Key store export private key bitcoin

In this guide I will introduce you key store export private key bitcoin private keys, their importance inside a cryptocurrency wallet and the reasons why you must back them up securely. I will also be making a recommendation on where to safely store your private keys. As always anything I write is not financial advice and I am simply key store export private key bitcoin my experience with private keys and cryptocurrency wallets.

A private key is a string of numbers that represent a cryptocurrency inside a wallet. Key store export private key bitcoin is an example of a fictitious private key:. The role of a private key is to give anyone who knows the private key unrestricted access to the crypto asset Bitcoin, Dash, etherium etc it represents.

The private key by definition proves ownership of a crypto asset. In the physical world you use a pen to sign a cheque to authorise payment. In the cryptoverse the private key is used to sign a transaction and authorise payment. The difference being that the private key is encrypted, not publically visible and authorises the transaction in the background - neither the sender nor the receiver see the private key.

For example when you want someone to pay you 0. The majority key store export private key bitcoin mainstream cryptocurrency wallets like Exodus or Jaxx have a seed consisting of at least 12 words.

Whilst this is unlikely, how about if the wallet software stops supporting a particularly cryptocurrency? This happened in when the Exodus wallet stopped supporting Dogecoin.

In either of the eventualities I mentioned previously, you would need to move your cryptocurrency assets to different software wallet - the only way to do this is by backing up the private keys and importing them to the new wallet.

There are so many different types of wallet, each cryptocurrency has its own wallet and there are wallets that support multiple currencies. When you export private keys from key store export private key bitcoin wallet, they will normally save in a csv spreadsheet format which can be printed off or saved.

My recommendation is to save the exported keys to two or more quality USB memory sticks like the Kingston DataTraveller and put them in separate physical locations in case of fire. When you save the private keys to a USB drive, you must somehow protect the keys from being seen should someone unauthorised get hold of them.

I recommend using VeraCryptan open source encryption software that runs on Windows, Mac and Linux to do this. The encryption process uses a master phrase to protect the keys and without this phrase your keys cannot be revealed. I will be writing a how to guide in the future on using VeraCrypt to encrypt your private key backup. Remember with cryptocurrencies there is no bank helpline to call and you are the bank manager!

Just like your bank has a system of passwords and memorable phrases to recover your bank account, so to do you need a system to recover your wallets should something happen.

I love helping you manage your cryptocurrency portfolio easily and training you how to use crypto wallets securely. If you need assistance do get in touch. If you like what you have read and are feeling generous, feel free to donate any amount to one of my Crypto public addresses:. Read here to know the importane of keeping your crypto funds safe - https: The importance of a wallet's private keys and how to back them up.

What is a private key? Below is an example of a fictitious private key: What are private keys used for? What is a public address? Why you should backup a private key? How to protect your private key backups When you save the private keys to a USB drive, you must somehow protect the keys from being key store export private key bitcoin should someone unauthorised get hold of them.

Personally I recommend giving that master phrase to a close friend or relative whom you trust. A very private affair! Authors get paid when people like you upvote their post.

Private keys are long strings of letters and numbers that are literally the key to spending your bitcoin. Each wallet has a number of private keys one for each address. You can back up your private keys for a MultiBit Classic wallet into a text file called a 'private key export file'. You can password protect this text file to prevent other people reading this data. Below is an example of a private key export file containing demonstration private keys. You typically use Notepad or similar when working with this file.

The key shown in bold begins with either "L" or "K". The date is there to allow import software to know when the key was created to avoid looking further back in history than is necessary. Don't change the date to be more recent as doing so will very likely cause a failed import and an incorrect balance. Below is an example of a password protected private key export file containing demonstration private keys.

The content is encrypted AES, password-based key derivation so can only be decrypted by special software and the provision of a password.

The MultiBit Classic wiki provides detailed technical information about the file format. If you are intending to store exported keys for a very long time and are concerned about code existing to open them far in the future then we recommend the following:. Back to Table of Contents Exporting private keys Private keys are long strings of letters and numbers that are literally the key to spending your bitcoin.

How to export the private keys in a wallet In the 'Wallets' side panel choose the wallet you want to export the private keys for. Select the menu option 'Tools Export Private Keys'. The 'Export Private Keys' screen appears. By default, the private keys file is called the same as your wallet file, only with an extension 'key' rather than wallet.

If you want to output the private key file to a different directory or filename click on the 'Export to. A file chooser opens and you can select the file to save to. It is strongly recommended that you password protect your private key export files.

To do this, click on the 'Password protect export file' radio button. Enter the password you want to use in the 'Password' field and then repeat the same password in the 'Repeat password' field. If they match you get a little green tick on the right hand side. To output the private keys to the output file specified, click on the button 'Export private keys'. The private key file is written and a success message appears.

If the export of the private key file fails for any reason the error message is given on screen. After the export file is written, it is then verified by reading the file back in again and checking the keys in the file match the keys in the wallet.

A verification message is given if this is successful. Export file format no password Below is an example of a private key export file containing demonstration private keys.

Anyone who can read this file can spend your bitcoin. The century, 'T' and 'Z' are mandatory Labcabcabcabcabcabcabcabcabc T Export file format password protected Below is an example of a password protected private key export file containing demonstration private keys.

If you are intending to store exported keys for a very long time and are concerned about code existing to open them far in the future then we recommend the following: