What is a private key?
The secret number that authorises spending from a crypto address. Whoever knows it controls the funds.
A private key mathematically produces a public address. Signing a transaction with the key proves you are entitled to move the funds, without revealing the key. There is no issuer to appeal to: the key is the ownership.
Why it matters: this is the part of crypto most likely to cost you everything. Keys cannot be reset. If someone else obtains yours they can empty the address immediately and irreversibly, and if you lose yours the funds are gone permanently. Never enter a private key or seed phrase into a website, and treat anyone who asks for it as an attacker.
Related terms
- Max supplyThe largest number of units of an asset that will ever exist, where the…
- Order bookThe live list of buy and sell orders for an asset on an exchange,…
- Seed phraseA list of ordinary words, usually twelve or twenty-four, that encodes every private key…
- SlippageThe difference between the price you expected to trade at and the price you…
- VolatilityHow much and how quickly an asset's price moves, in either direction.
- Self-custodyHolding your own crypto directly, controlling the private keys yourself, rather than leaving it…
Crypto assets are volatile and high-risk. Prices shown are indicative and may be delayed. Always do your own research. Coinpric does not provide financial advice.