Is your wallet safe?
Without getting too technical here’s how it works..
Once you click on ‘create Vimba wallet’, we securely pass on your password to Upvest who create your wallet (don’t worry this is just behind the scenes stuff and you won’t notice any of it as it takes just seconds to complete).
As your actual wallet is stored in an encrypted form, it is not possible to perform any transactions using this wallet without providing your password. This allows you to easily buy and sell cryptocurrencies, without the hassle of securely handling private keys and seed phrases, which you’d normally encounter, dealing with cryptocurrency wallets and blockchain technology.
Upvest stores your wallet in its digital vault, an environment protected by banking grade security standards. Your wallet is much like a safe deposit box at a bank, where only you have the keys to. So in order to perform any transaction, your password is needed to confirm that it’s actually you initiating it.