COINiD Crypto Storage Solution Releases Bitcoin Wallet for iOS and Android Early Access


COINiD Releases Early Access Bitcoin Wallet for iOS and Android

A few months after its establishment, Swede startup COINiD Group has announced the availability of its flagship Bitcoin wallet for Android and iOS devices. COINiD is a unique Bitcoin storage solution that offers offline custody of the cryptocurrency’s tokens without obligating the user to acquire specialized hardware. Besides offline storage, the app also integrates a hot wallet functionality that is accessible through a simple, aesthetic and interactive interface.

According to Rikard Wissing, a co-founder of COINiD, their solution is open to all kinds of investors who want to store their Bitcoin offline because it does not need the purchase of expensive hardware wallets. The only prerequisite is a smartphone, a gadget that is affordable to a majority of crypto investors.

The COINiD wallet records the user’s transactions history and balance and enables the user to receive Bitcoins as well as create unsigned Bitcoin transactions. The transactions are then signed through the COINiD Vault using either biometric information or a PIN code. In addition, the COINiD Vault also safeguards the user’s private key.

To enhance accessibility, the COINiD Vault can be installed on the same device as the wallet. Likewise, it can be installed on a separate gadget to enable the wallet to be used as an offline storage solution. In an instance where the vault and wallet are installed on separate devices, they interact using Bluetooth Low Energy (BLE) during the signing of transactions. For this reason, private keys are never vulnerable to hacking.

Features of COINiD Wallet

  • Transaction Batching – the wallet groups and processes transactions as a unit, saving space on the blockchain and reducing transaction fees.
  • SegWit – support off Segregated Witnesses results in affordable fees and smaller transaction sizes.
  • Hierarchical Deterministic –a single set of keys will be usable for several coins and addresses.
  • Cross-platform – will be compatible with several blockchain networks.

Early Access

It is worth noting that the COINiD wallet is available for early access, at least for now. Users who enroll in this service will receive a Testnet version along with a wallet and a COINiD Vault.

General Requirements

  • iOS 9.3 or higher
  • Android 4 or higher

Cold Wallet Requirements

  • iOS 9.3 or higher
  • Android 5 or higher

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