When it comes to creating the best mobile Bitcoin wallet, it totally depends on the people using your application. Not everyone is looking for the same kind of features, yet we all want a simple and clean interface. Most mobile Bitcoin wallets manage to achieve that, and some of them pack a few different things under the hood as well. With that in mind, let’s see what Coinone Bitcoin Wallet brings to the table!
Coinone – Korean Bitcoin Exchange
During discussions about Bitcoin exchanges and which one is the better to use, you hardly ever hear people mention a Korean Based Bitcoin exchange. Not because there is no such thing in existence, but rather because it is limited to Korean Bitcoin enthusiasts only. Coinone might be changing that landscape in the future though.
Regardless of all that, let’s take a look at their mobile Bitcoin wallet. One of the things you may have noticed in the world of Bitcoin and digital currency is how the colors blue and white seem to come by quite a lot. Coinone is no exception in that regard, as their wallet is mainly white and blue, with a black text font. But that’s okay, as these colors are rather easy the eyes.
The main feature of Coinone’s mobile Bitcoin wallet is the option to control your funds. And we are not talking about just your Bitcoin balance here, as you also have the option to deposit fiat currency [KRW] to your account, and exchange it for Bitcoin. Exchanging Bitcoin back to KRW is also possible, but making a fiat currency withdrawal through the mobile app is not possible at this time.
Trading between fiat currency and BTC can be done in your Coinone “Trade Wallet” in the mobile app. But there is also a “Normal Wallet”, which is what most people will be using on a regular basis. Standard options such as sending and receiving BTC are all possible, as you would come to expect by now.
On the topic of mobile Bitcoin wallet security, Coinone offers you a multi-signature-based wallet. In doing so, the end user will have total control over their funds at any given time, regardless of which device they are using. A total of three private keys will be generated, and two of those are needed to complete an outgoing transaction from your wallet.
Coinone will have access to one of these three keys, which is a standard procedure these days. The other two keys will be in control of the end user at all times, and are not stored on Coinone’s servers. Both of the end user’s private keys are encrypted with a passcode – chosen by the user – in order to give you the highest possible level of security.
On top of that, Coinone also offers two-factor authentication for its users. 2FA has become a standard security feature in our everyday life these days, but it is good to see mobile Bitcoin wallet applications forcing the issue a bit, too. Bitcoin allows you take back control of your finances, but you will need to bear all of the responsibilities as well.
You will need Android version 4.0.3 or higher on your device in order to install the Coinone Bitcoin Wallet.
Download: Google Play Store
Images courtesy of Coinone