Private key - Bitcoin Wiki (2024)

This page contains sample addresses and/or private keys. Do not send bitcoins to or import any sample keys; you will lose your money.

A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent.Every Bitcoin wallet contains one or more private keys, which are saved in the wallet file.The private keys are mathematically related to all Bitcoin addresses generated for the wallet.

Because the private key is the "ticket" that allows someone to spend bitcoins, it is important that these are kept secret and safe.Private keys can be kept on computer files, but are also often written on paper.

Private keys themselves are almost never handled by the user, instead the user will typically be given a seed phrase that encodes the same information as private keys.

Some wallets allow private keys to be imported without generating any transactions while other wallets or services require that the private key be swept.When a private key is swept, a transaction is broadcast that sends the balance controlled by the private key to a new address in the wallet.Just as with any other transaction, there is risk of swept transactions to be double-spending.

In contrast, bitcoind provides a facility to import a private key without creating a sweep transaction.This is considered very dangerous, and not intended to be used even by power users or experts except in very specific cases. Importing keys could lead to the Bitcoins being stolen at any time, from a wallet which has imported an untrusted or otherwise insecure private key - this can include private keys generated offline and never seen by someone else[1][2].

Contents

  • 1 An example private key
  • 2 Range of valid ECDSA private keys
  • 3 Hierarchical Deterministic (HD) Wallet Keys
  • 4 Base58 Wallet Import format
  • 5 Mini private key format
  • 6 Summary
  • 7 See Also
  • 8 References

An example private key

In Bitcoin, a private key is a 256-bit number, which can be represented one of several ways.Here is a private key in hexadecimal - 256 bits in hexadecimal is 32 bytes, or 64 characters in the range 0-9 or A-F.

E9873D79C6D87DC0FB6A5778633389_SAMPLE_PRIVATE_KEY_DO_NOT_IMPORT_F4453213303DA61F20BD67FC233AA33262

Range of valid ECDSA private keys

Nearly every 256-bit number is a valid ECDSA private key. Specifically, any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.

The range of valid private keys is governed by the secp256k1 ECDSA standard used by Bitcoin.

Hierarchical Deterministic (HD) Wallet Keys

Main article: Hierarchical deterministic wallet

Wallet software may use a BIP 32 seed to generate many private keys and corresponding public keys from a single secret value. This is called a hierarchical deterministic wallet, or HD wallet for short. The seed value, or master extended key, consists of a 256-bit private key and a 256-bit chain code, for 512 bits in total. The seed value should not be confused with the private keys used directly to sign Bitcoin transactions.

Users are strongly advised to use HD wallets, for safety reasons: An HD wallet only needs to be backed up once typically using a seed phrase; thereafter in the future, that single backup can always deterministically regenerate the same private keys. Therefore, it can safely recover all addresses, and all funds sent to those addresses. Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup.

Base58 Wallet Import format

Main article: Wallet import format

When importing or sweeping ECDSA private keys, a shorter format known as wallet import format is often used, which offers a few advantages.The wallet import format is shorter, and includes built-in error checking codes so that typos can be automatically detected and/or corrected (which is impossible in hex format) and type bits indicating how it is intended to be used.Wallet import format is the most common way to represent private keys in Bitcoin.For private keys associated with uncompressed public keys, they are 51 characters and always start with the number 5 on mainnet (9 on testnet). Private keys associated with compressed public keys are 52 characters and start with a capital L or K on mainnet (c on testnet). This is the same private key in (mainnet) wallet import format:

5Kb8kLf9zgWQnogidDA76Mz_SAMPLE_PRIVATE_KEY_DO_NOT_IMPORT_PL6TsZZY36hWXMssSzNydYXYB9KF

When a WIF private key is imported, it always corresponds to exactly one Bitcoin address.Any utility which performs the conversion can display the matching Bitcoin address.The mathematical conversion is somewhat complex and best left to a computer, but it's notable that the WIF guarantees it will always correspond to the same address no matter which program is used to convert it.

The Bitcoin address implemented using the sample above is: 1CC3X2gu58d6wXUW_SAMPLE_ADDRESS_DO_NOT_SEND_MffpuzN9JAfTUWu4Kj

Mini private key format

Main article: Mini private key format

Some applications use the mini private key format. Not every private key or Bitcoin address has a corresponding mini private key - they have to be generated a certain way in order to ensure a mini private key exists for an address. The mini private key is used for applications where space is critical, such as in QR codes and in physical bitcoins. The above example has a mini key, which is:

SzavMBLoXU6_SAMPLE_PRIVATE_KEY_DO_NOT_IMPORT_kDrqtUVmffv

Summary

Any Bitcoins sent to the address 1CC3X2gu58d6wXUW_SAMPLE_ADDRESS_DO_NOT_SEND_MffpuzN9JAfTUWu4Kj can be spent by anybody who knows the private key implementing it in any of the three formats, regardless of when the bitcoins were sent, unless the wallet receiving them has since made use of the coins generated.The private key is only needed to spend the bitcoins, not necessarily to see the value of them.

If a private key controlling unspent bitcoins is compromised or stolen, the value can only be protected if it is immediately spent to a different output which is secure.Because bitcoins can only be spent once, when they are spent using a private key, the private key becomes worthless.It is often possible, but inadvisable and insecure, to use the address implemented by the private key again, in which case the same private key would be reused.

See Also

References

Private key - Bitcoin Wiki (2024)

FAQs

What is a private key on Bitcoin? ›

What is a private key? A private key is a secure code that enables the holder to make cryptocurrency transactions and prove ownership of their holdings. Bitcoin keys specifically feature a 256-bit string displayed as a combination of letters and numbers.

What is the pattern of a private key in Bitcoin? ›

In Bitcoin, a private key in standard format is simply a 256-bit number, between the values: 0x01 and 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140, representing nearly the entire range of 2256-1 values.

Can you get public key from private key Bitcoin? ›

It's possible to recover the public key if you own the private key. However, it's impossible to find the private key using only the public key. If you've been dabbling in crypto for a little while, you may be wondering how on earth your crypto wallet works.

How many Bitcoin private keys are there? ›

A private key is a 256-bit number. This means that it is represented in binary in 256 numbers of 0 or 1. In total, this means there are a total of (almost) 2^256 combinations of private keys. This number can also be expressed as 10^77 for simplicity.

What can someone do with your bitcoin private key? ›

This compromise can lead to the theft of cryptocurrency, as the private key gives full access to the funds associated with the corresponding public key.

What is an example of a private key? ›

Private key encryption is often used to encrypt data stored or transmitted between two parties. For example, when you log in to a website using a username and password, the password is often encrypted using a private key before it is transmitted to the web server.

Can you guess a private key Bitcoin? ›

The probability of guessing a valid Bitcoin private key is 1 in 2²⁵⁶. Said like that, it might seem like a relatively simple task. But you might be very surprised to learn how futile such an attempt would be.

Where is the private key on a physical Bitcoin? ›

The most crucial part of physical bitcoins is their private key, often concealed under a tamper-resistant label or sticker on the reverse or edge. Private keys can take various formats, including a string of numbers and letters, a QR code, or a set of words.

How to import btc private key? ›

How do I import a Bitcoin address?
  1. Log into your wallet via web-browser.
  2. Navigate to Settings - Wallets & Addresses.
  3. Select Bitcoin and click Import Address button on the right.
  4. Enter the private key, label (name) and choose the wallet to which you'd like to transfer funds to (optional)
May 29, 2023

How do I withdraw bitcoin from private key? ›

To withdraw your bitcoin, your exchange must initiate a transaction on your behalf by utilizing their private key to transfer the bitcoin to your designated address. This transaction must be confirmed on the blockchain before the bitcoin becomes available.

What happens if I lost my bitcoin private key? ›

Private keys represent control and ownership of cryptocurrency. If your keys are stolen or lost, your crypto is gone.

Is knowing someone's private key equivalent to owning their bitcoin? ›

Private keys: An overview

In simpler terms, knowing a private key is equivalent to owning crypto assets, since private keys are what enable you to authorize transactions with them.

Can a bitcoin private key be cracked? ›

Complex Structure and Security

The structure of a private key in crypto is complex, often making it nearly impossible to crack. This level of security is essential, as the private key is the only means of proving ownership and control over your digital assets.

What does a BTC private key look like? ›

In Bitcoin, a private key is a 256-bit number, which can be represented one of several ways. Here is a private key in hexadecimal - 256 bits in hexadecimal is 32 bytes, or 64 characters in the range 0-9 or A-F.

What is the major problem with private key cryptography? ›

The main limitation is the issue of key exchange. As private key encryption uses the same key for encrypting and decrypting the message, the key must be shared between the sender and receiver. This creates a security risk because if the key is compromised, then all messages using that key are also at risk.

How do I get my private key? ›

Where's my private key?
  1. Open the Microsoft Management Console (MMC).
  2. In the Console Root, expand Certificates (Local Computer). Your certificate will be located in the Personal or Web Server folder.
  3. Locate and right click the certificate, click Export and follow the guided wizard.

How much does a private key cost? ›

How much does it cost to get a private key for Bitcoin (BTC)? You do not need the key to receive bitcoins, but you must have the key associated with the address to spend the coins (send them to another address). creating a private/public key and bitcoin address is free. any wallet provides that function.

What is the difference between a seed phrase and a private key? ›

A private key is a long string of digits that gives its owner access to cryptocurrency on a specific blockchain address. A seed phrase is typically a set of 12 random words that is used to garner access to a self-custody wallet. An infinite number of private keys can be stored under a single seed phrase.

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