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Private key

Definition:

In cryptography, messages are secured by a combination of public and private keys. Your crypto private key is a randomly generated string of letters and numbers, or sometimes in the form of a 12/24 word seed phrase, that acts as a password to your crypto wallet. It is used in a cryptocurrency transaction for proof of ownership. There is never a valid reason to share your private key or seed phrase with anybody. It should be defended at all costs because with your private key, anybody can take all your funds.

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“If you lose your private key, you lose your Bitcoin. Never share it with anyone.”

Related Terms:

Dictionary: Key
Like a physical key, your crypto key provides access to your crypto wallets. In cryptography, messages are secured by a combination of public and private keys. Appearing as a large string of numbers, the private key is the password to everything and if it gets leaked, you’re in strife. Don’t store this on any physical device.
Dictionary: Public Key
In cryptography, messages are secured by a combination of public and private keys. Your public key is the address of your crypto wallet. You can share this and other users can send crypto to your public key, without gaining control of the account. To gain control, the private key is needed as well.

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