The wallets support "hidden" wallets on hardware devices with passphrases but you can't restore the wallet directly into Daedalus or Yoroi. Instead, you need to restore the wallet to a new Ledger device and then connect it to the software
By April 2021, there is no software solution for Cardano wallets that supports such combination.
There is an open source tool (and its extended fork) on the Github to convert such mnemonics.
It supports most of the wallets, unfortunately it does not support Cardano logic yet.
The only way to restore such a wallet is to use any physical cold wallets that ...
One of the biggest security threats right now is malware and key loggers.
That is why offline backup and hardware wallets are so important, as you try to shield your signing keys from your day to day computer.
You could use the method you have described on a dedicate laptop that has been airgapped (no network or outside world connection). However, hardware ...
The risk is the same as storing the encrypted login details of your bank account in a password manager.
However, the bank may have their own controls that limit withdrawal amounts, monitor/block suspicious activity etc.
So, although the risk is the same, the consequences can be different.
The primary vulnerability moves from the password manager to the ...
Yoroi dev here.
Yoroi uses 15 words because we think it's the best trade-off between security and convenience. Using more words may provide marginal security benefits, but you also have downsides like more difficulty if you want to memorise your mnemonics, more risk of writing down the wrong word or in the wrong order during backups, more inconvenience using ...
I'd take a look at this answer
It seems a very well resourced attacker would be able to find a used private key for 128bit seed.
This would be an attack on all keys in the network, not yours specifically.
For 256bit seed, it should be infeasible.
Having digital copies of your mnemonic set is always discouraged due to security issues.
However, if you really want to give a digital copy of your recovery phrase to a person I'd personally suggest to take a picture of the recovery phrase, encrypt the picture, compress the encrypted picture and finally encrypt the compressed file again.
Please take this ...