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Your private key is hidden inside the software behind this user-friendly string of words.However, if you keep your crypto in an exchange wallet (such as Coinbase or Binance) or with acustodian, then that company holds your private key for you.

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Don't take a screenshot of it or take a picture with your phone as these digital copies are often targeted by hackers.Benedict George is a freelance writer for CoinDesk.

He has worked as a reporter on European oil markets since 2019 at Argus Media and his work has appeared in BreakerMag, MoneyWeek and The Sunday Times.

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