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Author Topic: Backup a core wallet in the right way  (Read 195 times)
N-rG
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November 25, 2017, 01:41:39 PM
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Hi,


i read a lot of how to backup a wallet. If the information is correct, a wallet has always 100 addresse. So if I make 3 transactions and saved the wallet.dat before and restore it, everything will be finde.

But what happens when I have 101 transactions after I backed up the wallet.dat?

Anyway, I want to prevent of using Electrum, I prefer to stay with the core wallet.

What is the easiest way to have steadily access to my wallet and be safe in case of a hard disk crash for example.

I read about a Master keys, private keys etc. The web is full of information but they are mostly different and tbh mostly I don't understand the differences between the presented solutions.

So a lot of talk for an simple question:

How to backup the wallet properly? What data I need of the wallet to recover it any time?


Thanks
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legend018
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November 25, 2017, 01:51:21 PM
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I think it can depend on what your using as a wallet, so definitely study up on the wallet in question.
This looks to be a good post to review: https://bitcointalk.org/index.php?topic=685563.0
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November 25, 2017, 01:57:48 PM
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But what happens when I have 101 transactions after I backed up the wallet.dat?
Bitcoin Core pre-generates 100 addresses for you to use as change address, new address etc. Everytime you unlock your wallet, your client refills the keypool. Lets say you back your wallet up at 0 transactions. If you use your wallet normally, you should have used up all your generated address at the point of backup as either the change address or a receive address. Hence, with your 101 transaction, Core may send the change to an address which might not be in your backup. Same goes for receiving Bitcoins.
What is the easiest way to have steadily access to my wallet and be safe in case of a hard disk crash for example.

How to backup the wallet properly? What data I need of the wallet to recover it any time?[/b]

If you have your Core as a HD wallet, ie having a HD symbol at the bottom left, you only have to back it up once. However, the seed does change with each password change. If you ever change your wallet password, you need a new back up.

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November 25, 2017, 02:16:36 PM
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Quote
If you have your Core as a HD wallet, ie having a HD symbol at the bottom left, you only have to back it up once. However, the seed does change with each password change. If you ever change your wallet password, you need a new back up.

I have that HD activated, yes. So you are 100% sure, that if I backup this wallet.dat only once that this will make it possible to recover the wallet "forever" yes? Nothing more todo. Just to be 101% sure:

1. Set password to wallet
2. See that HD symbol at the bottom right
3. Store Wallet.dat at place xyz

secured forever until only the password will be changed again?

Thanks again
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November 25, 2017, 02:19:07 PM
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If you have your Core as a HD wallet, ie having a HD symbol at the bottom left, you only have to back it up once. However, the seed does change with each password change. If you ever change your wallet password, you need a new back up.

I have that HD activated, yes. So you are 100% sure, that if I backup this wallet.dat only once that this will make it possible to recover the wallet "forever" yes? Nothing more todo. Just to be 101% sure:

1. Set password to wallet
2. See that HD symbol at the bottom right
3. Store Wallet.dat at place xyz

secured forever until only the password will be changed again?

Thanks again
Yes. It's pointless to use a HD wallet if you can't derive every address used by that wallet file.


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November 25, 2017, 09:52:21 PM
 #6

secured forever until only the password will be changed again?
Yes.
It's good practice to test your backups once in a while though. Apart from checking if the backup actually works, it also ensures your backup medium can still be read.

If the information is correct, a wallet has always 100 addresse.
For non-HD wallets, the default is increased to 1000 addresses (assuming you're using an updated version of Bitcoin Core). Last week I wrote some information about how it works.

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