Hello Everyone, Can anybody please clarify and answer this very important question?
First, I'm a Newbie to Crypto and also not the most technical savvy person regarding computers and File Types, so forgive me if this question has already been asked or if this is not the appropriate forum to ask it in. I have been researching this for days and I'm still confused about Backing Up my Wallets correctly and the File Type. Wallet Data ( * . dat )
Since this is such an important issue, I would appreciate any help with this to clarify I am doing this correctly or incorrectly.
This may be quite wordy but I want to be sure I ask my question correctly with exact details, so my apologies in advance.
I understand the importance of backing up your wallets and how mandatory this is in the event you need to recover one. However I have read conflicting information online in forums as well as watching tutorial videos on Crypto Wallets, specifically regarding the File Name and File Type which is the Wallet Data ( * . dat )
I have read that if the File is not saved correctly you will not be able to retrieve your wallet. This is where the confusion starts for me. I'm unclear if this has to do with the "File Name" or the "File Type" Wallet Data (*dat) or perhaps it's because am I'm such a Newbie and still learning that the answer to this question is simple and that may be why I cannot find a detailed explanation to this question. Pleas remember, I'm not a tech person.
OK, here we go... I downloaded the Bitcoin Core wallet to my desktop, all went fine, I understood everything so far, I wanted to make a back up copy on a USB Flash Drive. When saving this to the USB Flash Drive I am presented with this Exact Option: File Name:_________, (to be filled in by me) then directly underneath that: Save as type: Wallet Data (*. dat ) . The "TYPE" of file is already there by default and reads "Wallet Data (*.dat ) ".
I have seen a video tutorial online where they instructed to NAME the file "Wallet" and if it was not named "Wallet", you would not be able to retrieve the file if you needed to. During this tutorial, it showed the exact details that I mentioned above and for the File "Name" the instructor of the tutorial NAMED the File "Wallet" , and the computer screen in the Tutorial was exactly as mine, showing that beneath the File "Name", the File "Type" was automatically filled in with the Wallet Data (* . dat ) Matching exactly as my computer screen looks. So, I followed the tutorial and NAMED the File "Wallet" and saved it to my USB Flash Drive. I thought OK, mission accomplished, that wasn't too confusing, I thought I did it successfully. This is my first Wallet and my first back up.
After that, I purchased some ERC 20 Tokens from an Exchange. I research the options of Wallets to store them in, and see that My Ether Wallet or MEW is a popular choice. So, once again, I download the wallet, installed it on my Desktop and then go to make a Back Up of the Wallet onto my USB Flash Drive. The same Flash Drive that I used previously to Back Up the Bitcoin Core Wallet. When saving the MEW to the flash drive I am once again presented with the same screen as mentioned above, and the same screen that I saw in the online tutorial. The File "NAME" is blank and needs to be filled in and the File "TYPE" is automatically populated and reads exactly as mentioned above: Save as type: Wallet Data ( * . dat ) .
I completed the same exact steps as the tutorial suggested and I NAME the File again "Wallet", as demonstrated in the tutorial, however this Back Up File is for my new MEW Wallet or My Ether Wallet. So, I have Backed Up, two separate Files on the same USB Drive, One for the Bitcoin Core Wallet and another for My Ether Wallet, both are the same File Type which is the Wallet Data ( * . dat ) . I think to myself, OK, mission accomplished again, I did it successfully and I NAMED the File "Wallet" because that was suggested in the Tutorial and to my understanding if the File is NOT NAMED "WALLET", I will not be able to recover it when needed because the File "NAME" has to be called "WALLET" and if the File is NAMED anything other than "WALLET", you will not be able to recover the wallet from any of the Back Up Methods. This is how I have interpreted and understood the video tutorial.
So now I have two (2) files saved onto the USB Drive, both are saved with the name "Wallet" and both are saved as the type: Save as type: Wallet Data (* . dat ) . I think to myself, OK, I'm really getting the hang of this now, both of my wallets are backed up successfully onto the USB Flash Drive and in addition I have saved them to an External Drive as well, adding an additional Back Up Method. The Learning Continues.
Then I go Back to an Exchange and purchase a Cryptocurrency called Verge or XVG that has been in the news recently. I make my purchase, then want to move the Verge off of the Exchange into a wallet. I come to learn that XVG is not compatible with the Bitcoin Core Wallet and it is also not compatible with My Ether Wallet. I research the possibilities of how to store my Verge. There are a few options but it requires installing a new Wallet. Electrum is a choice, or I can install a Verge Wallet directly from their website. I choose the Verge Wallet and download it.
Once again, I repeat the steps. Download the Wallet to Desktop, Save, Make a Back Up onto the USB and External Drive. Again, I am presented again with that same option mentioned above when saving this New Verge Wallet, I have option to Name the File Name: _____________ (to be filled in by me), and the File Type is once again automatically populated as "Save as Type: Wallet Data (* . dat ) ". I go ahead and NAME the File "Wallet" and save it as the default Wallet Data TYPE.
Now, I have a total of 3 Wallets installed on my Desktop PC, and backed up on both the External Drive and the same USB Flash Drive; The first one which is the "Bitcoin Core" Wallet, then a second wallet which is "My Ether Wallet", and now I have a third wallet, the "Verge Currency" Wallet.
All Three Wallets have been backed up as the same File TYPE; "Save as type: Wallet Data ( * . dat )" , but all 3 Wallets are ALL NAMED the same thing. "Wallet". I followed the instructions of the video tutorial.
After doing this 3 Times, it finally occurred to me that all of my Backed Up Wallets are NAMED the same thing "WALLET". There is no way for me to differentiate one wallet from another because they all have the same name. "Wallet"
The Major Question: Did I misunderstand the tutorials and forums? Are you able to Create the "FILE NAME" and name it whatever you want as long as the FILE TYPE Remains a Wallet Data ( * .dat ) File ?
This would make logical sense to me, so I could create a back up for each of my wallets saving them ALL as the same FILE TYPE: Wallet Data ( * . dat ) but naming them appropriately so I know which back up File Name applies to the correct wallet ?
So, instead of having 3 Back Ups all named WALLET, in the same File TYPE of Wallet Data ( * .dat )
Can I just Back Them Up Again, keeping the File Type the Same but changing their name from "Wallet" to:
1. My Bitcoin Wallet
2. My Ether Wallet
3. My Verge Wallet
While saving all the above as the same of File Type: Wallet Data ( * . dat )
This way I would know which back up applies to which wallet ?
Is it possible for me to just RENAME the files and still be able to recover my wallets via my backup methods?
I'm currently using only one Flash Drive to back up all 3 Wallets, is this OK to do? or should I have a separate Flash Drive for each specific wallet?
Before writing this, I did re-watch this tutorial again, and it does in fact say the FILE NAME must be '"Wallet" or you will not be able to retrieve it. If this is the case, maybe they need to fix that in the tutorial, or perhaps the instructor just used the words FILE, NAME, and TYPE by error. The more research I did into this, the more I could not find a direct answer specifically about using File Names with Wallet Data Types.
It's also my understand that the file TYPE cannot be changed from a Wallet Data (* . dat ) or you will not be able to recover your wallet. Do I understand this correctly?
Prior to posting this, I tried to find help in a Telegram Wallet Group, people were direct messaging me, asking me to upload my wallet data . dat files so that they could help me. I knew enough to not do that.
If anyone experienced with Crypto Wallets and Back Ups could please answer this question, I would be so appreciative of your feedback. If I have missed something or you have a suggestion on something I did not touch on, please feel free to respond. Any info is welcomed.
With so many new people getting into Crypto, hopefully this post will not only help me, but others might benefit from it in the future.
My apologies for this wordy read and lengthy post, writing novels is normally not my thing. I felt it necessary to invest the time and write every detail so that my question is understood and hopefully answered. I thought the importance of understanding how to properly and successfully back up your wallet was well worth the time to write this post.
Thank You for reading my first novel.
