CRYPTO WALLET - vinspace.io

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CRYPTO WALLET

Transcript of CRYPTO WALLET - vinspace.io

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CRYPTO WALLET

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LEGALDISCLAIMER

This document contains confidential information belonging to VIN. This document’s recipient is restricted from editing, sharing, or saving this document without the document owner’s direct intima-tion. Any unauthorized disclosure or distribution of said information from this document is strictly prohibited. Further, VIN, as a company, can press legal charges against anyone who may participate in any

malicious activities. The information contained within this document is for illustrative pur-poses only. The information offered in this document is well-resear-

ched by multiple teams from VIN. The Sales Kit contains information. linked to prices, development stages, business flows, and technical specifications that are subject to future changes. VIN is under no obligation to intimate the reci-pient regarding any updates or changes. made to this document’s content. The updated document shall replace the existing one, bearing

the new/edited content in such changes.

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OVERVIEWThis document provides you a piece of better knowledge and clear-cut explanation of the crypto wallet as it encloses all the features, benefits and services by it. Besides, the sales kit provides necessary information about the technology required to develop a crypto wallet, and it helps you clarify the difficulties you face in understanding the wallet.

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DEF

INIT

ION

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A cryptocurrency wallet is an application where the users can store the cryptocurrencies like Bitcoin, ETH, Lite Coin, etc., and they can make use of it when they make a transaction.

In other words, it is a software program that stores public & private keys and makes the users send & receive the cryptocurrencies using blockchain technology.

Private Keys - It is an alphanumeric password or number used to make a secured transaction from one wallet address to the other.

Public Keys - It is the address that denotes the wallet’s address to receive funds in the wallet.

Sender Wallet Receiver Wallet

Private Key Private Key

Public KeyPublic Key

Everyone can drop the message to

you mail box

Only you can open it using a

key

Public Key Private Key

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TYPE

S O

F C

RYP

TO W

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ET

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There are two different types of crypto wallet that includes: HOT WALLET

A hot wallet is one that requires internet connectivity for storage and easy access to cryptocurrency. Desktop wallet:

These are the wallet installed in the laptops or PC of the user and provides them complete control as it can be accessed only from the installed system. Besides, it is a more secure and convenient wallet.

Mobile wallet:

The mobile wallet is the one that can be installed on mobile phones ( iOS & Android ) and provides ease of transaction using QR code for daily operations.

Web wallet:

It is a wallet that can be accessed anywhere from the world from any device. It is also known as online or digital wallets, where the wallet providers will have complete control over it.

Multi-currency wallet:

These wallets are used to send, receive, and store various cryp-tocurrencies and fiat currencies. Here it accepts deposits in all currencies so that trading can be done efficiently and instantly.

COLD WALLET

A cold wallet is one that can be used to store offline.

Hardware wallet:

It is a device used to store the private & public keys within the hardwa-re, and it can be recovered whenever required.

Paper wallet:

It is a printed form of paper that encloses the public & private keys, and it can be used by other wallets like web & mobile wallets during transactions.

Among the wallets mentioned above, we provide only hot wallets, namely web, desktop, mobile, and multi currency wallets.

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HO

W D

OES

A W

ALL

ET W

OR

K?

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10010101001011001001000101010101010101010

When a sender is ready to send a cryptocurrency to the receiver’s wallet, they will be assigning the ownership of the cryptocurrency to the receiver’s wallet address. If the receiver needs to enjoy cryptocu-rrency ownership, then his private key should match the address to which the currency is assigned. Once it matches, cryptocurrency in the receiver’s wallet increases, whereas the cryptocurrency in the sen-der’s wallet decreases and vice-versa.

Here the ownership will be given with an encrypted message to the receiver’s wallet address in the form of a signature to have a secured transaction. There are two types of signature, and they are namely

•Signature:It is an encrypted form of the sender’s private keys to sign the tran-saction to be sent to the receiver’s wallet address. •Multi-Signature: It is an encrypted form of the sender’s private keys and the re-ceiver’s public key to sign the transaction to be sent to the recei-ver’s wallet.

Sender MulticurrencyWallet

SendingCrypto

PrivateKey

PublicKey

Encryption DigitalSignature

HashingAlgorithm

PublicKey

SignatureValidation

MulticurrencyWallet

(Receiving Crypto)

Receiver

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FEA

TUR

ES

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REGISTER

Users have to create an account by filling up the following fields to get in use with the wallet. The areas may include:

•Name •Email •Password •Confirm Password •Referral Id (optional) •Agree on Terms & Conditions

LOGIN

The users can log in to their account using the Id and password gene-rated after registration. ACCOUNT SETTING

Here, the user can make changes in the specific aspects listed below to have a complete track of his wallet. They are as follows:

•Limit & Feature setting •Send Crypto (Enable/Disable) •Receive Crypto (Enable/Disable) •Trade Crypto(Enable/Disable)

NATIVE CURRENCY

The users can look at all the native currencies available in the wallet and fix their native currency based on the country they operate to make transactions.

•Privacy Policies •Phone Number ( Add/ Remove/ Verify) •Notification (Enable/Disable) •Security •PIN (On/Off) •Biometric (On/off) •Device Authorization (Enable/Disable) •Withdraw Confirmation (Enable/Disable)•Wallet Privacy (Enable/Disable)•Hide Coins (Enable/Disable)

SECURITY

The users can enjoy a high level of security in the wallet as it encloses a

•Two Factor Authentication

Here the user will be asked for two-way authentication i.e. google and

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mail authentication, to log in to the account from other devices.

• Biometric Authentication

Users have to log in to their respective accounts through biometric au-thentication i.e. fingerprint/face recognition, to confirm their login.

• Device Authorization

Wallet holders will receive a mail confirmation to authorize the device they log in for the first time.

• Withdraw Confirmation

The users will receive a mail confirmation when they insist on a with-drawal from their wallet.

MULTY-CURRENCY INTEGRATION

Users will be provided with a list of cryptocurrencies to choose the currency they wish to operate.

KYC VERIFICATION

Here, the wallet holders need to submit certain digital documents to confirm their identity to use the wallet. These KYC documents can be viewed at any time if required.

ASSETS PORTFOLIO

This portfolio can give the users an exact picture of their wallets. It includes:

• Coin List with balance and coin price• Graphical representation of total wallet balance • Total wallet balance in the user’s native currency • Transaction History of each coin

COIN DETAILS

The wallet will provide specific details about the cryptocurrency that the user holds. They are namely:

• Graph and market price • Market status

WALLET

The wallet will provide specific details about the cryptocurrency that the user holds. They are namely:

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• Send & Receive cryptocurrency• Deposit & Withdraw cryptocurrency• Buy & Sell Cryptocurrencies (If Exchange wallet)

MARKET PRICE (EXCHANGE WALLET)

Users can be benefitted from the wallet, as it provides the market price of all the crypto assets that last 24 hours and which assets are tradable at that moment with the details of who is the buyer & seller in the market.

WALLET BACKUP

It holds the backup data which is in the wallet, and it can be restored if needed.

PUSH NOTIFICATIONS

Whenever transactions or updates happen in the wallet, it sends noti-fications to its users in text messages and alerts to get notified by them.

TRANSACTION HISTORY

Wallets have a track record of all the users’ transactions with the de-tailed info of the transactions.

QR CODE SCANNER

Users can make payments, or they can do trading using the QR code for quick transactions.

STAKING

This option is useful for wallet users for

• Exchange wallet: To stake a particular cryptocurrency and get paid for it. • Wallet: Just to hold or store the cryptocurrency in the wallet. ALERT (EXCHANGE WALLET)

A notification will be popping up for market fluctuations, i.e. changes in the real-time market prices will be noted and instigated.

REFERRAL

• Bounty Program• Referral History

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MULTI-LANGUAGE SUPPORT

Global users can use our wallets as they provide multi-language support to keep themselves user- friendly.

FAQ

This session in a wallet will allow the first-time wallet users to get a more in-depth knowledge of the wallet, and it will help them become crypto experts lately.

AUTOMATIC SESSION LOGOUT

Our wallets automatically log-out to end their sessions for a greener and safer wallet experience.

SI.No Page Feature

01 Authentication 1.1 Register1.2 Login1.3 Email confirmation1.4 KYC Verification process 1.4.1 Address 1.4.2 Personal details (Name, DOB, Nationality) 1.4.3 Mobile number confirmation1.5 Verify identity 1.5.1 Choose document (Passport, driving license, national card) 1.5.2 Take selfie/photo 1.5.3 Address confirmation (Bank statement or bill)

02 Dashboard 2.1 Total balance (in USDT)2.2 List crypto (name, symbol, balance)2.3 Notification2.4 Settings2.5 Verification (Status)2.6 Rewards (Points)2.7 Add account2.8 Own Token/ custom token (balance, add, send, receive)2.9 Recent activity2.10 Asset Portfolio2.11 View in explorer2.12 Account details

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SI.No Page Feature

03 Notification 3.1 All Activity3.2 Alert3.3 Push Notification

04 Settings 4.1 Verification Status4.2 Profile (Name & email)4.3 Cryptocurrency4.4 Security 4.4.1 Change password 4.4.2 PIN code 4.4.3 Fingerprint 4.4.4 2FA 4.4.5 Enable screen capture 4.4.6 Biometric authentication 4.4.7 Device authorization 4.4.8 Withdraw confirmation 4.4.9 Device log4.5 Terms & conditions4.6 Privacy policy4.7 Help4.8 About4.9 Contact us4.10 Automatic session logout

05 Add Accounts 5.1 Import5.2 Generate address5.3 Seed phrase5.4 Custom account5.5 Multiple accounts

06 Account Setting 6.1 Limit & feature setting 6.1.1 Send/receive crypto 6.1.2 Trade crypto6.2 Restore account6.3 Custom network setting6.4 Swapping accounts

07 Rewards 7.1 Total Points7.2 Invite link (share)7.3 Recent activity7.4 Bounty program7.5 Referral history

08 Wallet Detail 8.1 Wallet address8.2 Explorer view8.3 Balance 8.4 Send and receive8.5 Swap8.6 Buy own token8.7 Coin details 8.7.1 Graph and market price 8.7.2 Market status

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8.8 Send/receive crypto8.9 Buy & sell crypto8.10 Deposit & withdraw8.11 Wallet backup8.12 Transaction history8.13 Sraking 8.14 Alert & push notification8.15 QR Code scanner8.16 Coin hide or master coin setting8.17 Asset8.18 Activity

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BEN

EFIT

S

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Multi Coin Support in Single Wallet

The wallet will support all cryptocurrencies available in the market. They are compatible with all platforms such as Android, iOS, Windows & Linux to access from any device seamlessly.

Faster Transactions

It is cost-effective as the cryptocurrencies can be transacted quickly due to the elimination of third- party authorization, which reduces its transaction fee compared to traditional payment methods.

User-Friendly Interface

The interface is designed in a way that it can be easily understanda-ble for both beginners and crypto experts in order to have ease of operation.

Crypto Exchanges Integration

The wallets are integrated with various exchanges, helping users buy & sell cryptocurrencies without moving to any exchange platform.

High End Security

We have reinforced a high level of security features such as 2F authen-tication and biometric authentication to provide a secure infrastructu-re for users to send, receive, and store cryptocurrencies.

Eliminate Double Spending

The wallet is automated to detect the user’s duplicate payments and reject them to avoid any charges.

Decentralized Wallet

Usually, wallets are decentralized, i.e., there is no centralized authority to control activities in a wallet.

Swapping/ Cryptocurrency Conversion

The wallet users can swap the cryptocurrency they wish to use while making transactions.

NFC Support

The wallet users need to tap the NFC tags to instigate the exchange with the nearby wallet users without sharing their address. Once the tag is tapped, the transaction is processed automatically.

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P2P Transactions

Wallet users can send & receive cryptos to their peers, and even they can trade with them without the help of an exchange.

Key Recovery

If a user lost the private keys, we could recover them by encrypting the private keys and taking a backup.

Cross Border Transactions

Using a wallet, users can make global transactions without any inte-rruptions.

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SERV

ICES

OFF

ERED

BY

A W

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Custodial Wallet

The wallet can be used by enterprises that require a crypto wallet for their businesses, and we provide it with high standard security featu-res. These wallet holders can encrypt their private keys and back them up on their own.

Non Custodial Wallet

It is mainly built for all the crypto users dealing with various crypto assets in their portfolio, as it helps them manage the assets without expecting any support from the technical expertise. In addition, we can back up the private keys if the users provide permission to encrypt it.

Exchange Wallet

The exchange wallet will hold a high level of security and top-end wallet features with which it is integrated with the exchange to provi-de a user- friendly & reliable platform for the users to perform their trading activity.

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TEC

H S

TAC

K

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Technology:

Platform:

Languages:

Protocol:

Blockchain

Ethereum, hyperledger, frameworks, EOS, binance smart chain, quorum

Smart contract (Solidity), Chaincode (GoLang)

Consensus Algorithm

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FAQ

’S

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01. How to open a cryptocurrency wallet?

The crypto wallet can be opened on mobile, web, or desktop platfor-ms by using the public & private keys once the registration is comple-ted.

02. How to keep cryptocurrency safe?

Users can safely hold the cryptocurrency by storing it in the wallet, requiring a key & an encrypted signature to make any secured tran-sactions. Suppose if the private key is lost, it can be restored using the key recovery.

03. Can the cryptocurrency disappear from the wallet?

It won’t disappear until or unless the users make withdrawals/deposits or send/receive cryptos from the wallet.

04. Why To Create Your Own Cryptocurrency Wallet?

It will keep track of the available balance, the different expenses and let the users hold more than 100 digital currencies at once. It can be used for daily transactions and long term investment, and it can be easily downloaded and installed on smartphones or laptops, or com-puters.

05. How can I enhance the security of my wallet?

Generally, the crypto wallet’s security can be boosted through various processes like biometric authentication, two-factor authentication, and password-protected user access.

06. How to backup the custodial wallet?

The custodial wallet’s users can back up their private keys by encryp-ting them and storing them in their own.

07. Is there is any fee for holding the cryptocurrencies in the wallet? (Non-custodial/Exchange wallet)

No, there is no fee for maintaining the cryptocurrencies in the wallet.

08. Do you have access to our crypto wallet while back-up opera-tion?

The wallet users must provide permission to access their private keys for encrypting the keys and back them up for future use.

09. Is crypto transaction is revertible?

Since it is a P2P network, when a transaction is processed to the wrong wallet address, an invoice will be sent from the sender to the receiver

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to revert the payment.

10. Is it possible to access the mobile wallet in the web browser or any other medium?

The mobile wallets are similar to desktop wallets so that if the user knows the credentials of their mobile wallet, they can access it from any medium.

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