Private key

What it may indicate

A private key gives full control over a wallet. Whoever holds the key can move the coins, regardless of who the owner is. In cases of fraud or theft the central question is often who had or gained access to the key. The loss or handover of a private key is therefore a crucial moment in many cases.

What is a private key?

A private key is a secret code used to sign transactions from your wallet. It is comparable to the key to a safe: without it no one can get in, but anyone who copies it has as much power as you do. A private key should always remain secret and must never be shared with anyone.

What is the difference between a private key and a seed phrase?

A seed phrase is a series of words from which your private keys can be derived and restored. The private key itself signs the individual transactions. Both must stay secret, because either one lets someone move your coins.