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Note: The below instructions are the LBRYCrd Full Blockchain wallet and not the default wallet that ships with the LBRY App. We are still working on an encryption solution for this.
You can use lbrycrd-cli encryptwallet <passphrase> to encrypt your wallet.
You can use lbrycrd-cli walletpassphrase <passphrase> <timeout> to temporarily unlock the wallet. The parameter is in seconds.
For example, lbrycrd-cli walletpassphrase 'open sesame 321' 300 would unlock your wallet for five minutes, assuming your passphrase was open sesame 321. (In reality, you should choose a harder-to-guess passphrase than that.)
If you set too low, it might expire before you get done using your wallet. If you set it too high, you might forget that you left your wallet unlocked.