Crypto Academy Season 3 Beginners course : Task 6 by @hibbanoor :Blockchain Wallet types and uses

Hello everyone. This is your very own @hibbanoor. I have learnt about the wallet, how to install wallet and many other things about wallet in this lecture. Here now i am going to write the homework for @sapwood.

(1) 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?

In centralized platform, this is somehow possible to retrive your losing password. You can recover the keys in any way because there is a third party who help you in recovering your keys. But in decentralized platform, losing password and keys once mean losing them forever. If you lose your keys, you cannot recover them in anyway. All the work and data which you had done in your account become waste. So it is very important to keep a secure backup of your keys. SO that if you lose your keys in any way, you will enable to get them back from backup file.

I always keep 2 to 3 backup of my keys. Firstly i have a USB. In that USB, i keep all my password. All the keys of different platforms are stored there. Each have separate folder so i can retrieve them easily if i lose them. Secondly, i encrypt my keys in my way. Like if key is "backup", so i would write the key as "213elE2116" and send the file to my another email address.

I don't believe at all storing keys online like in your google drive. I feel the online strage a bit risky. Because once someone get access to your online storage address, he might get access to all your keys and might misuse your accounts. Hacking is possible so keep backup offline is more securest way.

I have a diary, all my personal detail is written there. i keep that diary very privately in my room cupboard. I always write all my keys and password on that diary. In case of losing your password and have troubling getting the backup online, it would be easy to get them offline from that diary.

But more safe and secure way of all the time is memorizing the keys. keep backup of your keys in your mind. Then there won't be risk of losing or stealing them.

What are the different forms of Private Key(Examples/Screenshot)?

There are three type of private key. Let me explain all those one by one.

Mnemonics:

Mnemonic is a group of random words. While getting register yourself on Tron wallet, a page is appeared where round about 12 words are written. You are asked to take a backup of that file. Because next you will need them. So always try to write down the mnemonic on your secrete diary. So that you can access them whenever you want. This is the first private key which is given to user while registration process. You can use the mnemonics to change all other password later on whenever you want. You can even recover your account with help of the mnemonic. Let me show you how mnemonic look like.

Private key:

In mnemonic case, we have observed that only words are group together. But in private key, we have combination of alphabet and numeric digits. private key is a combo of small letters and numeric digits. The alphabet and numeric digits are written in a special format and you can use this private key to access the wallet or account. Let me show you how private key look like.

Key store file :

It is most rare private key. Unlike mnemonics and private key, this key consist of letters, digits, comas, brackets, and many other signs. It is quite hard to write this form of key on paper because there are much little signs and even if you miss a single one, the whole your written become waste. So mostly it is preferred to store online. You can take screen short and store it to the place which you think most secure. I usually store the Screen short in my Password USB(where all the passwords are stored).

Download & Install TronLink Wallet(Android/iOS/Extension)?

I will show you how to Download & Install TronLink Wallet step by step.

1- Go to playstore and search for Tronwallet.

2- Once download get completed, now you can install the tron wallet. When you open the Tron app first, three options will be appeared at bottom of page. Fist one is Create account(when you don't have account on tron wallet) Second is Import account(if you already have account, you can import by using the keys you have) and third option is Cold wallet( offline). You can choose any of them according to situation. I will chose Create account.

Click on Accept button

3- Set user name and password. The password must consiste of 1 uppercase, 1 lower case, 1 digit and at least 8 charecter.

4- Just by following the above steps, your account will be created.

How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?

I was given a file of mnemonics. So let me show you how i have secured them.

I have given the mnemonic consist of 12 letters while registration process. As it is not possible to take the screen short because of privacy issues so i took picture of that page from another mobile and save that picture in my USB. Now i will retrieve the mnemonic whenever i want from that USB. I write it on my diary too. So that i can get it offline too.

Which form of the key are you comfortable with to handle your TronLink Wallet

In case of choosing one from above mentioned private keys, it would be surely mnemonics. The mnemonic are just alphabetic letters. Yo can memorized these easily and write them mostly without any error because it is simple. But if we talk about the private and key store keys, both these are not only consist of letters. These are mixture. Private key is mixture of alphabetic letters and digits. While key store key is combination of letters, digits, comas, brackets and many other signs which are very hard and tough to memorize. So i will prefer the Mnemonic form of private key.

Conclusion

In this lecture, i have learnt about the private keys. There are three forms of private key. It is quite important to keep a very safe and secure backup of all keys as once you lost them, there is no way to get them back in decentralized platform. So always keep backup of your private keys and all other keys. Next i learnt how to create account on Tron wallet. It was so simple and easy. Thank you so much @sapwood for delivering such informative lecture.