Homework-Task 2 on Blockchain Wallet- Chapter-2 Given by @sapwood


Hello Steemians, greetings to you, how are you doing today. I want to use this opportunity in thanking @sapwood our steemit professor for whom his homework has really help me a lot indeed professor I must say that I enjoy reading your contents over and over.

SourceHow do I download & install a wallet? Examples(Hint- Etherum, Tron, etc or any other you wish to)?To download & install a Wallet for example Tronlink walletHow do I download & install a wallet? Examples(Hint- Etherum, Tron, etc or any other you wish to)?To download & install a Wallet for example Tronlink wallet
images (2).jpegSource

  1. Go to your Android or iOS app store/Google play store.Search on Tronlink Wallet and download. (For Steemians you can download the Tronlink Wallet directly from your wallet).
  2. Open the app and clicked on create or import existing Wallet.
    Note If you clicked on “Create Wallet” it will prompt you to enter in a password. A secure password is required of you to continue. Store the password somewhere that is safe in case you forget your password one day it will be of help. Should in case you already have an account before click on import existing account, it will prompt you to enter your private key.
  3. Write down the recovery words and set a secure password.before you can access the wallet.

How do I restore a wallet using a Private key/Mnemonic key/Keystore file?
You can easily restore a wallet using a private key, mnemonic key or keystore file using Iancoleman. What you have to do is to input your recovery phrase in the "BIP39 Mnemonic" box. The next step is for you to choose the coin that you want to export on the drop-down list.

Find your wallet address and copy the private key that corresponds to it. In the case of Steemit your wallet/account can be restore using your memo/master key which must be completed within 30days of your password being compromise.so it's always advisable to safe it offline in different places that you can.

How important is the Mnemonic key or Private Key or Keystore File during the installation/restoration of a wallet?
The Mnemonic private key or keystore file are very important during installation/restoration of wallet, because when you install a new wallet on your device with the help of the private key you can easily login and gain access back to your wallet. In terms of restoration of wallet the Mnemonic key is very important because Is the key that will help you restore back your wallet if it has being compromise.

How do you store/secure your keys? Examples? Any Blockchain wallet you have used before, having the experience of any/all the three forms of keys-- Private/Mnemonic/Keystore file?
I store my keys in several places, I have a special drive and email where my keys are being store. And storing this key I don't used they titled in saving it but rather I used something else in saving it should in case it got compromise the person will not know what it's for. Another way which I have store my key is that I have wrote it on several paper and put it in a secure place.

Thank You


Comments 1


Thank you for submitting homework task-2 in Crypto-Academy.

Write down the recovery words and set a secure password.before you can access the wallet.

Recovery words/phrase/seed is always important. Make sure you keep them in a safe place in the correct sequence too. The password set by you is relevant locally to your device whereas the recovery phrase is for universal control of your wallet. Therefore that should be kept secret all the time. If someone knows that seed phrase they can easily gain access to your wallet from some other device.

If you are using the Keystore file to restore your account, then you need the password(set by you in the previous installation) too to unlock your wallet. So the password set by you is important if you are using the Keystore file.

Keystore File+Password(set by you) ~ Private Key

I store my keys in several places, I have a special drive and email where my keys are being store. And storing this key I don't used they titled in saving it but rather I used something else in saving it should in case it got compromise the person will not know what it's for. Another way which I have store my key is that I have wrote it on several paper and put it in a secure place.

Never keep it in your email, that is the most unsafe practice.

The best practice to secure your keys is to write it down on a notepad/piece of paper, better break it into 3/4 parts and keep them safe, off-line. Never take a screenshot, never try to store them in an email or cloud storage facilities. You can use a brand new Pen drive to store your keys. But always keep a hardcopy.

Thank you.

22.02.2021 09:53
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