Can I Use A Third Party Seed On A CoolWallet?
All the seeds generated from the CoolWallet (Number / Word) adhere to the BIP 39 protocol.
We transfer the English mnemonics into numbers so the App can help to verify the correctness of the seed quicker. This also allows you to perform a simple addition question to verify the correct seed.
If you need to use the number-seed generated from CoolWallet for the recovery on other wallets, simply look up in the mapping table below, find the corresponding English words, and type them in the wallet you wish to use.
Number Seeds to Word Seeds Mapping Table: https://www.coolwallet.io/wp-content/uploads/2020/04/Number-seed-conversion-v1.pdf
However, with the usage of P2WPKH-nested-in-P2SH (BIP141 - SegWit) transactions, it is necessary to have a common derivation scheme (though it allows the user to use different HD wallets with the same master seed and/or a single account seamlessly). Thus, if the wallet created uses dedicated segregated witness accounts, which ensures that only the wallet compatible with BIP49 will detect the accounts and handle them appropriately.
CoolWallet is an HD (Hierarchical Deterministic) that uses the BIP44 derivation path for the SegWit addresses (BIP141), thus, your SegWit accounts (BTC/LTC) may not be detected when you recover the seed on BIP49 supported wallets or vice versa. If the 3rd party wallet, supports the same protocol as the CoolWallet, then wallet data can be recovered interchangeably using the same seed. But, we strongly advise our customers to avoid inputting a 3rd party seed into our CoolWallet for wallet migration as we are unable to guarantee the concealment of the 3rd party seed. The main reason for that is the device that stores the seed may have long been infiltrated.