Yes, the Everex wallet is secure.
We provide users with 3 options when choosing a level of security
Everex Wallet offers 3 security levels:
- Basic: Limited for balances up to $1,000 USD or equivalent.
Protect transfers by PIN code. The Private key is stored at our server and encrypted by 6-digits PIN code.
- Medium: Limited for balances up to $10,000 USD or equivalent.
The Private Key is encrypted with two encryption keys (one is a Wallet Key stored by a user, the second one saved at Server Node). Private key decrypts for signed transactions only on the client side (browser or mobile app). The Encryption key is available only to the user. Therefore, if a server is compromised, the private keys cannot be exposed without the encryption keys. If the client password is compromised, the hacker cannot obtain private key without the encryption key.
Wallet Key (WK) is sent to the user via email one time. After WK email is sent, it is erased from the server indefinitely. The user must store Wallet Key in a safe and secure place. WK is not recoverable if you lost is.
If the email box is compromised, it will not give access to the wallet if 2FA is enabled.
- Advanced: Limited for balances up to $20,000 USD or equivalent.
The same level as Medium, but Wallet Key is never, even for a short time, stored on our servers and never leaves your device or browser. As a result, Wallet Key can’t be sent by email or SMS. It increases security level, but a user is solely responsible for Wallet Key safekeeping and storage.