Quote from: xdeltax on August 11, 2017, 11:11:28 AM

Quote from: bambus002 on August 10, 2017, 09:07:55 PM

I know i don't need to "recover funds" in any wallet. It was just a term that i thought will be easier to explain what i mean. I just wanted to hear clear answer - Yes, with this seed from Coinomi you can "recover" your funds at anytime, anywhere, no matter how much different coins you have there.

I don't need to know what tools i need to use to "recover" them now, cuz i have a seed and when i will lose my devices for some reasons then i will be interested in it. Just needed an assurance that having that ONE seed (instead of having one seed from one wallet for one coin) will guarantee me that my funds will never be lost and i will be able to "recover" them when i want.

Your answer is what i wanted to hear but in different words, I hope... Cheesy

:D

Thanks

no, the seed is not enough.

it's just a password from which a software creates private keys. you need to know which algorithm is used to create the private keys.
in other words: you need the seed AND the "manual" how to do operations with this seed to create (or re-create) the private keys.

if you backup the seed, it is the same as if you backup the password to your creditcard, but not the credit card itself.
if you lost the card, you need someone who knows what was on the chip of the card (the banking account numbers) to get back access to your funds.

So i will use this tool https://coinomi.com/recovery-phrase-tool.html to extract my private key for every coin i hold on Coinomi, then i'm 100% sure my funds wil never be lost (if i don't lose these keys of course).

I think everything is clear for me now.

Thanks @gedor, @xdeltax