BitSeeds: How to Back Up Your Bitcoin or Altcoin Wallet

 

As I explained in the previous lesson on encrypting your wallet, one of the responsibilities you have when you hold your own funds is to protect them. Encrypting your wallet protects them from being spent without your permission, but you also should protect your funds from being lost just like you would with cash or any valuable item.

Your real wallet is not the program itself, but a file called wallet.dat which has a copy of your private key. Think of your private key as a magic key that lets you spend or save your money and proves you own it. [Click for full post]