In my earlier guide on Bitcoin wallets, I extensively used two terms: Private Address (or key) and Public Address (or key). These keys are what make Bitcoin the safest and most widely used cryptocurrency. Antonopoulos, Mastering Bitcoin: Unlocking Digital Cryptocurrencies The private key must also be backed up and protected from accidental loss, because if it’s lost it cannot be recovered and the funds secured by it are forever lost, too.” “The private key must remain secret at all times because revealing it to third parties is equivalent to giving them control over the bitcoins secured by that key. “If you don’t own your private key, you don’t own your bitcoins.”Įven the most knowledgeable man on Bitcoin says: What if you lost all of your bitcoins tomorrow? What would you do?
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