Usually, you keep a small amount of money in your wallet or in your debit card, but your savings and other large sums are probably stored in a bank account to make sure your money is in a safe place.
As users of Finansiv you have the ability to distribute your cryptocurrency in different wallets.
The standard virtual wallet is extremely secure and lets you store your funds with no worries, especially if you make regular transactions. The vault wallet however, ensures unprecedented security – just like your bank account.
How is а cold storage Vault more secure than a standard virtual wallet?
Unlike standard wallets, secret keys for cold storage vault wallets are stored only on physical carriers in safes, without ever being connected to the internet.
When you request a withdrawal from your vault we require confirmation and a destination address.
After that we do a full 48-hour check, just to be sure that your user profile isn’t compromised.
It is also possible that you may receive a call from our employees for further confirmation of the withdrawal.
Every transaction from the cold storage wallet requires two signatures to be carried out.
The transaction is first signed by a Finansiv employee like every other standard transaction.
The second and final signature is done on a separate encrypted device, which is never connected to the internet, using the second part of the secret key, located in one of our safes.
Only the Finansiv senior administration has access to the safes.
Without the second signature the transaction cannot be carried out.
By doing so, breaking into Finansiv’s cold storage vault is practically impossible.
Do I need to use the Vault?
The only downside of the vault is that it is not suitable for small sums, which you may happen to need immediately as transactions are manually carried out after 48h.
For security reasons, the 48-hour delay period cannot be avoided.
We recommend the Vault only for sums over €10 000, however Finansiv sets no minimum or maximum limitations on the sums needed for creating and maintaining a cold storage vault wallet.
How much does the vault cost?
Creating a cold storage vault wallet, depositing funds to it and ensuring their security are all completely free for Finansiv users.
You only owe a fee of 0.2% of the amount of every withdrawal from your Finansiv | Vault.