Bitcoin Forum

What is the difference between bitcoin wallet passphrase and private key? Which one is more important?

You choose the pass phrase!

The private key chooses you!

In that case if I lost my wallet file but still have the private key my bitcoins are safe?

Just import you private key to another wallet ... transfer the fund to another wallet (a wallet only you accces the wallet.dat file) and your BTC are safe



Import the key to blockchain.info .... or better just swipe it then transfer everything to your local wallet

The private key is needed to spend your coins, the passphrase protects the key as it is usually encrypted. In theory you dont need a passphrase for your privatekey and just store it in plaintext somewhere but that is not a goos idea, as anyone who can access your privatekey can spend your BTC.

A wallet contains one or more private key (and the associated addresses). A private key is what allows you to spend the bitcoins at that address. Many people use the term "wallet" incorrectly when they mean "address".

A wallet passphrase is simply the passphrase used to encrypt the wallet. If the wallet is not encrypted then anyone that gains access to the wallet can copy the private keys it contains and steal your bitcoins.

Precisely.

You need a private key, but you don't need a passphrase.



The private key is the most important, without it you won't have any bitcoins.

You do need to encrypt and backup your wallet.



Without encrypting your wallet, you also potentially won't have any bitcoins.

If he encrypted his wallet and all his backups, the passphrase will be just as important lol :)