I always read about public keys,private keys and speedphrases that you need to store them in a paper wallet or hardware wallet. The only thing I ever stored are the passphrases (those 12 or 24 words) I get from metamask or other wallet provider in the beginning of creating a wallet. Is this enough when I write them down and secure them?
Due to the fact that one seed phrase can generate multiple wallet even of the same currency I write down a bit more than just the seed phrase.
I also write down the derivation path of the wallet I used to create the adress and the corresponding address itself. That way I still know in years what to do with an old seed phrase aka. how to derive the right wallet. Because even today some wallets use different derivation methods and they migth be subject to change in the future.
New fear unlocked for average users haha don’t go scaring people now :)
Haha. Well I don’t think it is that big of an issue. Big changes to the derivation methods would definitely throw many users under the bus so that either never happens or if it happens the old way of deriving your wallet will quickly be well documented. I personally still feel better by writing down the derivation path. That way I am not dependent on anyone at anytime.