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Author Topic: Do you own your private keys with Desktop Wallets?  (Read 1795 times)
muhammedayo1
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June 25, 2018, 12:08:09 PM
 #21

Some desktop wallet have a way you can get your private key, check for instructions and do that because it's the safest way.

Thus, every desktop wallet have a backup,  all you need to do is to backup the " .dat  " file and you'll be good.

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June 25, 2018, 12:10:19 PM
 #22

yes it is, whenever you backup your desktop wallet. Your private key will be included along with that wallet.dat file. Always ensure you know the passphrase of the wallet.dat because if you forget the passphrase, you will have no access to the coins and nobody will be able to help you in recovering them.

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June 25, 2018, 12:31:58 PM
 #23

every wallet has their own security code, in blockchain.info we can see that identifier and the password very important, but we can see in another wallet private key is very important because if we forgot the private key its mean that we can' access our wallet forever. so it's depends on you what will you use for that

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July 15, 2018, 02:02:23 AM
 #24

Yes, you do own the private keys which is a key difference between Desktop Wallets because if you own your private keys your coins not called yours, you always remember your wallet keys because if you forget your wallets you don't get your accounts you will have no access to the coins and nobody will be able to help you in recovering them.

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July 15, 2018, 02:11:41 AM
 #25

I have several of these encrypted wallets, mist wallets and electrum wallets, both of which have corresponding private keys, although they are not very secure, but they are very convenient.

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July 15, 2018, 02:14:35 AM
 #26

If you downloaded a desktop wallet or offline make it sure that have a private keys or security because if you don't have that don't store your coin because i make sure that they also get your coins and that is not your already so that find a keys to protect your coins. I suggest try also ah hardware wallet just look like flashdrive because my friend have this to secure his coins from the hackers.

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July 15, 2018, 04:15:44 AM
 #27

From what I have heard Desktop Wallets are supposed to be good because "you are in control of your own keys". But I have never seen a private key when I have downloaded a desktop wallet. Sometimes you get to make a seed, which I think is the same thing (?) , but often you only get to backup a file. Is that file your private key then?

Thats it,all you have to do is save this to be your back up file key..but better to make it in writings too as what some of my friends do(but im not since theres other people living in my house and this is open for others thats why kinda hard to trust in physical saving)but if youre living in private place then his is applicable for you then

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July 15, 2018, 08:18:21 AM
 #28

From what I have heard Desktop Wallets are supposed to be good because "you are in control of your own keys". But I have never seen a private key when I have downloaded a desktop wallet. Sometimes you get to make a seed, which I think is the same thing (?) , but often you only get to backup a file. Is that file your private key then?


Nowadays having bitcoin desktop wallet is not preferable because you need to download the blockchain database since 2009.
But desktop wallet is the safest wallet i think, because you have your wallet only in your own control.

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July 17, 2018, 12:36:54 PM
 #29

If you do not solely control the private key you do not own the bitcoin. This has been an adage in Bitcoin since the beginning. Unfortunately, in the case of online wallets, services, exchanges, or any other service, you do not solely control the private key and you can’t protect it in any way. In order for the service to work they need to be able to move the bitcoin around. You deposit it to them and they control it on your behalf. If you are concerned about security move your bitcoin to a wallet you control, either desktop, mobile, hardware, or paper.
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July 17, 2018, 12:41:27 PM
 #30

Aehm… of course you do!

You should immediately back up your private key in a couple of places at least.
Only back it up into your email account in an encrypted file with a good password, just in case that email service gets hacked, or somebody accesses your email on your computer.
Same goes if you use some cloud mining service like Dropbox.
You can also save it on a USB memory stick and put it somewhere safe, like a bank.

Oh and don’t forget that password Wink
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