Open the Core wallet and in the toolbar click “Settings > Encrypt Wallet”
You’ll be presented with a small input for a password. This password will be used to unlock your wallet for staking and sending coins. If you lose the password you will lose access to your coins.
Likewise if someone gains access to your wallet or wallet.dat, and knows or guesses your password they will be able to use/send your coins.
With this in mind it is very important to have both a strong, secure password and not forget/lose this password. We recommend using a password manager like Last Pass to generate a secure random password of at least 16 characters and storing it in multiple formats and secure physical locations.
Once you’ve saved/stored your password somewhere, carefully enter it into the input and click okay.
Your wallet will then encrypt and request to shutdown.
The next step is to back up the wallet.dat file which holds all your wallet information. If something happens, such as a house fire or hardware failure, if you have a back up of your wallet you will be able to regain access to your coins.
The wallet.dat file is located in your NavCoin data directory. You can find this using the guide How to find the NavCoin data folder.
Copy the wallet.dat file to other secure locations so your coins will be safe in the event of accidental loss, corruption or theft.
Make sure you back up the wallet.dat file after encrypting otherwise the file you save will not be protected by your password.