Greater Fool glossary / Crypto & Digital Assets

private key

A private key is a secret code that proves you own your cryptocurrency and allows you to move it or spend it. It should never be shared with anyone, as anyone who learns your private key can take control of your coins.

In practice

Your private key might look like a long string of random letters and numbers, such as 5KN7MzqK92wTw2BQwvKx4z8xY9pL2qM3nO4rS5tU6vW7xY8z. If you lose this key, you lose access to your coins forever. If someone else gets it, they can steal your coins.

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