What are the pros/cons between using a passphrase(with existing seed phrase) to create multiple coin/token accounts, vs new seed phrase to create a new wallet (in effect also giving you another set of accounts for some coins/tokens)? How/when do you choose one over the other?
Using a seed for multiple accounts is for privacy, but not for security. If the seed is stolen, then, all the accounts will be stolen. But if you want privacy and not mix certain activities you have online with your main wallet, you don't need another seed. The pro is that you don't need to remember all the seeds and normally you can access all the accounts with the same app. The pros of new seed phrase is about the risk of the previous seed phrase being stolen. So you use a new seed phrase in case you want to risk using a service that you don't trust or when you want to share an account with someone.
So private keys are the ultimate beaude whoever has them.i.e the issuer claims ownership to the funds,so does that mean the issuer of lets say sologenic,coreum,hbar,etc can claw them back and freeze them if you have a seed phrase wallet instead of the complete code of private key?
No,you never give your private or seed phrases to anyone. Watch how to send crypto on whatever wallet you have on youtube. Watch it about 10 times and you'll have it locked down. Theres a difference between private keys,public
Do you prefer seed phrases or private keys?? 🧐🧐
you explained it so well, love your channel ❤
Experience the future with the LFI smartphone, Mint on the go and watch your assets grow.
What are the pros/cons between using a passphrase(with existing seed phrase) to create multiple coin/token accounts, vs new seed phrase to create a new wallet (in effect also giving you another set of accounts for some coins/tokens)?
How/when do you choose one over the other?
Using a seed for multiple accounts is for privacy, but not for security. If the seed is stolen, then, all the accounts will be stolen.
But if you want privacy and not mix certain activities you have online with your main wallet, you don't need another seed.
The pro is that you don't need to remember all the seeds and normally you can access all the accounts with the same app.
The pros of new seed phrase is about the risk of the previous seed phrase being stolen. So you use a new seed phrase in case you want to risk using a service that you don't trust or when you want to share an account with someone.
Hi, does the generators of seed phrases know of the existing seed phrases already created? so as not to generate the same one?
Its easier to choose the same atom of the universe as someone than the same crypto wallet as someone 😂
So private keys are the ultimate beaude whoever has them.i.e the issuer claims ownership to the funds,so does that mean the issuer of lets say sologenic,coreum,hbar,etc can claw them back and freeze them if you have a seed phrase wallet instead of the complete code of private key?
No, because the seed is just a simple translation of the private key.
It is algorithmic and should always return the same result.
Yeah
So if a private key gets compromised then the other private keys generated by your seed phrase won’t be affected at all, isn’t it?
Absolutely! But if the seed phrase is compromised, all private keys are exposed
what happens if the wallet is defunct?
A wallet is never defunct. It can only be abandoned.
Certain tokens have freeze ability, and certain wallets can get dirty.
is it safety to give other our private key?
No
No,you never give your private or seed phrases to anyone. Watch how to send crypto on whatever wallet you have on youtube. Watch it about 10 times and you'll have it locked down. Theres a difference between private keys,public
❤❤❤
Private keys