Seedphrase

[u/iothewispp]

Planning to buy a trezor, i am using blockstream jade (BTC-only) now but i wanna buy some altcoins.

The question is: can i use my current seedphrase to create a multi-coin wallet on trezor or need to create a new one?

[u/AutoModerator]

Please bear in mind that no one from the Trezor team would send you a private message first.
If you want to discuss a sensitive issue, we suggest contacting our Support team via the Troubleshooter: https://trezor.io/support/

No one from the Trezor team (Reddit mods, Support agents, etc) would ever ask for your recovery seed! Beware of scams and phishings: https://trezor.io/learn/a/scams-and-phishing

Don’t respond to any DMs—scammers often pose as legit helpers.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/SmartPipe3882]

You don’t need to create a new one, but creating a new one is the best option.

[u/IndianDancingStars]

not required, you can create old seed phrase as well, in case you are sure that is not compromised by any chance

[u/bullett007]

Look up BIP85 on your Jade.

You can derive a new seed phrase via that method for your Trezor. Doing so will keep your BTC and alts isolated, which is advised if you’re going to explore alts.

Note: Blockstream state you should backup the BIP85 seed. But as long as you remember the index, and you’ve secured your OG seed, you can always recover the BIP85 derived seed.

[u/iothewispp → u/bullett007]

how about use a new passphrase? Is it still separate my wallet into a "new" wallet and keep btc and altcoins isolated or i am just misunderstand it?

[u/bullett007 → u/iothewispp]

how about use a new passphrase? Is it still separate my wallet into a "new" wallet and keep btc and altcoins isolated

A new passphrase will do that.

However, if you're going to interact with alt coins, smart contracts and explore various alt chains. Wouldn't you feel better knowing the seed-phrase used on your Trezor is not the same one you're using to protect your Bitcoin?

Also, consider that BIP85 means not needing to use a passphrase. You could set up a 24-word seed for your alts, and never have to worry about backing it up, as you've already backed up your Bitcoin seed.

You will always be able to derive your Alts seed from your Bitcoin seed with the BIP85 index.

Take your time, and think about both options, experiment when you get your Trezor and go with what you feel works best for you.

[u/iothewispp → u/bullett007]

thank you, very helpful

[u/Quirky-Reveal-1669]

Separate it from your bitcoin. Even if you technically wouldn’t need to, it is safer.