Product update: Your Bitcoin wallet in the Coinfinity app

Discover our new non-custodial wallet, directly in the Coinfinity app! With the latest update for Android and iOs you can create your own Bitcoin wallet directly in the app. If you don't know exactly what a wallet is, here is a short explanation for you: What is a Bitcoin wallet?

‍

How to activate the wallet in the app

1. Download or update our app:
   Download the Coinfinity app and create an account. If you're already a user, simply update the app in AppStore or Play Store.
   ‍

2. Discover new features:
   After the update, you will see the new “Wallet” item in the menu bar. Here you can create a new wallet or import an existing wallet. We'll focus on creating a new wallet first.
   ‍

‍

3. Create a wallet:
   Press “Create wallet” and follow the instructions. You'll get a custom recovery phrase with 12 random English words. Back up these words and keep them safe. These 12 words are your emergency access to the Bitcoin on this wallet.
   ‍

‍

4. Safety check:
   Confirm a few words from your recovery phrase to ensure that the backup is correct. Your wallet is then created. You can now set up a savings plan or take a closer look at the wallet. Also write down the derivation path, which you can find later in the wallet settings.
   
   ATTENTION: This is just an example recovery phrase! Please do not use the words from this screenshot, just write down the recovery phrase that is generated for you when you create your wallet!
   ‍

‍

The Coinfinity in-app wallet

Our wallet has the usual functions of a wallet app, so you can use it to receive and send Bitcoin as well as carry out consolidations.

• Receive Bitcoin via QR code or by copying your Bitcoin address.

• Send: Transfer Bitcoin to another person or to another wallet. You can adjust the Network fees yourself (Fast/Medium/Slow) or create your own settings. There is also a note field for transaction purposes.

• Settings and information: In the settings menu (config wheel at the top right), you can find more information about the wallet. We will be constantly adding new features here.
  ‍

‍

Buy Bitcoin directly into your own Coinfinity wallet

Buy Bitcoin directly in the wallet via the “Buy” button or in the main menu via the “Plus” button. You can decide whether the purchased Bitcoin should be sent to your in-app wallet or to an external address.
‍

‍

Other future improvements

For the future, we are of course also working on other important features such as: transaction export, RBF (replace-by-fee), autocompletion of the words for BIP39, coin control, Card Wallet sweeps, Taproot, cloud backup, watch-only import, (pay2many).

We're looking forward to your feedback! Which features would you like to see? Get in touch directly via the chat in the app (the small speech bubble at the top right).

‍

Importing wallets

Importing a wallet is possible but should be done carefully. Entering your recovery phrase digitally involves risks. In the future, we will also support importing watch-only wallets so you can plug in your hardware wallet directly. By the way, you can of course also import the recovery phrase of your Coinfinity wallet into other wallets.

‍

Attention!

You are responsible for the wallet that you generate in the app. Coinfinity doesn't have access to your Bitcoin or your Private-Key and the wallet isn't linked to your Coinfinity account. If you delete the app or lose your smartphone, you must restore the wallet with your backup.

‍

We hope you enjoy stacking satoshis with Coinfinity. 🧡

‍

‍

Get the Coinfinity app now and create your own Bitcoin wallet!