Crypto Academy Season 4 Beginner's Course Task 9: Blockchain wallet--Types,Uses, Installation, etc

How do you store/secure your keys? What are the different forms of private key(examples/screenshot)? Download and install TronLink Wallet (Android/iOS/Extension)? How do you store the keys(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 and hide/blur sensitive information

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How I Store/Secure My Keys

Our keys plays the role that a pin or password plays in the centralised financial institutions like bank. It is used to help us initiate transactions and not only to carryout transaction it also helps to secure our account. If our bank pin or password is to be revealed fraudsters could take advantage of this and scam us of our money. In the same way in a blockchain wallet which makes use of a set of keys, our keys are like our pin which enables us to carry out transactions and enable us have access to our account if we are to lose our keys or it falls into wrong hands because of our carelessness then it will leave our crypto asset in serious jeopardy that is why it's of the utmost importance that will take care not to reveal our keys and to keep it safe.

Now knowing and understanding the role this keys plays to the security of our crypto asset it would be wise to make sure we properly store it to avoid unnecessary stories. We should make sure out keys are properly stored or secured so as not to allow hackers or someone else with wrong intension whatsoever to gain access to our wallet because this kinds of thing never end well. To store my own keys i do write it down in a small note like a journal or we could say a notepad as the case maybe because it is always good to have a backup of our keys offline which is often free from hackers. So writing my keys on a notepad and keeping it safe is one way i ensure that my key is made secure and safe since only i can have access to it and more so it is not stored online hence free from attacks from vicious hackers who likes to reap where they do not show.

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What Are The Different forms Of Private Keys(Examples & Screenshot)

Private keys:

These are a random bunch of alphanumeric character which is usually generated during the process of opening our blockchain wallet. This set of keys is created at random using cryptographic functions.

Example of a blockchain wallet private key 👇

8f707f738f18d5e19a7990c65fba9a9569cd8b9b20917eaaa4b8e898806ac1bb

This private key plays a vital role as it authorises access to our blockchain wallet which means anyone who has access to it can spend our assets too as such i believe it should be secured away.

Mnemonic key:

This key is formulated from the bitcoin improvement proposal 39 (Bip-39), it is this proposal that actually sets the said standard for Mnemonic key. The mnemonic key is usually a set of english words or codes arranged in format which is usually between 12 to 24 characters whatever be the case.

Format of a mnemonic key 👇

11111011 00010101 11111100 00011110 01000100 00011011 10110100 00110001 01000000 01111010 01010111 11101011 10000111 11111010 00011111 11011110
Source

This mnemonic key is very important to the blockchain wallet as it can be used to easily restore a wallet or reset password or even used to generate a new wallet address. We can use this key in recovering of our wallet keys and all the transaction there is, so this key is also very important and should be carefully backed up by us

Keystore File

Well a Keystore File goes hand in hand with the password we created when creating our block chain wallet and together with this password is considered a key which could also be used in restoring our wallet. Example of this Keystore File below👇

Downloading & Installing TronLink Pro

OfCourse to this i visited google play store since am making us of my android phone. Then i downloaded and launched the app.

Well i wasn't really trying to import my account if i had i would have clicked on import and using one of my keys restore my account. The thing is i was simply trying to open a new account so instead of clicking on import i clicked on create new account.

Then i was asked to create or set an account name which i did.

I was taken next to this area where i was asked to set a password and i created one

For obvious reasons i was asked to enter password again to confirm the previous one ofcourse.

Then i was next taken to this page where i had to back up my mnemonic key. Now to do that i had to write it down on a notepad.

Well i carefully wrote down the mnemonic key which was 12 characters. This i did by writing down the set of characters on a book.

After this i was asked to input the 10th and 6th character of the mnemonic key to confirm i had really back it up which i did then my account was created.

So this is simply how to download & set up TronLink Wallet while ensuring my mnemonic key was backed up by writing it down on a notepad.

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My Preferred key In Handling My Account

Well for handling my account i kind of feel more comfortable doing so with my private key which is a bunch of alphanumeric character created randomly by cryptographic functions for obvious reasons. To gain access to my account i could easily go to my storage place where i have stored this key and copy it easily to use and quickly access my account.

This key which allows us to gain access to our account and easily transact at will i confess is the key i used most often as most times what i do is just check my balances or run transaction and this key allows me to do that so i prefer this key. I mean the mnemonic key for example is needed only if maybe i lost my phone and want to restore my blockchain wallet account. So to me i choose or prefer the private key for handling of my blockchain wallet.

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Conclusion

The security of blockchain wallet is of great importance as everything in our society is turning digital and even finance is being revolutionize with the emergence of blockchain technology and cryptocurrency strong security is needed to make us feel secure as hackers are prevalent in the online platform constantly looking for opportunity to scam. That is why i believe we should take care to make sure our keys which is like our transaction pin and otp's should be secured as it is our sole responsibility and if one should gained unauthorized access to our account we have no one to blame but ourselves.