What is a Brain Wallet?

[madcappp]

What is the difference between a Brain Wallet and a Paper Wallet?

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[PenAndPaper]

Paper wallets are when you keep your private keys in paper.
A brain wallet is when you create a private key (and thus an address) from a pass phrase. That way you only need the pass phrase to recreate the private key and use the coins from the address whenever you need to.

[J35st3r]

Be careful with brain wallets. You need a strong passphrase or else your coin is at risk of being stolen by hackers. Strong passphrases are not easy to create (and even more difficult to remember without writing them down, which effectively makes it a paper wallet too).

Have a read of this thread https://bitcointalk.org/index.php?topic=251037.0

[hexdecode]

Brain wallets are a fun idea but for the most part your coins will get stolen if it's something you're likely to be able to remember. Also amnesia would make this suck.

[u9y42]

Also amnesia would make this suck.

Good point. : D

And there is always the risk of keyloggers and the like.