From that master seed, an unlimited number of currencies, accounts and addresses can be derived/calculated.
- This means that you only need to back up the master seed once, and the whole wallet, including all future transactions, can be recovered from this backup.
- The backup covers all cryptocurrencies secured with the BitBox02, including the ones you access via third-party wallets, like MyEtherwallet or Electrum.
- The backup represents your wallet. Anyone with access to it can access your wallet.
- Very important: Use the microSD card backup only with the BitBox02! Do not connect it anywhere else. Do not put it into a microSD card reader, or your computer.
The BitBox02 always creates a backup of your wallet on the microSD card that came with your BitBox02 during initial device setup. Optionally you can also write down your wallet backup in the form of 24 recovery words on paper or metal.