A brain walletWallets are a digital storage facility for digital currency. A wallets can exist as a software program on a computer... Read More relies on the user memorizing a seed phraseA seed phrase is a mnemonic passphrase consisting of a string of words used to generate deterministic wallets. Wallet recovery... Read More, password, or passphrase to generate a private keyA private key is a cryptographic number that allows individuals to sign transactions and create new receiving addresses for their... Read More, referred to as a passphrase-protected private keyA passphrase-protected private key is a type of digital signature that uses a cryptographic key to protect the information in... Read More. The advantage of this type of wallet is that the user can easily create and remember this type of wallet. Brain wallets may be more secure than regular private keys because they are not on a computer or other device that is susceptible to attack. However, if the user forgets their passphrase, they will lose access to their funds.
