Advice needed about creating multiple Bitcoin savings addresses

[5W-KILO]

I am still new to a hardware wallet, overlook my mistake if I  somehow sound stupid.

I have always use Bitcoin hot wallet so I have gotten used to it and there is one feature that I was used to, creating or opening extra Bitcoin wallet with same recovery seed.

Imagine I want to have

1. My personal Bitcoin address ( which I already did)
2. My marriage fund. ( As second BTC address )
3. House savings  ( As third BTC address)
4. My child Bitcoin savings ( As the last ).

Can I do the same on a hardware wallet?

Which one is best? Having all the four different Bitcoin addresses use same Recovery seeds or on a single recovery seed?

[OmegaStarScream]

i cannot comment on all hardware wallets but Trezor (Trezor suite software) does have that. It let you create accounts and then within each account, you have addresses that keeps changing each time you receive funds (for privacy purposes) and yes they're all from the same seedphrase.

You can give this a read here to make sure it's actually what you want to achieve:

https://trezor.io/guides/trezor-suite/manage-accounts-in-trezor-suite

[Cookdata]

I am still new to a hardware wallet, overlook my mistake if I  somehow sound stupid.

I have always use Bitcoin hot wallet so I have gotten used to it and there is one feature that I was used to, creating or opening extra Bitcoin wallet with same recovery seed.

Hot wallet and cold wallet both do the same work, the only difference is hot/software wallet keep your seed phrase and private keys on the internet while cold wallet keep them offline which of course the best.

Imagine I want to have

1. My personal Bitcoin address ( which I already did)
2. My marriage fund. ( As second BTC address )
3. House savings  ( As third BTC address)
4. My child Bitcoin savings ( As the last ).

Can I do the same on a hardware wallet?
Which one is best? Having all the four different Bitcoin addresses use same Recovery seeds or on a single recovery seed?

One seed phrase is enough, you can generate billions of wallet address, no need for multiple seeds.

You can do the same thing on hardware wallet but don't tradeoff privacy because it will look as if you are not doing anything to protect your privacy, don't spend these Bitcoin to the same address in the future else it's going to be obvious all the wallet addresses belongs to you.

[Charles-Tim]

Can I do the same on a hardware wallet?

Yes, but make sure you research about it before buying the hardware wallet of your choice.

Another example is that you can do that on Foundation Passport.

Which one is best? Having all the four different Bitcoin addresses use same Recovery seeds or on a single recovery seed?

Both are the best if you can make the passphrase character long. I also prefer to have just one seed phrase and many passphrase to open different wallets.

[BlackBoss_]

Imagine I want to have

1. My personal Bitcoin address ( which I already did)
2. My marriage fund. ( As second BTC address )
3. House savings  ( As third BTC address)
4. My child Bitcoin savings ( As the last ).

Can I do the same on a hardware wallet?

You have to know about Wallet and Addresses.

In one wallet, you can have many addresses that have its own private keys, but with HD wallet, if you lose your wallet mnemonic seed to someone, all private keys in that wallet will be accessible by another person and your bitcoins can be stolen.

So if you want to store bitcoins for different purposes, let's create different Wallets with each wallet is for a single purpose. With your example, you will need 4 wallets.

Remember to back up all the 4 wallets.
How to back up a seed phrase?

[ColdLava40]

Both are the best if you can make the passphrase character long. I also prefer to have just one seed phrase and many passphrase to open different wallets.

That's cool, I thought we could only use one passphrase with same seed phrase. I never knew we could use the same seed phrase multiple times with different passphrase.

With this one can literally avoid creating different seeds and just store his one seed then, memorise all the passphrase.

By doing this, is there any implications? Or does it in anyway have effect on the seed phrase.

I'll test this out and see how it works.

[OmegaStarScream]

By doing this, is there any implications? Or does it in anyway have effect on the seed phrase.

I'll test this out and see how it works.

It does not. If someone find the stored seedphrase and then try to recover the wallet, they will be able to, except it will be empty because you're actual funds would be stored at:

seedphrase Passphrase_A
seedphrase Passphrase_B
seedphrase passphrase_C

Obviously (IMO) this is a bit overkill especially if you're planning to create dozens of those. One could be sufficent as long as it's a strong passphrase that no one could guess and it's not physically stored anywhere.

[Lucius]

Can I do the same on a hardware wallet?

Yes, but make sure you research about it before buying the hardware wallet of your choice.
Another example is that you can do that on Foundation Passport.
~snip~

Somehow I don't think the OP is someone who would be suited to such a device, because to be honest, it's still one level higher than classic hardware wallets, and it costs at least $200 (for those in the US). I'm not saying that the OP wouldn't master the use of such a device with time, but most people have a problem with how to save one seed, let alone several passwords (Passphrases) without which the seed for each additional account is worth nothing.

[satscraper]

Can I do the same on a hardware wallet?

Yes, but make sure you research about it before buying the hardware wallet of your choice.
Another example is that you can do that on Foundation Passport.
~snip~

Somehow I don't think the OP is someone who would be suited to such a device, because to be honest, it's still one level higher than classic hardware wallets, and it costs at least $200 (for those in the US). I'm not saying that the OP wouldn't master the use of such a device with time, but most people have a problem with how to save one seed, let alone several passwords (Passphrases) without which the seed for each additional account is worth nothing.

Then OP might consider  AirGap setup, which supports BIP‑85 scheme for deriving child SEEDs from master Seed. This way they’ll kill not two but three birds with one stone. First, they will be able to have many independent sets of addresses to meet their needs. Second, it will simplify backup, since only the master seed needs to be backed up. And third, they will get the cheapest solution that does not fall short of hardware wallets. 

[dkbit98]

Can I do the same on a hardware wallet?

You can't use the same address you used in your old wallet and in hardware wallet.
To be more precise you can do this but that would be very risky since you would have to import old seed words, and thatn hardware wallet is useless.
In most wallets you can generate multiple addresses and give them labels, you can even create separate accounts.

Which one is best? Having all the four different Bitcoin addresses use same Recovery seeds or on a single recovery seed?

Open source, tested devices are the best option for hardware wallets.
There are several options to choose with different formats starting from Trezor, Keystone, Passport, or Keycard Shell.

[Forsyth Jones]

I believe the OP has already had their questions answered here. I just want to make clear that, in theory, a hardware wallet uses the same protocol as software wallets (BIP39). What changes is the way and how funds are stored. In classic hardware wallets, keys are generated and signed on a specific device to sign transactions and transmit information to the host (computer, phone, etc). In air-gapped hardware wallets, the latter offers greater security, keys are generated and signed on an isolated device that has no Bluetooth or internet connection, information is transmitted via QR code or SD card.

That said, all serious hardware wallet has a passphrase feature, so you can create as many passphrases as you want, as long as you know how to manage which funds belong to which wallet. You can do this by noting the first address generated by that wallet and something that identifies it as belonging to your passphrase X and Y. If the software wallet (the graphical interface only) supports fingerprinting, which is a unique identifier that each wallet has, you can write down this fingerprint and note it in your private address book, associating it with a specific passphrase (thefingerprint is a random 8-digit hexadecimal sequence that is different for each generated wallet, including different passphrases).

Passphrasing is a powerful feature, but it comes with managed benefits and risks and should only be used if the user really knows what they are doing.

I think you'll like Trezor, it's by far the easiest hardware wallet available and it's open source.