That's why banks require your authorization to deposit money from someone else.įortunately, crypto is more transparent than cash, so it's easy for you to see where the money came from if anyone does something like this.

The only real flaw with this is that it opens the door for bad actors to deposit ill-gotten gains into your account. Businesses that accept crypto may also have a QR code to their wallet so that customers can quickly and easily pay with their smartphones. Some people put their public keys in places like social media bios so that people can simply deposit funds in their wallets. In fact, your public key is a lot easier to share-it might be a link that you can copy and paste or even a QR code that you can print off. Related: The Best Ways to Back Up Your Cryptocurrency Wallet Keys How to Manage Public KeysĪs we've said, you can be less careful with your public keys. Store it somewhere safe in your home, like a firebox, or even in a safe deposit box in the bank. You can keep your private keys digitally stored using a service like a password manager, but the safest thing to do is keep a physical copy.

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