Topic: What happens if you don't back up your Ethereum Wallet (Read 284 times)
Well i think is the best idea to store your private key on a notebook and also your email.
Keep private key to paper this effectively best 
I always recommend MEW. Keys are generated and should be stored offline. Another item you can use to assist is metamask.io
If you don't backup your Ethereum wallet and if your phone or laptop will be stolen or something bad happen your token will be lost .
Only one event will happen, losing all the coins stored in the wallet! I usually use a laptop or other means to record my private key separately, and copy my wallet separately with a laptop!
I have an iphone and used to have a trust wallet - so far so good
One day my iphone decided to crash so I had to reset the phone, now me being not that clever had backed up my wallet as you should do but saved it locally to my phone, ok so now there's a problem, I had signed up to a few ICO's etc and added some of my own money to the wallet, but because I hadn't backed the wallet up to itunes the whole data was lost, I lost overnight 8 months of work.
Hi! One day my iphone decided to crash so I had to reset the phone, now me being not that clever had backed up my wallet as you should do but saved it locally to my phone, ok so now there's a problem, I had signed up to a few ICO's etc and added some of my own money to the wallet, but because I hadn't backed the wallet up to itunes the whole data was lost, I lost overnight 8 months of work.
I also use different wallets on my iPhone - Jaxx, Trust, Loaf, O3 just to name few. I wasn't even aware that I should back them up anywhere.
The most important thing are the private keys, as many stated.
Never take a screenshot, don't upload them to your cloud storage.
Just plain and simple, write them on a piece of paper.
Have few little notebooks with all of your emails, codes, passphrases, and have them stored in different places.
Also, really important - notify one person about one of them, in case of your death. A bit morbid but really important.
So guys what is the best option to store your ethereums if you don't have a hardware wallet? I'm very concerned about the security of my crypto...
MyEtherWallet with the new secure login mobile app[1] it's probably the next best option.[1] https://techcrunch.com/2018/07/25/myetherwallets-secure-log-in-app-is-now-available-in-beta-for-ios/
So guys what is the best option to store your ethereums if you don't have a hardware wallet? I'm very concerned about the security of my crypto...
Call me old-fashioned, I still love paper materials. So what I do is to write out my private keys for wallets I'm using and keep it somewhere. I even do this for my Authy app in case anything happens to my mobile device. As for emailing yourself the private key, it's also risky, cos once your email address is hacked you can as well kiss your crypto funds bye.
Now that I install any wallet program, the first thing I do after generating the address is to back up, which is very important.
And for qt wallets, I use -datadir="AppData" to store the data in the specified location.
And for qt wallets, I use -datadir="AppData" to store the data in the specified location.
Keep your private key safe
- Back up your wallet, related files, and encrypted passwords.
- Make sure your wallet software or software has been updated.
- Make sure your password and seeds or memo phrases are always available and written.
- Move your Bitcoin assets off the trading floor and put them in a wallet that you can control and follow steps 1-3.
- Back up your wallet, related files, and encrypted passwords.
- Make sure your wallet software or software has been updated.
- Make sure your password and seeds or memo phrases are always available and written.
- Move your Bitcoin assets off the trading floor and put them in a wallet that you can control and follow steps 1-3.
Don't trust wallet apps although you back up.
Desktop wallets and hardware wallets are the best if you just want to store it.
I wouldn't say that desktop wallets are best to use. Yes, it's better than web wallets and various apps. But there are risk involved - if you will get virus it's possible that it will steal your coins. It would be best to use desktop wallet on offline computer and connect it to internet only when you want to send BTC.Desktop wallets and hardware wallets are the best if you just want to store it.
I would agree about hardware wallets, I'm using Nano S myself and I'm happy with.
You also forget to mention paper wallets. It's best and safest wallet for long time storage.
No matter which type of wallet you are using, it's crucial thing to save back up phrase or private keys and keep it in safe place.
Well yeah, keep it somewhere that it can stored safely.
it's your basic mistake. Whenever create a wallet, write the private key or word phrase down on paper and keep safe the paper.
Don't trust wallet apps although you back up.
Desktop wallets and hardware wallets are the best if you just want to store it.
I wouldn't say that desktop wallets are best to use. Yes, it's better than web wallets and various apps. But there are risk involved - if you will get virus it's possible that it will steal your coins. It would be best to use desktop wallet on offline computer and connect it to internet only when you want to send BTC.Desktop wallets and hardware wallets are the best if you just want to store it.
I would agree about hardware wallets, I'm using Nano S myself and I'm happy with.
You also forget to mention paper wallets. It's best and safest wallet for long time storage.
No matter which type of wallet you are using, it's crucial thing to save back up phrase or private keys and keep it in safe place.
If you don't back up your Ethereum wallet, you will lose all coins/tokens should anything happen to your wallet and you need to reinstall. Backing up your ethereum wallet is very important.
Don't trust wallet apps although you back up.Desktop wallets and hardware wallets are the best if you just want to store it.
Thank you for sharing, no matter what role we play in the cryptocurrency market, digital wallets are very important items for us, please be cautious for beginners!
Never store coins in a wallet on your phone. Never. I recommend everyone to buy a ledger nano s (or similiar hardware wallets) and store the coins on your ledger.
If you don't back up your Ethereum wallet, you will lose all coins/tokens should anything happen to your wallet and you need to reinstall. Backing up your ethereum wallet is very important.
Not backing up the any wallet is not a choice, you would lose your coins at some point. You should backup it and also use different ways for that to ensure you will not lose the control.
Just keep a copy of the private key offline. You don't need to back up the wallet itself if you have the private key. Of course if you lose this backup you lose access to your funds. Its that simple.
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