Wallet: Beginner questions


#1

I was wondering if you could help answer some of my questions.


So I downloaded and install the Swing desktop wallet.

  • Since the Swing Wallet download the blockchain onto the computer, does it mean that my computer will be spending more computer resources (cpu, memory, electricity) to process and manage this blockchain?

  • Topology wise, I can install the swing wallet independent of my mining right? Say, I have three computers. Miner_1, Miner_2, Wallet_1. Miner_1 and Miner_2 would be submitting work to the mining pool. Then I would tell the mining pool to deposit the coin into my wallet which is located on Wallet_1 computer. Would this work?

  • Security wise. If there are some issue, it would be possible for a hacker to hack into the computer which holds the wallet information and steal my coin. Does it make sense, and is it a standard practice to have more than one desktop wallets? That way, all of your coins won’t be lost if a wallet is stolen.

  • Firewall rule. Do I need to open up any ports so that mining pool can deposit coins into my wallet hosted on Wallet_1 computer?

  • For the Swing Wallet, how do I backup, which file do I need to back up, and how do I test my backup?

  • Say I have been mining for three months, I got a few coins in my wallet, how difficult is it to transfer these funds to an exchange. How difficult is it to transfer these funds to another wallet such as a paper wallet?

  • What is on a paper wallet? It it just a printed piece of paper with your private key and a qr code?

  • Is it ok if I laminate this paper wallet?

Thanks.


#2

I can answer this one
you need to find the exchange like Coinbase/Gdax to see if they have such coin
then you transfer your coin from the first wallet to the wallet address in the exchange.
then you are able to sell.