Public and private keys are an important part of the cryptocurrency ecosystem. They are strings of numbers and letters used to encrypt or decrypt data and work as a pair to help users conduct secure transactions.

The public key can be thought of as the mailing address of the vault, while the private key is the actual key to the vault. In order to receive cryptocurrency assets from others, you must share your mailing address (public key) so they know where to send the assets. The private key is used to open the vault and take control of the assets. It gives you the right to send cryptocurrencies to others.

To improve user-friendliness, many wallet providers convert private keys into a more memorable format, usually a 12 to 24 word string, often referred to as a "seed phrase" or " Secret Recovery Phrase" (SRP).

Under no circumstances should you share your private key or seed phrase (mnemonic phrase) with anyone. Anyone who gains control of the private keys can access the wallet and do whatever they want with the assets, such as transferring them to their own account.

You may be interested in the following information:

• What is a cryptocurrency wallet?
• What is a mnemonic phrase?