New Bitcoin Storage Solution With COINiD
Recently, COINiD Group announced the launch of their new Bitcoin storage solution that prioritizes user security, has full SegWit support, allows transaction batching and offers offline storage without the need to purchase specialized hardware.
With COINiD you can choose to store both hot and cold accounts in the same app. Users can set up a hot wallet to store coins for easy access, while the app also offers impenetrable security in an integrated cold wallet where you can store funds offline with the access to a separate iOS or Android device.
Hot and Cold Wallet
How does COINiD work?
COINiD is a bundle of apps, the COINiD Wallet for Bitcoin and the COINiD Vault.The wallet keeps track of the user’s transaction history and balance and allows the user to receive Bitcoins and create unsigned Bitcoin transactions that are to be signed with the COINiD Vault.
The COINiD Vault can be installed on the same device as the COINiD Wallet for easy access, but can also be stored on a separate offline device so that the wallet can serve as a cold wallet. In this situation, the COINiD Wallet communicates with the offline COINiD Vault either via QR codes or BLE (Bluetooth Low Energy). Therefore, private keys are never exposed to an online environment. In the COINiD Vault, the generated addresses can also be validated to confirm that your wallet has not been infiltrated.
The full SegWit support, transaction batching and smart fee estimation minimize transaction fees for the user. The wallet also supports generating and sending to Bech32 addresses.
Fee cost - Batched vs. Unbatched
Highlighted Features
- Transaction Batching: Allows the user to group transactions into one, which saves space on the blockchain and lowers your transaction fees.
- SegWit: Support for Segregated Witness which means smaller transaction sizes and lower fees.
- Hierarchical Deterministic: Use a single set of keys for multiple coins and addresses. When an address is used, a new one is generated.
- Open source: Full transparency towards the user.
Download today to store your funds safely in our new Bitcoin storage solution.
