Hello, I interact with a smart contract to receive an allocation via MEW.
If I use the:
transferOwnership(address newOwner)
or
renounceOwnership()
call functions, does that make my private key exposed in any way? Sorry if this is a really silly question. Thank you in advance for your time
No, it won't. It will only take the public key (i.e. address) of the wallet and act on it.
Thank you. Is there anything I should be aware of regarding transferring ownership or removing ownership in general? As a laymen it concerns me as I have to connect my ledger to MEW in the first place. Thanks again for your help
If your token contracts have a reflection mechanism, then you would want to be very careful about renouncing ownership, because if not all necessary wallet addresses are excluded from reflection, some trading bots can drain your liquidity slowly and gradually without being noticed. An example can be found here.