Model T ..installing a new wallet with old backup phrase

Good day all! I have 2 Model T’s here. One I just have and the 2nd is my back up. Question: even if I don’t need to yet … what happens if I use the back up phrase on the new Model T … does the old wallet become unusable or will I have 2 wallets with the same account / coins? such that one I can store safely at home and I can travel with the other one ?? then I can use either wallet to access my accounts?
Is that possible?

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Hello jbond1911, I can help answer that question.

When you use the backup phrase (also known as the recovery seed) from one Trezor Model T on another device, you effectively clone the wallet. This means you will have two hardware wallets (Trezor Model T’s in this case) with access to the same set of accounts and funds. Both devices will be able to independently sign transactions and manage your crypto assets.

In your scenario, if you set up the second Model T with the backup phrase from the first one, you will indeed have two wallets that can access the same accounts and coins. This setup allows for redundancy; if one device is lost, damaged, or stolen, you can still access your funds with the other device. It’s a common strategy for managing the risk associated with physical device storage.

However, it’s important to remember a few key points:

  1. Security: Both devices will have equal access to your funds. If one is compromised, your funds are at risk. Ensure both devices are kept secure.
  2. Backup Phrase Security: The security of your funds is as strong as the security of your backup phrase. Keep it secure and never share it with anyone.
  3. Usage: While you can use both devices interchangeably, remember that any transaction or change made on one will be reflected on the other, as they are accessing the same set of keys.
  4. Updates and Maintenance: Both devices will need to be maintained and updated regularly to ensure they function correctly and have the latest security updates.

In summary, using your backup phrase to set up a second Trezor Model T is a viable way to have a redundant and portable access method to your funds. Just be sure to manage the security of both devices and the backup phrase with utmost care.

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This was OUTSTANDINGLY useful. Thanks so much!

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