GM, sorry for the noob question, but given Trezor as a company goes down (no software, device broken) and I only have my seed phrase, how will I be able to recover a specific hidden wallet?
I have 2 hidden wallets on my Trezor currently, so when I go input my seedphrase into another software or BIP39 compatible wallet, im wondering how to navigate to that specific wallet. Will they ask for my passphrase?
it looks like we both asked ourselves the same question. What alternatives are available?
Well, so far, I found Rabby as the SW wallet, that offers the Pass Phrase option. There is at least one HW wallet available.
But I’m open for other HW/SW wallets as well. If you find alternatives, please share.
One aspect you probably did not consider: The number of words of the Mnemonic Seed Phrase. This is one more important parameter in the equation.
Hi @Jdub and @Booyakasha,
In the event that Trezor or SatoshiLabs companies were to cease operations, your wallet’s security and accessibility would not be compromised.
Trezor wallets are not dependent on our servers or infrastructure to function properly. They operate independently and securely store your private keys within the device itself.
The open-source nature of Trezor’s hardware and software is a significant advantage in this scenario. The open-source design ensures that the codebase is publicly available and can be audited and implemented by the wider community.
This means that even if Trezor were to cease operations, developers and the community would still have access to the code and be able to continue supporting and enhancing the product.
The security of your funds primarily relies on the private keys stored within your Trezor device. As long as you have securely backed up your recovery seed (12 or 24-word recovery seed phrase provided during the device setup), you can always recover your wallet and access your funds using other software or hardware wallets because all of them support the BIP39 standard (although this is not recommended if you can still use HW wallet). You can use for example Electrum for BTC, MEW and MyCrypto for ETH, etc.)
thanks for the prompt response!!
So just to confirm, given I know my current passphrase, Seed, and have a BIP39 compatible wallet, I should be able to find my specific hidden wallet? I’m aware I can import my seed into another HW wallet, but was moreso worried about the assets in a specific hidden wallet.
Yes, that should be possible. In order to do a practical test and if you have the luxury of having resources available (time, patience and etc.) you can test this by yourself.
Do this if you feel confinable doing this ONLY!!! And never ever do this with you real wallet details!!!
- Create a NEW standard dummy wallet (maybe on a clean system, e.g. VM) with you Trezor (pick e.g. 12 words option)
- Add one more hidden wallet with a Pass Phrase
- Pick ETH as guinea pig coin and get the receive address of both wallets
- Create a new SW wallet by using the Mnemnonic_String (12 words) and compare the ETH address
- Create a new SW wallet by using the Mnemnonic_String (12 words) with the Pass Phrase and compare the ETH address
If the two addresses are identical, voila, here is your confirmation.