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Author Topic: Use two nano s ledger wallets, separate wallet accounts?  (Read 414 times)
Agraoleom
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December 03, 2017, 11:49:46 AM
 #1

I am thinking of buying another Nano S Ledger, for setting up a separate wallet account.

Is this possible, if so how do I do it?

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Euro1000
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December 03, 2017, 11:57:51 AM
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In the Bitcoin App (Chrome) you are also able to create several accounts. So, for your use case you do not have to buy a 2nd Ledger.

Mentioned here: https://www.ledgerwallet.com/apps/bitcoin
MULTI-ACCOUNT
All your BIP 44 Bitcoin accounts are managed within a unique interface, where you can send and receive, on-demand, in real-time.
Agraoleom
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December 03, 2017, 11:09:15 PM
 #3

In the Bitcoin App (Chrome) you are also able to create several accounts. So, for your use case you do not have to buy a 2nd Ledger.

Mentioned here: https://www.ledgerwallet.com/apps/bitcoin
MULTI-ACCOUNT
All your BIP 44 Bitcoin accounts are managed within a unique interface, where you can send and receive, on-demand, in real-time.


But I like the idea of using two Nanos as they will be less used, less likely for hardware failure, and two different pins, and set ups, and seeds.
And I will spread the risk if something goes wrong with one of them, losing the seed, etc...
OriginTrain
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December 04, 2017, 12:04:38 AM
 #4

You can just copy the seeds onto a piece of paper, and make multiple copies of those for each wallet. The actual hardware itself is not so important, as are the pieces of paper with your seeds.

RGBKey
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December 04, 2017, 12:15:18 AM
 #5

In the Bitcoin App (Chrome) you are also able to create several accounts. So, for your use case you do not have to buy a 2nd Ledger.

Mentioned here: https://www.ledgerwallet.com/apps/bitcoin
MULTI-ACCOUNT
All your BIP 44 Bitcoin accounts are managed within a unique interface, where you can send and receive, on-demand, in real-time.


But I like the idea of using two Nanos as they will be less used, less likely for hardware failure, and two different pins, and set ups, and seeds.
And I will spread the risk if something goes wrong with one of them, losing the seed, etc...


I wouldn't get a second ledger, you're just wasting money at that point. You might be interested in the plausible deniability options the Nano S offers. You should have a paper backup of your seed on the card that came with it anyways, so you don't need another device just to store your seed again. Even if your device breaks, if you still have the seed backed up (which you should), you can recover your funds without buying another device by importing it into a supporting wallet (source).

Agraoleom
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December 06, 2017, 04:42:52 PM
 #6

In the Bitcoin App (Chrome) you are also able to create several accounts. So, for your use case you do not have to buy a 2nd Ledger.

Mentioned here: https://www.ledgerwallet.com/apps/bitcoin
MULTI-ACCOUNT
All your BIP 44 Bitcoin accounts are managed within a unique interface, where you can send and receive, on-demand, in real-time.


But I like the idea of using two Nanos as they will be less used, less likely for hardware failure, and two different pins, and set ups, and seeds.
And I will spread the risk if something goes wrong with one of them, losing the seed, etc...


I wouldn't get a second ledger, you're just wasting money at that point. You might be interested in the plausible deniability options the Nano S offers. You should have a paper backup of your seed on the card that came with it anyways, so you don't need another device just to store your seed again. Even if your device breaks, if you still have the seed backed up (which you should), you can recover your funds without buying another device by importing it into a supporting wallet (source).


I have a seed card, but I don't want to store all my coins in one account with one seed. I want to spread out the risk.

So, is it possible to use two Nano S Ledgers with two separate accounts?

RGBKey
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December 06, 2017, 05:45:17 PM
 #7

In the Bitcoin App (Chrome) you are also able to create several accounts. So, for your use case you do not have to buy a 2nd Ledger.

Mentioned here: https://www.ledgerwallet.com/apps/bitcoin
MULTI-ACCOUNT
All your BIP 44 Bitcoin accounts are managed within a unique interface, where you can send and receive, on-demand, in real-time.


But I like the idea of using two Nanos as they will be less used, less likely for hardware failure, and two different pins, and set ups, and seeds.
And I will spread the risk if something goes wrong with one of them, losing the seed, etc...


I wouldn't get a second ledger, you're just wasting money at that point. You might be interested in the plausible deniability options the Nano S offers. You should have a paper backup of your seed on the card that came with it anyways, so you don't need another device just to store your seed again. Even if your device breaks, if you still have the seed backed up (which you should), you can recover your funds without buying another device by importing it into a supporting wallet (source).


I have a seed card, but I don't want to store all my coins in one account with one seed. I want to spread out the risk.

So, is it possible to use two Nano S Ledgers with two separate accounts?



Yes it's possible, but there really isn't any reason to it. I suppose if you're really paranoid you can put them in different physical locations, but seeds are uncrackable, people can't just guess them.

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December 06, 2017, 05:50:41 PM
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I have a seed card, but I don't want to store all my coins in one account with one seed. I want to spread out the risk.

You may should think about how you are spreading the risk.
I don't really see a reason to buy a second HW wallet. Im not even sure if thats more secure than only having one.
I understand why you wouln't want to keep all of your coins on one address. But 1 HW wallet is enough.

You must think about the threat you are exposed to. If you fear from getting malware on your pc.. then 1 ledger is as safe as 2 are.
If you fear of someone cracking your private key.. there is also no difference between owning 1 or 2 ledgers.
In case of a fire both get destroyed. (Yes, you could store them seperately.. but you also could do this with our seed-sheet)
The only case, i see, where 2 ledgers would be better is when you get robbed. In this case you can hide 1 and only give up the other (seed or device).


So, is it possible to use two Nano S Ledgers with two separate accounts?

Of course. There is no reason why this shouln't be possible.

Euro1000
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December 06, 2017, 06:12:48 PM
 #9

For your use case I do not see any advantages in terms of "more security" for buying a second ledger.

Another use case could be: What do you do if your ledger gets broken? Buy a 2nd one? Perhaps you have to wait some weeks until you get it (Ledger had some distribution problems some month ago). Or will you upload your seed into a software wallet?

Agraoleom
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December 06, 2017, 06:23:36 PM
 #10

I have a seed card, but I don't want to store all my coins in one account with one seed. I want to spread out the risk.

You may should think about how you are spreading the risk.
I don't really see a reason to buy a second HW wallet. Im not even sure if thats more secure than only having one.
I understand why you wouln't want to keep all of your coins on one address. But 1 HW wallet is enough.

You must think about the threat you are exposed to. If you fear from getting malware on your pc.. then 1 ledger is as safe as 2 are.
If you fear of someone cracking your private key.. there is also no difference between owning 1 or 2 ledgers.
In case of a fire both get destroyed. (Yes, you could store them seperately.. but you also could do this with our seed-sheet)
The only case, i see, where 2 ledgers would be better is when you get robbed. In this case you can hide 1 and only give up the other (seed or device).


So, is it possible to use two Nano S Ledgers with two separate accounts?

Of course. There is no reason why this shouln't be possible.



So how is this possible?

I assume, just buying another ledger? And then can use the same app with both ledger nanos?
And they will automatically have 2 different set of seed words and separate accounts?
bob123
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December 06, 2017, 07:07:37 PM
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So how is this possible?

I assume, just buying another ledger? And then can use the same app with both ledger nanos?
And they will automatically have 2 different set of seed words and separate accounts?

The Bitcoin Chrome App (and every other app by ledger) is just an interface to 'speak' with your nano s.
So yes, you just have to buy another one and initialize it with a new seed (the ledger nano s automatically generates a new random seed upon initialization).
They will be completely seperated and there is no connection between those two nanos.
Not sure what you mean with 'account'. You can create several accounts in a ledger nano s. This is for coins not getting 'mixed up' between those two accounts.
But those two ledgers will be completely different wallets, if thats what you meant with account.

Agraoleom
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December 07, 2017, 01:32:26 PM
 #12

So how is this possible?

I assume, just buying another ledger? And then can use the same app with both ledger nanos?
And they will automatically have 2 different set of seed words and separate accounts?

The Bitcoin Chrome App (and every other app by ledger) is just an interface to 'speak' with your nano s.
So yes, you just have to buy another one and initialize it with a new seed (the ledger nano s automatically generates a new random seed upon initialization).
They will be completely seperated and there is no connection between those two nanos.
Not sure what you mean with 'account'. You can create several accounts in a ledger nano s. This is for coins not getting 'mixed up' between those two accounts.
But those two ledgers will be completely different wallets, if thats what you meant with account.

Yes, thank you, sorry, I wasn't being clear, yes, I mean different set of seed words. So if I lose one set of seed words with 50% of my coins, I will still have access to the other 50% as they are accessed with another set of seeds.

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December 08, 2017, 03:17:45 AM
 #13

Yes, thank you, sorry, I wasn't being clear, yes, I mean different set of seed words. So if I lose one set of seed words with 50% of my coins, I will still have access to the other 50% as they are accessed with another set of seeds.
Or you could make two copies of one set of seed words... and if you lose one copy, you'll have access to 100% of your coins as you'll have the other copy Wink

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