Is it possible to use the same recovery seed for multiple digital wallets?

3 answers

• Nov 26, 2021 · 3 years ago
  Using the same recovery seed for multiple digital wallets is not recommended. Each wallet generates a unique set of addresses and private keys based on the recovery seed. If you use the same seed for multiple wallets, it means that all those wallets will have the same set of addresses and private keys. This significantly increases the risk of your funds being compromised. It's best to generate a unique recovery seed for each wallet to ensure maximum security.
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• Nov 26, 2021 · 3 years ago
  No, it's not a good idea to use the same recovery seed for multiple digital wallets. Each wallet has its own unique set of addresses and private keys, which are derived from the recovery seed. If you use the same seed for multiple wallets, it means that anyone who gets hold of that seed can access all your wallets. It's like having one key to open multiple locks. To protect your funds, it's recommended to generate a new recovery seed for each wallet.
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• Nov 26, 2021 · 3 years ago
  As an expert in the field, I can tell you that it's not advisable to use the same recovery seed for multiple digital wallets. Each wallet should have its own unique seed to ensure the highest level of security. At BYDFi, we prioritize the safety of our users' funds and recommend generating a new recovery seed for each wallet. This way, even if one wallet is compromised, the others will remain secure.
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