if you are new in the world of cryptos or in COLX, please read this guide with big attention. I will introduce you, how you can use the wallet in a safe way, so you make sure that you dont lose your coins.
1. Step: Dont leave big amounts at exchanges.
The reason why you shoudnt leave big amounts of Coins on exchanges if you dont even trade there is very easy – Cryptos are decentral currencies which allows you to manage your money by your own. Crypto has the advantage that you dont need a bank or other third party provider like PayPal, Skrill etc to store your money. The Blockchain technology is one of the biggest acquistions in the modern time and its because of the advantage of decentral networks. You can store your coins safe in your wallet on your device, so there is no reason to trust a third party exchange which ruins every advantage of the blockchain technology.
Step 2: Install the COLX-Wallet to your system
Go to the official website and download the wallet for your operating system here:
If your wallet is not sychronizing follow this steps:
Step 3: Encrypt your wallet
To safe your wallet with a password you need to encrypt the wallet. For this you open it and go to settings-encrypt wallet. You have to set a password or passphrase now. It should be at least 12 chapters long and its recommend to use a strong password.
What is a strong password?
Check out this article : https://www.lifewire.com/strong-password-examples-2483118
Once you have encrypted your wallet and you charged your coins into it, its nessesarry to make a backup of the file wallet.dat . This file contains your keys and datas for the wallet, if you lose it all your coins will be gone forever!!! Its also necessery to have this file to fix potencial wallet problems.
Paths of the wallet.dat files:
On Windows, the default location is C:\Users\USERNAME\AppData\Roaming\ColossusCoinXT.
If the AppData folder is hidden, you can manually enter it in the address bar or you can use the Start Menu, Run or Search and enter %appdata% there. That will usually take you directly to the AppData\Roaming directory.
On Linux, the default location is ~/.ColossusCoinXT. ~ is your users' home directory. Type cd ~/.ColossusCoinXT to go there.
On Mac computers, go to Mac > User > Me > Library > Application Support > ColossusCoinXT. If the libary order is hidden:
Open Finder and hit command + shift + G, this will open the "Go to" window. Enter "~/Library/Application Support/ColossusCoinXT/" and click Go
I would advise you to make a backup of the wallet.dat file and the backup order. Put this file and folder to 2 USB Devices/external hard drives.
If the wallet has any problems and you need to reinstall it, you will need the wallet.dat file to reload your wallet without problems.
Review transaction and fees before actually send it!!!
If you want to make a payment, be aware to check the amount you want to send and also the price of the fee you set, because one you sent it, you cant get it big.
If you send big amounts, just send a small test-transaction first and see if the money arrives. If so, send the rest.
Security against hacker:
Do not share your wallet.dat and your passport with anybody!!!
If you store your wallet on your computer its only 100 percent safe, if you act carefully. There is the potencial about „bad guys“ who could be able to steal your Coins. The most common method would be to infect your computer with a RAT (Remote Access Trojaner). Most of these Trojaners have a keylogger included which wil send your wallet passwords and others to the attacker.
Once he has it he will be able to download your wallet.dat file from your computer and you woudnt even recognize it.
How to secure about this attackers?
Its pretty easy! Just dont accept any files from people you dont know! If you act smart your chances to lose your coins are about 0 percent!
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