Introducing T-Wallet

November 25, 2019 STO

We are delighted to announce the new feature on Tokenomica — T-Wallet!

What is T-Wallet

To reduce barriers and provide an easier account set up, we have created a T-Wallet — secure and accessible solution that allows you to store both crypto and smart securities in the same wallet. 2 minutes, no installation of third-party software and a blockchain download.  

Outside of providing an easier account setup, our key priority was to provide the maximum level of security to our users.

To achieve that we’ve decided to encrypt the passphrase with your account password. This way nobody can ever access your wallet and see your passphrase without the password.

T-Wallet stores data on the server encrypted with the AES 256 algorithm in CBC mode. Your Passphrase is not stored anywhere in the open.

E — Encryption; D — Decryption; H — Hashing.

Why you need both the passphrase for your wallet and password for your account.

When creating a wallet, you will be asked to save your passphrase. On regular centralized servers, special attention is paid to the password, which can be changed and reset via email, if the need arises. However, on decentralized platforms such as Tokenomica, everything is arranged differently.

The password you’ve created while registering on Tokenomica protects your account. While the passphrase is the security measure for your wallet. However, since you passphrase is encrypted with your password, there will be no need to enter your passphrase to conduct transactions on Tokenomica.

The passphrase can’t be changed or altered. If you accidentally send it to someone or suspect that scammers have taken it over, then create a new T-wallet immediately and transfer your funds to it.

T-Wallet Supports All Devices

Before the creation of T-Wallet, our users were limited to the number of devices they could use. Due to the availability of Waves Keeper for Google Chrome, Mozilla, Yandex Browser, Edge, Brave and Opera only.

With T-Wallet everything is different, it enables you to invest in companies and trade crypto using your smartphone, tablet or Safari browser, helping you access Tokenomica from any device you want.

Now We Would Like to Guide You Through the Whole Process

First, we need to mention, that now you can have multiple wallets connected to your Tokenomica account. If you previously had a wallet in Waves Keeper connected to Tokenomica and now would like to add T-Wallet to use from your phone, you can easily add it in your profile settings.

First, you will need to name your wallet. The name is visible to you only, so choose whatever you find the most convenient.

You can change the name of your wallet at any time on the Wallet Management page 

After that, you will need to save the passphrase. Please make sure to store it safely and have access to the passphrase, because we won’t be able to restore it for you.

And that’s it! Afterwards, it will take us about a minute to connect your brand new T-Wallet to your Tokenomica account. As soon as your new wallet is created, it will become visible in your profile.

Password Reset

In case you will need to restore your Tokenomica password, you can restore it via email. By doing this, you will restore access to your account, but your wallets will stay locked.

You can restore access to your wallets with the passphrase only. It means that if you lose your passphrase and restore your password you will lose access to all funds.

Another scenario is changing the password from your profile. In this case, your wallets won’t be locked and will stay operational as usual.

In case you will face any difficulties creating your wallet, please don’t hesitate to contact our support portal or ask questions in our Telegram chat. We will be delighted to guide you through the whole process and will resolve any issues if needed.