I keep my ADA on Daedalus. I keep my seed phrase on a piece of paper, stored somewhere at home. Say the computer where I have Daedalus suddenly dies tomorrow, and becomes inaccessible and irreparable. As long as I have my seed phrase, I would be able to restore my wallet and balance on another computer, right? So, a few questions came to mind:
- Are digital assets (coins, native assets, NFTs) stored on the device where a wallet is installed, or on the blockchain?
- Do wallets store digital assets, or just private keys (which can be used to prove ownership of an asset)?