MIMIC updates: safety measures
One of the most important aspect when dealing with financial assets is safety. When you approach a new financial tool for the first time it is fundamental to understand how it works on the security side.
Private keys are saved only locally, on the user smartphone, no sensitive information will be on MIMIC servers.
MIMIC is not a wallet nor an exchange platform. We simply let users connect their smartphone to exchanges through a simple mobile interface. Users have total autonomy on monitoring and managing their funds. Indeed, we are not providing asset management or financial consulting or advisory services.
The connection is made through the API keys provided by the exchange, and the information is stored only locally on the users’ phone. This means that MIMIC servers do not contain users password or private keys. In case of a system breach, hackers will not find any information about users funds and cannot access them in any way. Of course, as you normally do with you wallet for paper money, or crypto money with ledgers, you should keep it safe.
When you download the app, you can choose which exchange you want to connect. If you already have an account, you can scan the QR code of your APIs and it’s done.
In case you want to open a new account, you can just select the exchange and register without having to leave the app.
The best thing is that once you connect your accounts, you don’t need to remember all the different passwords, perform the many scans required and so on, every time you need to access your funds.
It is still complicated to manage the different logins and understand how to connect on every exchange and the differences among them for not so experienced users.
With MIMIC you have everything you need all in the same place, with a single initial login.
There are two questions that usually arise: what if I change my phone? and secondly, what if I lose my phone?
In the first case, you can simply download the app again and reconnect your phone with your accounts. In the second case, you can disable the keys from your exchange accounts.
In the near future we will also develop the pin/password safety measure to reopen the app after the use and afterward the fingerprint access.
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