Every Bitcoin address that exists has a matching private key that is saved in your wallet file. When it comes to using Pennsylvania Bitcoin ATMs, make sure that you are sure about the transaction you are about to make, because all transactions are final. You can also create a QR code to scan and receive Bitcoin using the QR code scanner; this makes it easier than ever to send or receive Bitcoin! You will generate a private key which is like a secret code that gives you ownership of the public address. News Politics. So, this private key is mathematically related to your personal Bitcoin address.