Asymmetric encryption uses two keys:
a public key for encryption
and a private key for decryption
Receivers openly share their public key
Senders use this public key to encrypt the data
The receiver's private key is the only key that can decrypt the data and is kept locally on their side
The public and private keys are created at the same time and are designed to work together in this way
It is typically slower than symmetric encryption
It is generally used for more secure and smaller data transactions, e.g. passwords, bank details