FAQs – Frequently asked Questions
Are Cryptocurrency wallets safe?
The level of security depends on the type of wallet you use (desktop, mobile, online, paper, hardware) and the service provider. Online wallets can expose users to possible vulnerabilities in the wallet platform which can be exploited by hackers to steal your funds. Offline wallets, on the other hand, cannot be hacked because they simply aren’t connected to an online network and don’t rely on a third party for security. Remember that no matter which wallet you use, losing your private keys will lead you to lose your money. You must take precautions and be very careful!
As my Wallet does not collect any private keys from your wallets there is no Risk in using our service.
Are cryptocurrency wallets anonymous?
Kind of, but not really. While wallets aren’t tied to the actual identity of a user, all transactions are stored publicly and permanently on the blockchain. Your name or personal street address won’t be there, but data like your wallet address could be traced to your identity in a number of ways. While there are efforts underway to make anonymity and privacy easier to achieve, there are obvious downsides to full anonymity.
What kind of wallet is my Wallet?
my Wallet is designed to simplify trading with different currencies and to easily overview all your coins without having to check every other wallet you have.
So in Fact, we are not really a wallet, where you store your Cryptocurrencies. We are a platform where you can keep track of all your investments without sacrificing security.
Is my Wallet a hot or cold wallet?
my Wallet does not hold your currencies, we simply unite all your different coins into one app. But to answer your question: the difference between a cold wallet and a hot one is this: hot wallets are connected to the internet while cold wallets are not.
Is my Wallet secure?
Yes. The best way to be secure is not to store data, which could be misused in a breach - and we don't store any security relevant data. Even if someone would get a hold of your my Wallet password, he could just see, which coins you hold and how much they are worth. There is no option for selling or transferring coins on our platform and we do not have the data to change that.
Which safety features does my Wallet have?
We use: SSL to protect our website. You can read more about encryption and safety features here.
Will my Wallet stay free of charge in the future?
Yes, of course! We love crypto currencies.
Of course, we need to cover our costs so perhaps there will be advertising and of course you are welcome to support us.
Can I pay with myWallet? / Is my Wallet Payment Protocol Compatible?
No. There is no transfer from your wallets possible with my Wallet.
Which currencies are available to my Wallet?
At the moment we can offer you 100 different cryptocurrencies - and we keep on crawling for new ones. You can klick on my Wallets > Add new Wallets for the complete list of addable wallets.
Depending on the currency, we can automatically crawl your balance. If you ad a new wallet to your account and we only ask you for the address, we will check balance automatically. For the other ones, you need to enter the balance manually.
How many currencies can I put into my Wallet?
The possibilities are endless! We have no limitation on how many different coins you can put inside my Wallet.
Do you collect customer data? / What happens with collected data?