Internet
private key
What does private key mean?
The cryptographic secret that authorises transactions from a wallet; whoever holds it controls the assets, hence 'not your keys, not your coins'.
"Lose the private key and the funds are gone forever."
Origin
Public-key cryptography term, foundational to crypto self-custody.
Frequently asked questions
What is a private key in crypto?
It's the secret string of characters that proves ownership of a wallet and authorises transactions from it. Anyone who has it can spend the funds.
What's the difference between a private key and a seed phrase?
A seed phrase is a human-readable backup that can regenerate your private keys, while a private key directly unlocks a specific wallet address. Both must be kept secret.
What happens if you lose your private key?
The funds become permanently inaccessible — there is no reset or recovery, which is the trade-off of self-custody.
Why do people say 'not your keys, not your coins'?
Because if a third party like an exchange holds the private key, they control your funds — only holding the key yourself gives you true ownership.
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