ElseCoins Smart Wallet works on your iPhone,Android Device as well as your Web Browser.
Digital Currencies stored on our servers are fully secured and scam free.
Send and receive digital currencies throughout the world and exchange it with your local currency.
All the sensitive user account data is stored in encrypted format on zero knowledge secure-storage, that makes the data hack proof, even team at Bitindia cannot access your wallet.
Encrypted Keystore backup
a. All the important encryption related to the security of user's cryptocurrency will happen on the client side
b. ElseCoin will not have access to the user private keys and since servers never know your private keys, your web browser or mobile devices encrypts or decrypts your keys on-demand using your passwords.
c. It stores the wallet backups securely in an encrypted format on our servers to ensure you, that you can access your wallet from any of your different devices.
Multi Layer Security
Unlike most of the wallets have only a single security layer to access the account, ElseCoin wallet has multi-layered secured login mechanism.
The users are required to create a login password which cannot be changed once created and further the users will be asked to set up a 2 factor authentication
Whenever a ElseCoin wallet user wants to perform a transaction it can only be done by entering a transaction password which would be different from the login password. This would serve as an added layer of security in case where a user password is lost or stolen.
The transaction will be initiated when both the transaction passwords along with the 2 Factor Authentications are entered.
A mnemonic is the passphrase seed of your ElseCoin Wallet provided to you when you create a new wallet. The purpose of this is in case you need to recover your wallet at a later date, if you lose your login information.
It is a secure account recovery mechanism
If there any kind of changes to be performed in the ElseCoin wallet such as changing the 2FA preference, resetting the transaction password etc.
They can only be completed using the 2FA preference which may be a google authenticator app/ SMS OTP.