As part of this ambition, we have sought to produce the most secure wallet software available, by integrating several key security measures to ensure you can store your cryptocurrencies on a variety of devices using Coin Wallet — secure in the knowledge your funds will remain safe under any circumstances.
Security Above All Else
Coin Wallet is designed to offer you absolute peace of mind, allowing you to safely manage your cryptocurrencies from the device of your choosing, without having to worry about the possible loss of funds. At Coin, we believe security is a top priority, so we have made securing your wallet as simple as possible.
At the base level, Coin Wallet implements client-side AES256 encryption, ensuring that anybody who gains unauthorized access to your device is unable to access your funds. On top of this, a user-defined 4-digit PIN or biometric authentication (e.g. Touch ID or Face ID) is required to open your wallet, allowing you to interact with and manage your portfolio.
To set a new precedent in mobile wallet security, we also integrated support for the FIDO standard, allowing you to secure the keys to your wallet using any FIDO-certified security key, such as the Yubikey 5, Titan Security Key, or the open-source Solo security key.
Once set up, this security key will need to be connected to your device (or tapped if NFC compatible) to complete any sensitive actions, such as sending coins, changing security settings, or exporting private keys.
Unlike many other mobile wallets, Coin Wallet is completely non-custodial. Your private keys are generated on and stored directly on your device, and never leave it. This means neither we at Coin, nor anybody else has a backup of your private keys.
Fortunately, when setting up Coin Wallet for the first time, you will be provided a BIP39 recovery passphrase. This can be used to recover your Coin Wallet should you lose access to your device or for any other reason. This 12-word passphrase should be kept confidential and stored in a secure location since it will be the only way to recover your funds in an emergency.
The Best of Both Worlds
Though security is our top priority, we also strive to ensure Coin Wallet is the most feature-complete cryptocurrency wallet available. To achieve this, we focus on three key areas of its design: privacy, cryptocurrency support, and efficiency.
Consistent with the belief that transactional privacy is paramount to the growth and adoption of cryptocurrencies, we implemented an array of security layers to ensure you retain your privacy when using Coin. This includes eliminating address reuse, to prevent valuable you from being easily tied to a single address through blockchain analysis.
Likewise, Coin Wallet is fully compatible with both Tor and VPNs, allowing you to route all your transactions through an anonymous IP address to further bolster your privacy.
With support for the most popular cryptocurrencies and tokens, including Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), XRP, Ethereum (ETH), and all ERC20 and ERC223 tokens, Coin Wallet allows you to manage a diverse portfolio from a single application. All of these assets are protected by the same security and privacy layers, allowing you to transact with confidence.
On top of this secure and private interface, we added several features to make interacting with cryptocurrencies a cheaper and more efficient experience. This included built-in exchange functionality, allowing you to exchange between a wide range of cryptocurrencies without leaving the app thanks to our Shapeshift integration.
This is combined with our smart miner fee feature, which allows you to easily select the best transaction fee for your needs — whether you want to prioritize speed over cost or keep fees down to a minimum, Coin Wallet has an option for you.
At Coin, your user experience and opinion are of great importance to us. Because of this, we are always looking for your opinion on what we can do to improve. To send us a suggestion, click here.