All tagged security
When developing our COINiD Wallet, we wanted to create something that solved the users’ concerns about the, at the time, existing wallets out there. We wanted a wallet done right. Security became one of our focus points and as crypto owners ourselves, we knew from before where it was lacking and what had to be improved for our future users to trust our wallet with their funds. Following is a brief catch-up on what security aspects we were thinking of when developing our mobile wallet.
Let’s say that you send coins to someone, and that person wants to verify that it is actually you who have sent the coins. That person will probably not approve you just showing them the public address that you sent the coins from, and you should neither show your private keys to anybody else. Luckily, there is a function where you can have a custom signature that can verify your ownership but doesn’t reveal your private keys. Even more luckily, it happens to be a function that we now offer in the COINiD Wallet; sign message.
Security aspects of cryptocurrency is a debate that can be heard every day, and we believe that even for hot storage, users must be comfortable with and trust the wallet they are using. The cold storage solution is indeed what foremost makes us different from many other mobile wallets. However, if you want to spend and receive coins, then you deserve a hot wallet done right as well. Easy, secure and fun! That is what we believe that cryptocurrency should be all about, and that is what we try to reflect in our wallet. Hot or cold.
Welcome to our COINiD article series! In this first piece, we will discuss our most prominent feature; our cold storage solution. When developing our COINiD Wallet, we knew that we wanted one of our outstanding features to be that of cold storage. A mobile hot wallet is very convenient since you always have access to your funds, but with a lot of coins and with no third party as security, you might not want large amounts of funds exposed to an online environment. That all we knew, so what were the existing opportunities for cold storage in mobile wallets?
