A good move or stupid idea?

[Royal Cap]

Well the biggest concern is fund recovery. As there is no way to back up the private key with 12 or 24 words, once you lose your device, all your funds are gone for good. Self custody is what cryptocurrencies stand for. The very concept of self custody is about full control of your funds. The ability to deny fund recovery in the name of security goes against this idea, At least  I wouldn't use this for me.

[HajiBagi]

Today or maybe last night, the Keystone company decided to put an end to recovery seed control by the owners, here is the message I got from them.



Tell me friends, how does a seedless architecture sounds to you?

The wallet seed will never leave the chip, that's good but the user never know the seed is quite unique and stupid. I have never known any Bitcoin or cryptocurrency wallet, that does not give private keys or mnemonic seed to users.

With Bitcoin and cryptocurrency, reminders are simple and very similar: It's your key, it's your mnemonic seed, it's your coin.
Another important reminder is always back up your wallet.

Now, Keystore no longer want Keystore users to know about their wallet seed and have ability to back up their wallets. That's speechlessly stupid from the manufacturer and dangerous for users, if you ask my opinion.

I thought it was only me that see that speech sounds stupid, because why will they retired the users seed phrase or wallet back up? What is there plan or what are they planning to do? I have never seen any wallet or any crypto wallet that don’t will not have a back up or seed phrase, i think keystone will have their reasons for doing that but no matter how many excuses they bring, no one will look at what they said and think they sound good, and if this was true, that means many users will want to stop using their wallet, and they lose many customers soon because this does not sound good.

[Die_empty]

I thought it was only me that see that speech sounds stupid, because why will they retired the users seed phrase or wallet back up? What is there plan or what are they planning to do? I have never seen any wallet or any crypto wallet that don’t will not have a back up or seed phrase, i think keystone will have their reasons for doing that but no matter how many excuses they bring, no one will look at what they said and think they sound good, and if this was true, that means many users will want to stop using their wallet, and they lose many customers soon because this does not sound good.

I don't care to know how he got the information. All I care is to verify the authenticity of the information and this is what the Keystone has to say about it.



Op, try to verify every information before taking any action. Thank you for bringing it to public attention. Now you know who you are dealing with and it's good you shouldn't interact with them. If you already click on any link, don't interact further with them.

The message that OP got was not from Keystone. It has been confirmed that it was a phishing attempt.

As a matter of fact, Keystone & Unipass made a merger, and in this article: https://www.prnewswire.com/news-releases/account-labs-emerges-from-unipass-and-keystone-merger-forging-ahead-in-web3-account-abstraction-301829206.html

They created a Seedless wallet by using the social media option as the backup or access without needed some private-key/mnemonic. Still scary, cause these can be more easily compromised.

The issue with the seedless wallet is real. Instead of having a seed phrase that would be used for recovery, a social media account would be the backup. This simply means handing over your funds and access to it to third parties.

[BitMaxz]

If it requested to log in a wallet with wallet ID (got from information sent to your email), and wallet password, and it's inconvenient. Email can be compromised if people don't secure their emails properly.

Fortunately it's possible to back up a blockchain.com wallet for wallet recovery and if people have their wallet recovery seed phrase, they can migrate to other wallets like Electrum wallet.

Like this.
[Guide] Use CPFP if your stucked transactions from blockchain.com wallet.

I don't know how this wallet changed recent years because I've no longer used it.

That wallet ID is the thing that is missing from me. I think it was sent to my old email before, but there's no way to recover my email without my old SIM card number.
I still have a small amount of BTC on my blockchain wallet, and I am trying to recover it using my backup seed, but I no longer have access to email or the required wallet ID to get the exact wallet.

I still want to recover them honestly, because the price of BTC is growing; at least it's still around $600 if I convert them with the current price and possible can increase more on the next ATH.
The worst thing I did in the past was that I gave my SIM card to my kid without maintaining the SIM card balance until it become inactive no signal anymore. I didn't imagine that it would happen in the future that I would need that SIM card again to recover my wallet.
Unlike other wallets that only require a seed phrase backup, you can immediately recover them in other wallets and make a transaction immediately.

If I remember correctly, I also have a wallet.aes.json file from the blockchain, the info wallet, including the seed backup, but that file is no longer in possession after I formatted my laptop before.