Public Key: This is your wallet's address. It's like an email address that you share with others to receive cryptocurrency. You use your public key when you want to receive funds.
Private Key: This is like a password that allows you to access and control your funds. Never share your private key with anyone. You use your private key when you want to send funds, pay for gas, or sign transactions.
Mnemonic Phrase: This is a set of 12-24 words used to recover your wallet if you lose access to it. Keep this phrase safe and secure, as anyone with access to it can take control of your funds.