NOT YOUR KEYS NOT YOUR COINS
A Bitcoin Public Key (Address): 1PZ1pjc66fjbGCHp3L97XBn6Kk8mS5qz7B
The Private Key of the Public Key: L2ucPAPEaioYLnCTjZjR1Czz3iw3NAMZ1Gnt3veMGvUHWLP3m5yG
PUBLIC & PRIVATE KEYS
-
Coins are stored on Addresses, these are called Public Keys
-
Each Public Key (Address) has a Unique Private Key
-
The Private Key ALWAYS gives access to the coins stored on a Public Key
-
Private Keys can be Exported in Wallets
-
Private Keys can be Imported in Wallets
-
Coins can be sent to Paper Wallets (a piece of paper)
EXCHANGES ARE NOT SAFE
-
Coins on a Centralized Exchange belong to the Exchange, they are NOT your coins as you do NOT have the Private Keys
-
If the Exchange gets Hacked or Disappears tomorrow you LOSE your coins!
-
An Exchange can Block access to your Account at anytime
-
Always take your coins Offline by sending them to Public Keys to which you have the Private Keys
EACH TUTORIAL BUNDLE COVERS:
-
Setup, Backup & Recovery of Wallets
-
Generating Hack Proof Addresses (Public Keys)
-
Exporting / Importing Private Keys
-
Creating Paper Wallets
-
Performing Transactions
-
Following the Transactions on the Blockchain