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I'm using a Linux VM on AWS and followed this guide: https://developers.cardano.org/docs/get-started/installing-cardano-node to install everything. What's the best way to go about updating the node and cli while preserving the wallets I've created?

Thanks, Myles

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Coincashew's guides are super helpful, especially this one on how to update a stake pool.

In short, you can either download the cardano-cli binaries directly, or build the new release from source in the same git directory as you built in the first time. Just make sure to rename the builds accordingly, and when you are done building, sudo cp the binaries into the user's bin directory; replacing the old binaries with the new ones.

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Your wallets have nothing to do with your cardano-node instances or binaries on a machine. Having the wallet keys on a linux instance on AWS that is running cardano-node (and I assume has a public IP address) is from start a bad idea. Your keys should stay only on a computer where only you have access, in your home, and also as encrypted backups on USB sticks, for example.

Returning to your original question: the normal way of updating cardano-node and cardano-cli is to get the new binaries (you compile them from sources or you download the binaries provided by IOG - links on the releases page on Github), replace the existing binaries on your linux VM and restarting the cardano-node service. Sometimes there also changes to the config files, so it is always a good idea to check the release notes to see if you need to update the config files.

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