Infinito Wallet, a fintech startup registered in the Isle of Man, UK, has launched a multi-asset cryptocurrency wallet allowing users to store major coins and tokens.
Since different coins are based on separate blockchains, until recently, it was impossible to store them at the same wallet address. Sending BTC to an altcoin address, for example, might lead to an irretrievable loss of funds. Users had to manage multiple wallet apps, addresses, and passwords for each coin, cluttering their phone and exposing their portfolio to a higher risk.
A growing list of currencies
Infinito Wallet’s mission is to solve this issue by helping users store, send and receive multiple currencies and tokens. The product supports a growing list of currencies including BTC, BCH, LTC, NEO, GAS, DASH, DOGE, and thousands of ERC20 and NEP5 tokens. It plans to add EOS support in June, as well as RSK, ADA and others in the third and fourth quarter of 2018.
Users will be able to switch between coins without resorting to multiple apps, accounts or passphrases.
According to the company, Infinito Wallet is the first and only wallet that can use a single passphrase for all ERC20 and NEP-5 tokens.
Lately, a few of the new wallets coming out on the market have also offered multi-coin storage. To stand out, Infinito Wallet has introduced additional security features such as touchscreen lock, password protection, private key encryption, and various language support.
Features also include contacts management, allowing users to store a list of frequently used addresses for hassle-free and secure transactions.
Infinito’s wallet connection service is intended for users who need to store, transfer and use cryptocurrencies across different applications, platforms, and services. Remembering and copying multiple addresses for fund transfers takes time and increases the risk of mistakes. The feature removes manual work and enables users to transfer coins from Infinito Wallet to a range of third-party platforms including different exchanges, decentralized applications (Dapps), and various blockchain services, the company says.
Each supported currency in the Infinito Wallet has a specific private key critical for setting up new wallets and sending or receiving funds. Users are encouraged to keep their key written down in a safe place. Infinito Wallet protects private keys with an in-app encryption mechanism, using a password provided by the user without storing any password information itself.
Beyond the initial password protection layer, it requires fingerprint identification to unlock the wallet app. To mitigate the risk of loss of funds in case a password has been compromised, the technology makes sure that the wallet owner is the only one to make important decisions about the destination and storing of funds.
Infinito Wallet users can participate in partner ICOs with the help of a special ICO tab. The latter is intended to protect investors and offer them official ICO information and directions on how to send funds to the ICO company.
The wallet app has recently launched a one-click token integration feature. To protect investors from fraudulent or illegitimate ICOs, it has partnered with a number of selected ICO companies. Scanning a special QR code on a given ICO partner website, wallet holders can import the respective token into their wallet dashboard. The token appears with a Verisign mark indicating that its smart contract is officially verified to belong to the given ICO company. This also simplifies the lengthy process of adding a customized token to a wallet.
Infinito Wallet says its sole objective is to become the world’s market-leading crypto wallet. The company now boasts a team of more than 180 in-house blockchain developers, marketers, researchers and strategic planners.