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The difference between private key and a public key

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Be careful not to share your wallet password or security key, or you will lose your balance if someone uses the security key to access your wallet.

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I think that in 2020 it is pretty stupid to access your wallet with cryptocurrency only with private key, there are so many much more secure ways to access it, however I am still using private key as I don't keep crypto a lot.

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The difference is very simple Paypal is the password for your wallet, and it should never be shared As for the address, it is the receive and send symbol for the wallet and is used when transferring cryptocurrencies from a platform to a wallet or vice versa.

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I am understand now the difference. I am very thanks for this explain I could not understood before about this and it is to me know that the private key is the key to my house that I am unlock the door and do what we are do in a house and the public key is the address that my house is held and where I am receive the mail. Thank you very much for make me understood of this very critic subject.

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Thank you so much for this post. This is completely new for me. I have just started the journey of using electronic wallets. Now I understand that there are two types of keys, that is the private key as well as the public key. These keys can be used for private as well as public transactions of the user. Looking forward to such more informative posts.

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I am a beginner in this forum and does not know much about the crypto wallets but this information about the keys will help me to keep my wallet safe from intruders

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Well in my comprehension with that is just that the private key is you are the one and only one or their is explicit client and the general population is a ton utilized it. At any rate much obliged for the data

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this piece of information is new to me, I did not know about public key or private key. Thank you for making this clear to me. Now when I venture into investing a cryptocurrency I will know about these things. Very useful.

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This is a good explanation about keys. The more scientific makes it difficult to learn so it is better to remember that the private key is the address of our wallets which we give to others and the private key is the key that unlocks the wallet and allows us to use the cryptocurrencies. We dont give the private key.

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I am not exactly sure what a private key is,  because it has many difficulties to find how it is created and it is not for everyone to know. I hope to learn a lot of parts I skipped and not be completely clueless on the technical section of cryptocurrencies but I've learned a lot about investing and finding the best yield and interests with DeFi.

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Yes, this is absolutely true. The difference is big between the public key of the wallet and the private key. Any user of encryption should not share the private key with anyone because if he loses this key or enables the hacker to access it, they will steal your money in the wallet, while the key is  It is a wallet address, and you can share it with anyone without risk

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As the name suggests, Public Key can be publicly displayed to other people. Getting into more details, The public key is comprised of a string of random numbers and can be used to encrypt a message, which only the intended recipient can decipher and read by using the associated private key. Whereas, the Private Key is a secret key, and must remain known only to the recipient or the owner.

 

Difference Between Public Keys and Private Keys:

In public key cryptography, an encryption key (which could be the public or private key) is used to encrypt a plain text message and convert it into an encoded format known as cipher text. Then the other key is used as a decryption key to decrypt this cipher text so that the recipient can read the original message. In short, the main difference between a public key vs private key is that one encrypts while the other decrypts.

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Really, a clarification that everyone should know, and beware of this step, spread the private number for everyone
Thank you for the feedback

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First of all thank you very much for this information and I would like to add one more thing that you should keep your private key in some other place also rather than your own gadget because sometime you might loose you mobile or tablet somewhere.

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The private key is that which is use by the user only it will not share with anyone else if you share your private key with anyone then you will loss all your money and the public key is that when you make deposit and withdraw you can use this at that time so you can't loss your money so keep remembering these things so that will help you..

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15 hours ago, pacific said:

Whereas, the Private Key is a secret key, and must remain known only to the recipient or the owner.

At least this is good explanation for simple and easy come comprehension.

I would like to emphasize on private keys, they're not meant to be share with anyone, as it's the access to your account and either wallets.

For more clarification on significant of private keys this post goes beyond in itemizing the most vital reasons.

 

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You have explained the differences in a good way that anyone can understand and this is where we begin with cryptocurrencies. We have to know the basics and this is the most important of them, what are private and what are public keys and how we use them. Very important not to ever mistake them and send our private key to someone because in most cases is will mean that our wallet will be emptied.

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Thank you brother for giving a valuable topic which I was not aware about it also would help many of the new members to this forum, private key and public key on this topic I had to concentrate more to get more knowledge.

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Thanks for giving this valuable information to all the members of this forum . Actually  ,  You are very right.  Public key and private key both are very important .  Mainly  ,  Private key is most important as we have to make transaction through private key. 

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The difference between a public and a private key is really simple as I have an order in which I explain it to people for them to understand. 

 

Take your wallet or Bitcoin wallet to be any mobile wallet app where you send and receive money let's say PayPal. 

 

In PayPal, you have your password and your email where you login in with your password and email , in relation to crypto the email is your public key and the password is your private key. 

 

How?? 

 

In a case where you are receiving money from someone , you send them the email to send you the money and in logging into your account you need the password which is your private key. With that being said, the private key is used to have access to one's wallet and with that anyone can get into your wallet so it is not advisable to share it with someone and on the other hand the public key is what we mostly call the wallet address and it is also used to receive funds from others. 

 

NB : When you lose or forget  your public key , you can get it back and it is not even advisable to memorize it but if you lose your private key , you can never get it back again. 

 

Hope this could be of help?

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I have to thank you for explaining the difference between public and private key. I will be forever grateful for letting me know this question taht I had after hearing this for the first time. I remember they said do not put your private key anywhere but be careful about it but I did not know as they didn't explain. But now i know and have to thank you for this!

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A private key (also known as a private key) is a 256-bit digit encoded in various formats. Visually, it looks like a set of letters and numbers. The same private key looks different in different formats.

 

The public key is a unique address used in the blockchain. It is available to all network members. The public key consists of a specific set of letters and numbers generated from the private key. It is used to identify the user. To receive a cryptocurrency transfer, you must provide a public key to the sender.

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Private key is a key which you cannot share with everyone. Its your personal key. If anyone know about it then it would be harm for you. And public key is the key which you can share with many people. It has no personal things. so,we should be careful about our private key. 

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Thanks for the info. Now I understand what these terms mean. I will definitely remember this and know. Good luck with your investment.

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  Public key is the account number or address to receive transfers to your wallet. Different from the private key. It is your secret key to enter your wallet.

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    • Forex and Cryptocurrency Forecast for 03 – 07 June 2024 EUR/USD: Awaiting a Turbulent Week   Recall that Monday, 27 May was a holiday in the US. However, on Tuesday, dollar bulls took control, and the DXY Index started to rise, bolstered by a significant increase in the US Consumer Confidence Index (from 97.5 to 102.0 against a forecast of 96.0). Consequently, EUR/USD moved southward.   Pressure on the euro was also due to expectations that the European Central Bank (ECB) is likely to cut the key interest rate by 25 basis points (bps) from 4.50% to 4.25% at its meeting on 06 June. This intention was confirmed by the head of the Bank of Finland, Olli Rehn, who stated on Monday that he considered it timely to transition to dovish rhetoric in June. 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It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
    • Крупный банкир получил тюремный срок за криптомошенничество   Бывший инвестиционный банкир Рашон Рассел приговорён к 41 месяцу тюремного заключения за мошенничество с использованием цифровых активов. В результате расследования правоохранительные органы США выяснили, что обвиняемый начал опробовать свою мошенническую схему на друзьях, бывших одноклассниках и коллегах по работе в криптофонде R3 в ноябре 2020 года. Рассел обещал им гарантированную доходность инвестиций от 25% до 100%. Чтобы его слова были ещё убедительнее, он пустил в ход свой опыт инвестиционного банкира и сфабрикованные документы (поддельные счета, переводы). Сначала он использовал часть полученных обманным путём средств для выплаты долгов более ранним инвесторам. Остальные деньги Рассел тратил на азартные игры и поддержание роскошного образа жизни. Такая мошенническая схема работала до августа 2022 года. В апреле 2023 года Рашона Рассела арестовали, а в сентябре он признал свою вину. Тогда же выяснилось, что Рассел незаконно приобрёл около 100 кредитных и дебетовых банковских карт на имена других людей. По мнению следователей, он планировал использовать карты для проведения транзакций с полученными незаконным способом деньгами. Минюст США подсчитал, что потери инвесторов от мошеннической схемы Рассела составили $1,5 млн. Именно эту сумму подсудимый должен выплатить своим жертвам в качестве компенсации. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2428894
    • CryptoRank поделился списком крупнейших разлоков июня.        Будьте осторожны в отмеченные дни, ведь увеличение предложения может вызвать давление со стороны продавцов. ARB — $105.21 млн;APT — $103.03 млн;UNI — $87.93 млн;STRK — $75.67 млн;DYDX — $66.3 млн;SEI — $63.81 млн;ID — $55.82 млн;IMX — $54.96 млн;MERL — $42.21 млн;ENS — $36.65 млн.  
    • 🚀Join $20 000 000 Cryptodrop 🚀Collect points to get BFG rewards 🚀To the Moooon!    If you are interested, click here 👇
    • В Татарстане построят майнинговую ферму стоимостью $100 млн   В Иннополисе, городе высоких технологий в Республике Татарстан, реализуют майнинговый проект стоимостью $100 млн. Об этом на криптофоруме в Казани сообщил заместитель премьер-министра Татарстана Роман Шайхутдинов и заместитель министра цифрового развития, связи и массовых коммуникаций РФ Александр Шойтов.     В 2023 году Россия поднялась на второе место по майнингу криптовалют. По оценке экспертов, в майнинге может быть использовано до 5 гигаватт электрической мощности, что позволит стране занять лидирующие позиции в отрасли, — сказал Александр Шойтов.   В середине февраля компания по добыче биткоинов BitRiver также обнародовала планы по запуску крупнейшего в России дата-центра, ориентированного на искусственный интеллект.   В РФ пока нет чётких правил по контролю майнинга. В конце апреля российские законодатели представили новую версию законопроекта, направленного на регулирования рынка добычи криптовалют. По словам одного из его авторов, правила могут вступить в силу уже в сентябре этого года.
    • Линн Мартин выразила оптимизм по поводу биткойн-ETF, подчеркнув их потенциал и ресурсы, которые они уже принесли на Уолл-стрит.  Мартин, президент группы Нью-Йоркской фондовой биржи, выразила этот оптимизм на конференции Consensus 2024, когда ее спросили о запуске ETF на биткойны ( BTC ) и о потенциале, который они несут для Уолл-стрит.  «Мы ведем переговоры с SEC уже более шести лет о биткойн-ETF», — сказал Мартин в интервью . «Я думаю, вы не можете спорить с успехом биткойн-ETF и ликвидностью, которую они принесли базовому рынку».  Финансовые руководители все больше интересуются криптовалютой, либо напрямую, либо через ETF , что привело к росту цен на рынке криптовалют. По словам Мартина, одобрение спотового биткойн-ETF в январе пробудило интерес традиционных инвесторов, принеся на рынок много ликвидности.  Крипто-объединение Вашингтона и Уолл-стрит В последнее время на криптовалютных рынках и на Уолл-стрит наблюдались сильные движения цен, и во многом это можно объяснить сильным притоком средств в ETF, зарегистрированные в США. Рыночная капитализация криптовалюты превысила 1 триллион долларов с момента одобрения биткойн-ETF.  Спотовый крипто-ETF напрямую отражает цену конкретной криптовалюты и стратегически распределяет средства портфеля в эту криптовалюту. Эти средства активно торгуются на публичных биржах и отражают эффективность конкретной криптовалюты. Как и другие фонды, крипто-ETF легко доступны на стандартных фондовых биржах, и инвесторы могут хранить их на своих брокерских счетах. Недавно был одобрен спотовый ETF Ethereum , предоставляющий инвесторам регулируемый и доступный способ получить доступ к Ethereum. Могут последовать и другие спотовые крипто-ETF . Комментарии Мартин прозвучали в период крипто-оптимизма в правительстве США. На прошлой неделе Палата представителей США приняла законопроект FIT21. Законопроект разъясняет, как SEC классифицирует криптовалюту, создавая термин «цифровой товар» для цифровых активов. Законопроект направлен на искоренение мошенничества, регулирование криптовалютных бирж и защиту потребителей, одновременно создавая стабильную среду для криптовалюты — по сути, он сообщает, что криптовалюта теперь является проблемой правительства. Недавно Дональд Трамп начал получать пожертвования на предвыборную кампанию в криптовалюте, сигнализируя о более широком охвате отрасли политиками.
    • ❗️Уважаемые клиенты, Вашему вниманию курсы на начало дня❗️ Желаем вам быстрых и выгодных обменов   TONCOIN→ СБЕРБАНК РУБ - Курс обмена: 1 TON = 547.7 RUB TONCOIN→ ТИНЬКОФФ РУБ- Курс обмена: 1 TON = 559.37 RUB TONCOIN→ КАРТА МИР РУБ -Курс обмена: 1 TON = 558.63 RUB TONCOIN→VISA/MASTERCARD RUB-Курс обмена: 1 TON = 541.69 RUB
    • Основатель Binance Чанпэн Чжао прибыл в федеральную тюрьму строгого режима в Ломпоке, штат Калифорния, отбывать наказание. Если вы переживаете на счет своих средств на платформе Binance, наш обменник криптовалюты saint.exchange может помочь с выводом!
    • 01.06.2024 Тарифы Kingex 👑   Покупка криптовалюты / Buying cryptocurrency:   BTC/ETH  +1.3% (Мы доплачиваем) USDT  +1.3% (Мы доплачиваем)   ^^SALE^^ от 50k    + 1.5%    Продажа криптовалюты / Selling cryptocurrency:   BTC/ETH  +3.3%  USDT   +3.3%    Оператор: @Kingex Сайт: Kingex.io Курс на протяжении дня может меняться! ------------------------ Будьте ОСТОРОЖНЫ, появились фейки! Наш телеграм: @Kingex
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