Blockchain Wallet --Types, Uses, Installation, etc - Steemit Crypto Academy Season 4 - 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
INTRODUCTION
Today, the raising issue of thief/stealing of individual funds or money can not be scrubbed out but with the use of a generated personalized passwords or keys, such can be reduced. That is why, when one opens an account in a financial institution (Bank), he or she is offered an opportunity to create or offered a personalized password which gives the individual the authority over the created account of which it is only with the use of the personalized passwords or keys that transactions of funds or other-related matters can take place within the account.
Similarly within the cryptocurrency space, when a trader or an investor decides to invest in cryptocurrency, an account of which has a wallet is created and on the process, different personalized keys are been generated for the individual. Those keys made available serves as an entry key to the crypto coins that are stored in the wallet of which can not tampered by other-user unless he has the keys in their possession. But then, the question is: How do I secure and store my keys?
HOW DO YOU STORE/SECURE YOUR KEYS?
There are different ways where one can store and possibly secure it keys. For me, here are the following ways on how I store my personalized keys for my wallets:
- HARDWARE WALLET
- HARDDRIVE/USB DRIVE
- OFFLINE NOTESBOOK
- GMAIL
HARDWARE WALLET
As a crypto trader, I use hardware wallet to store my private keys because of it's offline storage system which cannot be tampered by a hacker even if my computer is stolen. With the use of this hardware wallet, my cryptocurrency transactions are verified and finalized only through the screen of that hardware device.
I also generated an entry pin code for the device which will allow me to access my keys in the device privately which also has another passcode to the keys. Infact, with the use of this wallet, I consider my crypto coins investment safe and and secured despite it off-side.
HARDDRIVE/USB DRIVE
Personally, I use the above tool (HARDDRIVE/USB DRIVE) because is serves as a recovery storage of which I create a folder in each of them and export a document format of my keys into it storage space which I operate offline without the need of an internet connection.
Copy/pasting is what I do with this tools. That is, whenever I want to process a transaction or sign into my wallet, I do copy the keys from my USB DRIVE OR HARDDRIVE and paste it where necessary. Because of it vulnerability, I keep those tools in a place which are best known and safe to me.
OFFLINE NOTESBOOK
While using this, I create a page in the notebook where I copy my personalized keys into it and save them with names that are not recognizable and then covert it into a document format and lock it up with a entry pin code which are known to me.
These offline notebooks application has been downloaded into my different devices that can only be accessed with a personalized multiple pin code.
GMAIL
This tool is an online means where I store up my Keys as a document in a draft format. I usually convert my keys into a document and export them into my Gmail account which can not be operated by other user and cannot be erased so easily.
WHAT ARE THE DIFFERENT FORMS OF PRIVATE KEY(EXAMPLES/SCREENSHOT)?
The following are the three different types of keys made available:
- PRIVATE KEY
- MNEMONIC KEY
- KEYSTORE FILE
PRIVATE KEY
These are keys that are formed in a combination of numbers and letters which are personally generated through a cryptographic format for a wallet. With the use of those keys, a cryptocurrency wallet can be accessed and can process a transaction. An exampke of a private key is what you see below:
Designed with PowerPoint/Private key sourceMNEMONIC KEY
These keys are words or codes that are randomly selected into 12 or more phrases to form a group of word that are often generated during the process of opening a new crypto currency wallet and can be memorized. Such keys are useful in recovering stolen or damage wallets along with other- related wallet issues and as such, those keys are expected to be kept safely to prevent unwanted users/thief. Here is an example of a mnemonic key:
Designed with PowerPointKEYSTORE FILE
These are encrypted representation format of a private key that are usually secured with a passcode or word. This files is known to be complicated which can not be memorized and can only be used by the authorized user in recovering their wallet or more, those files are expected to be kept in a secured places to avoid lost. An example of a key store file is found below:
Designed with PowerPoint/keystore sourceDOWNLOAD & INSTALL TRONLINK WALLET(ANDROID/IOS/EXTENSION)?
According to the instruction, I will be using goggle play store to download the Tron link wallet and here are the procedures:
STEP 1: Open to your paly store and search for TRONLINK WALLET, As you can see from the image below.
STEP 2: (1) When found, click on INSTALL after downloading, Click on OPEN to proceed.
(2) Click on CREATE ACCOUNT to continue, just as you can see from the image below
(If you select IMPORT ACCCOUNT that means you have a Tron wallet account that you want to recover or connect to the new app while the COLD WALLET is used without an internet connection and can be said to be at it best secured environment)
STEP 3: Next, read through the agreement and polices list that will appear and click on ACCEPT to proceed,
(2) Then, Create a username that the account will bear, just as the image below shows and click on NEXT STEP.
STEP 4: Next, Create a password that contains upper and lower alphabets along with numbers (at least in order to have a strong password) then click on NEXT STEP,
(2) Fill in your password again in order to confirm it, then click on CONFIRM to finish up.
STEP 5: After backing up the mnemonic key along with it due process, Then, the account has been created successfully, as you can see from the image below.
HOW DO YOU STORE THE KEY (HINT- WRITE IT DOWN ON A NOTEPAD, DEMONSTRATE IT WITH EXAMPLES)?
From the image example above, You will understand that, personally I store some of my Keys in my Notepad and save them with a name and lock it up with a passcode of which can not be accessed without my permission or the entry code.
My email address is another medium I use to store up the key because of it secured environment that requires a password and other information before it can be accessed through. As earlier mentioned, those medium are few among many of where my keys are kept and secured.
WHICH FORM OF THE KEY ARE YOU COMFORTABLE WITH TO HANDLE YOUR TRONLINK WALLET? INCLUDE SCREENSHOTS & HIDE/BLUR THE SENSITIVE INFORMATION
Personally, private keys are more comfortable and flexible to my usage,
Because it has a combination of both alphabet and numbers which are generated from a function that can not be easily memorized or copied, it format makes it more complex and difficult to tamper. Infact, the keys create a way-pass in any transaction process that occur within a crypto wallet and can be said to be the more valuable among all.
SCREENSHOT EXAMPLE OF A PRIVATE KEY
CONCLUSION
Thanks to the innovation in our technology which has made it possible for individuals who own a crypto wallet to have a personalized generated private keys of which offers an authority over any operation within the wallet. Hence, it is a responsibility for all who own such to store and secured those private keys provided for them in order to avoid lost of funds that are in their wallet which can be tampered by unwanted individuals if careful measures of secured storage are not taken. Thank you so much for this well-detailed lesson, I hope to learn more from you next time.