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Title: Wallet Backups Post by: coinmyne on December 17, 2017, 10:05:30 PM In order to be fully protected from losing Bitcoin, do I need to back up my wallet every time a new address is generated?
Title: Re: Wallet Backups Post by: hopeAo on December 18, 2017, 09:05:03 AM In order to be fully protected from losing Bitcoin, do I need to back up my wallet every time a new address is generated? If you are using a deterministic wallet which makes use of armory client, when you generate new accounts inside a wallet you will only have to make a back-up once. The backup key gives armory the possibility to create an indefinite series of addresses for your wallet. By default, Armory only generates 100 addresses, which implies that when you use more than 100 addresses and you lose your wallet, after you restore the back-up, the client will at first only see the first 100 addresses. You will have to specifically tell Armory to look for more addresses. If you import private keys to a wallet, you will have to back-up them separately! The easy back-up process only works for addresses generated by Armory. Title: Re: Wallet Backups Post by: ranochigo on December 18, 2017, 10:05:03 AM -snip- Why are you talking about Armory? OP didn't say anything about it.For HD wallets, the seed is usually all that you need to back up. The seed will generate each and every of the addresses that you could use within that specific wallet. This applies for wallets such as Electrum. For Bitcoin Core with hierarchical deterministic enabled, they don't utilise the mnemoric and hence, you have to back up the wallet.dat at the start. If you're using Bitcoin Core without it, you will have to backup every 1000 transactions, if you are using the latest version. * * You do have to backups Bitcoin Core every single time the wallet gets : encrypted, or the password gets changed. |