Cryptocurrency wallets and private key

[Bookwormlux]

Once you are familiar with cryptocurrency wallets , you should also know that private key or seed phrase are the most important aspect of cryptocurrency wallets.

Just as one can't open his door with the key to the door , so it is with cryptocurrency wallet.
The private keys are the only way one can access his wallet , especially when installing a new wallet .

This is why it is important for us to write our private key on a sheet of paper ,where only us can access .

Saving Private keys as screenshot is not quite encouraged ,as it will put the wallet in danger of being hacked by apps that have access to our gallery .

Thanks for this enlightenment, the other day I was trying to sign up on trust wallet and was thinking it would make me submit my bio-data, but I was given a private key instead. I will try my best to safeguard it from any loss or hack.

 

[Sarfraz Ali123]

The issues surrounding private keys and addresses are rather innate and stem straight from the design of the platform. Since the first blockchain was released, newer blockchain networks have posited their own solutions to these issues. Fortunately enough, at Ethos we also have been working to solve these issues with the release of the Ethos Universal Wallet.

 

[Josemendez]

As you said you can't open a closed door without a key, do you need key to open a door. Those Wallet key is for the security of the wallet itself. Incase you lost your wallet, you can use those keys to retrieve them back. The main function of those keys is for protection of your coins

This is exactly what I pointed out , when I talked about opening a close door without a key , I was only stressing the need for people to understand that their private keys are of outmost importance . One do not need it for transaction but basically for security of the wallet
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As you said you can't open a closed door without a key, do you need key to open a door. Those Wallet key is for the security of the wallet itself. Incase you lost your wallet, you can use those keys to retrieve them back. The main function of those keys is for protection of your coins

This is exactly what I pointed out , when I talked about opening a close door without a key , I was only stressing the need for people to understand that their private keys are of outmost importance . One do not need it for transaction but basically for security of the wallet

 

[IamDozzy]

It's very much advisable to write your private key out on a piece of paper instead of saving it as a screenshot on our phones. Our phones might be hacked or stolen and this would become bothersome.

 

[redpogi16]

Yes when choosing a best wallet for your crypto currencies assets you should consider the security of your wallet. When you are choosing wallet you should consider picking wallet with two factor authentication and using seed phrase as security protection.

 

[Joseph555]

I don't think any site or app can hack my gallery, is that even possible. I have granted a lot of site and app access to my gallery but I don't know if they do have access to snatch anything from my gallery without my concept.

I always screenshot my private key and I think it is save that way cos I do try to also save it on my Google drive.

I don't think anything will happen to our wallet the government could not be so careless to that extent if they try that is to say there will be another massive protest in Nigeria the government is so clueless and lack human sympathy drop down all the crypto wallet
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I don't think any site or app can hack my gallery, is that even possible. I have granted a lot of site and app access to my gallery but I don't know if they do have access to snatch anything from my gallery without my concept.

I always screenshot my private key and I think it is save that way cos I do try to also save it on my Google drive.

I don't think anything will happen to our wallet the government could not be so careless to that extent if they try that is to say there will be another massive protest in Nigeria the government is so clueless and lack human sympathy drop down all the crypto wallet

 

[OderuMiracle]

Ones you are a master guru in crytro currency you should know all this. And there are so fantastic

 

[Profwriter]

The wallet keys and seed phrases are extra security measures taken to avoid loss of your investment by a third party. Money can be very tempting and that it is why it cannot be carelessly exposed to people, it must be hidden and stored in a secured system that is inaccessible to third parties.

 

[Herzhan]

This is exactly what I pointed out , when I talked about opening a close door without a key , I was only stressing the need for people to understand that their private keys are of outmost importance . One do not need it for transaction but basically for security of the wallet
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This is exactly what I pointed out , when I talked about opening a close door without a key , I was only stressing the need for people to understand that their private keys are of outmost importance . One do not need it for transaction but basically for security of the wallet

Yes, it's mainly for the security. You know this world we are, theft and other bad things involves so it's advisable to keep your wallet key incase you lost your wallet address.
Your wallet address key will give you chance to open your wallet again or recover your coins again.

 

[Samuel77]

according to my own point of view, I don't think it is possible for someone to forget his own password or his own private keys only someone with shorts memories can easily forget his own private keys. but it is very possible for you to write it down and keep it safe somewhere.

 

[Onachukwu]

A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent. Every Bitcoin wallet contains one or more private keys, which are saved in the wallet file. The private keys are mathematically related to all Bitcoin addresses generated for the wallet.

 

[Irfan Aslam]

Simply put, you can thought of the combination as an email or a bank register, your name or email address and your password are the personal key. You will, however, need your personal key if you want to send the coins into another wallet in your bag. The email address is the point of comparison for email users on the email network to send mail to and the authentication allows you full access to account privileges

 

[abubakar3141]

Only one wallet address can be used to transact in such wallets, so it's safe to share them with other people to transfer to your wallet. On the other hand, your private key is a combination of numbers and letters that allows you to access your wallet.

 

[Sotherefore]

You will not be able to get such crypto walletin an online wallet although there are some online wallet with the private key in words and combinations of letters and science and those are the most trusted wallets you can actually find online

 

[Olagunju Opeyemi]

Regarding keys, there was a programmer (recently) that lost his wallet keys in a hard drive, those keys would give him access to almost 207 Bitcoins that are almost worth 240 million dollars, he still didn't have access to them
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Simply put, you can thought of the combination as an email or a bank register, your name or email address and your password are the personal key. You will, however, need your personal key if you want to send the coins into another wallet in your bag. The email address is the point of comparison for email users on the email network to send mail to and the authentication allows you full access to account privileges

 

[Blessedsam60]

Thanks for the he information. Private keys are very crucial security when it comes to crytocurrency safety. No one can access your coin without knowing about your private keys. They are like the secret password of your wallets..

 

[Olagunju Opeyemi]

Only one wallet address can be used to transact in such wallets, so it's safe to share them with other people to transfer to your wallet. On the other hand, your private key is a combination of numbers and lettersthat allows you to access your wallet.

 

[Dowenship]

Once you are familiar with cryptocurrency wallets , you should also know that private key or seed phrase are the most important aspect of cryptocurrency wallets.

Just as one can't open his door with the key to the door , so it is with cryptocurrency wallet.
The private keys are the only way one can access his wallet , especially when installing a new wallet .

This is why it is important for us to write our private key on a sheet of paper ,where only us can access .

Saving Private keys as screenshot is not quite encouraged ,as it will put the wallet in danger of being hacked by apps that have access to our gallery .

Although its a good way of securing our wallet but not the safest method by writing our private key on a sheet of paper, you can again back it up into your drive if possible.

 

[Josemendez]

Although its a good way of securing our wallet but not the safest method by writing our private key on a sheet of paper, you can again back it up into your drive if possible.

Yeah but most times drive can easily be stolen or you may forget you have your private keys there and lend it out to someone who may use it against you

 

[Queentener]

Once you are familiar with cryptocurrency wallets , you should also know that private key or seed phrase are the most important aspect of cryptocurrency wallets.

Just as one can't open his door with the key to the door , so it is with cryptocurrency wallet.
The private keys are the only way one can access his wallet , especially when installing a new wallet .

This is why it is important for us to write our private key on a sheet of paper ,where only us can access .

Saving Private keys as screenshot is not quite encouraged ,as it will put the wallet in danger of being hacked by apps that have access to our gallery .

I support you, the seed phrase is very delicate and very important so it should be kept very well I usually advice people to save it to cloud in case where the phone get stolen you will still have your seed phrase.