The whole process of installing a wallet and bootstrapping it has been made into 5 quick videos if you prefer to watch than read, or if something isn’t making sense-
Video 1- https://youtu.be/6p1uwjorEo0
Video 2- https://youtu.be/KSU3dGUgSLM
Video 3- https://youtu.be/yBsMLZBTrbk
Video 4- https://youtu.be/NIO0prPM0Gs
What is a wallet?
A wallet is where you store your Lindacoin. When you buy through a site like cryptopia they automatically make a wallet for you. It’s not considered safe to leave your coins in an exchange, it’s best practice to take them off the exchange and into another wallet. There have been many incidents of exchanges getting hacked, so purchase and move! P.s cryptopia has never been hacked.
Where can I get a wallet?
I’m now recommending the latest wallet for all wallet installs
Don’t upgrade wallets without a couple of backups you are confident are stored safely.
Further details for setting up your wallet can be found under staking.
When you are installing your wallet, you may need to disable your antivirus. You may get a false positive from your antivirus due to the way the wallet receives stakes, which will prevent you installing your wallet.
A webwallet is being beta tested (mar18) and should be out shortly.
Backing up and Encrypting your wallet
Once your wallet has fully synced, it’s a good idea to back it up and encrypt it. Both of these are covered in the staking tutorial below, but even if you aren’t planning on staking the coin, you should backup and encrypt the wallet.
More on backing up the wallet
Coins are not held in your wallet, they are held on the blockchain online. Your wallet is really your key to transfer or transact with your coins. If your computer explodes your coins are still sitting in your wallet on the blockchain. It’s how you plan now that will allow you to access them or if they will forever be lost in the blockchain.
To restore a wallet, you need to have two things. The wallet.datbackup file that your wallet creates for you when you choose to do a backup in the menu, and your passphrase (I’m hoping we have all encrypted your wallets). If your current wallet is gone and you forget or lose either of these, you will never be able to access your coins again. On the flip side if you have a backup of your wallet.datfile and your passphrase you can never lose your coins due to a technical issue with your wallet.
On the wallet- select File > Backup wallet. The file created will be your wallet.dat file.
Think about where you keep your wallet.dat file and your passphrase. Don’t ever store them together as it’s all anyone needs to access your coins. Think about keeping your wallet.dat file on the cloud or on a USB at your mum’s house. Keep your passphrase in your phone with no reference to Lindacoin.
For bonus points- keep your wallet address somewhere written down (your wallet address is safe to share) so that you can search the blockchain if needed in the future.
Restoring a wallet
Ok so the worst thing happens and your computer with your Linda wallet catches fire…. Here’s the steps to bring your coins back to life.
Firstly, see viewing the blockchain below for instructions, put in your wallet address and feel confident that your coins are safe. Then:
- On your new machine- download the latest wallet version
- Bootstrap it if you like to speed up the sync (instructions above)
- Wait until it has fully synced
- Close the wallet
- Open your backed up file called wallet.dat
- Make a copy of your backed up file so you retain the original
- Open the files for your lindacoin (usually wallet C:\Users\YOURUSERNAME\AppData\Roaming\Linda)
- Replace the wallet.dat file in the new wallet with the copy of the backed up file
- Reopen your wallet
- Feel relief because even though I said not to panic- you did anyway….
you can also restore from private keys (not for beginners)
Here’s a video on how that works if you are comfortable with it