Hello Steemians, I hope you all are having a great day. Blockchain wallets are essential in the crypto world as they help us store, send, and receive cryptos. It is only necessary for us to understand the different types, uses, and install them. Prof @sapwood did a great job explaining all these and more. I will be doing the homework task from the lesson.
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 TronLink Wallet? Include Screenshots & hide/blur the sensitive information.
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How do you store/secure your keys
Storing your keys is necessary as it helps you protect your cryptos from theft, and also, in case of a stolen or lost device where the wallet was installed, the stored keys can be used to restore the wallet to a new device.
I store my keys using two different methods. First, I save it in the email that I created for the sole purpose of saving essential details. This way, it is held, and I can access it anywhere there is the internet. Second, I use a different email not sync to my other mails and not added as an account on any device, reducing access to it to my sole self.
I also save my keys by writing them down in my journal. I keep my journal safe as it contains lots of essential and personal details.
What are the different forms of Private Key
There are three different forms of private key namely;
Private Key
This is a string of alphanumeric characters created by a cryptographic function in your blockchain wallet. This Key can be used to restore your cryptos to a new wallet. An example of a private key is shown below.
Mnemonic Key
These are readable, easily memorized, random words used to restore a wallet, set a password, and secure the wallet. These are usually 12-24 word combinations that do not make sense and are stored in the same order. An example of a mnemonic key is shown below.
Keystore/JSON File
This is another form of the private key. The Keystore file alone is not a private key. When a wallet is to be restored, the Keystore file backed up when the wallet was set up is used with the password created when creating the wallet.
Download & Install TronLink Wallet
Tronlink wallet is available for download on different devices.
Android, IOS, and Tronlink wallet extension. I will be downloading and installing the Tronlink Wallet extension.
How to Download, Install, and Setup a new Tronlink Wallet Extension.
First, we visit the www.tronlink.org site and click on the chrome extension
On clicking on the chrome extension, a new page opens; click on the add to chrome then click on add extension
The Tronlink extension has been added to chrome, as shown below.
Click on the Tronlink extension, the wallet will open. Input your new password and repeat it.
Click on continue. on the next page, click on Create
Next input account name
Click on continue.
The Tronlink wallet uses the Mnemonics Key, and these are displayed. Therefore, copying the 12-word mnemonic Key in a safe place with the same sequence is vital.
Click on continue. On the next page, you will confirm you have stored the keys properly by clicking them orderly. After which, the wallet is set up as shown below.
How do you store the key
The Mnemonic Key given by the Tronlink wallet can be stored differently. I stored mine by writing it down in a notebook and kept it out of reach from anyone else. This helps secure my wallet and can be used to restore my wallet.
Which form of the Key are you comfortable with to handle your TronLink Wallet?
I prefer the Mnemonic Key as it is readable and easy to memorize. This makes it my favorite has I can easily recall it without needing to source for it. In addition, it does not look like the conventional passwords or Key so it can be disguised in plain sight.
Conclusion
In a blockchain wallet like Tronlink, safekeeping of the private Key is the sole responsibility of the wallet owner, so it is vital to know the best form of private Key that suits you and how best to store it. Furthermore, the private Key gives us access to our crypto wallet from anywhere in the world and any device, so the importance of safekeeping the private Key can not be overemphasized.
Thanks.