This isn't talked about enough:
Storing your mnemonic seed alone isn't enough, you also need to store the derivation path.
Ledger Live software is generally unusable on my (Debian Sid) system. It does enable RBF when creating a tx, but it doesn't allow you to bump the fee.
Had some serious issues when importing my seed into Electrum until I found out it was using an incorrect derivation path. Only when I (manually) fixed that, I could see I had > 0 satoshis.
Write it down to avoid panic ;)
This is a *very* good point but I think I'd add a couple of things to the discussion:
(1) there are only a few widely in-use paths as per bip44, see bip49, bip84 additionally for the two main segwit types. But it's a weak argument as things are complexifying, some wallets have other stuff, multisig, their own schemes etc (iirc electrum is not a standardised bip44 thing, or at least wasn't, earlier).
(2) This is only part of the problem, seeds need to encode metadata! See aezeed.
I didn't even know that :-O
Thanks for the info :)
@FreePietje how do i find the derivation path of my wallets, i use like 3-4 wallets that are all different, wasabi, electrum, cold card and green address...
Do a web search and/or ask the creators of those wallets.
And you should then try whether you can successfully restore your wallet into another one.
Please do it on an offline machine for security reasons!
This in and of itself proves my point.
It's in the help docs for Ledger (and GUI). While Electrum allows you to specify it during import, I can't seem to find it with an actual wallet ...
I haven't tried Wasabi myself yet, but this looks relevant: https://www.reddit.com/r/WasabiWallet/comments/9wrx4m/some_electrum_and_wasabi_mnemonic_seed/
This was a long winded (and hopefully more useful) way of saying: I don't know.
But you can find it out now, without being stressed out ;)
Ledger's derivation path can be more complex then I first realized (I only used 1 'account'): https://www.reddit.com/r/ledgerwallet/comments/7nxjax/derivation_path_for_bitcoin_segwit/
@FreePietje thanks for pointing me in the right direction. I appreciate it.
@FreePietje Doing some research and vulgarisation about back-up has been on my roadmap for months now, but I've never took the time so far. I'll see soon a friend of mine which is a real dev and lot more knowledgeable than I am, I want to talk to him about this, hope he can help
@Sosthene Sounds quite familiar 😂
I hope you can and will share what you'll learn and possibly come up with :)
(instance image by мøтħer ¢røω)