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What are private keys?
What are private keys?

Private keys are a crucial part of how crypto works. Every crypto address has a corresponding private key, which controls access to crypto.

Updated over a week ago

Private keys are a crucial part of how crypto works. In this article, we explain what they are, give an example, and show you how to find your private keys.

Need a crypto wallet that gives you full control of your private keys? You can download Exodus here.


In this article:



What are private keys?

Private keys prove ownership of any crypto associated with a particular address. They allow you to access and spend the assets at that address.

Every address that you create, or own, has its own private key.

An easy way to think about private keys is by using the analogy of a bank. If your wallet is like your online banking account, your private key is the password for the account, allowing you to go in and spend your money as you please.

Therefore, similarly to how you keep your online banking information safe, you must keep your private keys safe. Otherwise, anyone with the keys can access your funds.

Your private keys control your funds, so it is important to keep them secret. Anyone with your private keys will have access to your funds, so please don’t share them with anyone, including Exodus Support! Never give out your private key, no matter how "safe" it seems.


Private key - example

Private keys are different from your public addresses. Unlike public addresses, you should never share your private keys with anyone, even if they are sending you funds. This is an example of what a private key looks like.

The full address and full private key in the screenshot aren’t shown, but you can see that the public address has a corresponding private key. This private key gives full access to the address and the funds at the address.


How does Exodus create my private keys?

When you first opened your Exodus wallet, your private keys were created using your secret recovery phrase.

Your secret recovery phrase, when run through a standardized algorithm or formula, turns into a seed integer or number that can be thought of as your master private key.

When this “master” private key is run through another standardized algorithm, an almost endless amount of private and public keys can be created.

If it weren’t for the secret recovery phrase, you would have to keep track of your private key for each and every address that you own. This of course would be a huge headache and an easy way to lose access to addresses and the money inside them. Often assets have multiple addresses that hold funds, so if you have multiple assets, that can add up to a lot of private keys.

Instead, in Exodus, you can manage your funds using your secret recovery phrase.

Since your secret recovery phrase is your “master” private key, it gives access to all your private keys and their addresses with your funds.

This is why it's important to always keep it safe and never share it with anyone, not even Exodus staff. Anyone who knows your secret recovery phrase or any of your private keys will be able to steal your assets.


Where are my private keys stored?

The private keys to your crypto are generated and encrypted locally and stored on your device. Private keys are 100% in your control.

No private keys are ever stored on any of our servers.

Exodus servers only back up encrypted metadata like transaction data, personal notes, and exchange history.

In addition, this metadata is encrypted with your password so it remains secure. Only you can read and use your data when you decrypt it with your password.


How do I find my private keys?

If you'd like to learn how to find individual private keys, please visit this article: How can I view my private keys?

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