2 people on 1 Trezor

General topics
1

Hi, sorry if this obvious……but my wife and I have recently bought some crypto, is it possible that we both store our keys on the same trezor device or does it not permit this? Cheers

2

There are multiple levels of separation:

  1. Different accounts under the same wallet. If you use account #1 for your bitcoins and your wife uses #2, your coins won’t mix. However, you’ll have full access to each others’ accounts.
    Do this if you trust each other with your money; it’s the simplest, and also easiest to get to the other set of coins in case e.g. one of you dies or something.

  2. Different passphrase protected wallets. If you use the same Trezor, but each open a wallet under their own passphrase, you’ll get your own set of accounts and your wife gets hers. You can even have multiple passphrases each, as long as you both don’t choose the same one.
    This is kind of the middle ground; you still have the same backup seed words, so you’ll need to trust each other that the other won’t take the seed hostage. Or, you know, each make a copy and store it at your parents’ house.
    This still allows you to try to guess the other person’s passphrase, so don’t set it to your daughters names.

  3. Different seeds, recovered every time. You each create a wallet, back up your seed, and when you want to use it, you factory-reset the Trezor and recover your phrase.
    Don’t do this, I only mentioned it for completeness. You will mess it up one way or another. If this is what you want, just get two Trezors.

2 Likes
3

Hello,

I’m new to hardware wallets and picked myself up a Trezor Safe 5.

I was hoping there was a way both myself and my partner could use it and each have our own wallet(s) and recovery phrases.

I’m just wanting to make sure I set up the device in the correct / best way with this in mind and wanted to check if this is even possible?

I know in an ideal scenario, we would both have our own but at $280AU each it’s a bit of a cost that I was hoping to avoid at least initially until we’re both happy with it.

4

Hello @sammmm, please see the above answer.

In short: if you don’t trust your partner enough to share access to the seed, I highly recommend you get another Trezor.
Get the Trezor One as the second device, and you can upgrade to a better model if you feel like it later.