I've been hearing a lot of good things about Hive Web as a wallet. Apparently it's pretty secure, open source, and only requires that you keep a 12-word phrase safe. That said, what if they ever decided to shut down Hive Web suddenly? Would all your BTC go down with it, or could you simply spin up an instance of their open-source web server to regain access to your wallet?
You could most certainly spin up your own server :) Included in the Github repo is a Vagrantfile that uses Ansible to deploy and provision an instance of hive-js. This can be handy not only for creating a local test instance, but also for deploying to more public environments such as DigitalOcean or AWS.
Alternatively, because Hive Web implements BIP32/BIP39, other wallets implementing the same standard should allow for compatible 12-word seed phrases to be moved between clients. In addition to being a high priority item for Hive OSX, it seems that most if not all Bitcoin wallet developers are striving to implement these same standards.
If all else fails, you could use something like http://bip32.org/ to manually recover your master extended key and sweep the funds elsewhere.
Hive closed and I have been looking for a way to retrieve my wallet. I used iOS app called Bread Wallet http://breadwallet.com
- Download the app
- Enter your 12-word phrase
- Wait 10-15 minutes as it does the magic
- See your wallet
At this point do whatever you like with your BTC. Convert to another wallet or just user Bread Wallet.