A simple wallet on your phone that replaces hardware wallets

TLDR: We built a simple wallet to securely store your crypto without a hardware wallet. Looking for feedback!

Background: A friend of mine that's new to crypto recently lost all their NFTs in a scam because they were using one wallet for everything. They weren't deep enough into crypto yet to have a hardware wallet or even a hot and cold wallet. Basically, they needed something that was more accessible, easier to understand, and foolproof.

So we built a wallet for their phone that literally does one thing: store crypto and NFTs securely. You can think of it as a vault, where unlike other wallets, it only allows deposits and withdrawals. For max security, the idea is to have all of your assets in the vault and to use a hot wallet to withdraw and interact with dapps.

To make withdrawals secure, we require 2 step verification with your email or another device you own. We also removed seed phrases for the vault, in favour of recovering your wallet with your 2 step verification devices. Compared to hardware wallets, this is much more accessible (it's free and on your phone) and has many security advantages.

I can go more into the technical details but to keep it short, it's a smart contract wallet that requires multiple signatures and that can be recovered with social recovery. The code is open source here.

Looking to get some feedback! Would you use it? Why or why not?