What is a private key quiz

Question 1

What does a private key allow you to do?

Accepted Answer

Sign transactions that spend funds controlled by the matching address

Question 2

Why is it safe to share your public address but not your private key?

Accepted Answer

The public key is derived from the private key by a one way function and cannot be reversed

Question 3

What is the relationship between a seed phrase and private keys?

Accepted Answer

All of a wallet's private keys are derived from the seed phrase

Question 4

How are private keys most often stolen?

Accepted Answer

By tricking the user through phishing or infecting their device with malware

Question 5

What happens if you lose your private key and seed phrase?

Accepted Answer

The funds are permanently inaccessible

What is a private key: the quiz