So how exactly should I keep my private key? Abtc Aibit and you are introduced to three ways to protect the lifeblood of your digital assets. i. Alternate Keyfile or JSON file.
II. Mastery of their own mnemonics.
Usually, when you register your wallet, there is a helper word, make sure to write this down; if you forget your private key, your helper word can help you retrieve your private key, the helper word is usually made up of a paragraph of 12 random words, in other words the helper word is another form of private key
。 It algorithmically converts the 64-bit private key into several common English words, or words in other language versions, all obtained from a fixed lexicon, which can be used by different wallets. III. With digital wallets that hold the patent for recovery.
If the private key is lost there is still a chance to recover it. There are already digital wallet products in China that can help users who have forgotten their private keys to retrieve their wallets, such as the Bit$$ wallet or the P-wallet, a feature developed in 2014, and the Bit$$ and P-wallets have a pre-defined wallet retrieval feature that solves the problem of losing private keys that result in the loss of digital assets.
When users lose their private keys caused by losing their wallets or sudden damage to their storage devices, they can retrieve their digital currencies by using a low-authority backup private key (saved by themselves or hosted to a trusted institution/person). The retrieval command will not transfer the digital assets immediately, but will take effect after a period of preview, so if the backup private key is used fraudulently, users can also find it in time and use the original private key to transfer the digital assets to a secure wallet to avoid losses.
The wallet retrieval feature is also the first blockchain invention patent filed in China. The wallet retrieval feature is to set up a spare private key for the wallet to ensure that coins can be retrieved even if the private key is lost, in addition to a series of permission controls for the spare private key. Both P-wallet and Bitcoin wallet are digital currency wallets developed by the country itself.
Again, a reminder that preserving your assets requires three additional things. 1. Wallet private keys are best transcribed using pen and paper, while keeping them for yourself 2. Do not trust all airdrop tokens that are being used as a reason to claim private keys! Always remember: there is no such thing as a free lunch. 3.Download and use Ac-Token wallet, Ac-Token is one of the most secure and convenient private key crypto wallets for digital assets available today.