OwenG4now on Nostr: I understand wallets (hot or cold) are needed to generate seed phrases and keys to ...
I understand wallets (hot or cold) are needed to generate seed phrases and keys to move bitcoin. But are wallets necessary for static HODLing?
Is it possible to use a wallet to generate a seed phrase, transfer Bitcoin to that account, then after securing phrase, wipe the wallet and create a new seed phrase and allocate Bitcoin to it?
What are the advantages or disadvantages of diffusing reasonable amounts (larger that typical for daily use wallets) of Bitcoin over multiple, in a sense “accounts?”
Wouldn’t this improve security over “all in one account,” and provide granular transfer to “daily use” wallets or gifting?
Asking for a friend.🤫🤥
Is it possible to use a wallet to generate a seed phrase, transfer Bitcoin to that account, then after securing phrase, wipe the wallet and create a new seed phrase and allocate Bitcoin to it?
What are the advantages or disadvantages of diffusing reasonable amounts (larger that typical for daily use wallets) of Bitcoin over multiple, in a sense “accounts?”
Wouldn’t this improve security over “all in one account,” and provide granular transfer to “daily use” wallets or gifting?
Asking for a friend.🤫🤥