Address
A unique string of alphanumeric characters derived from a public key that serves as a destination for sending and receiving cryptocurrency. Addresses function similarly to bank account numbers but are pseudonymous rather than tied to a real-world identity.
“An Ethereum address looks like 0x71C7656EC7ab88b098defB751B7401B5f6d8976F. You can safely share your address to receive funds.”
Public Key
A cryptographic code derived mathematically from a private key that can be shared publicly without compromising security. Public keys are used to generate wallet addresses (via hashing) and to verify digital signatures, confirming that a transaction was authorized by the corresponding private key holder.
Wallet
A software application or hardware device that stores the cryptographic private keys needed to access and manage cryptocurrency holdings. Despite the name, wallets don't actually store crypto — the assets exist on the blockchain. The wallet stores the keys that prove ownership and authorize transactions. Wallets can be hot (internet-connected) or cold (offline).
Private Key
A secret cryptographic code, typically a 256-bit number, that proves ownership of cryptocurrency and authorizes transactions. The private key is mathematically linked to a public key through elliptic curve cryptography — it can generate the public key, but the public key cannot reverse-derive the private key. Anyone with access to a private key has complete, irrevocable control over the associated funds.