Private Key (Examples/Screenshot)? Download & Install TronLink Wallet (Android/iOS/Extension)? How do you store the key (Hint- write it down on a notepad, demonstrate it with examples)? Which form of the key are you comfortable with to handle your Tron Link Wallet? Include Screenshots & hide/blur the sensitive information

How do you store/secure your keys?

Blockchain run on a decentralized system that is there is no KYC(Know your customer) which means any little mistake made on this platform are irreversible and can't be reversed by any high ranking channel or anybody since it's a decentralized system that is you are the only one in charge of your account information, your private keys and however you control it are totally up to you, so with this been said safekeeping your key is really important as there is no way around to restore it once lost. So best strategy of storing your keys are;

• Safekeeping in a diary: personally I do keep my wallet keys safe in a diary, since it's a personal book which I know no one would want to have access to since it's a diary where secrets and all are kept, so it's in a better sense that not anybody can have access to that except me.

• Cloud Storage: Although it's totally a bad habit to safekeep a wallet on cloud or any internet platform has its can easily be hack but there are still ways to work around it, which is by turning on two-step verification on the storage i kept it on, in a sense that if anyone is trying to hack to the account I created purposely for wallet keys I'd be notified immediately and the two step verification will require hackers to give personal details which only i knew of so this method can as well works for you.

NB: this storage account should purposely be created only for your wallets keys not other purpose.

What are the different forms of Private Key (Examples/Screenshot)?

• Private Key
• Mnemonic Key
• Keystore File

Private key is one of the three forms security key given to new users on a blockchain wallet, which takes couple of various structures and are normally portrayed as a progression of alphanumeric characters, which makes it difficult for hackers to break through.

Example;

Image Source

• Mnemonic Key

The Mnemonic Key is another form of security key on a blockchain address and are at large made out of 12, 15, 18, and 21 words. These words are choosing at random which made it in impossible for even anyone to guess about and are running on full encryption just like other private keys.

Example;

Image Source

• Keystore File

Keystore File are secret phrases that are related with a couple of keys in a sense that they can be considered as an assortment of public and private keys as they are matched together to create certificate which is implanted in your application.

Example;

Image Source

Download & Install TronLink Wallet(Android/iOS/Extension)? How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?

Step by step on how to download TronLink Wallet and properly create a Tronlink wallet account

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• Step7

A backup page is then launch directing you to Backup Mnemonic which you then click on the tab space provided Back up now.

• step8
  The page then launches your Mnemonic phrase which are 12 words, advisably you back up these words in a diary which you are sure no one has access to except you.

• step9
  You are now required to input the Mnemonic phrase you put down to sign in to the account page

• step10
  After a successful account creation then you should be lanch to your account page with your wallet name displaying at the top of the account as shown below.

How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?

I stored the Mnemonic key on a notepad for now , which I plan on importing later to my diary and sooner will make disposable of the jotter I wrote it in.

Which form of the key are you comfortable with to handle your TronLink Wallet? Include Screenshots & hide/blur the sensitive information.

The key I found comfortable with to handle My Tronlink wallet is the Mnemonic Key simply because it's in a readable format unlike the private key which is so long and look gibberish. I can handle best with the Mnemonic Key because it's so easy to memorize and can be tricked safe incase am expose to intruder, it's easier to manipulate by switching the the words, In a sense that I will be the only who know my way around with it.

Conclusion

The beginners fixed courses has been great so far, I can acknowledge have learnt in large so far and this topic was extremely great and relevant in the crypto world has it entails the importance of safeguarding private keys and the best format to keep our keys, thanks to prof @sapwood it's in no doubt his lecture made it extremely easy to navigate all around the securities.

Thank you all for reading up! It's been great so far and I hope to see more of you amiable professor's in the coming season.