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Ciphrex Wallet Review

Ciphrex Wallet

ciphrex.com

(0 reviews)
Site Rank: 17

mSIGNA is a hierarchical deterministic desktop wallet that supports both Bitcoin and Litecoin. The wallet is developed by Ciphrex. The wallet is open-source and has a strong emphasis on security. Users control their private keys. Users are provided with a master key for backups and passphrase encryption. One of the key features of mSIGNA is the ability of users to store their funds in cold storage. The wallet supports offline signing also. Users can export their private keys to an online wallet for a watch-only wallet where they can monitor transactions and balances in the wallet and use the offline wallet for signing transactions.

The wallet has multi-signature functionality that enables users to set up joint accounts, escrow accounts, and multi-person authentication. With its strong emphasis on security along with the multi-signature functionality, mSIGNA is more suitable for enterprise solutions where there are multiple people involved and funds need to be kept secure. mSIGNA also has capabilities to generate invoices. The wallet is completely free to use and only the normal network fees apply to transactions. The wallet is not overly tailored for beginners. It supports a very limited amount of cryptocurrencies and will be more difficult to use than alternative wallets.

Pros & Cons
  • Hierarchical deterministic
  • Users are in control of their private keys
  • Strong emphasis on security
  • Invoices can be generated
  • Multi-signature functionality
  • Users can store their funds in cold storage
  • Users can create a watch-only wallet
  • Not the optimal wallet for beginners
  • Only supports Bitcoin and Litecoin