Once you have successfully created a crypto wallet, you will receive a wallet section, a passphrase and a private key or just a passphrase, depending on the different blockchain wallet solution platform.
Anyone who has either of these two pieces of data can immediately access the crypto assets stored in your wallet. Private key and key passphrase that you absolutely will not divulge to anyone.
What is a private key?
A private key is a string format associated with an account, much like a password for a bank account.
Private key format: 1a6bb7e9b25bbed5f513bd1dd1866d12c1010a6d2a138f657aaf291064e11b7c.
What is a passphrase?
A passphrase is a plain text string of 12 to 24 characters that is used to encrypt information.
Format of a passphrase: Lecture Estate Tube Tunnel Decade Sound Flash Army Pink Nice Trap.
Define passphrase and private key
Why are there two passwords when creating a wallet, the passphrase is the private key? What is their difference? I will explain it in the simplest possible way for you to understand.
Think of the passphrase as the house key, and the private key is actually the key to every room in the family. A passphrase bears the internal private key in bold.
Below, I’ll give an example to illustrate how the passphrase and private key metamask works, using many ideas that you can easily understand.
Assuming you want to import any wallet from Apartment 1 (Apartment = passphrase) into the metamask used by Apartment 2, then you should import the private key into Apartment 2, not the passphrase (a passphrase cannot import a second passphrase).
Once you’ve saved the passphrase, you can access many wallets in it. However, if you need a wallet to import it to another location, you will need to get the private key.
So when can a passphrase be used, when can a private key be used?
Assuming you are creating this wallet from the perspective of the main wallet to store assets and not communicate much with the Dapp then you should keep the passphrase and private key carefully.
And suppose you are creating this wallet from the perspective of communicating with a lot of dapps, not storing a lot of capital, and desperately wanting to create a lot of accounts to airdrop and retrospectively, then you should create a main wallet with a lot of sub-wallets passphrase carefully.
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