Crypto uses three terms that sound alike and do very different jobs. Mixing them up can lead to sharing the wrong one. This comparison is part of our guide to what a recovery phrase is.
The short version
| Item | What it is | Controls | Share it? |
|---|---|---|---|
| Seed phrase | 12 or 24 words | Every key in the wallet | Never |
| Private key | A very long secret number | The funds at one address | Never |
| Public key | A number made from the private key | Nothing by itself | Rarely needed |
| Address | A shorter form of the public key | Nothing by itself | Yes, to get paid |
How the pieces connect
Each item is produced from the one before it, and the process only runs one way:
Think of a house with many rooms. The seed phrase is the master key cutter that can make any key to any room. A private key opens a single room. An address is like the room's letterbox: anyone can post something in, but only the key holder can take it out.
The seed phrase
The seed phrase is the top of the tree. Wallets following the BIP39 standard turn your words into a seed, and from that seed they can produce a practically unlimited set of private keys in a fixed order, using derivation paths.
That order is the clever part. Because the same words always produce the same keys, your backup never needs updating when you add new accounts or coins. A single sheet of words covers everything the wallet will ever create. If you want to see how this works, 12 vs 24 words explains what the words contain.
The private key
A private key is what actually signs a transaction and says "yes, move these funds". Your wallet handles private keys behind the scenes, and most people never see one.
One private key controls one address. If it leaks, the funds at that address are at risk. If your seed phrase leaks, everything is at risk, which is why the phrase is the secret that needs the strongest protection.
The public key and address
Your public key is calculated from your private key. An address is a shortened, checkable form of it. This is what you give people when they want to send you crypto.
Sharing an address is safe in the sense that nobody can spend from it. It is not private, though. Blockchains are public, so anyone with your address can see its balance and history.
What can each one do if stolen?
- Seed phrase stolen: a thief can recreate your whole wallet on their own device and empty it. Follow the emergency steps straight away.
- Private key stolen: a thief can spend from that address.
- Address known: nobody can take anything, but they can see what is there.
Where a passphrase fits
Some wallets let you add an extra secret to your seed phrase. It changes the entire tree, producing a completely different set of keys from the same words. Read what the 25th word is to find out how.