Introducing ICONOMI Vault
As the cryptocurrency landscape continues to expand, the importance of secure asset storage cannot be overstated. With digital currencies becoming more valuable and widespread, ensuring their safety is paramount.
As the cryptocurrency landscape continues to expand, the importance of secure asset storage cannot be overstated. With digital currencies becoming more valuable and widespread, ensuring their safety is paramount.
We are thrilled to present the ICONOMI Vault, which offers superior protection through cold storage of your crypto asset.
We are thrilled to present the ICONOMI Vault, which offers superior protection through cold storage of your crypto asset.
What is Cold Storage?
Cold storage is the practice of keeping a reserve of cryptocurrencies offline, away from any internet connection. Much different to hot storage, where assets are stored online and accessible via the internet. The primary advantage of cold storage lies in its heightened security, making it significantly less susceptible to hacking, phishing, and other forms of cyber-attacks.
Cold storage provides crypto owners with heightened security, eliminating the risk of online attacks, thus providing an extra layer of security against cyber threats. Additionally, cold storage ensures that your assets are safe from malicious software that could otherwise infiltrate and steal from online wallets. As such, cold storage is the perfect way to hold your cryptocurrency for longer periods of time.
What is ICONOMI Vault?
ICONOMI Vault is our new, state-of-the-art cold storage solution, exclusively available to ICONOMI Private and ICONOMI Premium users. This feature allows you to securely place your Bitcoin and Ethereum assets into cold storage, providing peace of mind and exceptional protection against potential threats.
With ICONOMI Vaults, we provide a seamless transition to cold storage. The process is as simple as copying a Crypto Strategy or buying a single asset on ICONOMI. We handle the entire process of transferring your assets off-chain to a cold wallet. Once there, the assets are kept offline and only accessible once you explicitly permit their access.
How to Access ICONOMI Vault
Log in to your ICONOMI account and head to your dashboard. There, you will see an option to add funds to ICONOMI Vault:
By pressing “Add Funds,” a window will open and take you through the process.
First, you’ll need to select which asset you want to put to cold storage - Bitcoin or Ethereum.
Once you select your asset, you’ll need to specify which asset you want to be used for the transfer. If you have Bitcoin, then no transaction will need to be made, and your Bitcoin will be moved to cold storage. If you don’t have Bitcoin, you’ll need to buy it using a different asset you have. Here, trading fees may apply.
Next, you’ll specify how much of the desired asset you wish to move to ICONOMI Vault. The minimum amount you can move to cold storage is 1000€ worth of either Bitcoin or Ethereum.
Finally, you’ll be able to review the transfer, see the entry fee and any potential trading fees charged, and confirm the transfer.
That’s it! With a few simple steps, you will have transferred your crypto to cold storage, where it will be securely held offline!
Key Information
ICONOMI Vaults is available only for users who choose ICONOMI Private or ICONOMI Premium.
- We charge a custody fee of 0.37% of assets held annually, which is collected daily. Head here to learn more about our fees.
- Due to the nature and heightened security of moving assets to cold storage, the whole transfer may take up to 24 hours to complete.
- Cold storage is currently only available for Bitcoin and Ethereum, with other assets potentially being added at a later date.
- The minimum deposit is 1000€ worth of the asset.
Ready to start your journey with us?
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