Lykke is a hierarchical deterministic mobile wallet which supports a number of cryptocurrencies. One of the main features of Lykke is supporting in-wallet conversion of cryptocurrencies with zero commission. The wallet supports a number of fiat currencies including CHF, EUR, GBP, and USD. The wallet also supports a number of cryptocurrencies including Bitcoin and Ethereum. Users need to undergo a KYC verification to use the wallet. The KYC process will be a drawback for users who wish to remain anonymous. Users of the wallet are in control of their private keys. The users are provided with a recovery seen in the case that they lose their device. Users can also set a fingerprint or pin for when they need to confirm transactions and to protect access to the app.
The code for the wallet is open-source and the wallet also has multi-signature functionality. There is no option for two-factor authentication. Users have voiced complaints online about the Recaptcha procedure they have to undergo upon logging in. The Recaptcha process has been noted to be very long. Lykke is restricted from some countries. Some key advantages of Lykke are the ability to trade in both fiat currencies and cryptocurrencies and also users own their own private keys.