In order to store various cryptocurrencies including Bitcoin or Ethereum, you must have a ‘virtual asset wallet’.
The wallet is essential not only when using Delio’s lending or deposit services, but also when storing virtual assets.
We would like to introduce Delio’s wallet service that boasts strong security.
l What is a virtual asset wallet?
When it comes to wallets, you often think of things you carry with money, credit cards, and ID cards. It would be easy to understand that a virtual asset wallet literally stores and manages virtual assets such as Bitcoin and Ethereum.
Basically, the virtual asset wallet supports deposit and withdrawal of cryptocurrency, and each company’s wallet has a different withdrawal process.
<Wallet withdrawal Process in general>
In general, virtual asset wallets, wallet service providers ( ‘-wallet’ ) act as withdrawals, so if a hacker tries to hack the wallet service provider, he or she can withdraw customer assets. In addition, theft by insiders of wallet service providers may also occur.
< Delio wallet’s withdrawal process>
However, Delio Wallet adopted a new ‘wallet owner authentication and direct withdrawal’ system in the withdrawal process of existing companies and introduced a safer process for wallet hacking.
The system verifies that the customer is the owner through a security code sent to the owner’s mobile phone when withdrawing a virtual asset, and in this process, Delio cannot participate in the withdrawal of virtual assets, so it has high security.
Delio wallet boasts stronger security than other wallets, even if Delio, a wallet service provider, attempts to withdraw money since withdrawal requires direct authentication of the wallet owner at the blockchain node. Even if Delio is hacked, it is designed so that withdrawals are impossible, so customer can rest assured.
l Give the customer peace of mind with $150 million insurance coverage
Delio Wallet Service is insured for up to $150 million (worth KRW 164.9 billion) for digital assets through a contract with Ledger Vault, a global digital wallet manufacturer.
Marsh, an American risk advisory company, and Arch Insurance Limited, together provide insurance coverage services. Its coverages are :
■ External theft of user’s master seed key and private key
■ Partial seed key transmission error
■ Internal employee theft through a public offering.
If anything goes wrong, we provide insurance for digital assets, so if you are a Delio customer, you can use the wallet service with confidence!
l Technologies that enhance the stability of Delio wallet
The Delio wallet is managed and operated by Delio, Hexlant, and Ledger Vault. The industry’s best technologies were combined to create the Delio wallet. Let’s take a look at the key security technologies.
1) Adoption of Multi-Authorization System
Multi-Authorization System is a technology in which the withdrawal of funds is executed only after three consents (authentication) are obtained from institutions with the authority to execute funds. Delio wallet boasts a stronger asset security system than other authentication systems because it enhances security through PIN number plus OTP authentication, and requires authentication of the user through SMS verification when additional withdrawals are made.
2) Application of Multi-sig technology
Multi-sig technology usually refers to a method of generating 3 private keys (signatures) in the Bitcoin family, and at least 2 of them must be signed before a withdrawal is made. It can prevent accidental withdrawal or individual stealing of virtual assets. And it is evaluated as safe because it is a structure that cannot open an electronic wallet unless all the people holding the key are hacked.
+See how to process withdrawal in Delio wallet
When a customer requests withdrawal from Delio Wallet, 3 user confirmations are required.
Delio wallet with security!
Applied the ‘owner’s SMS authentication withdrawal method’ in which the customer directly approves the final withdrawal when withdrawing.
Plus it is more powerful through the MFA (Multi-Factor Authentication) method using additional authentication methods other than ID and password which are the main targets of hacking.
Stop worrying about your virtual assets’ safety.
Use the virtual asset service conveniently with Delio wallet that combines excellent technology and security.