Backing up your wallet can save you a lot of turmoil and strife. Accidents happen – whether it’s a broken phone, lost computer, or a potential scare. Backing up your cryptocurrency wallets private keys can make a potential crypto-catastrophe or major issue into a minor problem that can be more easily fixed, and without the loss of your cryptocurrency.
Jeremy, from our ICO or NO series, ran into this issue earlier this week. But his Jaxx Wallet was backed up. This saved his wallet’s funds and gave him some peace of mind.
In this video, he goes over how to back up your private key from your cryptocurrency wallet, so that way you don’t have the same issue. (He goes through Jaxx Wallet, Ark Wallet, and MyEtherWallet.)
In this video we go over some of the most commonly asked questions about one of our favorite cryptocurrency wallets, MyEtherWallet, or MEW. Ether is a separate unit from gas, which is used to power the Ethereum Virtual Machine. It is basically the unit that powers Ethereum’s engine. One of the most common mistakes when using MEW is that people forget that a small amount of Ether is required in order to pay for the gas needed to complete the transaction.
Ether is NEEDED to send ERC 20 tokens via MyEtherWallet!
Don’t forget to check out our demo and review of MEW here!
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If you are looking for the most secure way to store your crypto, you have probably discovered that you will want to purchase a hardware wallet. The top two on the market are Trezor and Ledger Nano S. While the Nano S wins in price – $69 USD (about 58 euros) to Trezor’s $117 USD (about 99 euros). In addition, Trezor does have a few additional functions that may make it a better choice for some folks.
Curious about which hardware wallet is right for you? Check out our review and demo of the Digital BitBox. The Digital Bitbox is one of the most popular cryptocurrencies wallets on the market today. Encompassing the Swiss ideals of privacy and security, the Digital Bitbox goes to great length to provide its users piece of mind. With an inconspicuous design and an easy to use native software client makes the Digital Bitbox an attractive purchase.
Watch Jeremy go over the features of the device, as well as a demonstration on how to use it! If you want to know more about the wallet and it’s features, continue reading below!
Cryptocurrencies are gaining in popularity and is leading everyone to ask the same question: How can I keep my cryptocurrency safe? Taylor goes into the steps you take to make sure your crypto is safe and secure, all while maintaining control over your own wallet and funds.
The prices of tokens has soared lately, and I want to add some extra security. What are my options?
It’s great that you’re thinking about the future and how you can protect your cryptocurrency. The first thing to know is that there are varying levels of security with tradeoffs in terms of convenience. Many people use a hosted service, such as Coinbase, however these are custodial services where you don’t actually control the coins. If your account is shutdown for any reason, you have no actionable recourse outside the court system. That’s why blockchain enthusiasts prefer to control their own coins.
By the end of this video, you’ll know what Jaxx wallet is, its features, how to get it and how to set up your own wallet! See below for our written overview of it’s features and compatibilities that matches what is covered in our video demo.
In this video, we’ll be going over all the features offered by MyEtherWallet. MyEtherWallet (MEW) is a web interface that generates wallets for storing your cryptocurrency. It is compatible with multiple wallet types (see below), and is a web based system that allows you to create a wallet and send your crypto to it. This wallet is for Ether and ERC20 tokens (read more about ERC20 here and here).
Securing your cryptocurrency is an essential factor of participating in blockchain technology networks. This Ask an Expert reviews HD wallets, which created a greater security for your crypto tokens. Taylor explains it below and some of the important aspects of HD wallets. You can read the script from the video below! Be sure to like this video if you enjoyed it, and subscribe to our YouTube channel for more Ask an Experts!
What are HD wallets?
Hierarchical Deterministic (or HD for short) is way of automatically generating new payment addresses based a series of special calculations.
If you’ve considered a cryptocurrency hardware wallet, then you’ve probably already come across the Ledger Nano S. And for good reason! The Nano S is the result of success of the original Ledger Nano. A screen and pair of buttons helps the user enter information on the device directly. But perhaps the most sought-after aspect of the Ledger Nano S is its multiple token support and attractive price. It is only $69 USD (about 58 euros) to top competitor Trezor’s $117 USD (about 99 euros).
Multiple token support
In the beginning, hardware wallets were primarily designed solely for use with Bitcoin. Even as alternative cryptocurrencies such as Litecoin started popping up, no hardware wallets were made to support this. Part of the problem is differing cryptographic algorithms. Ledger decided to solve with this with Ledger Blue and Ledger Nano S devices, which support apps. That’s right, the app model is now prevalent on our security devices!
In this video, we go over the how to store your cryptocurrency, as well as four different types of wallets. If you’re more of the reading type, feel free to read about hardware wallets. We are also aware you might need more info about crypto, so you can read WTF is Cryptocurrency too if you want! We take an in-depth look at all-things-crypto!