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FAQ.md

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Coinfy is a browser based mobile/web app that allows you to manage all of your cryptocurrency wallets and cryptocurrency assets in one place, offering a friendly and intuitive UI.

  • You maintain full control your private keys
  • It's fully anonymous
  • It's open source
  • Hierarchical Deterministic
  • Web based
  • Mobile optimized
  • Manage multiple cryptocurrency assets
  • Easy to use

We believe in a decentralized future where everybody will use cryptocurrencies with decentralized apps. Coinfy aims to offer you the best decentralized wallet, enabling you to manage all your assets.

We will never store any of your data. Coinfy does not use any database and is fully browser based.

We don't have a login nor will we ever ask you for an email.

In sum, Coinfy doesn't know anything about you. The only data we collect is via Google Analytics, tracking the behavior of the users. This data is solely used to help us improve the Coinfy application to the benefit of our users.

Yes, Coinfy is secure. We will never store any private key, Private keys are always encrypted in the browser.

Even if your computer is compromised your private key cannot be accessed because they are encrypted and we only allocate them temporarily in browser-memory.

Any time you need to transact a coin, you will need to type your password to decrypt your private key. While this may seem tedious at first, we understand the importance of security above all else when managing your digital assets.

Other wallets use the same password for all of your assets. Coinfy provides you with the possibility of setting a different password for each asset. Our recommendation is for you to use different passwords.

Each cryptocurrency wallet has its pros and cons depending on what you need. Here's a short comparative overview between Coinfy and other wallets publicly available:

Why choose Coinfy over a desktop wallet such a Exodus, Electrum or Jaxx?

You only need a modern browser when using Coinfy. There are no downloads or updates required. Coinfy lets you have instant access to your wallets directly on your mobile devices, laptop and/or desktop.

Why choose Coinfy over another browser wallet such a blockchain.info, MyEtherWallet or bitaddress.org?

Blockchain.info asks you for an email, and they store your private key for you. MyEtherWallet or bitaddress are more similar to Coinfy as they are browser-based and they do not store any of your data. However, they only support Ethereum and Bitcoin respectively. Coinfy aims to support as many types of cryptocurrencies as possible.

Why choose Coinfy over a hardware wallet such a Trezor or Ledger nano?

The main reason is basically that Coinfy is free.

But hardware wallets are much more secure right?

Yes, they are. If you lose your gadget you may always restore your wallets using your 12/24 words seed. Coinfy operates in the same way: you must print paper-wallets or write down your 12 words each time you create a new asset.

Yes, there are tradeoffs. As we don't store any of your data, it is your sole responsibility to keep your paper wallets or your 12 words seed safe. If you lose them, we are not able to restore your assets.

Currently, we are working on a user interface that lets you save your data properly securely.

We're a small company that believes in a future with cryptocurrencies. We are experimenting and looking to help cryptocurrency professionalize.

At a certain stage, we will implement exchange-based transactions directly within Coinfy. This will help us support the project while maintaining it's free status to an end user such as yourself.