What is my private key?

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No computer at the moment, so I have Wallets at two independent websites. I sent millibits from one wallet to the other. I hear that you have to use your private key to do that. So, I guess that site created the private key for me, and they control it? I certainly don’t know what it is.

WGroleau

Posted 2014-03-06T04:16:36.380

Reputation: 131

Answers

1

Yes, when you use an online wallet service, you are trusting the website operator to generate and maintain your private key(s) for your account.

There is a saying that goes something like, "Unless you hold your own private keys, your bitcoins aren't really yours."

Greg Hewgill

Posted 2014-03-06T04:16:36.380

Reputation: 3 321

Asked: 2014-03-06T04:16:36.380

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Active: 2014-03-06T04:23:58.790