For those who don’t know it, when you create a wallet and asked to save the seed phrase words, this very seed phrase words could be used on other chains too, to import that initial existing wallet already created.
So, instead of having thousands of different wallets each with different seed phrases words, you can just select the option to import existing seed phrase on the chain you’re accessing and using the same first seed phrase, you will be able to import the already existing wallet on this chain.
Before you ask: **No, it won’t delete or overwrite your existing holdings.** If you’re importing it on a different chain having same chain network, it will load your existing holdings. If it’s not a compatible chain, it will just use the same seed phrase words to create a new wallet on the chain still not deleting your existing data on the other chains.
*Hence why your seed phrase words are coined your private key; with the ability to be used as “keys” onto other chains and decentralized wallet such as Metamask, MEW, Trust wallet, etc to load your “wallet”.*
Hope this help and avoid you as of now the need to track and backup thousands of seed phrases words for hundreds of wallets!
**Note: Never share your seed phrases online and real customer support will never ask you for that piece of information**
Probably not the best idea, If someone can hack one account they would be dumb not to try other wallets.
I think it is risky in the sense that some opt to assign the same phrase to multiple wallets.
At that point, you might as well stuff everything in a single wallet
I never knew this existed thanks
Isn’t the purpose of having different wallets to secure them with different seed phrases?
Really? Thousands of wallets? You guys must have a lot more money than I do. I’d have like $1 per wallet (if that) if I did that!
If I have a seed phrase in Trust Wallet, can I also import that same seed phrase in Metamask since it’s just pointing to the blockchain rather than ‘storing’ it in my Trust Wallet?
Indeed, I’m already doing that. Thanks for sharing!
Do you guys have thousands of wallets?
I have one wallet and I have remembered the seed phrase and I’m good
How many wallets do y’all have geeze
Until you download some comprised software then all coins on every chain are gone.
please don’t follow this “advise” please don’t
This is very informative to all. I have only one wallet which is a pali wallet that is filled with SYS and other alts that I know will definitely get bullish.