I was told I can have and store more that one wallet address on my hardware wallet. I suggest that I will have different public adress for any on them, different private keys for any of them, and different seed phrases for any of them – all stored in one device. Is all of that true?
I was told I can have and store more that one wallet address on my hardware wallet. I suggest that I will have different public adress for any on them, different private keys for any of them, and different seed phrases for any of them – all stored in one device. Is all of that true?
byu/WorkerPlayful4192 inBitcoinBeginners
Posted by WorkerPlayful4192
4 Comments
Once you have a seed and a wallet, infinite addresses can be created. Each address has their own private key, all derived from the seed. You only need the seed to access all addresses.
Yes.
A single wallet has so many addresses that you will never run out, even using a new one for every single time you put bitcoin into it.
You can have several “accounts” on your wallet, each account using their own set of addresses that won’t intermingle.
And you can use a passphrase feature on a trezor (I don’t know if others have this) to access entirely different wallets, each with their own set of addresses and accounts. These will have the same seed phrase, but the passphrase creates new wallets and is needed to access those wallets.
You could also set up different wallets with completely different seed phrases, but then you would have to restore the hardware wallet with the seed phrase every time you wanted access.
Each seed gives an practically unlimited number of addresses in an practically unlimited number of accounts.
Each with an unique key and public address.
Most hardware signing devices supports only a single seed phrase. There is no need for more than one seed.
ONE device = ONE seed phrase = ONE private key = millions upon millions of public wallet addresses.
All public addresses are generated from the same private key, which is in turn generated from the seed phrase. Your hardware wallet only stores one seed phrase, which is all it needs to get millions of different public wallet addresses.