Upon launching AQUA for the first time, users will be prompted to either create a new wallet or to restore a previous AQUA wallet using their 12-word recovery phrase. This message states that AQUA is only compatible with seed phrases generated in AQUA, however, this is not exactly the case.
All Bitcoin wallets use "derivation paths," a set of standards that determine compatibility between different wallet software offerings. AQUA uses BIP84 derivation paths for Bitcoin and BIP49 derivation paths for Liquid assets, meaning any seed phrase compatible with these two derivation paths can be successfully imported into AQUA.
Since AQUA prioritizes ease-of-use, the disclaimer shown on startup is meant to prevent novice users from importing recovery phrases that may lead to their Bitcoin or Liquid assets not showing properly in AQUA. Some known issues caused by this are: Bitcoin balance is displayed as 0; Bitcoin balance only shows a portion of the user's Bitcoin; or, Liquid assets not supported by AQUA cannot be displayed.
More advanced users are free to import any 12-word set seed phrase, provided it is compatible with the aforementioned BIP84 derivation path for Bitcoin, or BIP49 for Liquid.
In case you experience other problems restoring your wallet, please read this article for troubleshooting.
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