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I created a wallet for Ether using MyEtherWallet. I want to store Bitcoin now, but MyEtherWallet does not support it.

Since I prefer not having two remember two different seed-phrases, I was thinking of just reusing the 12 word seed-phrase of MyEtherWallet to create a new wallet on one that does support Bitcoin, for example Electrum (I know that Electrum doesn't use the standard BI39 protocol).

I can't think of any problem with doing this, but I'm kind of new to this, so maybe there's something I haven't thought of.

Is there something I'm missing here? Is doing this considered unsafe?

EDIT: I must add that for the time being and for the foreseable future, I do not plan to spend any crypto, only accumulate. My seed-phrase was generated on an old laptop that will never be connected to the internet. The only thing that ever sees the light of day is my public address, which I use to send crypto to my wallet.

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That would be a bad idea for multiple reasons:

  • It increase the risk of exposing your seed phrase since you gonna have to use it more
  • It limit recovery option, if you lost your seed phrase, you will loose access to both wallet
  • if one of your wallet software has a security vulnerability, you will lost fund on both chain
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  • Please see the edit.
    – mathboi
    Mar 29, 2023 at 19:05

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