Private Key Intermediate
A private key is the secret that controls a wallet and signs off on its transactions.
Whoever holds it controls the money, so it has to stay secret and be backed up carefully. Lose it and the funds are usually gone for good; leak it and they can be stolen.
This definition is educational and not financial advice. Crypto is volatile and high-risk — always do your own research.
Related terms
Beginner
All terms →
NFT
An NFT (non-fungible token) is a one-of-a-kind blockchain token used to represent ownership of a specific item, like a piece of art.
IntermediateSmart Contract
A smart contract is code stored on a blockchain that runs by itself once its conditions are met.
BeginnerStablecoin
A stablecoin is a crypto token built to hold a steady value, most often pegged to the US dollar.