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RE: Crypto Academy Week 2 Homework Post for @sapwood|Blockchain Wallet- Chapter-2
Thank you for submitting homework task-2 in Crypto-Academy.
Besides using your private key you can also restore your wallet with the help of the mnemonic and keystore keys.
That's correct. But do note that restoring a wallet using the Keystore file requires the password (set by you in the previous installation) whereas restoring a wallet using a private key/mnemonic does not require a password.
Keystore file+Password(set by you)~Private Key
The password set by you in a particular installation, in a particular device protects that wallet locally whereas a private key ensures universal/absolute control of the wallet. So always keep your private key safe & secure, preferably keep them offline.
Thank you.
Thanks dear for your kind response towards me and telling me about careful use of the private key as first time i lost my private key of my tron wallet so i lost my almost 226 TRX but now i have secured my private safe and sound.
Thanks! Sir @sapwood