Using the Blockstream Android wallet. I created a new wallet and put some on-chain coins in it, while I also have a back up of the 12 seed words.
Now, suppose in the same wallet, I put some Liquid and Lightning sats (after generating the address/invoice from the app). After that, if the device dies, can I restore all my assets by putting the 12 word seed phrase in a different device, i.e.
- On chain sats (this I believe I can)
- Liquid BTC
- Lightning sats
I am wondering if the phone/device is a single point of failure here even if I keep a paper-copy of the BIP 39.