Hi,
This is the first time for me that im using a nav wallet. Can someone please explain the following things to me:
- Unconfirmed coins: are those coins used for staking? And if yes when to the go over to "spendable" ?
- encrypted wallet: currently my wallet is not encrypted. this is not really needed right as i just use it on my own pc only.
in settings i set the transaction fee to 0.01, is that advisable or not really needed?
cheers
Robin
1) No, Unconfirmed are coins already sended to wallet not confirmet transaction by nethwork. They not staking. Maybe you need wait to finish synchro if you use new wallet.
2) make any pasword harder is better dont matter who used your comuper. When you "unlock" wallet coins start staking.
thanks for the explanation!
It sounds like you are pretty new to all this so I just wanted to stress to you the IMPORTANCE of both backing up all of your wallets AND encrypting them as well!! Encrypting them simply means setting a password on the wallet. I would also suggest you use a different random 15 character password for every wallet you setup. Make sure of course to keep your passwords in a safe place and not on your computer, unless you use a password manager like Last Pass or something. This is what I use for all my sensitive data, I have paid version which is really cheap but you can also use the free version.
Backing up your wallet - your wallet is a file called "wallet.dat" and is usually located in your c:/users/pcname/appdata/roaming/coinname folder. I keep 2 copies of this file on no less than 3 USB flash drives. Do not copy the file while the wallet is open, close wallet first and wait about 1 minute before you copy, else you could wind up with a corrupted wallet file for your backup!
It is crucial you do this to avoid learning the hard way why it is so important to encrypt and backup your wallets by losing your coins!! Just the other day a coin was released with an intended virus in the coin's wallet that stole people's various wallet.dat files from their PCs. Those that had their wallets encrypted lost nothing as the scammer could not access their coins, even though they had their wallets! This is why an unencrypted wallet is NOT safe on your PC. Make sure to keep your passwords safe, possibly 2 copies like I do now......I did lose some small amount of coins before due to lost password......this is the bad thing about having to password protect all your stuff, if you lose your password.......you lose your coins!!
Again many thanks! Indeed im new regarding wallets. I normally just leave the coins on bittrex.
I just setup the nav wallet and added a highly secure pass which i printed on paper and stored in my vault. Im now going to do the backup, thanks for pointing the importance for that!
edit: the wallet was in C:\Users\username\AppData\Roaming\SummerCoinV2 (so that is the correct one right?)
and i could also just created the backup while client was open through the integrated backup button, but i shouldnt do this as you said it might save a corrupted file?