What are the best practices for securely sharing your public key when participating in a cryptocurrency transaction?

3 answers

• Dec 25, 2021 · 3 years ago
  One of the best practices for securely sharing your public key when participating in a cryptocurrency transaction is to use a secure messaging platform. You can encrypt your public key using the recipient's public key and send it through a secure channel. This ensures that only the intended recipient can access your public key and use it for the transaction. Additionally, you should always verify the recipient's public key through a trusted source to prevent any potential man-in-the-middle attacks.
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• Dec 25, 2021 · 3 years ago
  When it comes to securely sharing your public key in a cryptocurrency transaction, you can also consider using a QR code. Generate a QR code containing your public key and share it with the recipient. This method eliminates the risk of typos or errors when manually entering the public key. However, make sure to use a trusted QR code generator and verify the generated code before sharing it. Remember to always double-check the recipient's public key to ensure you are sending it to the correct address.
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• Dec 25, 2021 · 3 years ago
  At BYDFi, we recommend using a decentralized exchange (DEX) for securely sharing your public key. DEXs allow you to trade directly from your wallet, eliminating the need to share your public key with a centralized exchange. This reduces the risk of your public key being intercepted or compromised. Additionally, always double-check the recipient's public key before initiating a transaction to avoid any potential scams or frauds.
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