In the previous 3 articles, I talked about the basics of blockchain, how ordinary people buy and how to participate in ICO in imtoken. A core question is actually not mentioned, how do we store digital currencies, because what we talked about before is to buy bitcoin and ether in the exchange market, these currencies are stored in the exchange market, and they are not really your wallet.
(1), the concept of wallet
First of all, let's understand the wallet. It needs to be clarified that the wallet is not actually a tool for holding money, but a tool for holding a key (private key and public key). With the key, you can control the digital currency on the corresponding address. right. The following is an explanation of the Bitcoin mechanism. The digital currency wallet mechanism is similar.
Figure 1 (from "Mastering Bitcoin" by Andreas M. Antonopoulos)
1. Private key: It is the representative who has the right to withdraw money from a bitcoin address. If you master the private key, you have all the power of life and death on the corresponding bitcoin address. The private key can calculate the public key, and the public key can calculate the bitcoin address. For each transaction, the payer must issue the private key and the signature generated by the private key. The signature of each transaction is different, but generated by the same private key. private key is a string
2. Public key: It is paired with the private key. The public key can calculate the bitcoin address, so it can be used as a certificate for owning the bitcoin address.
3. Bitcoin address: If the blockchain is a ledger, the Bitcoin address is the account number in it.
4. There are many types of wallets, cold wallets, hot wallets, hardware wallets, brain wallets, paper wallets, etc. I feel dizzy when I see these concepts, I don’t think we need to understand that much. As long as we understand the application scenarios, the mobile terminal is still the PC terminal, and I think we will only use the light wallet. The full wallet that stores all the transactions is too scary. If you are really worried, just install this wallet on a terminal where you don't usually surf the Internet to prevent hackers from stealing it.
(two), wallet actual combat
Wallets are divided into Bitcoin wallets, Ethereum wallets, EOS wallets, etc. according to different protocols.
1. Bitcoin wallets can be found on bitcoin.org on the official website of Bitcoin. There are many wallet client manufacturers to choose from.
2. Ethereum wallet.
Because many digital currencies are crowdfunded with ETH (Ethercoin) recently, let's take the Ethereum wallet imtoken as an example to explain a wallet application process.
imtoken is an Ethereum wallet developed by a company in Hangzhou. It has many functions. You can check the market and participate in ICO. At the same time, it has opened the interconnection of Yunbi.com, which is relatively easy for beginners to get started. This is a light wallet on your phone, download the APP on the token.im website.
Click "Create Wallet" and give the wallet a name and password. Be careful: remember the password yourself, imtoken will not remember your password, and the forgotten password cannot be retrieved! ! So forgetting your password means losing all the currency in your wallet! ! Therefore, it is highly recommended to set a password reminder message to prevent your own amnesia.
Why can't it be recovered? This is also your responsibility, because if there is a storage or reset function, it is easy to leak the password.
After clicking Create Wallet, the wallet creation is complete.
Next, we need to back up the wallet. The wallet backup is used to restore the wallet settings in the event that the program is deleted or the phone is stolen. There are two ways: backup the mnemonic phrase or backup the keystore.
The mnemonic is a randomly generated 12 words, you copy this out and put it in a safe place, and then copy it in order and put it in a safe place, you can understand this mnemonic as another form of the private key , according to which the wallet can be recovered. For example, if you accidentally deleted the imtoken app or lost your phone, you can use this mnemonic to restore your wallet.
The keystore is a string similar to the one above. You can back up this keystore, delete the wallet, and use this keystore to restore the wallet. After a few practice sessions, you will be able to master your wallet.
At this point, the wallet is created. On your wallet page, click on the right side of the address bar
You will get the address of your wallet. The following is my wallet address. If you think this article can help you, you are welcome to donate to my address: 0x743F67527FF4DD211528c7e7AE041888f70D1C70
(3) Withdraw money from the exchange to the wallet
Click on my assets:
Select the withdrawal address of the bound blockchain asset:
Enter the address exported from the wallet earlier:
In this way, you can import the ETH you purchased on Yunbi.com into the imtoken wallet. However, there are often some problems in exporting ETH from Yunbi.com recently. Please try again when it is stable.
(4) Transfer between wallets
After entering the wallet, select the amount area:
The transfer page will be displayed:
You can enter the account number yourself, or you can scan it with the upper right corner:
Press Next and enter the password to transfer money.
Author: luckfang
Link: http://www.jianshu.com/p/0d2f6a3e9c23
Source: Jianshu The
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