Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
🔑 Understanding Your Cryptocurrency Wallet
A cryptocurrency wallet is essential software you use to access and manage the coins you purchase. You need a functioning wallet to buy cryptocurrency on Paybis.
What's Inside the Wallet? Keys and Address
| Key Type | Function & Usage | Security Requirement |
|---|---|---|
| Private Key | Used to access and spend your cryptocurrency. | CRITICAL! Must be kept SAFE and SECRET. Whoever has this key can access your funds. If you lose it, your crypto is permanently inaccessible. |
| Public Key | Used to generate your wallet address. | Can be freely shared. It is impossible to derive your private key from your public key. |
| Wallet Address | Derived from the public key, this is the destination for receiving funds. | Public. This is the address Paybis will ask for to send your purchased crypto. |
⚠️ Security and Transaction Warnings
You are your own bank: There is no central authority to restore your access if you lose your private key. You cannot call anyone to recover your funds.
Irreversible Transactions: Crypto transactions are permanent and irreversible. Once funds are sent to an address, they belong to the wallet holder.
Check Carefully: Always double-check the wallet address before confirming a transaction, as mistakes may lead to the permanent loss of your money.
Paybis Recommendation
We recommend using the secure wallets provided by Paybis for ease of use and integrated security.