Terra Station recovery design should be possible with seed phrase only
In setting up a new Terra Station wallet and transferring a minimal amount of LUNA to the wallet, a momentary malfunction led to loss of password.
On going to “Terra Station: Wallet: Recover existing wallet” I found it requires not only the Seed phrase, but also the password.
This seems contrary to Terra guidelines – and industry practice.
In “Wallet: New wallet: What if I lost my seed phrase?” the warning offered is:
“We cannot recover your information for you. If you lose your seed phrase it’s GONE FOREVER. Terra Station does not store your mnemonic.”
The implied message is:
“If you keep your seed phrase you can restore your wallet” and
“only your seed phrase is required to restore your wallet”.
My understanding of standard crypto wallet practice is precisely that: the seed phrase will restore a wallet, even if you lose everything. Keep a paper seed phrase somewhere safe. It’s a guarantee of access to your funds.
Suggestion: a minor design change to “Wallet: Recover existing wallet” – Eliminate need for Password.
Also: Eliminate need for Wallet Name.
I haven’t checked industry practice, but I can envisage situations where the “Wallet name” might also be lost. I assume ‘best practice’ is that “Seed phrase” is the only information required – thus the mantra: “keep it safe”.
Nevertheless, I can understand the argument that greater security might call for “Wallet name” (and conceivably, “Password”) to be required. However, this should absolutely be specified in the warning “Wallet: New wallet: What if I lost my seed phrase?”
Can this message please be forwarded to the appropriate person(s) involved in Terra Station design.