If you are into crypto and have been investing and you own a crypto wallet - you probably have a private key. But, what are they? So here's what I learned about private keys.
A private key, like a real key, unlocks your cryptocurrency for you to spend. Keeping your private key and access to it safe is the most important part of your overall security.
- Binance academy
Private keys are unique to everyone - yes, no one got the same private key. Here's one example from Binance academy to make it more easy to imagine:
The key is just a really long number – so large that it would be impossible for anyone to guess. If you flip a coin 256 times and write down "1" for heads, "0" for tails, you'll end up with a private key.
Remember that example above, now if another person does the same thing as to flip coin and write down the numbers he/she gets it would be almost impossible for both of you to get the exact same numbers in the same order. That is how it works. So only you know your private key and only you have a copy of it unless, you deliberately go around and tell everyone about it THAT YOU SHOULDN'T DO - IT IS LIKE GIVING EVERYONE A COPY OF YOUR HOUSE KEY.
