Wallets: your keys, your coins — Key concepts

Private keyA long secret number that can create valid signatures. It is the “signing pen” that moves funds. Never type or photograph it; keep it offline.

Privacy is necessary for an open society in the electronic age.

— Whitfield Diffie

Public key & addressThe public key lets anyone verify signatures. The address is a shorter, checksum-protected label derived from it so people can pay you. Addresses are safe to share.

Seed phrase12–24 words that can recreate all private keys derived from it (often many addresses). It is the single backup. Only type it when restoring inside a trusted wallet.

Signatures vs sendingSigning a message proves control without moving money. Sending a transaction also uses the private key, but broadcasts an action to the network.

Hot vs coldHot = keys on an internet device (fast but exposed). Cold = keys offline (slower but safer). Use hot for pocket change, cold for savings.

EOA vs contract accountExternally owned accounts (EOAs) are controlled by a private key. Contract accounts are controlled by code; you interact with them but don’t “own” their keys.

Wallet picksMetaMask, Rabby, Coinbase Wallet, and other reputable options all follow these rules: official download only, seed stays offline, addresses are shareable, and the explorer is the independent source of truth. Choose the UI you like; the principles don’t change.

Checksums & copy-pasteAddresses contain a checksum (capitalization pattern) that catches typos. Always copy-paste and double-check the first/last 4 characters before sending.

Derivation paths (light intro)One seed can create many addresses using paths like m/44'/60'/0'/0/0. You don’t need to memorize the numbers—just know a single seed can control multiple wallets.