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The Secrets of Bitcoin Wallets and Private KeysPublic and private keys are an integral part of Bitcoin and other cryptocurrencies. They allow you to send and receive cryptocurrency without requiring a third. Essentially, public keys act like an account number. They make each wallet uniquely identifiable to participants on the network. Like the. In the context of cryptocurrency, a private key is a number that allows users to sign transactions and to generate receiving addresses. Cryptocurrencies rely.