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.
this post was submitted on 27 Nov 2023
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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.
Wait, you can use any passphrase you want. It doesn’t allow you to use two different passphrase associated to different PINS?
SafePal Wallet may be what you are looking for, it has a software and a hardware version.
You can generate any number of seeds from one ledger. Not practical since you have to restore it when you want access but doeable. Just store the seeds properly.
Trezor
trezor. with passphrase feature, you have unlimited number of wallet :)
Wrench attack only occurs if u are open with your money in crypto.
Maybe u need to change friends?
Nobody random will ask for your seed phrase
Yeah, probably being humble about your crypto and not talking too much related to it will be more than enough to avoid any kind of wrench attacks.
Actually, it’s the same way as with fiat money, you don’t talk much about your bank accounts, do you? And with all due respect, I don’t think OP has whale amount of crypto.
Not sure why people in crypto tend to make things more complicated. Crypto is already not the easiest and most intuitive thing and adding more complexity to it won’t do any better.
I plan on traveling internationally. With crypto adoption being much higher in places like Turkey and increased wallet familiarity increasing all the time. I really want a way to make people think they have gotten everything.
If u travel to turkey come visit me.
I'd like to wrench u... I mean get to know u.
Not disparaging Turkey , your chances of getting mugged in Turkey are very low, adoption rate is like 50% there though. Only 15% where i am.
It won't be many years until everyone knows what a hardware wallet is.
Then why don’t you use a hot wallet? Hardware wallet is not the best thing for traveling. Just move some crypto to your hot wallet and travel with peace of mind.
You don’t take all your bank accounts on a trip with you, right? Usually it’s some cash or credit card but not your life-savings. Despite hardware wallets being called “wallets” they are more of your self-custodial “bank”. And hot wallets on you mobile phone are classical wallets that you carry around.
I think some hot wallets have this “dummy” wallet feature. Can’t remember which ones but I definitely saw it.
I don't know exactly but Elon Musk just tweeted that everyone should be using a ledger. You can check it out here https://imgur.com/gallery/PCrBt7R
Cypherock does, recently wrote a little review here: https://www.reddit.com/r/ethfinance/comments/1812a9r/comment/kac67ye/
Trezor has a passphrase which is combined with your seed to add a new derivation sequence.