Topic: 2 ledgers but different seeds? (Read 220 times)
Like the others have stated, it's not a good idea to utilize the same keys (and I don't think it's possible). Anyways, the wise choice would be to use different ones for each.
I wonder if the OP is not asking about the password on the ledger (the PIN) ? You can have 2 ledgers with the same seed (restore the seed from the first on the other) but have two different PINs. I don't think it would be a very good idea though, as you might get confused and forget one PIN or use the wrong one.
Seems as though it would make things even more secure.
A 2-of-2 multisig is more secure, but it comes with several downsides as well.First of all, the entire security comes from the fact that both devices can't be compromised at the same time. If you store them both in your house, for example, then you have lost a significant amount of the security that a 2-of-2 multisig brings. Storing them geographically separate is more secure, but also far more inconvenient when you want to make a transaction.
Secondly, it is more expensive. Multisig transactions are larger than non-multisig transactions, and so you will pay a larger fee on every transaction you make using such a set up.
Thirdly, you need to have double the back ups, again in geographically separate locations. Do you have enough secure locations to keep all these things? If not, then again you are looking at more cost to start renting safe deposit boxes.
What's the purpose of having 2 hardware wallets yet having the same seed?
As a back up, so if one device breaks/is lost/is stolen, I don't have to restore my seed phrase on to a less secure software wallet.I can leave one at home and carry one with me.
I can leave one at home and one at work so I can access my coins from both locations.
One for me and one for my spouse/child/business partner/etc.
There are lots of reasons you might want the same seed on two hardware wallets.
What's the purpose of having 2 hardware wallets yet having the same seed? I don't see any use for this at all since having 1 hardware is already enough for you to store the same cryptocurrencies and if you will just be having problems with regards to you having accessibility of your crypto in different locations I think that won't really be a problem if you just bring your hardware wallet when you will do a transaction.
Just wondering how you guys work this. If you have 2 different ledgers but want to store the same crypto on each one, do you use different seed keys for each one or use the same seeds for both ledgers. Security wise, I would have thought having the same keys for each ledger would be more secure ?
All your public addresses that are holding the bitcoin are derived from the seed used, meaning if you have two different ledgers with unique seeds, theyre going to have different public addresses and that also means theyre holding different balances of btc.
If you want to have same balance showing on each ledger (I'm assuming youre doing this so you have two ledger devices to be safe in case you lose one), then the seed phrase needs to be the same for each.
Having the same seed on two different Ledger wallet is the same as having it in a single device and copy written on a piece of paper, security-wise. The latter might be even more secure.
However to add an extra layer of security to your funds and since you have two HW, you can create a 2 of 2 multisig wallet. This way no one can move your coins without access to both devices.
You can read more about how to create a Ldger multisig wallet here:
https://www.ledger.com/implementing-a-trustless-security-solution-with-hardware-wallets-and-multisignature
However to add an extra layer of security to your funds and since you have two HW, you can create a 2 of 2 multisig wallet. This way no one can move your coins without access to both devices.
You can read more about how to create a Ldger multisig wallet here:
https://www.ledger.com/implementing-a-trustless-security-solution-with-hardware-wallets-and-multisignature
I like the sound of this idea. Seems as though it would make things even more secure.
The only advantage of using the same seed on two different HWs may be that in the event of a failure of one, we automatically have an identical wallet on the other HW. Besides, the only thing that comes to my mind is that from time to time someone wants to change the device, and sometimes use the X model, and sometimes the S.
From a security perspective, two different seeds means you have to have a double backup, and one backup is never enough security so you need at least 2 backups of each seed - and it is desirable that they be stored safely in different locations. It may seem a little paranoid and exaggerated, but if you have a significant amount in BTC what I wrote is a relatively safe backup.
Security wise, I would have thought having the same keys for each ledger would be more secure ?
From a security perspective, two different seeds means you have to have a double backup, and one backup is never enough security so you need at least 2 backups of each seed - and it is desirable that they be stored safely in different locations. It may seem a little paranoid and exaggerated, but if you have a significant amount in BTC what I wrote is a relatively safe backup.
Security wise, I would have thought having the same keys for each ledger would be more secure ?
No, having a backup of your seed offline is much more secure than using another HW with the same seed as your backup or so. There's no difference of having the same seed on 2 different hardware wallets.Just use your hardware wallet just how it use to, just connect it to a desktop wallet such electrum and mycelium or other ledger live for mobile device.
Having the same seed on two different Ledger wallet is the same as having it in a single device and copy written on a piece of paper, security-wise. The latter might be even more secure.
However to add an extra layer of security to your funds and since you have two HW, you can create a 2 of 2 multisig wallet. This way no one can move your coins without access to both devices.
You can read more about how to create a Ldger multisig wallet here:
https://www.ledger.com/implementing-a-trustless-security-solution-with-hardware-wallets-and-multisignature
However to add an extra layer of security to your funds and since you have two HW, you can create a 2 of 2 multisig wallet. This way no one can move your coins without access to both devices.
You can read more about how to create a Ldger multisig wallet here:
https://www.ledger.com/implementing-a-trustless-security-solution-with-hardware-wallets-and-multisignature
Security wise, I would have thought having the same keys for each ledger would be more secure ?
What's the purpose of owning 2 ledgers and having the same seeds on it? I'd prefer to have each of them with different seeds for different purpose like retirement/holding - short term and long term. It's actually the same if you own 1 ledger and use the seed that it has generated. There's nothing wrong with that idea but I would put each of them in different secured locations just for the sake of backing up if it's for the same seed. You don't need to have 2 ledgers for backing up your only one seed like what Upgrade explained about writing on a paper. 
Just wondering how you guys work this. If you have 2 different ledgers but want to store the same crypto on each one,
Bitcoins are not stored in the wallet which holds it, but rather in the address. So if you generate a wallet address you can use the seed phrase to access it on as many wallet softwares or hardwares as you wishSecurity wise, I would have thought having the same keys for each ledger would be more secure ?
Doesn't offer any form of security in my opinion. It is imperative that you back up your seed phrase or private keys in a secure location, so if you lose your computer or hardware you can easily recover it, a ledger wallet is however not necessary for this. A back up can be done on paper an stored in a (or multiple) secure location.
You cannot store the same cryptocurrencies on two different seeds. One seed contains specific addresses derived from it, so each seed derives different addresses for you to use.
In order to have the exact same coins and addresses on both Ledgers, you have to use the exact same seed on both of them.
In order to have the exact same coins and addresses on both Ledgers, you have to use the exact same seed on both of them.
Just wondering how you guys work this. If you have 2 different ledgers but want to store the same crypto on each one, do you use different seed keys for each one or use the same seeds for both ledgers. Security wise, I would have thought having the same keys for each ledger would be more secure ?
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