Difference between revisions of "Brainwallet"
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| − | Brainwallets are | + | Brainwallets are similar to the mnemonic seeds generated by hardware wallets, only the human user generates the words themselves and memorise them without any written record. |
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| + | The mnemonic seed/ passphrase is never written down. It is 'stored' in the holders brain. | ||
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| + | If the holder forgets the passphrase (or becomes incapacitated), the money is likely lost forever - not a very secure storage method. | ||
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| + | Creating randomness in passphrase words is extremely difficult to do by hand, therefore security is again compromised. | ||
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| + | It is possible to use a [[https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki BIP 39]] passphrase generator to get strong entropy/ randomness and optionally add a salt value to this for additional security, however storing anything in the human brain carries inherent risks. | ||
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| + | Use a brainwallet at your own (high) risk. | ||
Revision as of 15:58, 23 December 2019
Brainwallets are similar to the mnemonic seeds generated by hardware wallets, only the human user generates the words themselves and memorise them without any written record.
The mnemonic seed/ passphrase is never written down. It is 'stored' in the holders brain.
If the holder forgets the passphrase (or becomes incapacitated), the money is likely lost forever - not a very secure storage method.
Creating randomness in passphrase words is extremely difficult to do by hand, therefore security is again compromised.
It is possible to use a [BIP 39] passphrase generator to get strong entropy/ randomness and optionally add a salt value to this for additional security, however storing anything in the human brain carries inherent risks.
Use a brainwallet at your own (high) risk.