Private key

When a user receives or sends cryptocurrency, they use their private key to digitally sign the transaction and authenticate it on the blockchain network. The private key is used to unlock the user's cryptocurrency wallet, giving them access to their holdings and the ability to make transactions.

Since the private key is essential to access and control a user's cryptocurrency holdings, it is important to keep it secure and confidential. If a private key is lost, stolen, or compromised, the user may permanently lose access to their cryptocurrency holdings.