Post
Topic
Board Bitcoin Discussion
Re: Hardware Wallet Backup Key - Does it back up Alts?
by
Charles-Tim
on 11/08/2021, 00:40:54 UTC
The title should really say it all: If I backup my 24(+1) Seedphrase from my Ledger,
Bitbox, Trezor or whatever => Am I also backing up my Altcoins?
Trezor, Ledger Nano are HD wallets, the seed phrase generate a master private key, also a derivational part to Bitcoin and altcoins they support. You back up all the funds (Bitcoin +Altcoins supported) with just the seed phrase.