Hi. Im new to the whole cryptocurrency stuff . i had a question. Im going to buy some ripple and i want to store it on rippex. What I don't understand with desktop wallets is what i do if i ever decide to reformat my hard drive.
After you've installed Rippex, the most important step of the entire wallet creation process is when Rippex displays your password, Ripple wallet address, and your Secret Key. This information needs to be store somewhere private and safe, because access to this information will provide full access to your Ripple wallet. And if one day, you reformat your hard drive, or your computer gets lost or stolen... all you have to do is install Rippex on the new system, and you'll be able to access your Ripple (XRP) by simply using the info (password, wallet, secret) that you've stored away. Again, it's very important to safeguard and protect this information, I cannot stress that enough. Here's a screenshot of that step during the Rippex wallet setup:
When I setup my Rippex wallet, I took the password, wallet address, and secret key and turned them into a PDF. I password protected the PDF with strong encryption, and emailed the PDF to myself. Using Adobe Acrobat to encrypt and password-protect a PDF is a solid security option. And from anywhere, at any time, all I need to do is gain access to my PDF and use the password I remember to open the PDF. And from there, I'll have immediate access to my password, wallet address, and secret key to use as needed.
Hope that helps. If you have any more questions about the process, or cryptocurrencies in general, please post up and I'm happy to assist.