Since one is just another representation of the other, is the entropy for the mnemonic seed and the private spend key exactly the same?
Are there any security benefits of using one over the other for wallet storage and recovery purposes?
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I can't quite decide whether this is a duplicate of monero.stackexchange.com/questions/370/…. The answer is, but the question comes at it from a different angle.– user36303Commented Aug 5, 2016 at 10:54
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1 Answer
The seed is another representation of the private spend key. Because of this, entropy of the seed must equal the entropy of the private spend key.
Wallet recovery is easy with either the private keys or the mnemonic seeds.
The benefit of using mnemonic seeds are that you can in theory memorize them and when entering the data, it is easier to avoid making typos when using words instead of long strings of alphanumeric data.
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1I think some seeds may map to the same private key. This would mean that the seed actually has more entropy then the private key. Commented Aug 5, 2016 at 15:18