Bitcoin Forum

Hi,

I have wallet at "dogechain.info". I have invested some bucks in Dogecoins and I want to hold that until 2016/18 or even 2020.

How can I keep those coin safe, I have downloaded

Paper Wallet + Encrypted Backup (Exported) + Un-Encrypted Backup (Exported)

So if I want to access my wallet in 2016 or 2020 and if "dogechain.info" site will not be there, then will I lose my all doges? or can I recover those using above downloaded data?

Thanks

It's easy man. DOwnload the official wallet, store all of your doge there, save the wallet.dat file inside a USB that ALWAYS stays at home, buy an external HD that NEVER gets connected to an online computer. Put these in your closet and don't use them again. I would tell you to encrypt the wallet files but if you don't move the wallet.dat files from your closet, i don't see how it's needed and you could forget the password. I have learned my password like my name so it's up to you.

Creating a paper wallet or an offline wallet is a good idea.
BTW, I believe the altcoin subforum is a more appropriate location for this thread. :)

How trustworthy is that site? I'd take all your coins off there and send them to a desktop wallet. Then back that wallet up several times and keep them on usbs and cdrs etc. There, that's as safe as you'll get them and you don't have to worry about anything happening to that site.

Don't trust sites to hold your coins , as others suggested better to keep them on an offline wallet.

The best way to keep your coins safe is not to trust anyone with them (e.g. web wallets). Web wallets are a big red target for hackers, and sometimes they're just scams. Paper wallet, sure, it'll be there unless you lose it. Send your coins to the address on a paper wallet that you have the private key to, and they'll stay there long after 2020 unless someone uses that private key to spend them.

Thanks, Xmasdobo, Testing123,  Rampton, Cboy, Willisius // another thing that I want to ask..


I am going to use offline wallet & going to backupt wallet.dat file

So If I am making a zip file with password and keeping that file on my Google drive, Desktop, Pendrive, External  hard drive. (of-course I will remember password for that zip file)

Is there ID password for wallet login also or not?


How to access those coins ??

Will there be a version of Dogecoin in 2020 that will accept your wallet? No serious hard forks,  no "rebooting", no "community takeover"?

Yes. Your wallet should be password protected with the pass you use for the site. It works like that one blockchain.info at least. Having a password on a zip would be doubly protecting them. Make sure you don't forget one of your passwords otherwise you'll be screwed.

Better make sure that pass is strong, like very very strong, if you're keeping it on Google drive. Take into consideration the power of computers in 6 years when considering the strength of your password.

A paper wallet will have an address and a private key printed on it. If you used a popular service instead of just printing out private keys, it will have QR codes. You can scan the private key's QR code on a smartphone or some such, and with that private key you can send the coins to any other address.

See, addresses are just a convenient way to represent keys. But I'm guessing you don't want to get into the technicals, so here's an easier explanation: Every address has 1 corresponding private key. Anyone can send coins to an address. Whoever has the private key can send the coins that the address has received. Wallet software usually takes care of storing private keys. For paper wallets, the private key is printed out to be used when you want to spend the coins.

As for passwords, this is very important: encrypt your wallet with a passphrase. In the "standard" wallet software, you can click 'Settings > Encrypt wallet' in the menu bar. What's important here is that you backup the wallet.dat after encrypting the wallet. If you've already backed it up before encrypting, destroy those backups, they are not nearly as secure as the encrypted wallet.

So Paper wallet is useless, if site "dogechain.info" will not be there in 2020.. but If I am not wrong, I interpret your (all replies) messages as I can keep my doges secure if properly preserved.

So here is what I should do right now to keep my doges secure till 2020 (Writing in tutorial style, please confirm authenticity)


1) Download official wallet, Install it and let it synchronize with network (synchronization is automatic)

2) Encrypt Wallet by going in Setting - Encrypt Wallet

3) Setting Paraphrase by clicking on Setting

4) Coping that Paraphrase in Notepad file.

5) Click on Much Receive and after that request payment, So that I can see wallet address to  send my Doges from website wallet to Desktop Wallet.. Copy that Address..

6) Send All Doges (depend's on requirement) from Website wallet to Desktop Wallet (Desktop Wallet Address copied in previous step)

7) After 2 hours (just for security) of receiving payment successfully.. backup wallet by clicking on File - Backup Wallet

8 ) Keeping the following files in Password protected .Zip file.. A strong password like $T5#1^&f(0Ad must be saved somewhere ultra secured place..

• Wallet Backup (Step 4)
• Notepad File (Step 7)

9) Keep that .Zip file (Password at another place - not with .zip file obviously). Such as Pendrive, Google Dive, Desktop, CD/DVD, etc..

I think storing that zip file at least on 5 different secured sources (Cloud, Pendrive etc) will keep it secure. and yes, Password  also must be preserved as it's the key for this huge process..

10) Delete Dogecoin wallet. As I have bought those coins for the purpose of long term investment. (By 10 times checking each and every above mention step followed perfectly)


Is that fine? to keep my dogecoin investment secured until 2020?

No, the paper wallet is useless only if either DOGE or paper become useless.
It doesn't require any particular website, the keys can be put in any wallet that supports key imports, and it would be a bit silly to have a wallet that doesn't.

I'd say the simplest way would be to back up your encrypted wallet.dat file to 2-3 usb sticks and and store them in different safe locations. Of course keep your passphrase somewhere else. Keep the passphrase in only one place, don't save it to different locations. If you're wanna leave your coins untouched for like 10 years or more, I would advise against saving your wallet.dat file to any online storage no matter how secure they are. 10 years is a long time, what is impossible for hackers to achieve now might suddenly become possible without warning. Once backed up to your pendrives, don't forget to delete the qt and dogecoin appdata folder from your pc.

Call me cynical, but is long term hodling of DOGE such a good idea, given its inflation ?

And, btw, password security debate full of good information:
https://nxtforum.org/general-discussion/price-speculation/msg109260/#msg109260

Make sure that you use secure passwords for any long term wallet storage:
No well-known phrases (ie nothing that has ever been published anywhere, be it the Bible or Vampire Weekend lyrics)
12 character MINIMUM. More is better, over 40 is probably unnecessary.
Random selection of letters, (upper+lower case), numbers and symbols OR a sequence of 12 random words.

Is dogecoin even going to be around in 6 years?

They will be dead in less than 2 years like me, sorry.

Why you think so ? Today market's cup is $ 36,409,245 so this is huge money. This couldn't just disappear.

i've stored wallet.dat files on USB drives but it's still possible that random corruption could happen.
my favorite option for ease of use etc..

but i seen a show on TV the other day where Computers and even USB drives were wiped out and corrupted bad
by magnetic anomalies attacking this town in Italy not all that long ago..

It started by around 50 random fires reported and there was only about 33 residences in the town.
To test they had the power grid cut off totally.
Fires kept popping up though.. then they noticed other stuff too like car alarms going off or car door locks moving etc
They had a govt task force setup monitoring and they found short bursts of magnetic power a fraction of a second long happening.
The govt official mentioned specifically USB drives were getting wrecked too !
The officials working the case said the were starting to suspect the source was coming in from the ocean's direction beside this beach side town.
Then they were suddenly called off the case by the gov and ordered to leave before finishing their investigation for some odd reason.
Nobody ever did figure out what was going on and eventually the fires stopped happening on their own.. for now LOL
They even had the Pope pray for them over the matter (which didn't help)

I seen this on TV.. The Unexplained Files - S01E03 - Freaky Fires & Ghost Yacht
http://www.sciencechannel.com/tv-shows/the-unexplained-files/the-unexplained-files-videos/freaky-fires.htm

USB drives are not a reliable means of storing squat.  :o

I can't imagine Doge is surviving the next years.

The last increasing value reminds me of a dying tiger.

At the end it is the deadliest.

So, maybe we see here the last big bubble before it comes to end.


Nobody knows finally what time will bring.

if Cryptos go popular, DOGE could become very very popular among kids and teens so I wouldn't call a game over yet, who knows.

dogecoin will not die it will increase dogecoin to the moon!

The outlook of dogecoin is completely irrelevant, this is about wallet security.

@Dudeperfect:

A paper wallet will work with the "official wallet" - it will work with unofficial wallets like MultiDoge too. If you wanted to spend the coins in your paper wallet, you would go to Help > Debug Window, click the Console tab, and put in The private key starts with '6' or 'Q' for dogecoin.


There are a few points to make:

Step 3 - The passphrase is set during Step 2, there's no way to see it after encrypting the wallet. So have the passphrase written down before encrypting the wallet with it.

Step 7 - You don't have to wait until receiving the coins to backup your wallet. You can, but it's not necessary. You can backup your wallet right after encrypting it, the first 100 addresses you generate are already in the wallet. Likewise, you don't have to wait until you've received the coins. But if it gives you peace of mind, by all means feel free to.

So, your options are to send all your coins to a paper wallet, and you can import the paper wallet's private key later at any time with any wallet program, or, follow the tutorial you wrote.
For security reasons, I don't recommend storing the wallet in 5 different online places, but it's your preference. The most important advice I can give here is that if you choose to use the wallet program, make a strong passphrase for Step 2. None of that "monkey23" or "doorhinge11" business. ;)

Sorry for the late reply.

Thanks again dude, much helpful.


So I can use paper wallet (which I downloaded from Dogechain.info) in 2016 & after.. without doing anything (just downloaded paper wallet is enough).. no matter my wallet provider "Dogechain.info" will be there or not.. I can spend amount through paper wallet.

or

I can import doges to any wallet with private key mentioned in paper wallet..

or

I can backup doges (wallet.dat) and restore that after in 2016 & after..


Am I right?

Yes, that is exactly the case Dudeperfect. When you have the private key to any address, you can spend funds that it has at any time with any wallet. Good luck with your thing.

Thats right professional exchange sites even recommend that they are not a holder just a trading network.