What is Conio Bitcoin Wallet?
A Bitcoin Wallet is a software through which Bitcoin can be sent and received. This Wallet is like a physical wallet. However, rather than store a physical currency, the Bitcoin wallet is built to store the cryptographic information (private and public keys) used to access your Bitcoin and make any transaction.
For further information
Unlike traditional digital Wallets, where you own a private key and from which public addresses are created to receive Bitcoin, our custody technology is built on a Multi-Sig 2/3-architecture, namely a security protocol made of 3 private keys, of which 2 are online and 1 is offline. To confirm any given transaction 2 out 3 keys are required. The first key is in your control: it is expressed through the password set and represented by the 12 words; the second key is held online by Conio, while the third key is kept offline and solely used in the event that the user loses his/her private key. Thanks to our technology solution, in fact, you will always be able to recover your Bitcoin in case of loss of your private key.
Generation of addresses
The Conio Bitcoin Wallet has a “tree structure”: with one single private key you can generate an infinite number of public keys and related addresses to receive Bitcoin. The described structure is very important, since each Bitcoin transaction is public and using one single address for all transactions might be a very risky practice which may adversely affect your own privacy. With your Conio Bitcoin Wallet, the said problem no longer exists.