Should I be backing up my wallet everytime I get a payout, or is backing up my wallet only once enough. What I mean is, if I where to lose my phone and then restore my wallet, would it restore the last balance I backed up or the last balance I had before I lost my phone? Thanks.
It doesn't work like a normal "backup". All you are doing is copying another encrypted(I hope to dear god you encrypted your wallet file) private key for your public key. Make a lot of copies, basically it's like getting your key to open your vault. The blockchain records X amound of BTC has been send to Y public address. That encryped private key allows you to send them from that address to another.