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Infinito Wallet Review – Full Analysis
There is nothing more dreaded in the crypto world than to lose funds to a buggy or insecure wallet. Just when you thought you are going to hold coins for a while and sell them afterward for profits, your wallet crashes and a bug leads to the loss of all coins.
Fortunately, there are secure wallets for bitcoin and altcoins you can trust to secure your funds. If you love to trade coins using your mobile phone, you may need an app wallet. A mobile wallet secures your coins online and makes it easy to access them on your mobile device.
Unfortunately, mobile wallet apps have their bundle of cons. From bugs to insecurity, it’s not easy to find a mobile app worth using.
Infinito wallet, a mobile app wallet for iOS and Android devices, might be the solution every trader looking for a cryptocurrency wallet needs. Having more than 200,000 downloads with nearly perfect ratings from hundreds of users, there is something about this wallet that has attracted the attention of traders. Below is our Infinito wallet review.
What is Infinito Wallet?
Infinito Wallet is the world’s first multi-asset universal wallet. The wallet comes in form of a mobile application both for Android and for iOS devices. The Infinito Wallet not only offers a large variety of well-known cryptocurrencies, such as Bitcoin, Litecoin, Bitcoin Cash, Ethereum Classic, Dash and Doge but it also allows its users deal with all the tokens that are built on leading smart contract blockchains such as ETH ERC20, NEO, NEP – 5 and EOS. It is worth mentioning that according to the company’s roadmap there are a lot more cryptocurrencies which are going to be supported.
The company behind the wallet is Infinity Blockchain Labs Europe aka IBL Europe, is registered in Isle of Man, the UK and has launched in 2015. The company is a leading research institute and has been on the forefront for offering fully compliant services. The company has partnerships in Japan, Poland, the UK, Hong Kong and Kenya.
Coin Storage Limitations- Do they Limit the Storage?
The Infinito Wallet is centered on user satisfaction. Users hold the private keys to their wallet and can store any amount of coins in their wallets. Infinito also supports all ERC-20 tokens, NEP-5 and EOS tokens, unlike many mobile wallets that don’t support some major tokens.
The wallet is truly universal and puts the focus on listing as many coins as possible.
Currently, the wallet supports major cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum Classic, Litecoin, Dash, Doge, as well as all the tokens that are built on smart contract blockchains such as ETH ERC-20, NEO NEP-5, and EOS. Recently, the Infinito Wallet has announced that supports EOS Mainnet starting from the 7th of June, 2018. A popular coin rarely supported by multi-currency wallets for technical reasons, you can hold your NEO, Bitcoin cash and other altcoins.
Infinito Wallet Verification
The wallet does not require any verification whatsoever. In fact, once you download the wallet, you get the private keys so that you take control of your funds. The only requirement needed to use the wallet is for you to write a 12-word passphrase that you could use in the future should anything happen to your phone or the wallet. You will also be asked to set a password for your account but your ID verification is not needed.
The multicurrency wallet has several unique features you won’t find in many crypto wallets. For security purposes, you can enable finger-print ID support and ensure no one else can access your phone. Additionally, you can access the wallet in several languages.
By the end of third quarter 2018, Infinito will support 12 languages, including Thai, Hindi, Vietnamese, Italian, Portuguese, French, German, Korean, Chinese, Japanese, English and Russian.
Also, Infinito plans to add a price chart for different coins and a way to compare your portfolio without leaving the wallet.
Is Infinito Wallet Safe?
A lot of cryptocurrency traders are cautious when it comes to choosing wallets. They are particularly afraid of hot wallets such as mobile apps because of issues such as bugs and hacking. Here is how Infinito performs based on the most important factors.
Community Trust- are they Reputable?
Infinito is one of the best rated mobile wallets on app stores. With more than 200,000 downloads with an average rating of 4.1 out of 5 on Google Play and App store and nearly perfect ratings on forums.
So, what makes it such a highly rated app? Most users of the app are impressed by its professionally designed and user-friendly interface. They love the ease of managing their accounts and the fact that they get to keep their private keys.
Additionally, the few complaints about Infinito do not revolve around the wallet being a scam or insecure. Many of the unsatisfied users complain about lack of many top 20 coins, lack of ShapeShift integration or issues with an updated version of the app. Other than such complaints, Infinito’s reputation is impeccable.
Keep in mind also that Infinito wallet is barely six months old and will continue to add new features until it’s the most advanced and convenient mobile wallet. For ShapeShift fans, the company has already stated that they don’t plan to integrate ShapeShift for compliance reasons but they will work with complaint exchanges in the future.
The company behind the Infinito Wallet is fully dedicated to the product and made it for utmost security of your coins and tokens. The wallet is developed by a team of dedicated programmers and has little to no bugs in it.
However, that is no proof that it can’t be hacked. Mobile wallets are vulnerable to hacking because they secure your coins online. Fortunately, you have more control over the security of your funds when using Infinito Wallet. To start with, they allow you to store your private keys so that the company can never withdraw your coins.
In addition to storing keys, the wallet allows you to store a passphrase that you use as a backup when you lose your mobile phone or the app. The wallet is also scheduled for open source and anyone can view their code on GitHub from July 2018.
Another important security feature on the wallet is the Touch ID feature that ensures only your fingerprints can be used to access the wallet. Alternatively, you can use the password feature or use both.
One of the many reasons the company has such a high level of community trust is because of their active customer services. The Infinito support team replies fast to every question asked through their email address – email@example.com, social networks and via app stores.
On average, expect a reply from the company’s customer service department within a few hours. However, you can also visit the company’s website – infinitowallet.io to check their Frequently Asked Questions (FAQ) page. They answer lots of questions about the wallet and features they plan to add to it before the year ends.
Ease of use
The wallet is visually attractive based on its professional design and the right use of graphics. Locating the send and receive icon needs no direction and all supported coins are properly labeled.
If you want to receive coins to the wallet, simply click ‘receive’ and an address will be provided.
Setting up the wallet for security does not take a long time and is a matter of a few minutes. Additionally, the recovery phrase is not issued as a one-time offer. If you forget the phrase, it’s retrievable under the settings feature.
How to use Infinito Wallet?
While it’s easy to use this mobile app, it can be confusing for some to set up the Infinito wallet android or iOS version. Don’t worry though as our guide below is everything you need to set the wallet up.
Step 1: Install the app
Step 2: Set up the App
Infinito wallet mobile wallet is designed so that the first thing you do is note down a 12-word recovery phrase. After that, set a login password for your app and enable Finger-print security feature if you want better security.
Step 3: Adding Coins and Tokens
First, you need to click on the “+” sign and then select one of the two tabs – “Coins” or “Tokens”, according to your personal preferences. Then click on the token or coin you want to enable. If you are working with coins you need to click on the “Next” bottom. As for the tokens when you click on them they are automatically added.
Step 4: Send and Receive Funds
In order to send, receive or to check your balance or your activity that refers to a certain cryptocurrency you simply need to select that specific cryptocurrency.
At this point, the activity tab will open up and will show the transactions of the coin. To send the funds you need to click on the “Send” button. Then you need to fill the the “Send to” box and insert the wallet address of the recipient, along with the “Amount” box where you need to input the number indicating the sum you want to send, In addition, you can control your transaction fees by choosing one of the “Economy”, “Regular” and “Premium” services. Then click on “Next” to continue.
In order to receive funds, you need to click on “Receive” button, copy your wallet address from the “My Address” section and paste in the corresponding box.
Infinito Wallet Review Summary
Infinito wallet is a mobile app for securing cryptocurrencies. It’s available on both Google and Apple stores. It stores numerous coins and has a team dedicated to its success by constantly checking for bugs or any other issues. The wallet has a growing user base with mainly positive reviews on all social forums. All the same, Infinito wallet has the following pros and cons.
- The highest number of coins and tokens supported on the market.
- Attractive interface and intuitive, beginner-friendly features.
- Users stay with the keys.
- Provides a recovery phrase, fingerprint support, and passwords.
- The latest update force-closes on Android devices- however, the wallet claims they will fix the issue
- It’s still a hot wallet and it’s not immune to hacks and malware.
As a relatively new wallet, Infinito Wallet is not the most popular wallet out there. There are several other wallets that also provide mobile wallet services. However, the Infinito Wallet proves unique by focusing their services on user satisfaction. There are no charges for using the wallet, their customer services are excellent and there are no limitations as to the amount of coins you can use. This makes the wallet convenient for both beginner users and regular crypto users.
If you love to invest in ICOs, this is a great app for holding ICO tokens. You can add any ICO and Infinito will secure the tokens for you.