At its most basic level stellarport wallet is comprised of two keys:
- A public key (wallet address) which is used as your email for money. If someone wants to send you money, you give them your wallet address and then send you your money to that address (like email). The public key is not sensitive at all. Feel free to expose it and give it out to other people.
- A secret key which is how you access the money in your wallet (like your email account's password). A secret key is highly sensitive. If somebody else gains access to your wallet's secret key, they can drain it of all funds.
Essentially, your job in order to be secure is to protect your secret key from:
- loss - losing your secret key will render you wallet unrecoverable
- theft - having your secret key stolen could cause complete loss of funds
Stellarport offers different wallet types (with different levels of complexity). Good security practices differ depending on your wallet type:
- Keystore Wallet File - This file contains your wallet's secret key encrypted with a password of your chose. To prevent theft of your secret key, you should choose a strong password (use capital letters, numbers and symbols like #*& etc. and avoid exposing your keystore wallet's password. To prevent the loss of your secret key, be sure to back up your keystore wallet file in cloud file storage (google drive, dropbox, onedrive etc.) and be sure to back up your password too (as we don't store it at Stellarport).
- Raw Keypair - This option has you managing your secret key directly. Be sure to store it in multiple places safely so that it cannot be lost or stolen.
- Ledger HW - This option allows you to use your Ledger device to operate your wallet. Your device contains your wallet's secret key inside of it. The secret key can never leave the device so you don't need to worry about getting hacked. Be sure to read the descriptions of all transactions prior to signing (so you can be sure that your secret key is only being used for the transactions you mean to use it for) and be sure to store your ledger device's mnemonic key securely.