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Author Topic: newbie questions about Private Key  (Read 332 times)
crypto zen (OP)
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December 19, 2017, 01:26:22 AM
 #1

Im pretty newbie in cryptocurrency. I heard that we need to keep secure our Private key. Do we get a Private Key each time we open an account on an Exchange ie: Bittrex, Poloniex, Binance, Coinbase, etc? or do we get Private Key on each currency? I have account on Bittrex and Binance and Coinbase, and as I can remember they never show me Private key. do I suppose to get one?

I also need to know; Do we need to save the generated address each time we send or receive coins between exchange? the address keep changing each time we send.

And where do I get a Paper Private key?

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December 19, 2017, 04:14:11 AM
 #2

The exchanger above you mention is not an offline wallet, is under control by 3rd party company.
1 of the exchanger i knew is etherdelta, if u open new acc, u need keep the private key, and the public key "address" is shown together.

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December 19, 2017, 04:43:02 AM
 #3

Im pretty newbie in cryptocurrency. I heard that we need to keep secure our Private key. Do we get a Private Key each time we open an account on an Exchange ie: Bittrex, Poloniex, Binance, Coinbase, etc? or do we get Private Key on each currency? I have account on Bittrex and Binance and Coinbase, and as I can remember they never show me Private key. do I suppose to get one?

I also need to know; Do we need to save the generated address each time we send or receive coins between exchange? the address keep changing each time we send.

And where do I get a Paper Private key?



youre never get private key, if get addres in exchanger
except etherdelta, because in there decentralized exchange you can get private key in there, but only ETH addres
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December 19, 2017, 04:53:05 AM
 #4

Thats why you can keep your private key be provate because if one know youre private key they use it to get your money from it all you can do is to be secured of it and dont tell to every one even your friends.
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December 19, 2017, 05:12:18 AM
 #5

Im pretty newbie in cryptocurrency. I heard that we need to keep secure our Private key. Do we get a Private Key each time we open an account on an Exchange ie: Bittrex, Poloniex, Binance, Coinbase, etc?
You do not hold any private key in any exchanges. They hold the private key of the deposit address you use in each exchanges. That is why it is not advised to hold your crypto in any exchanges.

or do we get Private Key on each currency? I have account on Bittrex and Binance and Coinbase, and as I can remember they never show me Private key.
You only get public keys or address for each crypto where you can deposit your crypto.

I also need to know; Do we need to save the generated address each time we send or receive coins between exchange? the address keep changing each time we send.

Not necessary, just get the new one.


And where do I get a Paper Private key?

You can get the private of the address from the wallet where you generated the address. You can print it and store it safely where no one can steal it.
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December 22, 2017, 08:42:40 AM
 #6

You get private keys from online wallets e.g. : MyEtherWallet . Those exchanges only give you address where you should send you coins . For example , in crytopia if you want to deposit some lets say $Onions . DeepOnion has its own wallet , the wallet has a generated address and private key which you should copy and back up . When depositing in Crytopia , they will give you an $onion address where you should send the coins you want to deposit . After the transaction , it will go to your exchange wallet and from there you can start trading . However , there are some exchanges that offers their own wallet for trading . EtherDelta is one , they have an option if you want to import your wallet or if you want to use their generated wallet . But of course you need to back up your wallet details or else youll lose all your coins deposited .

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December 22, 2017, 10:47:00 AM
 #7

Im pretty newbie in cryptocurrency. I heard that we need to keep secure our Private key. Do we get a Private Key each time we open an account on an Exchange ie: Bittrex, Poloniex, Binance, Coinbase, etc? or do we get Private Key on each currency? I have account on Bittrex and Binance and Coinbase, and as I can remember they never show me Private key. do I suppose to get one?

I also need to know; Do we need to save the generated address each time we send or receive coins between exchange? the address keep changing each time we send.

And where do I get a Paper Private key?


you will have privatekey every time you create a wallet for every coin. private key or seeds is the key to open your wallet and you are the only one who know it  dont share it to other people and secured your private to a place that can you easly remember . and exchnage dont give any private key.



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December 22, 2017, 01:43:43 PM
 #8

Exchanges do not provide private key for your wallet.and not all online wallet provide private key.coinbase do not provide it and many more.always prefer those online wallet which provides you private key such as myetherwallet,bitgo,etc.
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December 22, 2017, 02:24:42 PM
 #9

Exchanges do not provide private key for your wallet.and not all online wallet provide private key.coinbase do not provide it and many more.always prefer those online wallet which provides you private key such as myetherwallet,bitgo,etc.

Now I understand more about private key. For some reason, I choose myetherwallet because of that kind of security. Security measure is one of a good factor when choosing online wallet.
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December 22, 2017, 02:49:04 PM
 #10

MEW wallet is an erc20 token that uses private key and will be available if regestration and private key will be reused when you want to enter exchange exchange like etherdelta and idex.

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December 22, 2017, 03:06:16 PM
 #11

Im pretty newbie in cryptocurrency. I heard that we need to keep secure our Private key. Do we get a Private Key each time we open an account on an Exchange ie: Bittrex, Poloniex, Binance, Coinbase, etc? or do we get Private Key on each currency? I have account on Bittrex and Binance and Coinbase, and as I can remember they never show me Private key. do I suppose to get one?

I also need to know; Do we need to save the generated address each time we send or receive coins between exchange? the address keep changing each time we send.

And where do I get a Paper Private key?


These are the advantage when you do make use on exchange wallet which you wont really have the possession of your own private keys which is already a part of the risk when you do tend to store up coins on an exchange wallet and this is why its being advised for how many times already that we should not really store up huge amounts because once those exchanges been hacked or compromised you wont really have the chance on accessing those wallet since you don't have the private keys.

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December 25, 2017, 11:47:14 PM
 #12

There is no private key if you are exposed to any exchanger wallet but if you use myetherwallet, you have private key that should be saved for various purposes.

And then there is the question of how to save it in a safe manner. What I find particularly difficult is making sure that the computer does not have malaware or any suspicious program. Re-formating and installing a system is an option, but is tiresome.

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December 28, 2017, 11:04:33 AM
 #13

There is no private key if you are exposed to any exchanger wallet but if you use myetherwallet, you have private key that should be saved for various purposes.

And then there is the question of how to save it in a safe manner. What I find particularly difficult is making sure that the computer does not have malaware or any suspicious program. Re-formating and installing a system is an option, but is tiresome.
Absolutely , time consuming of installing and re-formatting application or Operating System. How about some anti-virus? Is it possible that anti virus can detect those kind of malware?
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December 28, 2017, 12:51:20 PM
 #14

The exchange's address is often changed, so be careful not to send it to other addresses. You can download a local wallet that will prompt you to save your private key.

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December 28, 2017, 02:15:00 PM
 #15

Im pretty newbie in cryptocurrency. I heard that we need to keep secure our Private key. Do we get a Private Key each time we open an account on an Exchange ie: Bittrex, Poloniex, Binance, Coinbase, etc? or do we get Private Key on each currency? I have account on Bittrex and Binance and Coinbase, and as I can remember they never show me Private key. do I suppose to get one?

I also need to know; Do we need to save the generated address each time we send or receive coins between exchange? the address keep changing each time we send.

And where do I get a Paper Private key?


Private key only for wallet you hold, not for exchange! Because who have a private key can sent your coin!
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December 28, 2017, 02:18:08 PM
 #16

I don't know about private key?
Someone please inform me about this
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December 28, 2017, 07:04:58 PM
Last edit: December 30, 2017, 02:26:29 PM by alexeyneu
 #17

here is a list
https://coinclarity.com/wallets/?fwp_cold_storage=yes
not all wallets there allow access to private key ,but there is 'security' tab with private key location in each one's description
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December 28, 2017, 07:14:32 PM
 #18

I don't know about private key?
Someone please inform me about this
Have you tried out on making a new wallet? Specially on desktop wallet or even on ETH (myetherwallet). If you did able to try then you would really able to get cautions about storing up your Private keys which it is just simply an important key that would really be needed for you to access your wallet this is why its really important to keep it safe and not been known by anybody because you would really lost your coins once someone did have the possession of they keys. Just imagine on a simple concept that a thief do have a key of the door of your own house.

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December 29, 2017, 02:36:21 PM
 #19

Good lectures on this thread thanks.

https://bitcointalk.org/index.php?topic=4905709.msg44176665#msg44176665
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December 29, 2017, 03:06:43 PM
 #20

Private keys are just only in your MyEtherWallet Account. It is only one. This private key only given once when you applied for ether address in the https://www.myetherwallet.com...and I advice you to copy and save the address and keep you private key confidential.

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