Yes, you can use the same seed phrase (recovery phrase) to set up multiple Ledger devices. Each Ledger device will generate the same set of addresses and private keys based on the shared seed phrase. This can be useful for creating backups or redundant hardware wallets.
Nonetheless, it is crucial to take into account the following:
1. Security Implications
While using the same seed phrase on multiple Ledger devices can provide redundancy, it also increases the risk if any of the devices are compromised. If one device is lost or stolen, the seed phrase can be used to access the funds on all devices. Therefore, it is crucial to keep the seed phrase secure and confidential.
2. Backup and Recovery
If you are using the same seed phrase on multiple Ledger devices, it’s essential to ensure that you have reliable backup options for the seed phrase. Losing access to the seed phrase could result in the loss of all funds associated with the addresses generated from it.
3. Duplicate Addresses
Since each Ledger device generates addresses deterministically based on the seed phrase, using the same seed phrase on multiple devices will result in the same set of addresses being generated on each device. This means that transactions sent to any of these addresses will be accessible from any of the Ledger devices.
4. Usage Considerations
Consider the specific use case and requirements before deciding to set up multiple Ledger devices with the same seed phrase. For some users, it may be more appropriate to use separate seed phrases for each device to mitigate risk and enhance security.
In summary, while it is possible to use the same seed phrase on multiple Ledger devices, it’s essential to weigh the security implications and ensure that proper measures are taken to safeguard the seed phrase and associated funds. If you decide to proceed with multiple devices sharing the same seed phrase, make sure to have robust backup and security practices in place.
