TECHNICAL CONCEPTS
Private Key
Definition
A private key is a secret cryptographic key that gives you control over your cryptocurrency. It's used to sign transactions and prove ownership of funds associated with a specific wallet address.
Example
Example
Your private key is like a digital signature - it proves you own the funds at your wallet address and allows you to send transactions.
Risks to Consider
Risks
- Complete fund loss if stolen
- Irreversible if lost
- No recovery options