Answers to: https://gab.com/muricangnat/posts/104565089068211877
Question 1) https://gab.com/muricangnat/posts/104566886630668418
Question 2) https://gab.com/muricangnat/posts/104600310757873635
Question 3) What is a public key?
This may surprise you, but different crypto projects are different... and that includes details regarding public keys and how to use them. In light of that this will be very generalized.
The public key is a string that serves as the unique address on a blockchain/DLT. It is what is needed to designate the target for any transaction.
i.e. for the below scenarios you will need to provide a public key.
1) You want to move your assets from an Exchange(Coinbase/Kraken/etc) to a Ledger that you own. On the exchange website there will be a place were you insert(paste) the public key to your "wallet" that is protected by your ledger.
2) You want to move assets from your ledger to an exchange. You will need to provide the exchange's public key and typically a "Tag" that enables the exchange to allocate those assets to your exchange account when a transaction hits their address(public key).
3) Say you sell your Surly Karate Monkey to a guy on craigslist for XRP. They will need your public key to initiate a transfer from their wallet to yours.
Some things to think about regarding public keys.
1) By design, your public key is uhh... public. Excluding privacy coins, your public key, all transactions, and the balance on that account are readily available from sites like https://xrpscan.com/, or https://etherscan.io/. It is a good practice to use a VPN before looking at your account balance or running an app like Ledge Live software. Otherwise the people who run these sites, or at your ISP, could have a relatively easy path to figuring out the home address of the people looking at a specific public key. Potentially making you a juicy target.
2) If you use a public key as a target for accepting payments/donations, you should not use that public key for long term storage. You should move the assets through an exchange account and to another public key so that prying eyes don't know your balance.
3) Always check your exchange account for the public key/Tag pair associate with your account right before sending assets, it can change... I've seen it.
Every transaction to/from your public key will forever be remembered. Think about this... it is not the road to freedom and inclusion they proclaim. It is just an investment opportunity.
Comment below if you have any questions, I'll do my best to answer.
DISCLAIMER: This is not financial Advice. You make your own decisions.
#UnderstandingDigitalAssets
Join the 'Digital Assets' group if you are interested in learning some of the basics of their care and feeding. https://gab.com/groups/4617
For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.
1 Timothy 6:10(NKJV)
Having money is not a sin, beware of loving it.
Question 1) https://gab.com/muricangnat/posts/104566886630668418
Question 2) https://gab.com/muricangnat/posts/104600310757873635
Question 3) What is a public key?
This may surprise you, but different crypto projects are different... and that includes details regarding public keys and how to use them. In light of that this will be very generalized.
The public key is a string that serves as the unique address on a blockchain/DLT. It is what is needed to designate the target for any transaction.
i.e. for the below scenarios you will need to provide a public key.
1) You want to move your assets from an Exchange(Coinbase/Kraken/etc) to a Ledger that you own. On the exchange website there will be a place were you insert(paste) the public key to your "wallet" that is protected by your ledger.
2) You want to move assets from your ledger to an exchange. You will need to provide the exchange's public key and typically a "Tag" that enables the exchange to allocate those assets to your exchange account when a transaction hits their address(public key).
3) Say you sell your Surly Karate Monkey to a guy on craigslist for XRP. They will need your public key to initiate a transfer from their wallet to yours.
Some things to think about regarding public keys.
1) By design, your public key is uhh... public. Excluding privacy coins, your public key, all transactions, and the balance on that account are readily available from sites like https://xrpscan.com/, or https://etherscan.io/. It is a good practice to use a VPN before looking at your account balance or running an app like Ledge Live software. Otherwise the people who run these sites, or at your ISP, could have a relatively easy path to figuring out the home address of the people looking at a specific public key. Potentially making you a juicy target.
2) If you use a public key as a target for accepting payments/donations, you should not use that public key for long term storage. You should move the assets through an exchange account and to another public key so that prying eyes don't know your balance.
3) Always check your exchange account for the public key/Tag pair associate with your account right before sending assets, it can change... I've seen it.
Every transaction to/from your public key will forever be remembered. Think about this... it is not the road to freedom and inclusion they proclaim. It is just an investment opportunity.
Comment below if you have any questions, I'll do my best to answer.
DISCLAIMER: This is not financial Advice. You make your own decisions.
#UnderstandingDigitalAssets
Join the 'Digital Assets' group if you are interested in learning some of the basics of their care and feeding. https://gab.com/groups/4617
For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.
1 Timothy 6:10(NKJV)
Having money is not a sin, beware of loving it.
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