BEGINNER PATH / 04

KEYS, ADDRESSES & RECOVERY.

Bitcoin separates the information you can safely share to receive funds from the secret information that can authorize spending.

ADDRESS

WHERE SOMEONE SENDS BITCOIN

A wallet can generate Bitcoin addresses for receiving payments. An address is not your private key and does not give someone permission to spend your funds.

PRIVATE KEY

SPENDING AUTHORITY

A private key is secret cryptographic information used to produce signatures that authorize spending under the relevant Bitcoin locking conditions.

RECOVERY

A HUMAN BACKUP

Many modern wallets represent the backup of their key material as a recovery phrase. Anyone who obtains that recovery information may be able to reconstruct control of the wallet.

Never type a real recovery phrase into an unfamiliar website, message, support chat or form. A legitimate self-custody backup should be treated as highly sensitive secret information.