Is it possible to use the same BIP39 list of seed words to create addresses for different crypto assets? Currently, as a matter of convenience, I'm holding small about of crypto assets on various exchanges.

It's not ideal - I'd much rather store them locally, have access to the private keys, be in full control.

What worries me is that I treat any type of hardware as disposable and I'm worried I might mess up with creating 10+ different backups for each crypto asset.

(backups on Google Drive / Dropbox also don't seem attractive, although probably still better than me - these companies are in business of securely storing data and I generally trust them)

Is it possible to generate BIP39 compatible seed list and then generate private keys and addresses for each cryptocurrency out there?

In that way I'll only have to memorize 12 words and have addresses + private keys for each crypto.

Docs:


https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
BIP 43/44 gives each coin a unique derivation root. Many wallets use this, including some multi-currency wallets.

Be careful when using multiple wallets with the same mnemonic though; the least secure wallet can cause you to lose all your coins, even coins that this wallet doesn't support.