I am trying to determine whether I need to back up the nem wallet after each transaction or not. Where is the information about Nem coins stored? Is it in the Wallet or on the Network?
As far as I’m aware all transactions are on the network. When you synchronise with the network, all older transactions are shown.
every transaction is stored on the NEM blockchain (and thus on the network on every device that synchronized it)
so you only have to backup your personal wallet.
if you use the nanoWallet (https://www.nem.io/install.html) you don’t even have to run and synchronize a local node on your desktop. the nanoWallet allows you to import your wallet and to connect to a specific node on the network
hello,
backup your private key somewhere securely, that way you are sure that you will always be able to access your funds even if your PC is stolen.
Your account is created on the blockchain, if you have any funds on there, it is registered on the blockchain you don’t need to re-backup your wallet each time you do something.
An exception would be the address book, where the data is stored in a file with extension .adb that you will need to export after modifications to keep a latest backup of it.
bottom line I believe the most important is to backup your private key. (in nanowallet: top right Account > right side form Private Key)
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I use the nano wallet. Every time I check the wallet after a transaction there is no change to the wallet file. I assuming then that the wallet is not being modified after transaction changes. As long as I keep the wallet file and key safe some where it seems like a constant wallet file backup is not needed like on many other coins. Thank you all for the info.