Finance glossary
Private Key
Definition
A secret code that controls access to your cryptocurrency.
A private key is a secret cryptographic string that proves ownership and authorizes transactions from a crypto wallet. Whoever holds it controls the funds, so it must be kept secure and never shared. Lose it and the assets are gone forever, with no recovery.
In a sentence
He wrote his private key on paper and locked it away, knowing that losing it meant losing the coins forever.
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