How to save cryptocurrencies Thanks to blokchain, you have three possible ways to store your purchases:. Buy cryptocurrencies on an exchange and leave them there First of all, what you will probably do is open an account and buy your first cryptocurrencies on an exchange such as Binance. Imagine that you buy 1 Bitcoin on Binance and leave it there. That would be the closest thing in the real world to having the money in a bank. But you will have to keep in mind that in the event that Binance is hacked it is likely that your Bitcoin will be stolen.
The worst thing will be that you will not be able to do anything to avoid it and you will not be able to get it back unless the good faith of the exchange agrees to return your money. Buy cryptocurrencies and take them to a wallet or "software" wallet That would be the second option, a little more "pro".
Once you have bought your Bitcoin in Binance, the ideal would be to send said Bitcoin to your personal wallet. This wallet really is like a wallet that only you can access with your private key. That could be your Bitcoin address on that wallet. When you want to send the Bitcoin purchased in Binance, for example, to your wallet you have to send it to that address from Bitcoin to Bitcoin or from the same cryptocurrency to the same cryptocurrency.
In addition, it depends on which wallet you use, the operation may vary. As for example, in Myetherwallet you must enter this private key which you can enter in various ways in a computer wallet such as Exodus, you do not need it to access. With Exodus you have a password to open the wallet which would be like the password for the usual online banking and, from there you can operate.
But still in Exodus you have the option of exporting the private key of each currency that you store there. It is important to have private keys or seed phrases, if you have a wallet on your phone or laptop because you are never exempt from having your belongings stolen and it is necessary to restore them again and conserve your money. I usually also write them down on paper and keep them well stored. Free BTC 1 Satoshi every day.
In truth, wallets need some other protection. I already had a negative experience of losing access to the wallet due to an application error and the inability to keep a Private key for myself. And named with the NeoLine application. Be extremely careful with it. Better never use it. To get the private keys. Continuously give the 2fa code. There are special commands for a terminal of your coin. These are something like dumpprivkey [wallet] and importprivkey [wallet] to import.
Or you can contact me. Well, seeing from a more general point of view, almost all wallets have some level of risk, some more than others, if you say the reasons why you do not trust there may be more security with stop using it. I can benefit a lot by investing a little in crypto. You can post now and register later. If you have an account, sign in now to post with your account. Paste as plain text instead.
Only 75 emoji are allowed. Display as a link instead. Clear editor. Upload or insert images from URL. By krueger Started March 11, Assange Started September 25, By dotsbik Started November 6, By StaffMan Started October By crockez Started July 7. Search In. Payment Update. Sign in to follow this Followers How can you reach your private keys in your cryptowallet? Reply to this topic Start new topic. Recommended Posts. BrolySSJ Posted March 23, Share this post Link to post Share on other sites.
Saj Posted April 21, Posted May 8, You can get your private Key after logging easily In your wallet and you can easily Using it to work in your wallet Thanks for your spotlight my friend. Zaino34 0. Whited35 Posted May 14, IamLeader12 George10 Posted May 15, BTC Future I tried and reach success with my Enjin wallet. It may not be safe anymore. Thekingcallme Posted May 19, Calvinpriva Posted May 20, Rosarvx Can someone explain the difference between private key secret number and seed phrase a set of words?
In other words it is your recovery phrase, if you forget your password and you cannot enter it is the way to recover your mkonbedas, you put your phrase of 12 or 24 words that they give you at the beginning of creating the portfolio and you will be able to enter and restore the password.
I think it is not only about forgetting or making mistakes. The seed phrase can help people who want to format their PCs or re-install their Windows. Desktop wallets like Electrum for Bitcoin are installed on your PC and I think you need your seed phrase to make them working again after updating your Windows. However, private keys are only used for spending your coins during transactions and they have nothing to do with password recovery. The private key is created by you, instead the seed is offered to you by the blockchain or the wallet that you are going to use to use your btc, for something it throws you those different words that form a key.
The private key can be the credentials to access our account, the code that we use to process a cryptocurrency shipping operation also counts as a private key, the latter is not always used but some exchanges for security reasons ask for it. The seed is basically a set of words that in case of losing our cell phone or our computer we can recover our account on another cell phone or computer. Seed phrase are always 12 letter words, they can only backup funds on blockchain, if a third party discovers your seed phrase, the person can easily gain access to your saved coins, it is not advisable that we type our seed phrase on any untrusted website or links.
Seed phrase saves all the appropriate datas and informations required to recover our funds. While in terms of private keys, it is irrecoverable once it is lost, private keys are used to make non-reversible transactions, private keys are generated according to the kind of wallet we are using.
Private keys allows us to have access to our wallet and it protects our wallet from fraudsters. Liliz If attackers have access to your private key, they will be able to steal your coin. It is just for unlocking coin from blockchain where it is stored. Seed phrase and privet keys are almost same. Seed phrase is the back up of wallet. It mention 12,15 or 24 words. If its used in wallet remebered amd do not share any one then its impossible to lose wallet.
The privet keys is also like that but after open the wallet need strong security system. For set privet keys need letter or numbers. The private key is the one that allows the total ownership and management of our crypto coin purses, while the seed phrases are the ones that allow us to recover our assets in case of failure of our pc or the breakdown, theft or loss of our smartphone.
Both are not same private key you tell not anyone. It is personal for you. And the seed key for high security if assets stored in the wallet. I use se wallet where use private key. Both are essentially random numbers. But they are used in different ways. A seed is used to generate a series of private keys using an algorithm step by step repeatable process.
So in that case the keys are not random but "determined" by the seed and processing steps. Hence, why those wallets are called "deterministic". Either way, you end up with private keys random or deterministic which is the math basis for how your btc are secured.
I think private key is the key thats if someone get it can have access to your account, I guess this private key can be compressed as API keys, but recovery phrase is used to restore your wallet within new IP address. The difference between private keys and seed phrases which I understood is that the private keys allow you to login your wallet account in mobile or computer and seed phrases allow you to make your transaction.
Seed phrase and private keys both perform very important functions. Three terms are used in cryptocurrency public key, private key and seed phrase. But public key are the number and letters while the private key is secrets letters which required the security while seed phrase work when your account having some problems.
You can post now and register later. If you have an account, sign in now to post with your account. Paste as plain text instead. Only 75 emoji are allowed. Display as a link instead. Clear editor. Upload or insert images from URL. By krueger Started March 11, Assange Started September 25, By dotsbik Started November 6, By StaffMan Started October By crockez Started July 7. Search In. Are they the same? Payment Update. Sign in to follow this Followers What is the difference between Private Key and Seed Phrase?
Reply to this topic Start new topic. Recommended Posts. Posted June 1, Share this post Link to post Share on other sites. Yomose Raqeebzy Posted June 6, Zaino34 0. Posted June 8, Jessica Karren Honny Treat 0. Posted June 14, When we discuss about BTC wallets, there are 3 terms that come to mind first. Posted October 4, BrushlessKV Posted October 5, Posted October 10,
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