Difference between revisions of "Brainwallet"
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| − | Brainwallets are like the mnemonic seeds generated by hardware wallets, | + | Brainwallets are like the mnemonic seeds generated by hardware wallets, however, the human user generates the words themselves and memorises them without any written record. |
The mnemonic seed/ passphrase is never written down. It is 'stored' in the holder's brain. | The mnemonic seed/ passphrase is never written down. It is 'stored' in the holder's brain. | ||
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Creating randomness in passphrase words is extremely difficult to do by hand, therefore security is again compromised. | Creating randomness in passphrase words is extremely difficult to do by hand, therefore security is again compromised. | ||
| − | 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 | + | 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 for additional security, however storing anything in the human brain carries inherent risks. |
Use a brainwallet at your own (high) risk. | Use a brainwallet at your own (high) risk. | ||
For a detailed tutorial on complex brainwallet creation, see [https://craigwright.net/blog/bitcoin-blockchain-tech/how-to-make-a-brain-wallet/ this] article by [https://craigwright.net/about/#biography Dr Craig Wright]. | For a detailed tutorial on complex brainwallet creation, see [https://craigwright.net/blog/bitcoin-blockchain-tech/how-to-make-a-brain-wallet/ this] article by [https://craigwright.net/about/#biography Dr Craig Wright]. | ||
Revision as of 02:00, 27 October 2020
Brainwallets are like the mnemonic seeds generated by hardware wallets, however, the human user generates the words themselves and memorises them without any written record.
The mnemonic seed/ passphrase is never written down. It is 'stored' in the holder's 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 for additional security, however storing anything in the human brain carries inherent risks.
Use a brainwallet at your own (high) risk.
For a detailed tutorial on complex brainwallet creation, see this article by Dr Craig Wright.