Crypto wallets do differ enthusiasts whose first accounts were set up long ago know the distinctive points and are aware of all the pros and cons. Meanwhile, the newbies need some time to figure it all out. In the article, we will disclose information about the basics of Geth wallet and how to command it and command your assets on it, most importantly. But first, let us start by providing a brief description of what a wallet is, how to create an account, how crypto can be stored, with a clear explanation of the features of the wallets for non-interactive use.
Start thinking about a new password for your first account, for you will be able to start and configure your Geth account right after you’ve read the article. Only read carefully.
Types of Wallets
Keeping your cryptocurrencies safe is a question of primary importance for those who are interested in trading. There are a number of them of different types:
- Hardware: separate devices looking like a simple USB, which are connected to a computer. They are pretty secure but not the easiest for beginners to use.
- Paper: a physically printed QR code used to commit transactions. They used to be quite popular until hardware wallets turned up but are less common these days.
- Desktop: a program that is installed on your personal computer. Desktop wallets are widely used now due to some obvious advantages: there is nothing extraordinarily complex about using them. They give anonymity and involve no third party. It is pretty difficult to hack a desktop wallet account, making them very attractive both among crypto professionals and ordinary users.
- Mobile: an application that is downloaded onto your mobile device. This type of wallet is efficient and mostly designed for you to enjoy a pretty and understandable user interface but imperfect in terms of a potential malware infection probability.
- Web: online wallets. Apparently, they are very vulnerable to hacking and might be a bad idea to use for keeping large amounts of crypto money. However, feel free to get yourself a web wallet for speedy little transactions.
No matter what wallet you use and how much money you keep on your accounts, never make a mistake to share the password — this will result in losing the stored crypto and your private data.
Now then, let us update you on the essentials of Ethereum wallets.
The Ethereum blockchain was launched back in 2015. It is a decentralized software platform used for its own cryptocurrency. It is used to receive and send transactions, execute smart contracts, and store data for third-party applications.
Ethereum wallets are those crypto wallets where you can keep your ETH. You may find the current information about your balance, history of transactions, and more information stored there in your accounts.
Make sure to understand that your wallet is attached to the Ethereum blockchain, which is a decentralized ledger, and it means that no one has any control over your personal data or monetary funds. You can change your wallet provider any time you wish to do so, but your accounts will remain. Search for more information about Ethereum on its official website.
What Actually Is Geth?
Let us dive deep into the details. This will help you command Geth account and efficiently.
First off, Geth stands for Go Ethereum. This is one of three original implementations of the Ethereum protocol. Go Ethereum can be downloaded as a single client called Geth that you could install on almost any operating system. You can also use it as a library that you can embed in your Go, Android, or iOS projects. Three interfaces are offered:
- The command line subcommand and options;
- A JSON-RPC server;
- An interactive console.
It is uncommon among ordinary crypto users but really popular with programmers.
Geth is necessary when you want to download Mist User Interface Wallet and run it successfully. Geth can exist and work without Mist wallet but not vice versa.
One of the key features of geth is it being a wallet, where you can create multiple accounts on your local node.
Keep on reading to learn more details about this product.
How to Manage Your Geth Account
Have a look at the major points:
- Geth’s specific features make you are able to create new accounts, list all existing accounts, import a private key into a new account, change your password, and migrate to the newest key format.
- It supports interactive mode when you are prompted for a password. A non-interactive mode where passwords are supplied via a given password file is available as well.
- For non-interactive use: You supply a plaintext password file as an argument to the password flag. The data in the file consists of the raw characters of the password, followed by a single newline. Note: Supplying the password directly as part of the command line is not recommended, but you can always use shell trickery to avoid that restriction.
- Make sure you remember the password you gave when creating a new account (with new, update, or import). Your account will be impossible to get into without it, as there is no «forgot my password» option. In other words, there is no way to unlock an account you have lost the password of.
- It is secure to transfer the entire directory or the individual keys therein between ethereum nodes. Take into account that if you are adding keys to your node from a different node, the order of accounts may become different. So be careful not to rely on or change the index in your scripts or code snippets.
- If you wish to import your presale wallet, remember your password, write a relevant code, and it will serve as a prompt for your password and help you import your ether presale account.
What Is the Main Difference Between Mist and Geth?
Mist is a pretty simple to use Ethereum wallet. Geth is a program with a more global idea and a number of functions, including being a wallet. You can use Geth without Mist, but Mist won’t be available without Geth.
What Is an Example Code for Creating an Account?
If you wish to create an account for interactive use, you may try the following command:
$ geth account new
Your new account is locked with a password. Please give me a password. Do not forget this password.
What Is an Example of a Code for Updating the Account?
An example you may opt for is there below:
$ geth account update a94f5374fcelsgfj739e2a8697c15331677e6ebf0b
Unlocking account a94f5374fce5edbc8e2a8697c15331677e6ebf0b | Attempt 1/3
Account ‘a94f5374f9375hjdka3697c15331677e6ebf0b’ unlocked.
Please give a new password. Do not forget this password.
How to Save the Check My Account Balance Function?
Since this function will no longer be available after restarting geth, it can be helpful to preserve commonly used functions to return to them after some time. Use the loadScript function.
First, save the check all balances() function definition to a file on your computer. For example, /Users/username/gethload.js. Then load the file from the interactive console:
> loadScript(“/Users/username/gethload.js”) true
Can I Update the Existing Account With the Update Subcommand?
Yes. An example code is:
geth account update 5afdd78bdacb56ab1dad28741ea2a0e47fe41331 9acb9ff906641jkfhjkf789jc96a837756287f
geth account update 0 1 4
You can use the same command to move an account of a deprecated format to the newest format or change the password for an account in the future.
Can I Update the Client Without Using Data?
There is nothing complicated about updating geth:
- Begin by downloading and installing the most recent version of the geth client, then shut down your node and restart with the new software.
- After that, geth will automatically use the data of your original node and synchronize the latest blocks that have been mined on your last software.
- You can update an existing account on the command line with the update subcommand with the account address or index as a parameter. It is also possible to specify multiple accounts at the same time. After a successful update, all previous formats/versions of the same key are forgotten.
- The encrypted format of your account will be preserved in the newest version, and you will be prompted for a passphrase to unlock the account and another one to have the updated file saved.
How to Create an Account by Importing a Private Key?
Import an unencrypted private key from <keyfile>, create a new account and print the address. There is an encrypted private key in the key file. The account is saved in an encrypted format, and you are prompted for a passphrase. Make sure to save this password in a secure place so that you are able to unlock your account in the future.
Be careful: when you copy keys into an existing node’s Keystore, the order of accounts, typical for you, may change. Since you can directly copy your encrypted accounts to another ethereum instance, this import/export mechanism is not obligatory to use when you transfer an account between nodes.