Difference of Passphrase, Private Key and Public key
Maybe some of you don’t know the difference between these three crypto terms. People sometimes interchange the meaning of passphrase and private key.
In this article, I will explain the difference between these three.
Passphrase is another way of securing and restoring your wallet or account. It consists of 12 random words that you should remember. In case, you lost your phone or uninstalled your wallet application; you can restore it through the use of a passphrase. That’s why it is very important that you memorize or have a copy of your passphrase because this is the only way to restore access to your account.

Public Key is referring to an address where the funds are received and deposited. You can compare a public key to your account number in your bank account. You may share your public key to anyone, and it wouldn’t cause any threat to your digital wallet.
On the other hand, a Private Key is represented by an address that allows you to spend the funds in your wallet. It is the key to access your account. You should not share it with anyone. Private key is closely similar to your password in your bank account.
To sum it all up, Public key is like an account number that you can share with anyone. Private Key is for sending and withdrawing funds; and last but not the least, a Passphrase is for securing your account and restoring it in case, you lost or uninstalled your wallet. But just like a private key, a passphrase is not to be shared with anyone because it will grant access to your account.
I hope you learned something from this article, for more please visit: https://medium.com/me/stories/public
Please visit also our page: XIN Marketing | Blockchain | Innovate the world
Please check out this Ethereum Wallet: HB Wallet
This wallet is exclusive for storing Ethers, ERC20 and ERC223 Tokens. We can also receive free airdrops and use other amazing functions: It is Fast, Secure and Easy to use!
Get it here for FREE! Download | Ethereum Wallet | HB Wallet
#CRYPTOCURRENCY #BITCOIN #ETHEREUM#XINMARKETING#CENTRALIZED #DECENTRALIZED#BLOCKCHAIN#NODES#SMARTCONTRACT#COINS#TOKENS#TOKENNEWSCONFERENCE#TOKENNEWSPH#HBWALLET #HOTWALLETVSCOLDWALLET
