Service

How to backup your bitcoin wallet

It is necessary that, after you buy bitcoin cash, you keep it safe in a bitcoin wallet. You have to ensure that the wallet is safe so that you are assured of your funds being out of danger. The following are some of the ways that you can backup bitcoin wallet.

Backup the whole wallet
There are some wallets that use several hidden keys that are kept internally. If your backup comprises only of the private keys to utilize for your bitcoin addresses that are visible, it might be hard for you to recover most of your funds by using a backup.
Online backup that are encrypted
A backup that is stored online tends to be vulnerable when it comes to theft. Even using a computer that is connected to an internet makes it vulnerable to software that are malicious. That means that, having to encryption backup which tends to be exposed to any network is a good idea and one of the best security practices.
Utilizing a variety of locations
Using single points for backup is a bad idea when it comes to security of your bitcoin wallet. If you have a backup that doesn’t depend on a single location, then it is less likely that a bad even happening will prevent you from getting access to your funds on the wallet. You can as well utilize different medias including papers, USB keys, as well as CDs.
Making backups regularly
You have to back up your wallet regularly to ensure that any changes that you make to the bitcoin addresses as well as the new addresses for bitcoins are created and included in the backups. The applications that you are using on the wallets will utilize the latest information that you backed up and thus, it needs to be up to date through regular backups.