I made a paper wallet backup for My Wallet in
www.blockchain.info It has my
www.blockchain.info user name, Mnemonic, Public key and Private key.
A few weeks later, I made another (second) paper wallet backup for the same My Wallet. I was surprised to see that the Mnemonic for the second backup was different. My questions are:
Why is the mnemonic different?
What is the Mnemonic used for?
Why do I need any other information other than my Public and Private Key?
Thanks for any answers.
Keep in mind that your online wallet stores public/private key pairs.
A paper wallet also stores public/private key pairs but they are printed on the paper. Whats nice about paper wallets is that they do not exist on a computer anywhere. So unless someone has physical access to the paper they cannot gain access to the BTC stored for that address.
I gather from your comments you might have thought the paper wallet key pair was specifically for your online wallet. They are totally different things and store different key pairs
