What are Private keys, Backup phrase, and where they stored
Created by: Andrew
Modified on: Tue, 7 May, 2019 at 2:46 PM
What Are Private Keys?
A private key is like a password to a digital bank account. When you first opened your Atomic Wallet, your private keys were created. It was actually your private keys that mathematically generated your public addresses, so they are connected. Without the private key, you cannot prove that the funds in the public address are yours.
What are Backup Phrase?
Backup Phrase contains all the private keys in your wallet, allowing you (or anyone who has it) to restore your wallet and access your funds. You have a private key for each of your assets (Bitcoin, Litecoin, Ethereum, etc), but a 12-word phrase has control of all of your private keys.
If a person half-way around the world gains access to either your 12-word backup phrase or any of your private keys, they'll be able to steal your assets.
! Never give out your private key to anyone !
Where the Private keys are stored?
The private keys to your blockchain assets are stored on your computer.
They are encrypted and generated on your device. Private keys are fully under your control.
What if I've lost my private key?
If you still have access to yout Atomic Wallet, you can easily find your private keys in "Settings" tab.
1) Go to "Settings" -> "Private keys"
2) Insert your private key.
3) You now have access to all your Private keys in the Atomic Wallet.
Andrew is the author of this solution article.
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