What happens if you don't back up your Ethereum Wallet

[airdrop291]

Hi Forum members

How are you trust you're well, Ok let's begin

I have an iphone and used to have a trust wallet - so far so good

One day my iphone decided to crash so I had to reset the phone, now me being not that clever had backed up my wallet as you should do but saved it locally to my phone, ok so now there's a problem, I had signed up to a few ICO's etc and added some of my own money to the wallet, but because I hadn't backed the wallet up to itunes the whole data was lost, I lost overnight 8 months of work.

I am only writing this to make newbies in particular aware of the importance of storing your private key, json code or however you store your wallet, to keep it super safe, print a paper copy of your wallet address and private key and keep in a safe, not recommended but could be a last resort, open a google drive or like minded app, save it on a spare hard drive, email to yourself the wallet key and the private key.

I have lost everything so starting again, as upsetting as that is I have learned from the episode, so please please if you are reading this now and have not backed up your wallets please do so as it can all disappear in the blink of an eye.

I have now moved away from wallet apps, and only using my ether wallet on line and i've ensured that my json key is now in more than one place, the idea of this post is to remind people the importance of storing your personal data correctly.

Thanks for reading

Airdrop291

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[madnessteat]

You have violated the first and basic rule - to store keys to wallets in safe places and in multiple copies. It will be a great experience for you!

[CoinMarcel]

Use MEW with your Nano S. No pain at all.

[pwchan001]

Yes, it is so important to back up the private key and dat file and store them in a safe place before using the wallet. For coins with low value, I would choose to send the key and dat file to myself via email. For coins with high value, I would choose to save them in several usb devices!

[mk4]

Use MEW with your Nano S. No pain at all.

Try reading OP's post again. The problem here is not with the wallet. The problem is that OP didn't back up his/her wallet's private keys. Whatever wallet you use, if you didn't back up your private keys then you lose access to your wallet if ever you lose/break your device.

[Kgdktac]

The summary of what could happen when you don't back up your ethereum wallet is that you could lose your tokens if you forget your private key

[bedulook]

I consider my wallet of any coins as my bank account and keep it very safe hence I always print my wallet private keys with the address on a printout paper. Without backing your wallet, you are sure to lose your money.

[AverageGlabella]

Just keep a copy of the private key offline. You don't need to back up the wallet itself if you have the private key. Of course if you lose this backup you lose access to your funds. Its that simple.

[justin86]

Not backing up the any wallet is not a choice, you would lose your coins at some point. You should backup it and also use different ways for that to ensure you will not lose the control.

[Glyphotex]

If you don't back up your Ethereum wallet, you will lose all coins/tokens should anything happen to your wallet and you need to reinstall. Backing up your ethereum wallet is very important.

[Lakai01]

Never store coins in a wallet on your phone. Never. I recommend everyone to buy a ledger nano s (or similiar hardware wallets) and store the coins on your ledger.

[Vilianms]

Thank you for sharing, no matter what role we play in the cryptocurrency market, digital wallets are very important items for us, please be cautious for beginners!

[boyptc]

If you don't back up your Ethereum wallet, you will lose all coins/tokens should anything happen to your wallet and you need to reinstall. Backing up your ethereum wallet is very important.

Don't trust wallet apps although you back up.

Desktop wallets and hardware wallets are the best if you just want to store it.

[LTU_btc]

Don't trust wallet apps although you back up.
Desktop wallets and hardware wallets are the best if you just want to store it.

I wouldn't say that desktop wallets are best to use. Yes, it's better than web wallets and various apps. But there are risk involved - if you will get virus it's possible that it will steal your coins. It would be best to use desktop wallet on offline computer and connect it to internet only when you want to send BTC.
I would agree about hardware wallets, I'm using Nano S myself and I'm happy with.
You also forget to mention paper wallets. It's best and safest wallet for long time storage.
No matter which type of wallet you are using, it's crucial thing to save back up phrase or private keys and keep it in safe place.

[kiemnhieutien]

it's your basic mistake. Whenever create a wallet, write the private key or word phrase down on paper and keep safe the paper.

[boyptc]

Don't trust wallet apps although you back up.
Desktop wallets and hardware wallets are the best if you just want to store it.

I wouldn't say that desktop wallets are best to use. Yes, it's better than web wallets and various apps. But there are risk involved - if you will get virus it's possible that it will steal your coins. It would be best to use desktop wallet on offline computer and connect it to internet only when you want to send BTC.
I would agree about hardware wallets, I'm using Nano S myself and I'm happy with.
You also forget to mention paper wallets. It's best and safest wallet for long time storage.
No matter which type of wallet you are using, it's crucial thing to save back up phrase or private keys and keep it in safe place.

Given that you'll back up so the risk was lower with desktop wallets but that's another thing with viruses that are also catching info remotely.

Well yeah, keep it somewhere that it can stored safely.

[gergfghfh]

Keep your private key safe

- Back up your wallet, related files, and encrypted passwords.

- Make sure your wallet software or software has been updated.

- Make sure your password and seeds or memo phrases are always available and written.

- Move your Bitcoin assets off the trading floor and put them in a wallet that you can control and follow steps 1-3.

[lindatang]

Now that I install any wallet program, the first thing I do after generating the address is to back up, which is very important.
And for qt wallets, I use -datadir="AppData" to store the data in the specified location.

[mexite]

Call me old-fashioned, I still love paper materials. So what I do is to write out my private keys for wallets I'm using and keep it somewhere. I even do this for my Authy app in case anything happens to my mobile device. As for emailing yourself the private key, it's also risky, cos once your email address is hacked you can as well kiss your crypto funds bye.

[CathalG]

So guys what is the best option to store your ethereums if you don't have a hardware wallet? I'm very concerned about the security of my crypto...