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by Nate Urbas

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CoinVault Multi Wallet

www.coinvault.io

(0 reviews)
(0 reviews)
Site Rank: 32

CoinVault is a web-based wallet which supports a number of different cryptocurrencies. With support for over 20 cryptocurrencies, the support is wide than most competitor wallets. CoinVault plans to add more cryptocurrencies going forward. There is no support for fiat currencies. The wallet is for storing, receiving, and sending cryptocurrencies. Exchanges between cryptocurrencies are not supported.

CoinVault put an emphasis on security. Users private keys are encrypted using AES 256-bit encryption and can only be unlocked with the user's wallet password. Network communication is completed over SSL. The wallet is hierarchical deterministic but lacks some features which are common with other wallets. There is no multi-signature functionality. The code is not open source and users do not have the option to enable two-factor authentication.

CoinVault is still in beta which means users should be cautious when using it. Beta products have some or all of the features still in testing which means the product is not 100% stable. It is recommended that any user who uses CoinVault only does so with small amounts. Although, the product is only in beta CoinVault seem to have an emphasis on important features such as security and multi-coin support. There are many options that will be more secure to use due to not being in beta but going forward, CoinVault may be a popular wallet choice.

Pros & Cons
  • Supports multiple cryptocurrencies
  • User data is encrypted
  • Network communication is completed over SSL
  • Hierarchical deterministic
  • The product is still in beta
  • The code is not open source
  • No fiat currencies supported
  • No exchange of cryptocurrencies facilitated
  • No two-factor authentication option