How to

Profit by storing bitcoins with Eyewallet

Key facts:
  • The form of protection is not through private keys, but through a system of user accounts.

  • Despite presenting itself as a wallet, Eyewallet acts more like an exchange.

This guide is courtesy of Eyewallet.

Eyewallet may look like any other wallet, but it has a few special features. For starters, in addition to storing our crypto assets, Eyewallet provides a Boveda, which would be equivalent to a bank term deposit, where we can generate dividends just by keeping our cryptocurrencies. In addition, the company will enable a P2P stock market within the application, which will start operating in January 2019.

Before delving in, it’s important to point this out Eyewallet is closed source, which means that users cannot verify its operation and, moreover, the way to protect the wallet is not through private keys, but through a system of user accounts. These features seem to indicate that despite posing as a wallet, Eyewallet acts more like an exchange.

Currently Eyewallet It is available exclusively for Android and iOS devices. Download links can be found at main portfolio portal.

Fuente: Wallet for eyes.

Then just go to the app store of our operating system and install the wallet.

Fuente: Wallet for eyes.

When we open the wallet for the first time, we will find this initial screen. Here we are introduced to the various features that we will find in Eyewallet.

To get started, just swipe left until you see the following.

Fuente: Wallet for eyes.

Here we will choose the option whether we want to create a new portfolio or return from an already created portfolio. In our case, we will choose the first option of creating a new portfolio.

As the first step when creating a wallet, we will need to provide a phone number. This number must be active, because we will receive a validation number that we must register in order to proceed to the next step.

Fuente: Wallet for eyes.

In this step we need to enter personal information to complete the registration. Please note that this data is stored on Eyewallet servers.

Likewise, we must be careful with the email we post. This is because it will be the only asset we will need to bring back into the case you want to return it.

Finally, when we have entered all the data, press next Complete registration. It is important to read the terms and conditions of the service before accepting them to proceed.

Fuente: Wallet for eyes.

Finally, we need to set a PIN or security code. This will protect the app we have installed on our device, since it will be necessary to enter each time we open it. On the other hand, if our equipment has biometric security, it will be automatically configured with the fingerprints we have already registered.

Fuente: Wallet for eyes.

Ready! At this point, we have already successfully created a wallet with Eyewallet.

When we first launch the wallet, We immediately enter the portfolio. From here we can manage the funds we keep in the wallet. Likewise, at the top we will see options that allow you to send or receive BTC, or other cryptocurrencies, which we will explore later.

At the bottom we find a menu. In this we will have each of the following sections:

  • Precio: In this section we can see the real-time price of five different crypto assets (Bitcoin, Ethereum, Litecoin, Zcash and Monero).

Fuente: Wallet for eyes.

  • Exchange– is Eyewallet’s own exchange market. This is currently not yet operational. But in the future we can use it to do P2P exchange to buy and sell crypto assets.

Fuente: Wallet for eyes.

  • Purse– This is where we will manage the stored cryptoasset. Let us remind you that the funds are stored in addresses managed by Eyewallet.

Fuente: Wallet for eyes.

  • Boveda: This special section allows you to make deposits and generate dividends as long as they remain deposited in the treasury.

Fuente: Wallet for eyes.

  • Profile: here we will find the personal data we registered when creating the portfolio.

Fuente: Wallet for eyes.

Send and receive funds using Eyewallet

To begin with, we need to go to the Wallet section.

Fuente: Wallet for eyes.

In the middle of this we will see the transactions made from our portfolio. Since the wallet is still empty, we won’t see any transactions.

Also, if we want to get funds, we will have two options: Receive at the top or swipe right.

Fuente: Wallet for eyes.

Here we will find what it takes to receive BTC, in this case. At the top is the public address that we will share to get funding. Also We have the ability to generate QR codes with certain quantities, this allows the amount to be sent to be entered immediately when the QR code is scanned, reducing errors on the part of the sender. For this we just have to enter the amount, either in dollars or BTC (in this case) and press request payment to share the generated request.

On the other hand, it must be kept in mind each generated public address comes from the Eyewallet server. So if we don’t have internet, it won’t be possible to run the app.

In the case of shipping, we still have two options: select at the top Send or swipe left.

Fuente: Wallet for eyes.

Through this form we will be able to make shipments, and we will fill it in the following way.

  • For: destination address. To the right of this option is an icon that allows you to launch the camera to scan the QR code.
  • The concept: is the amount to send expressed in BTC.
  • Priority: related to the amount of mining commission we want to pay. If we set a high priority, we improve the commission and thereby increase the probability that our transaction will enter the next mined block.

Finally we will find the available amount in BTC as well as the total amount to be sent and paid with commission; both expressed in both dollars and BTC, in case we are in the bitcoin section.

To finish sending, simply select Continue. Where we will verify the transaction and proceed to finalize the shipment.

Earn dividends with Eyewallet vault

One of the features of Eyewallet is that it allows you to make a deposit within Boveda y they receive dividends depending on the time these funds are stored.

Dividends that we can realize through the treasury are as follows: 3 months > 3%, 6 months > 7%, 12 months 16%. It is important to note that the deposited funds cannot be transferred until the specified period has passed.

Regarding the policy of using this Boveda have:

  • The minimum deposit amount is 0.01 BTC.
  • The return of the capital will be made only and exclusively when the set deadline is met.
  • We will have 3 business days after the expiration date to make the withdrawal. If the withdrawal request is not executed, the vault will automatically renew with the previously set deadline.
  • Capital returns are made directly to the Eyewallet portfolio.

Now that this is all clear, let’s get down to the nitty-gritty Boveda in the bottom menu.

Fuente: Wallet for eyes.

What we have is a part Boveda. In the middle section you will find all the deposits made in this section.

Fuente: Wallet for eyes.

If we slide to the right, we find information regarding the terms and conditions of the Treasury. Likewise, there is a simulator at the bottom that allows you to calculate profit margins, depending on the deposit amount and duration.

Fuente: Wallet for eyes.

If we slide to the left, we will see a form that allows us to make a deposit. We’ll populate this as follows:

  • Duration: the time we want our funds to be stored. Please note that we will only have 3 days after the deadline to make withdrawals, if we wish to do so.
  • BTC about USD: here we will indicate the amount to be hosted. We can put the amount in dollars or in BTC. At the bottom we will see the mining fee for payment in BTC and in dollars.

Finally, specifically in Total earningswe will see the total amount to be received, i.e. the sum of the deposited amount plus generated dividends.

Now all we need to do is to read and accept the terms and conditions and then choose Continue. This way we will already make a deposit into the Eyewallet vault.

In short, the Eyewallet app is intuitive and special, especially for its Vault. However, we must be very clear that the way money is handled is not the traditional way of private keys, which each user manages independently of any company; but the one used by exchange offices, where the control of money is centralized by them and users must entrust them with such power, just as they do with banks today.

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