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I am using the Blockstream self custodial wallet on Android. I have created a wallet, backed up the 12 words, and put some on-chain coins in it. But the wallet also allows me to receive/send Lightning and Liquid coins. Are those coins retrievable by the same BIP 39 seed phrase?
That means, suppose I put some liquid and lightning coins there, with address/invoices generated by the app. Then, if the device dies, can I restore my assets on another device by putting in the same seed phrase? Specifically,
  • the on chain coins (I think I can)
  • the liquid BTC
  • the lightning coins
Or, is my device a single point of failure? If so, I do not dare to use lightning at all, as it seems all my coins can disappear if my device dies without warning which can realistically happen any time to anyone.
Yes, your seed is sufficient to get all on-chain and off chain funds back. The lightning Integration of the blockstream wallet is done via greenlight. This means that the node and all it's metadata is running on blockstreams infrastructure, however without keys. Those keys are running in the app. So the node runs the lightning protocol, if the node needs signoff from the keys, i.e., whenever funds move, the request is sent to the wallet, which independently verified it, signs it and sends the result back.
This means that the keys are sufficient to recover funds because all non-derived data is safeguarded on the server.
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Thanks a lot for the clarification. If you don't mind a follow up, what happens if the blockstream server crashes (as a theoretical possibility, however unlikely)?
I can still recover my on-chain coins, I assume, as those UTXOs are in the Blockchain, not on Blockstream?
But my lightning and liquid sats are gone?
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I hope that u had sore in very secure way your seed phrase.
BTW, the better way to have a real self custodial of your bitcoin is had a node and store your seed phrase in an air gapped phone or computer.
On mobile phone is better have a view only wallet.
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Thanks a lot for the advice. How do people pay at a shop (using lightning or on-chain) then? I cannot carry my trezor HWW around, can I?
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