Best practices

work in progress

Wallet

A common practice is to use one wallet for hot storage, and another for cold storage. Read the private key and the wallet on our forum for a understanding of the difference of what a wallet is compared to a private key.

Hot storage

Hot storage is a storage we mine to, and keep on a networked computer, a wallet we commonly access and use.

Have at least two copies(backups) of wallet.dat in two different locations, use dedicated USB sticks.

Cold storage

Cold storage is a wallet we create and have on a non networked computer. This should be a dedicated disk, with a fresh and clean OS installed. To use this wallet we create the transaction, sign it and save it on a dedicated USB stick, then import this signed transaction into our hot wallet and broadcast it. Have at least two copies(backups) of wallet.dat in two different locations, use dedicated USB sticks.

Paper wallet

we create a linux liveCD USB-stick

1. Download Ubuntu Latest LTS version is fine
2. Follow the Guide for your OS to make a bootable USB Ubunto guide
3. Download paper wallet generator Paperwallet and put on your USB or a separate USB stick.
4. Unplug ethernet cable, insert LiveUSB and reboot into Ubuntu Live. Do NOT connect with Wifi or any other means to any network.
5. Open index.html to start papwer wallet generator, and then select Ravencoin. Make your wallet(s)
6. Connect a Printer that does not have network or reprint capabilities, older cheap injets are usually fine, DYOR (Do Your Own Research). Print Wallets in at least duplicates.
7. Laminate the paper wallets to keep them safe from water damage.
8. Store wallets at two different locations, and keep them safe and secure.

Private keys

A private key is what control the funds, and make them spendable on its correlating public key.