Home cryptocurency bitcoin Bitcoin: See Why Keeping your Private Key secret or hidden is important

Bitcoin: See Why Keeping your Private Key secret or hidden is important

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btc wallet key
Private keys

If you are a Crypto Investor, then Private Key and Public Key shouldn’t be new to you.

However, why is it important to keep it safe or to keep it a Secret?

Well, the Ownership of your private keys gives you total control over the funds associated with your corresponding public keys.

Hence it becomes very vital to make sure you keep your private keys secretly hidden so that ONLY YOU know your private keys.

It is dangerous for someone else to gets hold of your private keys, they will have control over your coins.

And in addition It is also equally important to have a back-up of your private keys, so as to protect yourself from accidental loss.

This is also so because If you can’t recover your lost private keys, all your funds would be lost.

Now you’ve seen the importance of keeping your private keys hidden and also having a back up of it.

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2 COMMENTS

  1. Price variances in the Bitcoin spot price on the Bitcoin trading exchanges is driven by many reasons. Volatility is assessed in classic markets by the Volatility Index, also called the CBOE Volatility Index (VIX). Volatility in Bitcoin does not yet possess a completely accepted index since cryptocurrency as a real asset class is still in its beginning stages, but we do understand that Bitcoin is able of volatility in the form of 10x adjustments in price compared to the US dollar, in a fairly short period of time. In this article are just a handful of the various factors in back of Bitcoin's volatility: https://www.cryptocurrency.lu

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