What is a brain wallet - animated explainer?

What is a brain wallet - animated explainer?

Bitcoin is one of the most popular crypto-currencies today. People love this new digital currency for its security, anonymity and freedom benefits. However, there are risks associated with this type of cryptocurrency. For example, your private keys can be stolen or hacked. If you lose access to your private keys, you lose control of your money. But rest assured because there are several ways to secure your e-wallet.

In this video, we will discover a new technology called Brain wallets that will allow you to secure your e-wallet and at the same time, prevent you from losing all your money.

We advise you to sit comfortably and watch this video until the end because we will explain in detail what a Brain wallet is and how to create one to back up your cryptocurrencies.

What is a Brain Wallet?

A brain wallet is a type of cryptocurrency wallet in which its start phrase is created by ourselves to facilitate the support of said wallet, this is instead of using an algorithm as it is normally done in other types of wallets. For example, in the case of Bitcoin, its passphrase in this type of wallet is used to recover your bitcoins. This is the only way to recover your bitcoins if you lose access to your private keys. A Bitcoin brain wallet can also be used to store other cryptocurrencies like Litecoin, Ethereum and Dogecoin.

Once you have memorized the private key, the logic is that you can access your crypto wallet from anywhere in the world, as long as you have access to the Internet. This is especially useful because if you have to leave your country in a hurry, your crypto-currencies will always be with you.

It is a very secure way to keep your funds safe and out of reach of third parties. The Brain wallet allows you to store your coins securely offline and use them to make transactions, without having to entrust your private keys to a third party.

This security is based on a series of words or phrases that a person can easily remember. You can think of a brain wallet is a wallet in which the starting phrase of your private key can be stored. Thus, it is stored in your brain, and in case you need to access it, you just have to remember this information and thus get control of your coins.

Видео What is a brain wallet - animated explainer? канала Crypto Decoded