The Private key connected to a cryptocurrency account is utilised to authorise transactions. The private key is literally the password that enables someone to spend cryptocurrency. For this reason, it is entailed that you keep your private key safely and privately. The private key may look different depending on the type of cryptocurrency you are using. Bitcoin, for instance, uses 256-bit numbers and letter combinations. A private key looks like: E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262.