Hey @Realbitcoin
Cheers for the reply. Like I said I am a complete beginner when it comes to crypto currencies.
All I know is fiat is worthless crap so gold silver and Crypto is the place to be.
I am trying to understand everything, I am getting there VERY slowly! haha.
Can somebody explain what exactly is a private key? I have read the wiki page and stuff and it does not really make sense to me
Can somebody give it to me in plain easy to understand english in terms of how it works? How do I "hold the keys"
Cheers for the advice once again and I will use different wallets for each crypto
Cheers for the reply. Like I said I am a complete beginner when it comes to crypto currencies.
All I know is fiat is worthless crap so gold silver and Crypto is the place to be.
I am trying to understand everything, I am getting there VERY slowly! haha.
Can somebody explain what exactly is a private key? I have read the wiki page and stuff and it does not really make sense to me
Can somebody give it to me in plain easy to understand english in terms of how it works? How do I "hold the keys"
Cheers for the advice once again and I will use different wallets for each crypto
A bitcoin address holds the bitcoins.
The bitcoin address is uniquely derived from the private key.
The private key is like a secret digital key that anyone who know about, can move the bitcoins on that particular address.
So it's a secret. The only way to ensure that only you have control over your coins ,is by only you knowing about the private key.
A secret is only a secret if 1 person knows about it.