What is a Private Key, how he looks and what do I need him ?
A Private Key is your personal password for your Wallet. The password consists of a collection of letters and Numbers.
You must not forget your Private Key, otherwise, you no longer have access to your Wallet and thus, the Coins are lost irrevocably.
You can create a file and transfer it to a USB Stick or the Private Key on a piece of paper write a (Paper Wallet).
They do not generate Private Keys on the Internet, otherwise you could fall victim to scammers who have created on a website a Keygenerator, and the personal Private key store.
Alternatively, you can also create a Paper Wallet. This means that you write down print out your Private Key and is thus no longer on the Computer and he is safe from hackers.
Finally, you can save your Coins on a Hardware Wallet like Ledger Nano-S, that’s where your Coins are safe, since this is an Offline Wallet.
The only thing you need to remember is your Pin, and words in order to write you the first time you Use your Wallet in case of a loss.
If you liked this article, check out our article “What Wallet should I use?”.
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