👉 Before diving in, you should always be extremely careful with your private key(s) — whoever has your private key can control your wallet and steal everything inside of it.
Private Key vs. Secret Phrase:
Before we get started, you may be wondering what the difference is between your wallet’s secret phrase and your wallet’s private key.
Your secret phrase and private key are actually quite similar. Both are used as a means for full access/control of your wallet(s). Each time you create a wallet, you generate not only a unique public wallet address, you generate both a private key and secret phrase.
The major difference (and possibly why you’re here!) is that your private key is associated with one wallet related to all the addresses that would be associated with your secret phrase.
Take a couple steps back, Rainbow creates “HD Wallets” which stands for hierarchical deterministic wallet. Your wallet has a cryptographic secret phrase that can be used to generate a primary wallet and an infinite number of sub-wallets.
👉 Let’s say you have 3 wallets: we’ll call them Wallets A, B, and C. Wallet A is your “main wallet”, the wallet that was initially created in Rainbow that also, simultaneously, created your secret phrase. Let’s then say that you created 2 new wallets in Rainbow: B and C. Now, you’re looking to import wallet B into another wallet provider, this is where your private key would come into play! If you were take the secret phrase, and import it, it would only import wallet A. In order to import wallet B, you’d need to export the private key.
You're able to get the specific private key of each address by accessing your Wallet Diagnostics page:
Head to your settings page by tapping the 3 dots in the upper right hand corner.
You’ll want to tap 15 times on the version number that appears at the bottom.
👉 If the Wallet Diagnostics screen doesn’t pop-up after 15 taps, keep tapping! The screen will eventually display.
In order to copy the private key from the specific address you're looking for, you'll want to make sure you're looking at the wallet address under the Type: privateKey and then click Copy.