Bip-85 Coldcard vs. Passport
168 sats \ 6 comments \ @graben 11 Jul 2023 bitcoin
I am currently considering moving to Coldcard or Passport. One of the main areas I am most excited about is having two separate accounts in Sparrow with one hardware wallet. Is this possible with both? By this I want to keep funds and utxo's separated between the two.
I'm regards to Bip-85 are the capabilities and use the same? In each wallet could I create private keys for Phoenix and Nostr and also label what they are for as well?
Thank you in advance everyone!
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10 sats \ 3 replies \ @wrangler 11 Jul 2023
For the first question, yes you can create multiple account derivations that are associated with one seed on either of those devices, and import them to a wallet such as Sparrow.
On the second question, I know a recent Passport firmware update enabled child seed functionality and nostr key generation. Not sure exactly how Coldcard compares in that regard, but after a quick search of BIP-85 it seems it’s supported:
https://bip85.com/
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10 sats \ 2 replies \ @graben OP 12 Jul 2023
Thank you for the information. It seems Foundation is a little better as it has a key manager that you can name the different keys you generated.
Seems that Coldcard you would need to write down what index number you used and for what.
https://foundationdevices.com/tag/bip85/
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10 sats \ 0 replies \ @wrangler 12 Jul 2023
Your welcome. Your post looked lonely, and possibly the first opportunity I’ve had for first reply on SN. ;)
Safe to say Foundation devices focus on UI/UX through aspects like one you just mentioned is a distinguishing factor when comparing the these two hardware.
In the end, it’s best for everyone to do their own research, and assess what is more suitable to them. But there are many here who like to help, so I’m sure you’ll receive more information.
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0 sats \ 0 replies \ @pajdo 12 Jul 2023
Coldcard has something similar coming soon, I think they named it seed vault. As I understood, it allows you to store and label multiple ephemeral and BIP-85 seeds.
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0 sats \ 0 replies \ @pajdo 12 Jul 2023
Unfortunately you can't use your own seed for Phoenix, it needs to be generated by Phoenix itself (or so their warning said, didn't want to risk it).
In my experience, similar applies for Bisq and Umbrel Lightning Node.
I was excited to completely get rid of paper backups using BIP-85, but seems not all seeds are created equal.
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0 sats \ 0 replies \ @duvel 12 Jul 2023
Unfortunately I can't answer your question, but this BIP85 guide with Coldcard and a 2-of-2 multisig setup could help: https://twitter.com/vazertuche/status/1675905986391949312
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