When I was creating keys and addresses on the wallet, I saw 'create wallet'. And below it, I saw 'import wallet'.
When I clicked on create wallet, I saw this:
https://talkimg.com/images/2024/10/04/ikW5f.jpegWhen I clicked on import wallet, I saw this:
https://talkimg.com/images/2024/10/04/ikl13.jpegThese is an encouragement to let people not to know what seed phrase is. Although, if you go to settings, you can click on 'extract private key's to see your seed phrase. I test it with Iancoleman BIP39 tool and it was BIP84 as the address on the wallet is the same as the first address on Iancoleman BIP39 tool.
So the reason I can not use the wallet is because it is close source and it is encouraging people to use passkey in a way newbies might not know what seed phrase is. The passkey is not optional but mandatory while using the wallet.
Correct, for the first version of the App the Passkeys are mandatory, in the next one they wont be.
Thank you for the feedback, we need to present better the option to "Create" and "Import". Btw, import wallet it's a functionality that will be introduced in the next version of the technology as we are still managing to close some implementation to let you use whatever seed phrase you have.
The all thing we are trying to do is incentives people to create an account and a wallet without knowing what a seed phrase is, how to use it and store it. We are trying to make the onboarding, the security, the usability and the restore way easier for people. And in the next version that we will release we will introduce more factors to let you decide how to setup, what risk you have and how secure vs usable is your setup.
Seed phrase won't scale as a method for the mass adoption, that's our (and specifically mine) thesis for the industry
Answer: Thank you for the feedback. The problems we are facing on the app being available worldwide are because our provider for the exchange is not available worldwide and we are about to release it soon. The app as non-custodial could be available worldwide, while for the services inside we need to follow regulations worldwide.
The regional restriction for non-custodial wallets seems pointless.
Some users managed to download the wallet using a VPN. How will you prevent such cases in the future to remain 'compatible' with the exchange provider?
Will the use of the Elysium wallet be subject to passing KYC?
The problem it's on the store prospective, not in the wallet itself. App Store and Play Store won't let use release the app if the provider, in the regions we want to release it, is not regulated. Using VPN is a good way to download the app even if it's not available in your store at the moment, even though when you will need to add funds trough the provider you'll need to do KYC and then only if you are "allowed" you can really buy/sell those assets. As far as sending and receiving trough blockchain the are no limitations
In the future we will need to do some KYC in order to let users use the wallet for some specific tiers.. It's not something that I'm happy about as a Bitcoiner but it's the way the world (and the regulations) are going nowadays. We will think of a lighter KYC at first and then the full KYC (working on finding a tokenized version of it to not let you do KYC multiple times but just once and then re use it every time you need it)
But any feedback will be much appreciated