If you skipped the key creation in setup, or want to add more wallets, follow the guide below.
Once you’ve downloaded and installed your Bitbay Halo Client program. You can either wait for the client to syncronize with the network (to 100%) or go ahead and begin creating a wallet inside the client while your computer is finishing syncronizing – it doesn’t matter either way. Bitbay’s Halo Client is both a wallet and a user interface (UI) marketplace. This client is years ahead of the normal bitcoin “QT” wallet on many fronts.
- To start your first wallet in the client or add a wallet, simply click on the “File” tab at the top left of the client window.
- Then click on the “New Wallet” tab in the drop box menu. This will open up a new window that is simply asking where you want to store your 1st private key file. To better explain private keys please note the following:
- Private keys are your personal keys, each unique and in Bitbay’s client requires two to make any transactions happen.
- The Bitbay Client supports two private keys for the sake of providing maximum security to single entities and joint account entities. Think of the two private keys similar to having two locks on your front door of your house.
- These “locks” can be (but not required) encrypted with passwords, hence the terminology “multi-signature” technology. So as an analogy, in order for someone else to unlock your front door, they’d have to know where the two different locks (private keys) are located on the door as they would be hidden from site, and then they’d also need two different keys (passwords) to unlock them. (see Step 7 below)
- It is imperative that you protect your private key’s and their correlated encryption passwords! A great way to keep them safe is to keep a backup on a flash drive, DVD, or CD locked up in a safety deposit box or with family members you trust. Update regularly.
- Save your 1st private key to any location you wish on your computer or flash drive.
- The client will then pop up a window informing you: “Create your second key and store it in a different directory than the first. If you wish to create only one key, you can cancel and open a wallet with a second key later.”
- This is simply giving you the option to keep your client to a basic one key protected system if you desire.
- Clicking on the “OK” tab on this window opens a new window giving you the option to save your 2nd private key to either your computer or a flash drive.
- Your client’s wallet is now fully functional and your client’s “Overview” tab should have a receiver address posted.
- Yet for maximum security, it’s best to also encrypt your keys with passwords or passphrases as mentioned above. To do this simply click on the “File” tab at the top left of the client window.
- Click on the “Encrypt Keyfile” tab in the drop box menu.
- This will open a window stating “You can give each private key a different password if you wish. If you forget any of your passwords the wallet will be useless. This is also true if you are on a joint account. If your partner forgets their password neither of you will be able to spend from your account! You can use the same password for both keys or you can choose to protect only one. Backing up the original keys in a safety deposit box is highly recommended! If you have backed up already, make sure those files don’t contain your unencrypted keys. Think carefully before proceeding. Passphrases are superior to passwords. (Hint: A line from your favorite book with a number on the end)”.
- Click OK to proceed.
- This will open a window which is simply asking you where and what key you wish to encrypt with a password or passphrase.
- So for example find your location of key1, click on the OK tab and a new window will pop up asking for you to enter a password.
- After entering your password the client will ask you to re-enter it to make sure you typed the same password as your keystrokes will be obsured from viewing.
- Once complete, you now have your 1st private key encrypted with a password.
- In order to password encrypt the 2nd key, simply repeat steps “a” though “f” yet load up the location of the 2nd private key file from your computer or flash drive and enter a different (recommended) password or passphrase for it!
Your client’s wallet is now operational with multi-signature technology securing your money. Note: In the file locations of your private keys you should also notice that your private keys generate a “key1.share” or “key2.share” file (depending on what private key file you are in. So not only do you have two private keys that are utilized to secure your client, you also have 2 associating ‘public’ keys as well. These will be explained in detail in a later section (See Join Account Wallets).
Remember to write down your passwords somewhere safe, and make backups of your keys. Without them you will not be able to access your wallet, and no one will be able to help you.