Private Key

A private key is the long secret string that mathematically proves ownership of crypto and authorizes transactions. It's typically derived from a 12 or 24-word seed phrase that the wallet owner records during setup. Lose the private key (or the seed) and the crypto is unrecoverable; share it and anyone with it can move the funds.

The phrase 'not your keys, not your coins' captures the entire ethos of crypto self-custody. Holding crypto on an exchange means the exchange holds the keys — and your access depends on the exchange's solvency and good behavior.

Why it matters for Milo customers

Milo's self-custody mortgage product is built around the private-key principle: your keys never move to a lender or custodian. The mortgage qualifies on proof you control the wallet, not on transferring assets. For long-term holders who refuse to give up keys, this is the only major-lender product that respects that constraint.

Related terms

Self-CustodySelf-Custody MortgageCold WalletMulti-Signature Wallet
PrincipalPrivate Mortgage Insurance (PMI)

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