Brain wallets with human generated pass phrases are not recommended.
If you want something like a brain wallet install electrum on an offline PC. It'll be much safer and have more features too.
Topic: Private Keys vs. password (Read 657 times)
Thank you gentlemen!
Your private key is an encryption/decryption key known only to you. With this key you are able to do everything you can with a bitcoin address (spend, sign etc).
Using bitaddress.org:
Paper wallet - WITHOUT BIP38:
You are only given private keys that you must store
Paper wallet - With BIP38:
Your private keys are given encrypted and you must store the encrypted private key and the passphrase
Brain Wallet:
Your private keys are determined by the passphrase alone so you only need to store the passphrase (passphrase needs to be very strong to avoid brute force attacks)
Using bitaddress.org:
Paper wallet - WITHOUT BIP38:
You are only given private keys that you must store
Paper wallet - With BIP38:
Your private keys are given encrypted and you must store the encrypted private key and the passphrase
Brain Wallet:
Your private keys are determined by the passphrase alone so you only need to store the passphrase (passphrase needs to be very strong to avoid brute force attacks)
a private key can be password protected using BIP 38.
When Bitaddress generates your private keys for an offline paper wallet, is that your only password (the private keys) or is there any other reason to
invent a password for the paper wallet?
invent a password for the paper wallet?
Jump to: