this post was submitted on 27 Nov 2023
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If you don’t mind Ledger, it supports passphrases that allows you to create multiple wallets. And if I am not mistaken each passphrase can be attached to PIN. Haven’t used this feature in my Ledger device.
Yes , i have a ledger . It will allow me to have a 24 seed and one with a 25th/paraphrase , but no more. I want to manage wallets for my kids and would prefer to be able to do this with the same 24 seed and just different passphrases.
Looks like i will just have to buy another ledger for every 2 accounts i want?
I that case why don’t you keep it simple and create multiple accounts derived from one seed in Ledger Live?
Yeah probably having a separate seed for each kid is more convenient as you can give them it later, but I think it’s overcomplicated. In my opinion it’s better to manage all crypto with one seed and put them into different accounts in Ledger Live for the time being.
There is no need to keep track of multiple seeds and protect them. I would even advise against it. Keep it simple. In the future you can get your kids their own hardware wallets or whatever we will have at that time, set it up, send crypto to their new wallets and give them as a present.