Australians looking for a secure, privacy-centric web-based crypto wallet have a new option as popular crypto wallet, Coin.Space, recently announced its expansion into the Oceanian country.
Founded in 2015, U.S.-based Coin.Space is one of the most popular web-based wallets and boasts more than 20 million unique wallets created and more than US$120 billion [AU$176 billion] transacted worldwide.
Speaking about the company’s entry into the Australian crypto market, Coin.Space founder Jonathan Speigner said that he is “ incredibly excited and thrilled to finally be launching our services in Australia after four years in the market.”
“We are going to be providing Australian crypto enthusiasts with a safe, incredibly functional and cutting-edge cryptocurrency wallet.
“We have been exploring the possibility of branching into the Australian market for some time now and to see the efforts of our team come to fruition is a great success for the company,” he added.
In addition to Australia, Coin.Space also supports crypto users in the following countries:
- Czech Republic
- Hong Kong
- South Africa
- South Korea
- United Kingdom
Not just another crypto wallet
Setting up a Coin.Space crypto wallet takes just moments and requires no personal, identifying information from the user.
In addition to Bitcoin, Coin.Space supports popular cryptocurrencies like Bitcoin Cash, Litecoin, Ethereum, Dogecoin, EOS, XRP, and Stellar. It also supports thousands of ERC20 and ERC223-based tokens.
Coin.Space users can easily send and receive crypto payments, exchange cryptocurrencies, and participate in airdrops and ICOs through a “unified wallet address” that can be used to manage all cryptocurrencies within the wallet.
In August of this year, the company added the ability for users to buy Bitcoin in-wallet using Apple Pay and Google Pay as well as most major credit and debit cards.
Your keys, your crypto
The phrase “not your keys, not your crypto” is a mantra that has been drummed into the minds of experienced and new crypto users alike.
Whenever a new wallet is created, a pair of cryptographic keys are created. The first key, the public key, is used to create the wallet’s address. The second key, the private key, is linked to the public key and proves ownership of the wallet – and the funds stored in it.
Crypto exchanges – and most web-based wallets – control the private keys associated with their users’ addresses meaning that they – not their users – control the funds stored at those addresses.
Coin.Space is different in that when a user creates a new wallet, both public and private keys are generated, which can be exported and safely stored.
This gives the user full and absolute control over their crypto funds. It also means that if Coin.Space were to go offline for any reason, users would be able to access their funds.
Security and privacy
In addition to giving users full control over their public and private keys, Coin.Space also includes several additional security features:
- Client-side AES-256 encryption
- Strong default protection with BIP32 and BIP39
- Secure PIN login
- Certificate pinning
Coin.Space is also a major proponent of transactional privacy and has implemented several measures to avoid leaking “valuable metadata” about users and their wallets, including:
- No address re-use
- Supports TOR and VPN
- Avoids linking previous change outputs
Demonstrating further commitment to user privacy, Coin.Space announced at the beginning of November that it had withdrawn from the Facebook Audience Network and would no longer be displaying their ads in its wallet apps.
“A few months ago we stopped showing ads in order to prevent any possibility of improper use of the private data of our customers. We respect the privacy of our customers and want to make sure that our product remains free of invasive advertising,” the company stated.
What’s next for Coin.Space?
Not content to rest on its laurels, Coin.Space plants to continue expanding in order to introduce its privacy-focused crypto wallet to even more users around the world.
“Now that we have our service up and running in Australia, we will be looking towards the future. We are going to work hard to make our services available to people in as many countries as possible so that they can gain the benefits of the Coin Wallet,” said Speigner.
Although no hard date as yet been set, it has been reported that the United States is next on Coin.Space’s expansion list.