Information safety and security

Created by: Coinlytics Support

Modified on: Sun, 12 Sep, 2021 at 12:16 PM

One of our primary goals with Coinlytics was providing a safe and secure environment around the crypto data you care about. The crypto space is rife with scams, fraud and pitfalls and anything you do in the world of crypto should be done carefully and thoughtfully. Even though Coinlytics doesn't let you buy or sell crypto, we wanted to create an experience that makes you feel safe. When you install the app, there is no sign up or login required - just install and go. 

When the app is installed, iOS assigns it a unique ID (e.g. dff894d8-34ac-4c61-8c78-861456f44ed8) - we use that ID to uniquely identify your device and thereby manage your experience. This device ID helps us understand how many individual devices are using the service, as well as how they're using the service - which in turn helps us make Coinlytics better over time. It also helps us uniquely identify devices for alerting purposes (i.e. making sure you get your alerts and not someone else's), but we don't ask for any personally identifiable information such as your name or email address, etc. We do capture the IP addresses of inbound traffic from the app to help us understand where our traffic is coming from and also sift out any unwanted activity. If this is a concern please consider using a proxy or VPN.

There are two other features in Coinlytics related to privacy that we have addressed:

Wallet Balance Alerts: Coinlytics provides an alerting capability where we can monitor the balance of a digital wallet and send you an alert when that balance changes. We do this by analyzing the address of the wallet which is publicly available but contains no personally identifiable information. To enable these alerts, you provide the *public* key of a wallet - these public keys are naturally visible on the blockchain and are what we use to look up a balance. Since we don't track you personally, we have no way of associating a wallet address with you. In addition, a wallet address is 'read only' - we cannot write to it or transact with it - we can only find out it's balance which you can do with tools like this.

Portfolio Tracking: Coinlytics lets you track the value of your crypto holdings. We do this by allowing you to define how much of a coin or token you own and then we report the value of that holding (your balance * the price of the coin). That balance is stored on device and is never sent to our servers. Portfolio balance calculations are performed on device and portfolio holdings are not transmitted at all back to our server. We never see that balance so cannot know how much of any cryptocurrency you own. If you remove the app, that data on your device is permanently removed.

We're new to this space - we know that we have to earn your trust and we're confident we will. If you feel we're lacking in this area please contact us to let us know how we can do better.

Coinlytics is the author of this solution article.

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