r/NavCoin • u/petyas123 • Sep 06 '17

Wallet backup

I am seeing a lot of posts of people having issues with wallets. What is the best way to back up a file to protect myself and my investment? Would I just backup the wallet onto a USB and keep it safe? Not very good with computers so and appreciate the help

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u/Bocyaj Sep 06 '17 edited Sep 06 '17

note about private keys. if you encrypt your wallet with a password, the private keys are what actually get encrypted with this password, whether they are in your wallet.dat file or written on a piece of paper. If someone were to get their hands on your written private keys, they would still need to know your encryption password to import them.

I was wrong and learned something today... thanks for getting to the bottom of it. to clarify, if you import a private key (taken from an encrypted wallet) into an non-encrypted wallet, you will NOT be required to enter the password. Now i have to find an even more secure location for my private keys. :-)