Private Key
Basics
What it means
A secret cryptographic key that allows you to spend or transfer cryptocurrency from your wallet. Whoever controls the private key controls the associated cryptocurrency. Never share your private key with anyone.
Example
A Bitcoin private key looks like a long string of letters and numbers. Anyone who has this key can spend any Bitcoin in that wallet.
Mistake beginners make
Beginners sometimes store private keys in cloud storage, email, or screenshots. These are easily hacked. Private keys should be stored offline, securely, and never shared.
Related terms
- Wallet — A tool (software or hardware) that stores your cryptocurrency private keys, allowing you t…
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