Frequently Asked Questions
Company
General
Technology
Security
Coin is a global online digital decentralized network comprised of protocols, smart contracts, products and services that help facilitate the transfer of value across the Internet. It seeks to create an open financial system composed of decentralized solutions that empower consumers to execute financial transactions with freedom and simplicity.
Coin Wallet is an all-in-one decentralized cryptocurrency wallet, exchange, and AI assistant. Coin Wallet includes a native cryptocurrency wallet and exchange for users to store and swap popular digital assets directly with each other. Unlike many other decentralized exchanges, swaps can occur across different blockchains including Bitcoin, Ethereum, ERC20 tokens, and more.
Coin Wallet is non-custodial, lives in a browser extension, and is non-susceptible to hacks as users are the only people that have and can access their funds. For exchanging assets, Coin Wallet uses atomic swap technology to handle direct peer-to-peer transactions across different blockchains. Coin’s integrated AI assistant transforms the traditional financial experience by highlighting and providing insights for blockchain-specific keywords on any web page. Additionally, the Coin AI enables users to execute transactions by simply typing a command in any input field. The combination of decentralized P2P technology, cross-chain interoperability, and AI integration, creates a secure and unparalleled experience to help consumers easily manage their digital assets.
- Store and manage your BTC, ETH, BNB, and COIN
- Native cross-chain exchanges directly with other users
- Completely private and anonymous with no KYC
- AI Integration for data insights and faster transactions
- Seamless conversational user experience
Coin Swap is a P2P cross-chain decentralized exchange that is compatible with any Internet web browser. It utilizes the same atomic swap technology in the Coin Wallet; however, does not include a native wallet and the Coin AI-assistant. This enables users to connect their favorite web3 cryptocurrency wallet (including Coin Wallet) and does not require the installation of a browser extension.
- Native cross-chain exchanges directly with other users
- Completely private and anonymous with no KYC
- Seamless conversational user experience
- Support for popular Web3 cryptocurrency wallets
Coin Staking is a smart contract that enables users to deposit and earn additional $COIN™ rewards by lending their existing holdings. Staked tokens earn rewards and are returned in $COIN™ from the Coin staking reserve.
Coin Governance
Governance rights are a basic feature of Distributed Autonomous Organizations that entitle holders to influence the direction of the related products and services or basic protocol decisions. Governance rights help build community as token holders can be participants in the governance process and ensure decisions are not made solely by centralized parties or individuals.
Coin Governance is a smart contract that enables token holders to vote on the company and community-related decisions. This can include but is not limited to, protocol upgrades, features, exchange listings, and more. Token holders can deposit $COIN™ into the smart contract for an equivalent weighted value in votes. Thus, allowing larger token holders to have a larger influence on all proposed votes.
$COIN™ Token
Central to the Coin ecosystem is the $COIN™ token; a digital cryptonized asset and network access token that will enable holders to execute Coin smart contracts, stake interest, execute governance rights, and more. $COIN™ is a store of value, unit of account, record of investment, the primary means of exchange used to pay for the execution of all smart contract code, and for compensation to liquidity providers/stakers in the Coin ecosystem. $COIN™ also represents a stake in the Coin protocol and is the voting currency for all proposed protocol and platform changes by the community.
Coin Reserve is a pool of tokens that is used as a means to supply tokens to reward long-term stakers of $COIN™. Network revenue will be used for $COIN buybacks and then deposited into the Coin reserve for continuous replenishment to reward stakers (creating a continuous cycle and balanced flow of funds).
Coin XYZ, Inc. is a Delaware registered US entity and is based in New York City, New York. The core of Coin's team including its cofounders are located in the United States. Coin does not outsource any of its business.
Coin charges a .3% fee for swaps to reward the operators (liquidity providers and stakers) of the network itself. Users are also required to pay network fees for each blockchain being swapped. Network fees will vary at any given time-based network activity and congestion. Coin may have additional fees and / or revenue models in the future to support the growth and scaling of its network.
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Coin is a decentralized private network and does not require any user information in order to access and use the network itself. Jurisdictions that require KYC and user data are prohibited from accessing the Coin network.
Coin usernames are a wallet naming system derived by Coin to associate wallet addresses to human-readable names. Coin usernames can be anonymous for security and privacy purposes.
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To improve Coin's artificial intelligence and neural network, our systems gather data from search queries. Have no fear as this information and all products and tools in the Coin network are completely anonymous.
Once you have created an account on Coin, you will have a unique wallet address for each asset. You can supply this unique wallet address to any user to receive funds. Transactions will fail if you supplied your wallet address for a different asset type / blockchain protocol.
Transactions can not be reversed or recovered if you supplied the sender with another user’s address. You can avoid this error if both users are on Coin and the sender uses your name or username to send funds instead of using a wallet address. For example, “send $50 bitcoin to John Doe.”
No. If someone obtains your wallet address, they can view your wallet details on the blockchain or send funds to you without your discretion. This also means that there are no restrictions (geographical, etc.) or limits for any deposits as well. Users are encouraged to protect their own privacy and obey the laws as required by their individual jurisdiction.
Unfortunately not. Once a send request has been submitted, funds are immediately broadcasted on the blockchain for confirmation and delivery. Please be cautious and verify that you are sending funds to a known entity with the correct wallet details.
No.
Send transactions can take a few minutes to complete and deposit into another user’s wallet depending on network speed and congestion on the blockchain.
Atomic swaps are executed on-chain and execute at the speed of the slowest chain. This means that $BTC exchanges will take a minimum of 15 minutes, and a few minutes if the swap is solely for ERC20 tokens.
Coin believes in a digital future where no physical cash exists. Coin does not support converting digital assets back to fiat currencies.
The Coin Wallet browser extension is currently supported on Chrome and Brave. Coin Wallet will be supported in more browsers in the future including Safari, FireFox, Edge, and more.
Coin Swap is currently supported on all popular Internet web browsers including Chrome, Brave, Safari, FireFox, Edge, and more.
Not at this time. The community at Coin is considering the development of a native mobile application in the future. In the meantime, Coin Swap is a fully responsive web application that supports all device resolutions including mobile devices.
At present, the Coin network supports the following protocols:
- Bitcoin
- Ethereum (ERC-20)
- Binance Chain (BEP2)
- Binance Smart Chain (BEP20)
- DAI (ERC-20)
Coin is continuing its development to support additional protocols and tokens in the future.
Coin is a decentralized, non-custodial, and private network. Users are not required to provide any personal information to access and use the network itself. The only data collected and stored on the network are anonymous wallet addresses and Coin usernames (a wallet naming system derived by Coin to associate wallet addresses to human-readable names). Coin usernames can be anonymous for security and privacy purposes. Coin uses Google Cloud services for its infrastructure. For more information on GCS security, please visit: https://cloud.google.com/security
Hash Time-Lock Contracts are digital time-based escrow contracts. HTLC’s are a class of payments that use hashlocks and timelocks to require that the receiver of a payment to acknowledge receiving the payment prior to a deadline by generating cryptographic proof of payment or forfeit the ability to claim the payment (and returning it to the payer).
Coin is a decentralized, non-custodial, and private network. Users are not required to provide any personal information to access and use the network itself. The only data collected and stored on the network are anonymous wallet addresses and Coin usernames (a wallet naming system derived by Coin to associate wallet addresses to human-readable names). Coin usernames can be anonymous for security and privacy purposes. Coin uses Google Cloud services for its infrastructure. For more information on GCS security, please visit: https://cloud.google.com/security
No. The Coin network is completely anonymous, private, and does not collect or store any user information. We take the privacy and security of all humans extremely seriously. We do not, have not, and will never collect or sell any user or network information.
Here are a few factors that make Coin Wallet extremely secure for all users and participants on the network:
- Browser Extension Accessibility Unlike other web wallets, Coin Wallet is a browser extension that must be physically installed for access and use. Unlike a web app that can be penetrated directly over the Internet, a hacker must penetrate and access a user's personal computer or device before even accessing Coin Wallet for any hack attempts. This eliminates and mitigates a large number of attack vectors versus traditional web applications.
- Complete Anonymity Coin does not require user registration, KYC, or gather any personal user details.
- Data Storage In addition to user anonymity, Coin's architecture does not store any wallet data. There are no user databases and data is polled and pulled directly from the blockchain itself. Coin's server infrastructure utilizes Google Cloud services.
- Seed Wallet Encryption User seed phrases are store locally in a user's browser and encrypted using the highest available form of encryption on the market. To access a user's seed phrase, a hacker must penetrate a user's personal system, bypass any personal protection or user passwords, penetrate the user's browser's security, find the hidden seed phrase, and unencrypt it.
Absolutely NOT. Coin is a decentralized, non-custodial, and a private network. All wallets created in the Coin Wallet are non-custodial and only user-controlled to ensure network participants are always in sole possession of their tokens 100% of the time. During exchanges, swaps are facilitated using secure atomic swap smart contracts that involve zero human interaction as well.
Last modified 2yr ago