Can I use my 24 word mnemonic backup seed phrase that created on my Ledger Nano S on other devices that use a 24 word seed phrase? An example would be the Trezor hardware wallet.
1 Answer
You can use them, but you need to ensure that the hardware wallets use the same address derivation paths. For the hardware wallets you mentioned (Trezor and Ledger) both of them use the BIP 39/BIP 44 derivation paths, so that should work, especially in the case of Bitcoin. However care has to be taken for certain coins (ETH or any other ERC-20 for example) where these wallets do not use the same derivation paths.
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1Note that prior to Ledger Live, Ledgers used a non standard path for ethereum addresses - If you need to access those addresses, you need to use a Ledger with Ledger Live, or your mnemonic (loaded directly or via any hardware wallet) with wallets that allow you to select the derivation path, such as myetherwallet or mycrypto Jul 7, 2019 at 8:31