Your Wallet is what allows you to transact with other users. It gives you complete and whole ownership of your balance and allows you to send and receive coins.
A paper wallet is a way to store globycoins that involves printing the globycoin addresses and private keys directly on a piece of paper.
A Globycoin wallet is made up of two halves. One is the public, shareable part called the public key. The other is the private part that is required for spending the stored Globycoin in that wallet. If you want to receive Globycoin into your wallet, you should provide one of your public addresses. Think of the public part of a Globycoin wallet as your email address and the private part of the Globycoin wallet as the password to that email address: you can share the email address freely, but not the password.
Step 1) Installing the Wallet The best way to store your Globycoin is using the Globycoin Desktop Wallet. See here for current wallets available and download the one you want to use.
Step 2) Encrypting the Wallet Encrypting your wallet is a great idea to prevent other people using your computer to steal your money or your wallet.dat file. Please don’t forget the encryption password. If you lose it, you can’t access your funds. Example of encrypting the wallet this is seen in this video.
Step 3) Backing up the Wallet The most important thing in cryptocurrencies is backing up your wallet data! Always keep backups in multiple places so your money is safe in case you lose access to the computer. Every time you create a new receiving address, you must backup your wallet.dat file or you risk losing your newly received funds. Backup wallet.dat (Sufficient) Make your your Globycoin wallet application is closed. Go to your Globicoin wallet folder. Copy the wallet.dat file and save it on a usb stick in a secure location. Remember: if your wallet is unencrypted and it gets stolen, your Globycoin is not safe!
You can backup the globycoin.conf file as well. You can find your wallet in the following directory:
Mac: ~/Library/Application\ Support/globycoin/
Another method for backing up your wallet is to backup your private keys as described here. It is good practice to print the private key and put it in a secure and external location. NEVER GIVE ANYONE YOUR PRIVATE KEYS.