Just entered this world and have some doubts with wallets and keys.
I get how Ethereum works: you have 1 (public) address and if you own the (private) key, you control the funds. You can receive multiple tx to the same address and that address is like a wallet, if the key is safe. You can writte down the key (and address), come back in a year and spend the total balance.
How can I do the same with LTC? I got the core wallet, encrypted the wallet (this only forces to need a pwd to spend, that is not a private key, right?) and received 2 tx to 2 different addresses I created in core wallet. Let’s say 1 coin in the first and 2 coin in the 2nd. So now my total balance is 3 coins. I then make a backup data to a USB drive.
- Will that bck file work on any version of core wallet I may have in the future (Windows, Mac, etc?)
- If I lose the bck and remove core wallet from hard-drive or lose the hard-drive, how can I see my total balance? Will I need the private keys?
- Is there 1 private key for every addres I’ve used (2 in this eg.) or just one for total balance? If it’s 2 keys, can I send all my 3 coins to only 1 (own) address so I’ll just need 1 key?
- How can I see the private key?
- Can I also writte down the key/keys (and addresses) and come back in a year and spend the total balance?
- If I know the private key, do I still need the (encrypted) pwd to spend?
Sorry for so many questions, but I liked Ethereum logic and LTC Core wallet seems less user friendly. I’d like to know exactely what do I need to keep it safe and how offline can be an option to keep it safe.