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Buy Bitcoin on Fredrick Bank in real-time. Trade with other users online using our live chat.
A private key is like a password — a string of letters and numbers — that allows you to access and manage your crypto funds. … As long as you — and only you — have access to your private key, your funds are safe and can be managed anywhere in the world with an internet connection.
In Bitcoin, a private key in standard format is simply a 256-bit number, between the values: 0x01 and 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140, representing nearly the entire range of 2256-1 values.
Only the owner of the private key can encrypt data so that the public key decrypts it; meanwhile, anyone can encrypt data with the public key, but only the owner of the private key can decrypt it. Therefore, anyone can send data securely to the private key owner.