What is the brain wallet?
A Brain wallet is a standard wallet that generates its addresses by hashing a passphrase to create a private key and therefore a public key and result an address. Brain wallets, as apparent from their name, are a type of wallet where the user memorizes the mnemonic recovery phrase of their cryptocurrencies in their brain. This mnemonic recovery phrase is used to derive the private keys of cryptocurrencies. Its typicaly hard to remember or memorize private key directly because they're a long string of alphanumeric numbers.
Brain wallet creating suggestions:
To create a brain wallet, you only require a passphrase (I.E.A Mnemonic phrase of 4 6 8 12 or 24 words long). And thats why it goes without saying that the security of your funds is directly dependent upon the strength/complexity/difficulty of the passphrase you choose. Becasue if someone is able to guess your passphrase, you will lose all of your funds in an instant.
How to you create a brain wallet?
Making your Bitcoin brain wallet at brainwallet.io.
Advantages of barain wallets:
- Only you know the mnemonic in your brain so you just need to trust your memory.
- There's no written record or possibility of an online hack.
- Your brain wallet is always safe from hacking.
Where to find brain wallets for different popular crypto currencies:
Find out more at cryptoversal.com.