How does CoinsPaid makes sure my funds are protectedWe implement the best practice of wallet management using 3 types of wallets.
One is the hot wallet. This is a dedicated hosted wallet provided by CoinsPaid. Hot wallets are used for everyday operations.
According to our management algorithms, we move extra funds to our cold wallet to ensure their safety. A hot wallet holds an average 2-4% of all of the assets.
We make sure all of the funds in hot wallets are companys operating funds. So in the very unlikely scenario, there is a hack our clients money is safe offline.
The second type is an external wallet. When the user joins they choose a maximum limit of funds (a small amount) to be kept in CoinsPaid processing system.
Once the limit is exceeded on a merchants balance than the threshold specifies, the funds automatically get sent to a users external wallet, which is off-limits to CoinsPaid.
The other wallet, which is where all of our clients funds are stored, are cold wallets protected from outside influence by 1) the fact that theyre offline and 2) the need two of three of personnel to sign off on transactions (the so-called multi-signature technology).
WEBSITE | FACEBOOK | TWITTER | TELEGRAM CHAT | TELEGRAM CHANNEL | YOUTUBE | INSTAGRAM | REDDITHello, can I have a wallet test operation somewhere? to me need to be studied in more detail in practice ... in general it sounds not bad