GIGA: Keeping your wallet safe

It doesn’t matter if you’re new or experienced to the blockchain: there are a few safety implications that are essential to guarantee your assets are secure. Remember that it is always your own responsibility to keep your keys and private keys safe.

Below, we will cover some of the basics on how to keep your GIGA wallet secure.

Encrypting your wallet

When you encrypt your wallet, you basically assign a passphrase to your wallet. Once you’ve assigned a passphrase, you will for example have to unlock your wallet using this passphrase, to be able to perform transactions. Because of this, encrypting your wallet and storing your passphrase somewhere safe is an essential part to keep your assets secure.

1. Go to 'Settings', and then click on 'Encrypt wallet'.

2. You will now have to enter and save your passphrase. Attaching a passphrase will automatically make your wallet locked, until you unlock it again using your passphrase.

3. Make sure you store your passphrase somewhere safe! It’s not recommended to paste it in a text file. The safest way to store your passphrase is on an external drive like a USB and/or your phone.

If you lose your passphrase, you won’t be able to re-access your wallet or any of your funds!

Making a backup

The first thing you’ll have to do is open your wallet, click 'File' and then click 'Backup Wallet'.

Once you’ve done this, you’ll need to pick a location to save your file. It’s very important that you always save it as ‘wallet.dat’. It is also best to store your file on multiple different locations outside of your own computer. The safest option usually is an USB drive. This way you’ll have the file stored offline. Because of this, it’s not at risk to get compromised by hackers or any other malicious software.

Safety

Remember to keep your USB, phone or whatever other option you chose to store your file on safe. If your computer or wallet is corrupted, the wallet.dat file is the only way to retrieve your wallet!