You are viewing a single comment's thread from:

RE: What Next After Spending Your ByteBalls?

in #utopian-io7 years ago

I strongly recommend to everyone to set up a multidevice wallet, you can add it on top of your current wallet (1 device can handle several wallets).
Great benefits using it:

  • the definitions of smart-contracts and private load of Blackbytes are replicated through all your devices. If you lose a device, you can still spend them using other device(s) even if you don't have an up-to-date backup.
  • security is greatly increased if you set-up a multidevice wallet that requires at least 2 signatures to send a transaction. An attacker would have to take control of multiple devices to steal your bytes or assets, which is very unlikely.

A 2 of 3 sig multidevice wallet is perfect, for example using your phone, your tablet and your laptop. If you lose one of your device, you can still use the 2 other ones to spend what would require a full backup to be restored. And since 2 signatures are required, your funds are almost as safe as if you used an hardware wallet.

Sort:  

thanks very much for the additional info.
This means can only be backed up by full backup