Crypto Academy Season 5 Beginners' Course - Task 9 : Blockchain Wallet-- Types, Uses, Installation,
GREETINGS
QUESTIONS
Q;1 || HOW DO YOU STORE/SECURE YOUR KEYS?
Q;2 || WHAT ARE THE DIFFERENT FORMS OF PRIVATE KEY(EXAMPLES/SCREENSHOT)?
Q;3 || DOWNLOAD & INSTALL TRONLINK
WALLET(ANDROID/IOS/EXTENSION)
Q;4 || HOW DO YOU STORE THE KEY (HINT- WRITE IT DOWN ON A NOTEPAD, DEMONSTRATE IT WITH EXAMPLES)?
Q;5 || WHICH FORM OF THE KEY ARE YOU COMFORTABLE WITH TO HANDLE YOUR TRONLINK WALLET? INCLUDE SCREENSHOTS & HIDE/BLUR THE SENSITIVE INFORMATION
INTRODUCTION
nowadays, the raising problems of criminals /stealing of peoples funds or cash cannot be stopped , however with the full use of a generated customized keys or passwords, such criminal acts will be reduced. That's the reason why, when we create an account with the (Bank) financial institution, she or he obtains the possibility to create or provided a customized password that offers the person the ownership or to take control over his or her account, it's most effective with the main use of the customised keys or passwords that all funds transactions or other-associated subjects can take place inside the account.
furthermore, according to the crypto space, when an investor or a trader makes a decision to put money into cryptocurrency, for him to do that he needs to create a wallet, and at the process a unique customized keys are been formed or created for the investor. Those passwords or keys is made to serves as the access key or password to his or her crypto coins which might be stored withinside the wallet of which can't be tampered with through other individuals except they have access to his keys. however Let's see how we can store and secure ours keys according to question numbers one👇👇
Q;1 || HOW DO YOU STORE/SECURE YOUR KEYS?
We have many ways we can possibly secure/store our keys. Here is where I personally store my own keys 👇👇
- {a} HARDDRIVE/USB DRIVE
- {b} HARDWARE WALLET
- {c} GMAIL
- {d} OFFLINE NOTESBOOK
{a} HARDDRIVE/USB DRIVE
HARDDRIVE is one of the tool I use in securing my keys, due to the fact that it serves or works as a restoration storage, in which I develop folder inside every of them and move a file layout of my password in it storage space, it allow me to access it offline rejecting the help of a web connection.
Actually this tool help me to copy and paste my keys, like most times if i want to do any transaction or I want to login to my wallet.
I will just go to the harddrive and copy the key I need then go back to my wallet and paste it.
Due to the fact of it exposure, I fill its safer to store my keys in the (HARDDRIVE).
{b} HARDWARE WALLET
for being a crypto trader, i normally make use of the hardware wallet to save all my private keys due to the that it is storage system works offline, and it can't be tampered by this criminals called hackers, despite the fact that my laptop is stolen. With the help of this hardware wallet, all my transactions in it system are highly confirmed and finalized, most effective by the display screen of this hardware system.
I additionally created an access pin code for that device in order to permit me to get entry to my keys withinside the device privately which additionally has some other passcode, Infact, with the help of this hard wallet, I keep in mind that my crypto investment are highly secure and safe regardless of it off-side.
{c} GMAIL
The GMAIL is an internet method in which i keep all my Keys like a file in a draft pattern. I normally change those keys into a document and send them direct to my Gmail account, it can't be access through different user and it can't be wiped easily.
+ {d} OFFLINE NOTESBOOK
With the help of this tool, i formed a page withinside the notebook in which i had to copy and paste my customized keys in it and store all of them with a complicated names that aren't recognizable, after which i turned it into a document layout and secure it with a acces pin code which can be recognized by me.
i additionally download the offline notebooks and install them on my different devices
in which only me has full control of it, due to the fact that I backed it up with a strong passwords
Q;2 || WHAT ARE THE DIFFERENT FORMS OF PRIVATE KEY(EXAMPLES/SCREENSHOT)?
When we talk about keys different forms of private keys, here are some of them👇👇
- {a} PRIVATE KEY
- {b} NEMONIC KEY
- {c} KEYSTORE FILE
- {a} PRIVATE KEY
The private keys are formed in a mixture of letters and numbers which can be individually generated by the cryptographic layout for a wallet. With the help the private key, a crypto wallet may be accessed and might approve a transaction. the image below shows and example of a private key👇👇👇.
- {b} MNEMONIC KEY
mnemomic keys are just inform of words or codes which are generally selected to 10 or more words to construct a collection of words which are frequently generated throughout the procedure of creating a brand new crypto wallet and it may be memorize depends on the owners, mnemonic keys are beneficial in retrieving a stolen or lost wallets together with other- associated wallet problems and those keys are scheduled to be store appropriately to prevent undesirable users/thief, the image below shows an example of a mnemonic key👇👇
{c} KEYSTORE FILE
keystore files are encoded diagram layout of a private key which are normally secured with words or passwords. This files is understood to be complex which makes it very difficult to be memorized and might simply be accessed by the real owner in retrieving his/her wallet or , this files are scheduled to be stored in a safe area to keep away from lost. the image below shows and example of a keystore file.👇👇👇👇
Q;3 || DOWNLOAD & INSTALL TRONLINK WALLET(ANDROID/IOS/EXTENSION)?
For me to perform this tasks, I will make use of my Google playstore, the procedures follows.
@STEP 1: I had to open my playstore and go to the search area, then I input TRONLINK WALLET,the image below explains more 👇
@STEP 2: (a) ,after you choose the tronlink Pro. Then click on the INSTALL icon to download the app,after the download you open the app then you click on the CREATE ACCOUNT icon, as the image blow shows,
When you choose IMPORT ACCCOUNT it actually mean that you already have an account with TronLink wallet either you want to retrieve it or to connect it to new application.
COLD WALLET, you can make use of this without the need of Internet connection, and may be stated to be at a high-quality protected environment,
@STEP 3: Then over to the next page, after going through thier polices, you click on the ACCEPT icon to continue.
After that you, will form a username you which to bear in the account, After that, you now click the NEXT STEP icon,
The image blow explains it better.
@STEP 4: Next, {a} you have to form a password of at least 8 characters up, containing upper case and lower case letters, plus numbers, after you click on the NEXT STEP, icon,
{b} re-enter your password in order to proceed, then click on the CONFIRM icon.
@STEP 5: Then You have to back up your mnemonic key by jotting it down on a paper, due to the fact that the application doesn't accept screenshot, after all that then BOOM
you have successfully created your TronLink wallet account,👇👇👇
Q;4 || HOW DO YOU STORE THE KEY (HINT- WRITE IT DOWN ON A NOTEPAD, DEMONSTRATE IT WITH EXAMPLES)
According to the screenshot and what I said earlier, You can notify that most of my keys are being stored in my personal Notepad/Notebook, and I also back it up with a password, which means that only me has total control of my keys
Email address is also one of the safest places i store my private keys, as I said earlier, I can access my keys even when my phone lost, all I have to do is to login to my email account and select any key of my choice,
Q;5 || WHICH FORM OF THE KEY ARE YOU COMFORTABLE WITH TO HANDLE YOUR TRONLINK WALLET? INCLUDE SCREENSHOTS & HIDE/BLUR THE SENSITIVE INFORMATION
Actually, I'm very comfortable with the private keys, due to the fact that it owns the
combination of both numbers and alphabet and best of it is that its more complicated due to that it can't be memorized, it pattern makes it to be more difficult and complex to tamper with.actually, the private keys makes a way- through in any transaction procedure which arise inside crypto wallet and may be stated to be the most treasured among all keys.
CONCLUSION :
the creation of technology has been useful to mankind, and it also made it viable for people who has a crypto blockchain wallet to have a customized created private keys, which makes the users to have full control and authority over every transaction that happenes in his/her wallet, additionally, it can't be manipulate by any individual,
I really learnt a lot from this lecture, all thanks to professor @sapwood for this well detailed lecture.