YardWallet is made by an accomplished universal startup group, headquartered in Singapore and with extra individuals in Beijing and Silicon Valley. The mobile applications have been being developed for almost a year, and are intended to execute the majority of bitcoin’s best privacy, security, and accommodation highlights in a bundle that can be utilised by anybody, even novices. The group likewise works with Yardpay, a Bitcoin installment processor for organisations, and Yuanchuang.me, a Blockchain-based stage for certifying documents.
Through YardWallet’s new mobile Bitcoin application, clients no more need to pick between every day comfort and no-nonsense security highlights. YardWallet’s group have joined the best of all universes: A HD Bitcoin wallet and multisig profound capacity vault, all in an excellent, and human-accommodating configuration. It likewise secures clients’ security and also their bitcoins. There are no usernames or identification needed to set up, only an email address and seed passphrase that permits clients to recoup supports on another gadget utilising the HD standard if theirs is lost or broken. YardWallet is accessible on Apple’s iOS store at this moment, and an Android version is coming soon.
Some of the elements of Yardwallet incorporate upgraded exchange capacities, a multisig vault, and accompanies the advantages of an online mobile wallet.
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Better Transaction Capabilities
Users can avoid sending errors, and keep better records of their transactions, by using their email address instead of bitcoin addresses. For YardWallet, it is a first – this feature has never been seen before in an on-chain, mobile Bitcoin wallet. Using emails is optional and can be toggled on and off for each payment if users want to be anonymous. Email addresses also are encrypted when embedded in transactions for privacy. Since YardWallet is HD, Bitcoin addresses are not reused. This provides even more privacy and avoids serious security issues.
Multisig Vault
YardWallet’s main daily spending wallet is already very safe, protected by multiple layers of security including unlock patterns and transaction passwords. However, it’s YardWallet’s ‘Open Vault’ option that brings the kind of security not usually seen on mobile wallets. This is a true multisig wallet better for storing long-term and larger amounts of bitcoin. It is separate from the daily spending wallet, with a new seed phrase. Users keep two keys and YardWallet stores one (therefore, YardWallet can only approve transactions and not make them).
Advantages of an On-chain Mobile Wallet
The Bitcoin protocol creates so many advantages for security and privacy over standard banking apps and money.
“We believe a local on-chain wallet can deliver a better user experience. Our team has built a fantastic experience into a very sturdy wallet, with all the latest features the bitcoin protocol has to offer,” said YardWallet’s Kun Liu.
Most mobile wallets are hosted, relying on central servers for authentication and storage. This is really no better than many online banking apps people use in daily life. They’re vulnerable to hacking attacks, users’ loss of funds, or identity theft.
Other Features
- There are optional 50-character (max) messages that can be added to transactions, adding convenience by letting users add notes like invoice information, gift wishes, etc. Transaction notes are sent encrypted and can only be seen by the receiver.
- Showing merchants accepting bitcoin and bitcoin ATMs in a user’s local area, so everyone can put YardWallet to use as quickly as possible.
- Supports for most Bitcoin Improvement Protocol (BIP) standards: BIP10, BIP11, BIP12, BIP13, BIP14 , BIP16, BIP17, BIP18, BIP20, BIP21, BIP32, BIP37, BIP38, BIP39, BIP70, BIP71, BIP72 and BIP73.
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