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Secret key Meaning

A secret key is the Digital Password that gives a user control over their funds on a blockchain. In asymmetric cryptography, every Public Key (your address) has a corresponding Secret Key. While you can share your public key with anyone to receive money, your secret key must be kept absolutely private.

If someone has your secret key, they are you in the eyes of the network.Technically, a secret key is just a very large random number, typically 256 bits long. Your wallet software uses this number to create a Digital Signature for every transaction.

This signature proves to the network that you are the owner of the funds without ever actually Showing the secret key to the internet. It is mathematically impossible for someone to Guess your secret key or Reverse your public key to find it, making the system incredibly secure as long as the key is kept offline.The Weight of holding a secret key is the core of the Self-custody philosophy.

In a traditional bank, the bank holds the Secret Key to your money and lets you access it via a password. In crypto, you hold the key.

This means no one can freeze your account or stop your transactions, but it also means there is no Customer Support if you lose the key. Secret Key Management-using hardware wallets and secure backups-is the most important skill for anyone entering the world of decentralized finance.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

Additional notice to UK visitors: This website and associated communications are not intended to constitute a financial promotion under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and related guidance. Access to services provided by Finery Markets is limited to regulated entities, professional clients and eligible counterparties as set out by the Financial Conduct Authority. UK users are not permitted to use this website for the services of Finery Markets if they don't fall within these categories.