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The faq says there is intentionally no way to extract the private key due to security. But this means I need a second account in case my phone gets lost - the key of which I once again need to secure.

How is that more secure than letting me backup the private key in the first place?

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The current version is designed for hosted services like GitHub, redeployable infrastructure, and servers to which multiple people have access. We totally understand your use case and are actively working on implementing transferring a key to another device or printing out a paper backup.

That makes sense. Looking forward to the development of your product then!

Not everything needs a key backup. If you create a backup key, you can create it on another device (ideally the one it's going to be used from) and don't have to move it off the phone in a way where it could be exposed (As much as one would think people using stuff like this should know better, I wouldn't be surprised if at least some got the backup off their phone by e-mailing it to themselves or something along those lines)

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