Advice on making seed phrase backup idiot-proof

I am preparing to move my ADA from Coinbase to a new wallet using Daedalus. Once that is done, I want to store the seed phrase offline and delete the application. For the next few years, I plan to just send funds to the wallet without ever spending.

I am confused because I keep finding conflicting information with regards to what data is necessary to make an idiot-proof paper backup and my technical understanding is rather limited. My goal is to include all the information necessary to recover the wallet.

My understanding is that the mnemonic alone is not sufficient. The paper backup needs:

  • the 24 word mnemonic seed phrase
  • the currency name, ADA
  • the type of wallet, Shelley era
  • the application used, Daedalus
  • the derivation path, m/44'/1815'/0'/0'/0

Now there is some redundancy in that 1815 signifies ADA and 24 words signifies Shelley era. Which leaves me with:

  • the 24 words mnemonic seed phrase
  • the application name, Daedalus
  • the derivation path, e.g. m/44'/1815'/0'/0'/0

Regardless of whether I wait until the Basho era and regardless of whether Daedalus still in use at that point, will these three pieces of information be everything I need?

Sorry for the beginner question and thank you for your time!

Cheers,

You will need to bkp only the 24 seed words and the spending password (wrote them on paper, on am usb stick which will be keep secure, etc)

With the 24 seed words u will be able to restore the wallets in order to access the funds in case u forgot the spending pssword or a new daedalus installation; of course other people will recommend ledger or trezor but it’s up to you if u will want to use or not…

few advices when u will create the wallet:

  • install daedalus only from official sources (daedaus is available ony for desktop; there is a fake app for mobile)
  • new wallet (shelley era)
  • write/bkp the 24 seed words
  • set the spending password (in case u will forget the spending password u will need to restore the wallet in order to set a new spending password) and the wallet name
  • send 10 ADA for test from coinbase to the new wallet
  • after u will see 10 ADA in daedalus then delete the wallet from daedalus
  • then restore with 24 seed words - new wallet (shelley era) - restore
  • if after restore u will see 10 ADA to the balance it means u bkped the right seed words
  • move all funds from coibase to daedalus
  • go to delegation center and delegate ADA to a pool for rewards (around 5% per year)

Now u can delete de daedalus and also all files asociated

Now, if u will want to check the status of ur coins or the rewards u can check the address
from daedalus (where the ADA where sent) on cardanoscan.io

Cheers,

why won’t you use a hardware wallet to keep your adas safety?
For me this solution seems not only more convenient but also more safe as a deleted and then restored software wallet.

Thanks for your time. To clarify:

You will need to bkp only the 24 seed words and the spending password
However, if my plan is to delete Daedalus after creating the wallet, the spending password becomes obsolete, correct?

a new daedalus installation;
What if Daedalus is no longer in use when I decide to restore the wallet or if I just decide to use a hardware wallet 5 years from now? Is the mnemonic universal for all future software wallets or do I need a this was created using Deadalus note alongside my 24 words?

Thank you!

why won’t you use a hardware wallet to keep your adas safety?

This is just personal preference, I’m having a hard time trusting a tiny plastic device like that. Buttons break, screens break, USB ports become obsolete… Also, I will need a offline backup of the mnemonic either way, regardless of whether I use a software or a hardware wallet.

However, if my plan is to delete Daedalus after creating the wallet, the spending password becomes obsolete, correct?

correct, when u will restore the wallet u can choose same or different spending password

What if Daedalus is no longer in use when I decide to restore the wallet or if I just decide to use a hardware wallet 5 years from now? Is the mnemonic universal for all future software wallets or do I need a this was created using Deadalus note alongside my 24 words?

daedalus will be available many years from now, it’s the official (IOHK) wallet for cardano and it’s running like a node (will download a copy of blockchain locally); also you can import the daedalus wallet in Yoroi (Emurgo wallet) and also on adalite.io, for sure in the future will be another options (be carefull that the daedalus is available only for desktop, there is a fake app for mobile - DO NOT USE IT!!!)

Also u can store the funds on LEDGER but ledger has own 24 seedwords which are not compatible with ADA wallets for the moment, so you will can’t restore the ledger in daedalus, yoroi or adalite.io

THE IDEA IS TO BKP THE 24 SEED WORDS as better you can (offline), but more copies (on paper, on usb, etc )

daedalus will be available many years from now, it’s the official (IOHK) wallet for cardano

Ok great, this gives me some peace of mind.

Also u can store the funds on LEDGER but ledger has own 24 seedwords which are not compatible with ADA wallets for the moment, so you will can’t restore the ledger in daedalus, yoroi or adalite

Oh crazy, that means if your Ledger device breaks after the company goes bankrupt your wallet is just lost?

Thanks!

hmm for the moment, for the Cardano yes; I don’t know what to say for the future.

A few added remarks for paranoid (or security-conscious =) people. Keeping your recovery seed as is makes it very easy for anyone else to restore your wallet, nothing forbids you to write down 48 words and use only half of them (as long as you remember which) or any other combination. As for working with sensitive materials from your computer (e.g. cryptographic keys), either you learn to work with RAM disks beforehand (no magnetic remanence in this case, and it’s quite simple on GNU/Linux) or you learn to use adequate tools like shred or wipe.

But why couldn’t you restore an ADA wallet using the very same 24-words recovery seed and the appropriate derivation path ? Of course, it will not make it work with Ledger, but you can have a corresponding Daedalus / Yoroi / Adalite wallet, no ? With no need for another recovery seed.