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Author Topic: Electrum backup  (Read 224 times)
yarnyy (OP)
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December 12, 2017, 02:35:33 PM
 #1

Should I backup the wallet file everytime I make a new transaction?
TheQuin
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December 12, 2017, 02:37:18 PM
 #2

There is no need to do that. You just need to make sure you have safely stored the seed phrase so you can use it to recover.

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bob123
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December 12, 2017, 03:16:01 PM
 #3

This was necessary in times where wallets pregenerated a fix amount of addresses. At this time you had to back your wallet.dat up every time a bunch of new addresses have been generated.
Most of the wallets now (including electrum) are using Hierarchical Deterministic (HD) wallets (https://en.bitcoin.it/wiki/Deterministic_wallet).
This means your 12 word seed (which you were prompted to write down at the initialisation of your wallet) is used to create private-/public- keypairs.
You can think of it as a mathematical equation: newAddress = mathFunctionOn(seed) + counter.
So backing up your 12 word seed phrase once is enough to be able to restore your coins into any BIP39 compatible wallet.

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