What is a brain wallet?
A “brain wallet” is a method of cold storing crypto... in your head. Yes, there is such a thing, too 🙂
In order to create a brain wallet, you must come up with and memorize a lengthy phrase (at least 8 words), which is then hashed, from which you can derive the public and private wallet keys.
By using “brain storage,” you can keep this sentence entirely in your head and avoid having to write it down anywhere.
It’s a fun yet unsafe way to work with crypto:
▪️ First, to put it mildly, if something happens to the user’s brain, access to the wallet is lost forever.
▪️ Second, the phrase can be forgotten.
▪️ Thirdly, such phrases are much easier to hack than our usual seed phrases of 12 or 24 random words.
But there are also advantages:
You definitely don’t have to fear that someone will find your seed phrase written on a piece of paper and steal your crypto 😅
However, we must repeat: This is an unsecure method of storing crypto, and we don’t recommend it.
A “brain wallet” is a method of cold storing crypto... in your head. Yes, there is such a thing, too 🙂
In order to create a brain wallet, you must come up with and memorize a lengthy phrase (at least 8 words), which is then hashed, from which you can derive the public and private wallet keys.
By using “brain storage,” you can keep this sentence entirely in your head and avoid having to write it down anywhere.
It’s a fun yet unsafe way to work with crypto:
▪️ First, to put it mildly, if something happens to the user’s brain, access to the wallet is lost forever.
▪️ Second, the phrase can be forgotten.
▪️ Thirdly, such phrases are much easier to hack than our usual seed phrases of 12 or 24 random words.
But there are also advantages:
You definitely don’t have to fear that someone will find your seed phrase written on a piece of paper and steal your crypto 😅
However, we must repeat: This is an unsecure method of storing crypto, and we don’t recommend it.