Blockchain Wallet (Types, Uses, Installation) - Steemit Crypto Academy Season 5 - Homework Post for Task 9
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.
How do you store / secure your keys?
Some wallets require us to utilise our keys or passwords before doing certain operations or transactions, such as moving, exchanging, or spending our assets in them. We need to keep our keys safe and protected since the more we use them, the more we expose them, as well as our wallets, to financial hazards. It is critical to understand how to safely store our keys and guarantee that they are secure and secured.
Storage on the physical level:
This, I believe, is the safest approach of safeguarding our private keys. Physically storing our keys entails writing them down in a safe location, such as a hotter, book, or note. A smart hack is to simply write the keys without any titles, headers, or references to indicate what they signify or what they can be used for, so that only we know what they mean and what they can be used for.
The benefit of Cloud storage is that if we lose the keys we stored physically or on our devices such as our phones or computers where we stored our keys, we will be able to retrieve them because they are stored on the cloud, and this will be possible if we were able to set up a double factor protection system in the cloud. All we have to do now is log into our cloud account and obtain the keys, even if we're using a different device. The issue with this type of storage is that it is vulnerable to hacking.
This is also a great place to keep our keys. This is a method of copying our keys to a pendrive or other external storage device (not permanently connected to the to the PC or internet). We can avoid becoming victims of online hacking or cybercrime by storing our data in cold storage. We can also create a password on the device, which we can then use to create a password on the file where we keep our keys, ensuring that our keys are secure.
What are the different forms of private key (examples / screenshot)?
There are three different types of private keys:
Private key:
Almost all wallets provide us, their users, with this form of password or key to assist us secure, manage, and protect our assets. Private keys are usually very long, usually 20 characters or more, and contain a mix of uppercase and lowercase alphabets, making them difficult to guess. It's also known as a secret key, and it's used to encode and encrypt data as well as decode and decrypt it. Private keys allow us to have access to our assets and conduct transactions such as transferring and withdrawing funds for use. Because our private keys are very long and difficult to remember, it is recommended that we save them in a highly secure play to avoid us from losing them.
Mnemonic phrase:
Another sort of private key is a mnemonic phrase, which is a set of 12 or 24 syllables that can be used to recover a wallet and is also known as a Secret Recovery Phrase or Seed Phrase. It's usually utilised by crypto hardware wallets, and it's written down and kept safe in a paper. Mnemonic phrases can also be used to open our wallets on another device, allowing us to prove our ownership. Mnemonic phrases are written in a specific order, which means that remembering the words isn't enough; we also need to recall the order in which they were written.
Keystore file
Source
When users make a backup of their keys on their devices, the keystore file is normally created. These backups are saved as files on their PCs and can be used to restore their wallets.
Download & Install TronLink Wallet(Android/iOS/Extension)?
The following steps are below.
Complete Processing
First install TronLink wallet, open your browser and type TronLink into the search bar.
It will then look for and open the tronlink app in your Apple Store. To install/download, click on the download icon.
After you've downloaded and opened the programme, you'll be sent to this page to create or import an account.
For those who do not yet have an account, I will select Create Account.
The User Agreement will now appear. To proceed, click Accept.
You now give your wallet a name and proceed to the next step.
Then, select Next Step after creating a strong password that meets all of the requirements.
- To ensure that you remember your new password, you must re-enter it. After that, click Confirm.
- You will be given a mnemonic phrase, which you must memorise and keep safe because you will need it to recover your account if you forget your password or to import your account onto another device. It is required that you write it down, precisely like I did. Because exposing all of the words would be dangerous, I covered parts of them.
- Then you'll be prompted to enter the above-mentioned mnemonic phrase and complete the registration process. The image above depicts my account after it was created.
How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?
The first step in storing our key is to manually write it down on a piece of paper or in a notebook. After that, we can take a picture of our keys written on paper, notebook, or notepad, save it on a pendrive or an offline device that isn't always linked to the internet or a computer, and password-protect it. take a look at the photographs below.
Because it is dangerous to expose the mnemonic phrase, all of the words in the mnemonic phrase were blurred and covered in the images above.
Which form of the key are you comfortable with to handle your TronLink Wallet? Include Screenshots & hide/blur the sensitive information.
Because of how user-friendly the mnemonic key is, I am extremely comfortable with it. It's also appealing and easy to recognise in other ways. My Mnemonic Key, written in a notepad, is shown below.
Have a nice day
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Prof . @dilchamo
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