My concern regarding Eidoo - Wallet for ethereum based tokens + ETH

[mobnepal]

I have recently downloaded Eidoo app on my phone tested with few ETH and tokens all works as expected.

There is also option to backup my wallet using 12 word passphrase, ok thats great.

Now I can recover my wallet using those words, but found that it only works with Eidoo wallet itself. So if one day it will be unavailable than where we can recover our wallet.

Went to Myetherwallet tried to recover my ETH wallet using those 12 word passphrase but couldn't as it shows me list of more than 100 of ETH address couldn't find mine there. Also there were many types of wallet to choose from when I was trying to recover my ETH address.

Does anybody have idea whether we can use those backup phrase in other ETH wallets or not like in myetherwallet?

[player01]

As you can read on official FAQs, you can retrieve your Eidoo private keys by using the backup phrase (12 words) through an external tool.

Here you can find the whole guide. It's a simple procedure. https://medium.com/eidoo/how-to-backup-eidoo-private-keys-ce2a7ebdae7f

[swogerino]

As you can read on official FAQs, you can retrieve your Eidoo private keys by using the backup phrase (12 words) through an external tool.

Here you can find the whole guide. It's a simple procedure. https://medium.com/eidoo/how-to-backup-eidoo-private-keys-ce2a7ebdae7f

Even if it is easy in the future Eidoo should provide the option to make the seed or backup phrase like they are calling it to work with different wallets. Take some bitcoin wallets that let you recover even if you lose the wallet, a good example is the Ledger wallet which is a hardware one but you can recover it with the backup phrase in Electrum or Mycellium as long as both wallets have the  same BIP compatibility. That is what Eidoo should do and why not to make a desktop wallet since many Ethereum desktop wallets are not secure.

[squatz1]

As you can read on official FAQs, you can retrieve your Eidoo private keys by using the backup phrase (12 words) through an external tool.

Here you can find the whole guide. It's a simple procedure. https://medium.com/eidoo/how-to-backup-eidoo-private-keys-ce2a7ebdae7f

Even if it is easy in the future Eidoo should provide the option to make the seed or backup phrase like they are calling it to work with different wallets. Take some bitcoin wallets that let you recover even if you lose the wallet, a good example is the Ledger wallet which is a hardware one but you can recover it with the backup phrase in Electrum or Mycellium as long as both wallets have the  same BIP compatibility. That is what Eidoo should do and why not to make a desktop wallet since many Ethereum desktop wallets are not secure.

Yeah, who's to say I should be trusting this random company with my ETH which is conveniently at an ATH like the rest of the cryptocurrency marketplace right now. They SHOULD give people the ability to get their coins in the off chance that they ever go under, it's pretty much like BitGo does it where they allow you to get your coins if they were to go under.

And companies go under all the time in Cryptocurrency, especially ones that are online wallets