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vrolijk | 8 months ago (raw) | root | parent | reply | flag +2 
 it's basically a 2 of 3 signature device: hardware, phone, cloud. 

if you lose your phone and device, you set up a list of trusted contacts that can help you recover your cloud backup with a new hardware

i've been playing around with it, seems cool, even though I'm not still 100% sure what happens if bitkey servers ever go down or the company disappears 

https://support.bitkey.world/hc/en-us/articles/24493244382484-I-lost-both-my-phone-AND-my-Bitkey-hardware-device-What-should-I-do
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nickg | 8 months ago (raw) | root | parent | reply | flag +4 
 It was designed with that in mind, there are ways to still recover your keys without them or move your funds entirely with the break glass method.
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vrolijk | 8 months ago (raw) | root | parent | reply | flag +1 
 been exploring around that scenario, they do give you an "emergency access kit" with a link to the apk file for android in case it becomes unavailable, but...

in order to recover your wallet with a trusted contact you still need a confirmation email / sms confirmation (relying on bitkey hosted servers).

so the scenario where you lose your wallet, your phone and bitkey servers are down, you'll lose your keys (it's an improbable scenario but still a loophole)
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Josh | 8 months ago (raw) | root | parent | reply | flag 
 How is this different than the Ledger Recovery service everyone hates? So, if I understand this correctly, the company is the sole custodian of your seed phrase in the end?
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nickg | 8 months ago (raw) | root | parent | reply | flag +1 
 No they are not, you are the custodian but they provide different recovery options to make it easier if you want them.