Backing up your bitcoin wallet

Backing up my wallet

As we have no control over users’ wallets or their private keys, it is very important that you create a secure backup of your Bitcoin.com wallet.
If you were to lose or break your device, the only way to recover your Bitcoin.com wallet and the funds held within is with your 12-word backup phrase.

As long as you have written down and secured your 12-word recovery phrase, you will always be able to restore your wallet and any BCH/BTC funds stored within. If you have not yet written down your backup phrase or have lost it, please do so now while you still have access to your wallet.

If you do not have your recovery phrase written down, there is nothing Bitcoin.com can do to help recover the wallet or funds for you.
It is up to the user to make sure they have their wallet backed up and the recovery phrase kept safe.

Make sure to store your backup phrase in a very secure location, such as with passports, birth certificates, real estate titles, and other precious documents.

To find your 12-word recovery phrase please follow the steps below:

1. Open your Bitcoin.com wallet application.

2. Select the wallet you wish to back up, BTC or BCH

3. Tap on the red «wallet not backed up» text to proceed directly to the backup stage.

(If you do not see this text, please tap to the settings cog in the top right of the screen, and then on «Backup»)

4. Follow the on-screen instructions to start the backup process.

5. Write down the 12 words on a sturdy piece of paper. Your 12-word recovery phrase will be displayed reading from left to right, top to bottom.

6. Once you have written down all 12 words tap on «I’ve written it down» and then re-enter the words back in the same order to confirm you have it correct.

7. If you have followed all instructions correctly it will now say «Your bitcoin wallet is backed up» Read the warning and tap «got it».

Your Bitcoin.com Wallet is now backed up!

Please note that if you create any new sub-wallets within your Bitcoin.com wallet application, you will have to back these up separately.

Since Bitcoin.com has no access to users’ wallets, we cannot help recover wallets or funds if the user has failed to back up their wallet.

IMPORTANT: Make sure to store your backup phrase(s) someplace you know for certain it will be safe. Treat it as a very valuable possession and store it with other documents such as birth certificates, passports, real estate titles, etc.

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What is Bitcoin?

Bitcoin is based on the ideas laid out in a 2008 whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System

How do I create a Bitcoin wallet?

Creating a Bitcoin wallet is as easy as installing software on your mobile device or computer

How do I receive bitcoin?

To receive bitcoin, simply provide the sender with your address. You just need to make sure you’re providing the right one.

What is Bitcoin?

Bitcoin is based on the ideas laid out in a 2008 whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System

How do I create a Bitcoin wallet?

Creating a Bitcoin wallet is as easy as installing software on your mobile device or computer

How do I receive bitcoin?

To receive bitcoin, simply provide the sender with your address. You just need to make sure you’re providing the right one.

Get the most out of your new Bitcoin Wallet

Subscribe to our Bitcoin Wallet updates to learn more about awesome new features as soon as they’re added

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Backingup your wallet

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Contents

Locating Bitcoin’s data directory [ edit ]

The data directory is the location where Bitcoin’s data files are stored, including the wallet data file.

Gnu/Linux [ edit ]

By default Bitcoin will put its data here:

You need to do a «ls -a» to see directories that start with a dot.

If that’s not it, you can do a search like this:

To change the directory Bitcoin stores its data in:

Mac OSX [ edit ]

By default Bitcoin will put its data here:

Windows [ edit ]

Go to Start -> Run (or press WinKey+R) and run this:

Bitcoin’s data folder will open. For most users, this is one of the following locations:

If you have trouble browsing to these folders, note that «AppData» and «Application data» are hidden by default.

Backing up your wallet files [ edit ]

Note: Using Dropbox to back up your Bitcoin data is not recommended as doing so introduces the following security concerns:

1. Dropbox stores your encryption key (meaning that a disgruntled Dropbox employee or an attacker who gained access to the system could decrypt your Dropbox data and steal your bitcoins)
2. the Dropbox client only needs a password for the first login. After it authenticates once, the server assigns it a token which it uses to show that, at one time, its user knew the password rather than sending the actual password (meaning that if you ever use the Dropbox client on another PC, that PC’s users can access your Dropbox — even if you change your password — and can steal your bitcoins or get a virus that will steal your bitcoins).

For these reasons, an alternative that always uses password authentication such as Wuala should be used. Wuala’s servers do not store your encryption key and the program authenticates with the password each time it is started.

Whether you use Dropbox as your backup or not, it is advised to use what Steve Gibson calls «pre-Internet encryption» which means to use some form of encryption on your files before you back them up, in case an attacker gains access to that backup. Make sure to pick a password that is memorable but secure.

The only file you need to back up is «wallet.dat» which can be done one of two ways. To make a copy of the wallet.dat file, ensure that Bitcoin is closed and copy this file somewhere else. The other way is to use the backupwallet JSON-RPC command to back up without shutting down Bitcoin.

Once a copy has been made, encrypt it, and put it in two or more safe locations. Consider the risk due to theft, fire, or natural disaster in proportion to the value of bitcoins stored in the wallet.

Backup wallet and blockchain data [ edit ]

Follow these instructions to backup all the bitcoin data (wallet and block chains) to an encrypted disk image.

1. Open Disk Utility
2. Click New Image and choose a big enough size, 128-bit or 256-bit (faster or more secure) encryption and single partition.
3. Save it somewhere you won’t lose it (like your Wuala, Dropbox, Strongspace or whatever)
4. Choose a safe and strong password
5. Move everything from

/Library/Application Support/Bitcoin/ to the image

Symlink it back so the app would be able to use it

ln -s /Volumes/Bitcoin

Don’t forget to mount your image before using Bitcoin and unmount it after quitting.

Backing up just your wallet file [ edit ]

Follow these instructions to backup just the wallet.dat file. This results in a smaller disk image, but it’s more complicated to do.

1. Open Disk Utility
2. Click New Image and choose a big enough size, 128-bit or 256-bit (faster or more secure) encryption and single partition.
3. Save it somewhere you won’t lose it (like your Wuala, Dropbox, Strongspace or whatever)
4. Choose a safe and strong password
5. Move your wallet.dat file to the image
6. Symlink it back so the app would be able to use it

ln -s /Volumes/Bitcoin/wallet.dat

Don’t forget to mount your image before using Bitcoin and unmount after quitting it.

Note: If you start the Bitcoin application without having the image mounted, the application will overwrite your symlink with a new wallet. If that happens, don’t panic. Just delete the new wallet.dat, mount the image, and recreate the symlink like above.

Automation: You can create a small application using Automator (included in OS X) to automatically mount the wallet and then launch Bitcoin App. See the Screenshot on how to do this.

If one doesn’t want to use encrypted Disk images, then a small shell script can be used instead that takes care of decrypting the wallet, launching bitcoin client, and encrypting it after the client exits. This script works on both OSX and Gnu/Linux: bitcoin-launch-script

Email-based Archival and Remote Backup [ edit ]

One of the simplest methods for storing an appropriately encrypted archive of your wallet.dat file is to send the archive as an email attachment to your own e-mail address. Services like Gmail use very comprehensive distributed networks that make the loss of data very unlikely. One can even obfuscate the name of the files within the archive, and name the archive something less inviting, such as: ‘personal notes’ or ‘car insurance’.

Another solution is to use a file storage service like Wuala ( encrypted, instructions), Dropbox (after encrypting the wallet first) and others, including the more secure SpiderOak.

Automated backups using Cron, Bash and GNU/Linux [ edit ]

Linux users can setup backups using cron by telling it to run a backup script at set intervals of time. Run ‘crontab -e’ and add this line near the bottom:

This cron line will run the /usr/local/bin/backupwallet.sh script at the 01 minute of every hour. Remember to add a newline after the last line of the crontab file, or else the last line won’t run. You may also wish to ignore the script’s output by appending » > /dev/null 2>&1″ to the line (this will also prevent emails from being sent).

The shell script:

• Calls bitcoind backupwallet to create a time/date-stamped wallet.
• GPG encrypts the wallet with your public key.
• Copies the result using one of several storage options (cp, scp, and s3cmd).
• Uses the rm or shred command to remove the temporary wallet files.

Be sure to modify the script options to fit your setup. After you save, make sure the file can be executed properly by the cron user. Common permissions for files in /usr/local/bin/ can be applied using (verify with your distribution!):

Restoring your wallet file [ edit ]

Assuming your backup is recent enough that you haven’t used up all of your key pool. restoring a wallet to a new (or old) location and rescanning the block chain should leave you with all your coins. Just follow these steps:

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How to Backup a Bitcoin Wallet

Disclaimer: this article includes affiliate links. When you make a purchase through one of our links, we may receive commissions.

In this post we are going to cover:

• Different Kinds of Wallets
• What a Backup is
• Tools for Backup
• Best Wallet Backup Method

Plus more. Read on to learn everything you need to know about how to backup a Bitcoin wallet.

Did you just get your first Bitcoin?

Wondering about the best way to back it up?

Introduction

Times are changing as a country’s standard currency isn’t the only game in town.

Cryptocurrency first emerged in 2009 with the release of Bitcoin. Ever since, Bitcoin has risen in value, leading to the creation of other cryptocurrencies.

Naturally as the value of these currencies increases, the need for security will as well.

However, this security can be somewhat tricky to achieve due to the nature of cryptocurrency.

With cryptocurrency existing in areas all over the world, users must back up their Bitcoin currency in case of the following:

• Wallet theft
• Wallet damage
• The classic “lost my wallet” situation.

Bitcoin Wallet Security

Hardware Wallets

Hardware wallets are the preferred option over software wallets for cryptocurrency users to backup their information in a secure manner.

Why Are Hardware Wallets More Secure?

Since hardware wallets are physical devices, users are required to press buttons on the device to confirm transactions manually.

Ledger.com — PIN code management directly on device

Manual input requirements make hardware wallets more challenging to hack, which leads to users storing more significant amounts of currency on the device. Manual input requirements include the following:

• Pin codes that must be entered in person
• Distinct backup phrases that are used to recover private keys from a lost, stolen, or broken wallet

Info: An additional line of defense that hardware Bitcoin wallets have is offline storage. Offline storage could make it, so your device is never exposed to the outside world. You’re going to have to spend some money when purchasing a hardware wallet. While you might be hesitant, it’s worth it to pay a little extra to protect your cryptocurrency that might otherwise be vulnerable.

Potential Disadvantages of Using a Hardware Wallet

• While hardware wallets offer recovery phrases, you still need to keep track of the small, physical item
• If you write down your recovery phrases on a piece of paper, you can lose the paper, or have the paper be compromised by weather elements such as fires and floods
• Hardware wallets can be a bit more difficult for users to navigate compared to software wallets

Ledger Nano X

• SCREEN:
• RELEASED: 2019
• PRICE: $119
• BLUETOOTH:

Ledger Nano S

• SCREEN:
• RELEASED: 2016
• PRICE: $59

Trezor Model T

• SCREEN:
• RELEASED: 2018
• PRICE: $159
• TOUCH SCREEN:

Trezor One

• SCREEN:
• RELEASED: 2013
• PRICE: $59

What About Software Wallets?

Software wallets consist of storing cryptocurrency on programs or apps that can be accessed via a smartphone or computer.

While software wallets are more straightforward than operating a hardware wallet, the level of security is lower, which increases the risk of the device being compromised.

Info: Reduced security leads cryptocurrency users to utilize software wallets for smaller transactions. Hot wallets are a typical example of a software wallet that stores lesser amounts of Bitcoin.

What Backing Up a Bitcoin Wallet Does

Backing up a Bitcoin wallet serves to store the user’s private keys and public addresses under a recoverable file in case your wallet gets stolen, damaged, or lost. Computer or software failure is an additional reason as to why you should back up your Bitcoin wallet.

Advice: It is recommended that you backup a Bitcoin wallet as an accessory to other Bitcoin wallets instead of storing all your currency in one device.

Private keys are essential as they distinguish who owns the Bitcoin, which allows users to send Bitcoin. Public addresses act in contrary fashion as they enable users to receive Bitcoin.

Warning: Backup is essential. If you lose your backup data and can’t access your wallet, your bitcoins are permanently gone.

Backing Up the Wallet

Storing the Seed Words (AKA Recovery Phrase)

Billfodl acts as the ultimate tool for Bitcoin users to safely store their sensitive cryptocurrency info.

Many cryptocurrency backup devices cost over $100. The Billfodl is a slightly more affordable option that sits at $89. You can find the Billfodl on our website.

The information stored on Billfodl devices can include the following:

• Private keys
• Backup seeds—these allow users to recover private keys through use of a backup phrase
• Two-factor authentication backup codes

Info: Billfodl’s are nearly indestructible by design as they are made out of marine grade 316 stainless steel. Billfodl stores cryptocurrency information offline to further protect the user’s sensitive data. Billfodl is also fire proof and water proof, protecting your coins from floods and house fires; events that will ruin your hardware or software wallet.

Billfodl will survive this easily. A hardware wallet will not.

Once you’ve assembled your Billfodl, you will have a wallet-sized holding device containing private keys or recovery seeds.

The private keys and recovery seeds will help you recover currency in case something happens to your main wallet.

Remember, the backup is a list of all your private keys. Private keys reflect who owns the Bitcoins.

Software Backups (not recommended)

Before you store your private keys physically by recreating your recovery phrase in a Billfodl, backing up your Bitcoin wallet can help guard your currency information against human errors and computer failures.

Wallet.dat

Wallet.dat is a standard method used by Bitcoin core and others to back up a wallet. The file on Wallet.dat contains keys to spend outputs, addresses, transaction info, and other types of metadata.

You can find the Wallet.dat file in Bitcoin’s data directory.

Warning: Keep in mind that the file has different locations based on the operating system.

To back up, copy the file onto an external media device such as a USB drive. Go under tools and hit “export private keys.”

To restore your backup, copy your backed up wallet.dat over an existing one in the bitcoin data section.

How to get to the wallet.dat file using the Bitcoin Core wallet

BIP 32

BIP 32 is an additional method you can use to back up your Bitcoin wallet as it verifies critical pairs from a single seed. The seed creates a master private key that can be applied to any BIP 32 wallet.

To back up the wallet, users will first create a QR code or copy the master key to a text file to encrypt and store it on an external media device.

The Best Wallet Backup Method (Recommended)

As you can see, there are many things you can do to backup your Bitcoin wallet, but there is one method that is the best.

This method is known as “seed splitting”, or what we call “sharding” here at Billfodl.

Essentially, you are taking the seed held in your Billfodl and you are separating it into 3 overlapping parts so that you need two of the three parts to recover your funds.

Why do we do this?

The main reason we split our seed is because if the entire seed is in one place and someone finds it, they can take all the coins held at that address. This is, after all, exactly what we are trying to avoid in the first place.

Info: A single Billfodl is great at protecting us from natural threats like fires and floods, but not human beings who have found the Billfodl.

If we split our seed, then even if someone finds one of the pieces, they still will not be able to take your coins because they are missing some of the seed. You can use 3 Billfodls.

Here is how it works:

• You remove the 3 shards from the Multishard box.
• Each shard is labeled with the words of the seed you need to load into it.
• Shard One holds seed words 1-16.
• Shard Two holds seed words 9-24.
• Shard Three holds seed words 1-8 and 17-24.
• Input the seed words into their respective shard units (pictures above)
• Hide each of these shards in different locations. We recommend one in a safety deposit box, one at home and one somewhere only you would think to look.

As you can see, there is an 8 word overlap between any two of the units. That means that you have some redundancy in your backups while also decreasing the risk that someone can take you coins — a win/win.

However this also means that whenever you need to recover, you will need to retrieve two of the units, but at least you can afford to lose one.

Info: The tradeoffs are therefore very obvious: splitting your seed is the way to go.

You can also backup your wallet.dat file as usual if you choose so, but again, we do not recommend it.

And if you are interested in performing this seed splitting 2-of-3 style backup method, you can pick up a trio of Billfodl’s at a discounted price.

Is a hardware wallet necessary?

Hardware wallet is a MUST for cryptocurrency investors. This is the only way to keep private keys oofline, and this is how the investors are protected from hacking.

What is a Billfodl?

Billfodl is is the safest way to store your private key or seed words.

Why Use a Billfodl?

Billfodl gives you the peace of mind to know your cryptocurrencies are backed up on something that isn’t going short circuit, get hacked, burn up, or rust out.

Does the Trezor One Work with Billfodl?

Yes, you can use the Billfodl to back up any Trezor device, including the Trezor One.

Does the Trezor Model T Work with Billfodl?

Yes, you can use the Billfodl to back up any Trezor device, including the Trezor Model T.

Does the Keepkey work with Billfodl?

Yes, you can use the Billfodl to back up a Keepkey device.

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About the Author:
Colin Aulds

Colin is a founder of Privacypros.io and Billfodl. He is also 1/4th of the Unhashed podcast. In his spare time he’s a PC gamer. Follow him on twitter.

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