What are Private Keys and Addresses?


Private Keys and Addresses are the foundation of every cryptocurrency network.

Addresses are unique alphanumeric characters that represent payment destinations.

Every address has a private key associated with it that gives the keyholder transaction rights.

Your private keys are like using a bank login to access money.

Private keys can sign transactions which are like digital checks that are processed by the network.

If someone gets your private key, they will have full access to your funds, so be careful with it!

Giving someone your address, sometimes referred to as your public key, is safe because it tells others where to send you money. Then your private key allows for access to funds.

Since private keys provide complete control over an address, cryptocurrency networks allow you to take control over your assets, opening up new possibilities for an open and fair economy.