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brain wallet

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  • scarequotes commented on the word brain wallet

    https://www.gemini.com/cryptopedia/crypto-cold-storage-brain-wallets

    A brain wallet is a type of crypto cold storage in the form of a memorized private key or seed phrase. Originally, a brain wallet was a hexadecimal string. Now, brain wallets can be stored as a sequence of 12-24 words (often called a mnemonic). While they draw interest and fascination, the consensus opinion is that this storage method for bitcoin and other cryptocurrencies is not a secure or practical option.

    March 23, 2021