Each BIP39-compatible wallet provides public addresses that can be used for a variety of different assets, e.g., various cryptocurrencies, or NFTs. Many wallets refer to these addresses as accounts, but as far as the blockchain is concerned these are simply addresses where digital assets can be deposited. Addresses give you the following benefits: Multiple addresses can store multiple currencies in a single wallet, protected by a single seed phrase. This simplifies how much you need to keep track of. You can have a virtually unlimited number of crypto addresses for receiving purposes, while keeping your seed protected. As an added protection, you can avoid using the first several addresses to further reduce your risk of compromised privacy. Doing an xPub export means you can inspect the balances associated with your addresses without exposing your seed.