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Backup Guide (Back up) Blockchain wallet
Have you ever heard of the term Blockchain wallet? Surely it is, isn’t it? Recently, Block wallet has been mentioned and exchanged by many customers. So what do you know about Blockchain wallets? Today, through this article, let’s learn about Blockchain wallet and instructions to backup (Back up) Blockchain wallet.
About Blockchain wallet
Your exchange wallet, desktop, and mobile are examples of hot wallets, aka online wallets. Think of this as cash that you carry in your wallet. You can easily access them whenever you want, but they are much more risky than the money you have stored in your savings account. If you are someone who conducts crypto transactions frequently, you will want to store some of your crypto in these hot wallets.
However, as we said before, your hot wallet is more at risk of being targeted by hackers/attackers. Cryptocurrency exchanges are prime targets for these hacks. The first thing you need to do is open up everything you know about traditional wallets. You must remember that:
- Technically, you are not using your bitcoin wallet to store any coins.
- These coins, in question, are all digital currencies.
- Technically, no one is actually sending you money. You are just updating the blockchain state.
The core principle behind blockchain wallet functionality is public key cryptography. We’ve covered this topic in depth before, but we’re just giving you a brief overview. Public key cryptography works using the principle of keys and locks.
Backup Guide (Back up) Blockchain wallet
A Bitcoin wallet backup is basically a file containing all the private keys for your public addresses, so in case your Bitcoin wallet is lost or stolen, you can always get your Bitcoins back. mine. To backup your Blockchain wallet, you need to follow 3 steps:
B1: Open the wallet you want to backup
B2: Search backup wallet or export private key
Step 3: Save your backup to Flash drive. Save your exported backup to a flash drive and keep it in a safe place. Some wallets will allow you to password protect your backup so that if someone gets hold of the file, they won’t be able to use it. Now if for some reason you lost your Bitcoin wallet – for example, someone stole your mobile device.
You can just open a new client, import this backup and transfer Bitcoins from that wallet to the new wallet. Blockchain.info even has a very handy option that automatically sends you backups to your posting account or Google drive which you might want to look into. Remember, all backups are lists of your private keys. Anyone with your private key owns your Bitcoins.
Above is the guide to backup (Back up) Blockchain wallet. We hope that through this article, you will understand the simplest way to back up and protect your account. If you have any questions, don’t hesitate to contact us to get a response as soon as possible. Thank you for reading the article.
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