Topic: [ANN]TextWallet:A Multi-Cryptocurrency-Cross Platform wallet for Messaging Apps (Read 388 times)

Some Fresh AWESOME NEWS to end 2019. TextWallet is now available on KEYBASE https://keybase.io/
As with TG & Discord you can sync all your platforms to use the same wallets everywhere.
Alston has also added some new cool features like coin price request. Please Check Out Commands Options in Menu.
You can discover KeyBase platform here https://textwallet.org/images/content/keybase.mp4
Link URL to the wallet is: https://keybase.io/textwalletbot
Please make sure to add textwalletbot

The answer is on our website exactly where you saw the fees:

The 6% fees is based on the transaction it will cost us to execute the SMS commands. If for example we have to send you 3 text messages (SMS) for a transaction and 1 SMS costs us 15 Cents like here in Ireland you can easily imagine the kind of fees we will have to cover.

If you read this from a small transaction perspective of 5$ transaction we are not even covering the expenses to send you the 3 sms. Also on our website It's clearly stated that fees will be adjusted according to the cost we have to face based on the service provider fees.

An other example is when you will request sms for 5 different reasons, wallet address, Balance, create wallet or Deposit coins which do not involve a transaction but yet we need to pay the sms fees to the service provider; the fees on sms becomes a tiny price for you to pay for a service that even the big exchanges or wallet names do not offer at all or even have on their roadmap.

Regarding the 1% transaction fee again every platforms have their transaction fees. Try to buy Bitcoins or Litecoins on Coinbase and you will see that their fees are way higher than 1%. When again we are offering you a service that no other big name wallets are offering I believe 1% on transactions is very fair.

We have plans to allow people to manage their fees in a better  way. For example hold a minimum of a certain coin on your textwallet and you will not pay any textwallet fees for some platforms like Discord or telegrm  (apart from sms which involves a direct cost) but only the coin's blockchain fee.

So it's up to people to realize the value we have here on offer and how the fees we planned are more than reasonable as compared to mainstream platforms.

Pay close attention to the fees coinbase charges on the post I shared below from this website :
https://smartphones.gadgethacks.com/how-to/coinbase-101-fees-fine-print-you-need-know-before-trading-bitcoins-other-cryptocurrencies-0181630/

You will see that TextWallet Fees can be considered as very reasonable.

We also have plans to cap the fees on TextWallet for example maximum fees on a transaction is $10.  For now we have only 1% fee charged on transaction because we do not have SMS or other features activated yet.

If you are talking about 10K transaction with 6% fees costing you $600 not $60 nevertheless I invite you to go to your bank and try an international Fiat transfer of 10K and you will see what kind of fees they charge. They do not offer any social media integration or any relevant features that we have here but yet they charge close to 10%.

Again I repeat we have plans to cap the fees. We are not here to make millions at the expense of our users because if so I bet you we would not have any users.

For now we have only 1% fees on our network since we do not have SMS or Other platforms implemented yet, so you do not have much to worry for now about 6% fees.

Thanks a lot for taking the time to review & share your opinion about TextWallet
Regards
TextWallet Team.

Fees for Buying & Selling Cryptocurrencies

As far as fees go, Coinbase charges a small price for both buying and selling in a combination of both fixed and variable fees, depending on the total amount and method of payment or deposit. For smaller purchases and sales, the app charges a flat fee, regardless of whether you're using USD stored in your wallet, a bank account, or a credit/debit card. The fees for small transactions are:

    $0.99 for buying and selling at $10.99 and below
    $1.49 for buying and selling from $11.00 up to $26.49
    $1.99 for buying and selling from $26.50 up to $51.99
    $2.99 for buying and selling from $52.00 up to $78.05

A daring and rather impressive idea for me. But when I see the transaction fee, I think our project is having a big problem.
SMS fees up to 6% of amount transactions, so if I trade $ 10k on SMS, I have to spend $ 60? It is really overwhelming and 1% fee in the app is also quite expensive. Do we have a way to reduce fee over time?

I am asking about security doesn't mean I'm not believe about this projects. just to make it clear about something i do not understand.

Ok that is make it clear, I am not compare your projects, in this case many project has a few metode to secure member data, like Boxcryptor they doesn't save member password because of security reason. Yes, I know how coinbase, exchange and othe r3rd party who don't share user Private Keys. but i not asking about them, just asking about how this project store Private Keys.


Once again, you are look like can't think positive about user question, i don't think you are a scammer or anything else. My reason is "i need to know, what i want to make it clear".


Thank you very much for your answer, it's good enought for me.

On TextWallet Discord we can now use @ mention users instead of full wallet address to transfer coins to other Discord users. For example I could do $send XUN @Cryptododo 10 instead of $send XUN

10
Enjoy

We are happy to announce that you can now access your UltraNote XUN Privatekey with command $privatekey XUN on #TextWallet. (Please Note Privatekeys are  available ONLY in DM with TextWallet Bot)

As mentionned before, if we can provide private keys we will provide them.It is important to realize that the reason why Even Big exchanges like Binance or Coinbase do not provide privatekeys is because the way Bitcoin & their forks are setup.

XUN as well as ZUM Allows their users to hold privatekeys so we have no problem allowing access to them.

Again we are looking to create something genuine, reliable and easily accessible for the crypto community I hope this advancement proves our good faith.

Regards
TextWallet Team

Hi mate. We do not have textwallet coins yet. The coins are on the roadmap to be launched during Q4 of 2019. Please be careful with which token you bought on the market.

For now we are only running the Telegram & Discord wallet.

Please do not trust any token which pretends to be TextWallet Coin/ Token.

Info can be found on TextWallet.Org




We appreciate your interest in TextWallet and your support mate. We cannot promise anything apart from doing what we got to do to make TextWallet be what we envisioned it to be. How market reacts to our services is very subjective.

Best Regards
CryptoD

Just bought some of your tokens, thank you! I hope you are a promising project

To answer your first question please note that we have one of the best security guys in the industry who secured the system & high level pentesters tested the network's security. Wallets are encrypted & we have implemented multiple security layers on our system. We are not in a position to explain further our security measures so I would recommend anyone who does not feel comfortable with our work to stay away from our services. One thing I can do is to invite you to check our website and see for yourself what kind of clients our lead tech developer has in his portfolio you will be able to judge if he is an amateur or not. what we can do is to always improve security on our system and monitor it to the best of our abilities to make sure we are as fast & responsive as we need to if we are under attack.

Regarding privatekeys: As a senior member of Bitcointalk I imagine you are familiar with how 3rd parties wallets work when they run on a server. TextWallet runs on a server otherwise it would be impossible to offer the level of service we do. We have already documented the privatekeys specifications and it's something well documented on specialized crypto platforms as well.

XAPO, Coinbase or Circle for example among multiple other big name wallets do not offer privatekeys for very specific reasons. There are extensive talks about this on Bitcointalk as well as on specialized crypto platforms on why they do not offer privatekeys & what kind of security if offers and don't as well as what kind exposure offering privatekeys involves.

Yes TextWallet tech dev can see privatekeys if he explicitly & manually runs the command to extract privatekeys on the server. When people want privatekeys this is one thing which needs to be considered when Devs want to have privatekeys available or not for their projects. People want to have their privatekey so if they want to get the project listed with privatekey & it's possible to do so we will give the privatekeys. Again Big exchanges & big name wallets do not offer privatekeys & very few eyebrows are raised maybe because they are big names until they mess up like Cryptopia or QuadrigaCX.

On some coins it's possible to have privatekeys on others not. we did extensive research on this subject and our setup was recommended by Core Bitcoin Devs which validates our approach due to how the wallet accounts are setup by the blockchain. Every remote node or service which invokes a server can access your privatekeys if ever the system allows you to have privatekeys. A lot of people think blockchain is magic bim bam boom privatekeys so I am safe bla bla. As long as you are running on a 3rd party service provider and not a core project's wallet there are some risk exposure. the important part is You need to identify a trusted service provider.  Devs & their community need to decide what they want or don't want. When using 3rd party service providers there are always some kind of tradeoffs to consider.

People need to understand that we do our best to offer a world class service here at the best of our abilities & with the tools that are made available to us.We are not looking to reinvent the wheel. we are here to make the wheel better for a smoother ride for everyone. We are not scammers & we do not need to steal people to earn a living.
We charge listing fees to finance our operations, we have a community which understands what we are trying to achieve. We have a genuine reason to do what we are doing. If someone wants to join us and enjoy our services we will be glad to welcome you and your friends. If someone feels that there are reasons to doubt us we respect everyone's opinion. There are plenty of crypto wallets out there. They may not offer what we offer but at least they will most probably better suit your expectations.

Best Regards
TextWallet Team

How you sure your system is more secure than another exchange? What will you do if in real condition your system can be hacked too?

And about private key, it will zero knowladge or it will on your system database too?

we are happy to announce the Fresh Listing of #ZUM Coin
This Listing comes with privatekeys when creating your wallet.
Like we promised and said since the start if we can provide privatekeys we will.

Join us on Discord to request listing of your favorite cryptos:
https://discord.gg/kdtpz6p

Following the increasing interest we received the past few days towards listing on TextWallet; Please note that listing fee is now at 2LTC Taking effect immediately.

We have 2 Coins in the pipeline for listing and fees was already fixed at 1LTC for these 2 projects before the listing fee increase was discussed by TextWallet team.
Projects which did not lock the price until now will be looking at the 2LTC listing fee.

We have no ambition to be expensive & we belive that 2LTC is still a very reasonable listing fee regarding the extent of our roadmap & quality of service.

Listing fee is subject to change at anytime until we have agreed on a listing fee.

we appreciate your business.
Regards
cryptoD

This is a question we have received multiple times over the past week:

Here is the direct answer. TextWallet Developers hold the private keys. Same as exchanges & cryptowallet which run a server.

We are using Bitcoin's RPC wallet same as for every listed coins; as from the depreciation of the accounts feature; the private key gives full access to the platform funds. Please read the link share below.

Our first version when we build & tested TextWallet we had privatekeys available but with current rpc we can't provide them as much as we would like to.

The day there is a way to give users access to the privatekeys, We are certainly migrating to it. And will provide it. Because as much as most people seem to not like this; TextWallet developers do not like it too. Nevertheless we have the ambition to provide a world class service to our communities & we do what we can at the best of our abilities with what are made available to us by Coin Developers.

There are a lot of big name wallets which do not give access to privatekeys to their users for the same reasons we do not give privatekeys & this situation does not prevent these big wallet names & exchanges to deal with billion of Dollars of cryptos everyday. I can tell you we are as secured or even better secured than a lot of these big service providers.

 Textwallet has a server running the show to be able to be used simultaneously on different plarforms like TG, discord & the other upcoming platforms. So privatekeys for bitcoin forks or bitcoin hybrid coins are not available (again I repeat Not our decision: It's how bitcoin and other forks are build) . When we were creating TextWallet our lead tech developer took the time to discuss all privatekeys options with the core Bitcoin Devs to see what could & could not be done for TextWallet. Our protocol is what was recommended by Core Bitcoin Devs and implemented and tested to the best industry standards.

We do not force anyone to use TextWallet or work with us. If someone believes in our vision & our genuine answer regarding privatekeys they are most welcomed to join us. We are a service provider like several others in the industry. We provide a different service which we belive makes more sense regarding the current situation of mass adoption for cryptos.

I am grateful for all your comments & support. Keep the suggestions & questions coming it will help to set everything straight & help the communities.

Regards
CryptoD

More information can be obtained here as well:
https://github.com/bitcoin/bitcoin/issues/3816

very interesting project

for example i have btc in textwallet in discord

who hold private key?

There tons of projects in this industry with vulnerabilities & flaws that 99% of crypto hodlers are not even aware of but nevertheless speak highly of these big crypto names without any concerns. I like people who talks about vulnerabilities because it seems that they know what they are talking about & it opens opportunities to improve things. On our end we have patched all vulnerabilities and tested everything to our best abilities to make sure all is smooth and secure. If you have info that can help please let us know.

How many vulnerabilities have you found or are aware of yourself? Post them publicly and lets talk about it. your comments are welcomed
Regards,
CryptoDodo

Or you can trust exchanges like Binance,Cryptopia, QuadrigaCx or other big names among a lot of others which have been hacked lol

Trust who you think is best for your needs guys. It's your coins your decision.
TextWallet is here to serve & bring change to the industry towards mass adoption.

If you are not comfortable with what we are doing just stay away from TextWallet & we respect that.

Everything has been extensively tested by security experts to provide the optimum level of security & reliability.

As long as there is progress in the industry we are all happy. Like I always say:

TextWallet aim is not to challenge, compete with big names of the industry or be the new coinbase.

We are doing what we believe is right for the industry & mass adoption.
Like my colleague Alston said. Take the time to read about Textwallet on our website & learn about what we are doing & why we are doing this. Bitcointalk is just an announcment platform to let people know we exist. Do not limit your knowledge to just want you read here.

Regards
CryptoDodo

Up to you to use it or not. If you want, read our site (https://textwallet.org) as well as more is described in [our terms](https://textwallet.org/terms.html). And please tell me your concerns... as we're using the original coin rpc wallets as backend.

For us, we just want to make it easy for everyone to get into crypto. We're doing our best so people can access their crypto from everywhere and even without having to download the whole chain of the coin. I can understand that you're not confident with this. But we've limitations on our end based on how the core wallets are built.

You're free to use it if you want. But I do not force you to do anything. For us it's just an idea to help get people into crypto and have them access it easily.

Hi there,

At this moment there is no coin. If you want more info about team etc, check out https://textwallet.org and join our discord (https://discord.gg/2B2buBj)

Thanks,
Alston

It is a nice idea bit i am thinking and worrying about how it could be implemented. The solution you think to have brought comes with a whole lot of vulnerabilities. How many have you found and resolved by yourselves? It is better to leave my coins in an old trusted wallet app than looking for a new wallet without any link to its github repositories and major works.

Information provided is very short, there is no team, there is no information on what the total supply is and there are many more that I don't understand from your project