Review of Infinito Wallet
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Infinito Wallet was originally launched in 2017 by Infinito Blockchain Labs, a technology company registered in The Isle of Man in the UK. Today it employs a team of over 20 blockchain experts.
Pros & Cons
What can I do with Infinito Wallet?
Infinito Wallet enables new and seasoned users to buy, sell, trade, and even earn interest on crypto coins and tokens. But beyond the basic buying, selling, and trading features, Infinito provides a lot more, such as rewards for staking (holding) coins inside your wallet, analysis of market trends for trade setups, and instant support via a live chat feature.
The platform also allows users to take part in a weekly investment contest; users make trades using demo accounts (risking no money), and the top 5 performers are awarded with a prize. in addition to this, Infinito offers a wallet connect feature which enables you to simply scan a QR code to make or receive payments from almost any blockchain application.
Infinito Wallet supported coins and features
What cryptocurrencies can Infinito Wallet hold?
Infinito is a universal wallet that can hold Bitcoin, Ethereum, Litecoin, Dash, and some 2,000 coins and tokens, including the following:
- Bitcoin Cash
- Ethereum Classic
- SP Token
- LQX Investor Token
What type of crypto wallet is Infinito?
Infinito is a mobile wallet, meaning that it is software based and all your wallet information is stored on your phone, but it also interacts with the internet and uses strong encryption to protect your information.
What other features does Infinito Wallet offer?
Infinito is a feature rich digital wallet with lots of characteristics, including the following:
In partnership with the staking pool Moonstake, Infinito will directly reward you for keeping coins stored inside your wallet. You can also earn additional rewards by actively staking assets operated in Moonstake’s staking pools.
Set up custom alerts to get notified any time a crypto coin or token hits a pre-designated price level or simply changes in value to know when to buy/sell or take profits.
Infinito maintains a secondary marketplace from Nexo where you can lend out your crypto to other users and directly earn interest. The borrower simply deposits crypto-assets as collateral which secures the lender’s investment and the lender receives regular interest payments.
Infinito Wallet costs, fees, and speeds
How much does Infinito Wallet cost?
Nothing, Infinito offers free storage for cryptocurrencies. Your wallet information is stored on your phone, rather than on centralised servers, and can be accessed through Infinito Wallet’s free app.
Does Infinito Wallet charge transaction fees?
Yes. While storing coins in your wallet is free, you will be charged a variable fee depending on the exchange network you use and your transaction volume. These fees are paid to miners on the blockchain and are not additional charges levied by Infinito Wallet.
Infinito also offers a price optimisation feature which lets you set a fixed transaction fee based on the speed you want your transaction completed in. You can save money by selecting a slower transfer speed.
How fast are Infinito’s transfer speeds?
Infinito allows users to manually choose their transaction speed: Economy, Standard, and Express, with each option carrying an escalating fee. The Express is typically instant, while the Economy and Standard options can take 2-3 business days or 24 hours respectively.
The wallet also allows you to manually choose your fee and will use its proprietary price optimisation technology to help you pick the best price while completing your transfer in the fastest time possible.
Are there limits to how much crypto my Infinito Wallet can hold?
No, however there are maximum daily/monthly deposit limits depending on the verification level of your account.
Infinito trading fees
How much are Infinito’s exchange’s fees and commissions?
Infinito recently partnered with Changelly to offer users an instant built-in exchange where you can easily exchange cryptocurrencies.
It charges a standard 0.50% on all crypto exchange transactions with no other additional fees or commissions.
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Infinito Wallet platform
What devices can I use Infinito Wallet on?
Infinito was built as a mobile only wallet available to iOS and Android device holders. At this time it does not offer a desktop or web based service.
- Android mobile and tablet devices
- iOS mobile and tablet devices
Can I use Infinito Wallet in my country?
This wallet is available in over 190 countries worldwide including UK, Germany, France, and US. Select your country from the list below to see if it is available to you.
Is Infinito available in my language?
Infinito currently offers support in 8 languages: English, French, Russian, Chinese, Japanese, Korean, Vietnamese, and Portuguese.
Select your language from the list below to see if it is supported.
How easy is it to use Infinito?
Infinito Wallet’s app is simple, easy to use, and comes loaded with lots of features. This is very attractive to users, as it’s rare for one service to possess all three of these traits.
It is free and easily downloadable to either your Android or iOS mobile device and allows you to access your wallet through a strong private key that ensures nobody else has access to your coins.
Infinito Wallet also has a built-in instant exchange feature, which enables users to seamlessly send and receive crypto without ever leaving the app at the best prices filtered by its proprietary price optimisation technology.
Security and regulation
Is Infinito Wallet secure?
Infinito is a universal wallet with a formidable security architecture that combines facial recognition, passphrase, and password protection. Users keep their own private keys and passphrases, keeping them out of the reach of hackers. The wallet is also hierarchically deterministic in that you can create multiple wallet addresses to mask your public key for added security.
Additionally, the wallet has also been audited by a third-party security auditor, SmartDec. SmartDec determined that hackers can only exploit the minor vulnerabilities found only by having physical access to your mobile device.
Can I back up my Infinito Wallet?
Yes, you can create a passphrase to back up your Infinito Wallet. You will need to set this up at the same time as opening your account.
All you have to do is hit the ‘Start backup’ button to initiate the process. This recovery phrase will be used to restore your information in case you lose your phone or forget your password.
Is Infinito regulated?
No, the wallet is not regulated by any financial regulator. But it has partnered with Coinfirm, a regulation tech company that provides transaction security, such as AML (Anti Money Laundering) and CTF (Counter Terrorism Financing) services.
Do I have to verify my Infinito Wallet?
You don’t have to verify your identity if you’re simply opening a wallet, but you will have to do so when performing crypto transactions. Infinito Wallet abides by KYC and AML best practices when buying, selling, and trading crypto, so identification will be required to use features such as buy crypto with Simplex or Paxful.
Infinito provides a full, multilingual Zendesk powered support section, complete with full FAQ sections on how to sign up for an account, create crypto price alerts, and how to use just about every other wallet feature.
The platform also provides other crypto educational resources via its Medium blog, such as understanding coin volatility and blockchain investing along with monthly platform updates of new and upcoming features.
Infinito Wallet provides a multilingual live chat support option via its website. Additionally, you can also open a support ticket by sending their team an email.
There is no phone support option, but they does seem to provide a fairly good level of support based on online reviews and they are responsive to user issues in these review sections.
Infinito provides a universal wallet and integrated broker service that is feature rich while being technologically sound.
To start, Infinito gives you access to store or transfer over 2,000 crypto coins and tokens, which is one of the best offerings you’ll find on the market. It has a built-in instant exchange in partnership with Changelly, so you never have to leave the app to complete your transaction and a feature to directly buy crypto with fiat directly within the same exchange is currently in the works.
Infinito goes beyond basic functions by operating a secondary marketplace through which you can lend out your Bitcoin, Ethereum, Tezos, and other coins and earn interest for the same. You can also directly earn rewards by staking (holding) coins inside your wallet. Per its website, it has given out more than $262,000 to date through this community rewards program.
Infinito also practices best-in-class compliance protocols such as KYC and AML while providing strong security and a responsive customer support team. It is largely a complete platform except for the fact that it is not regulated.
How to send and receive cryptocurrency with Infinito Wallet
How to send crypto with Infinito
- Click on ‘Buy & Trade’ in the header bar on Infinito Wallet’s website
- Select the type of coin you want to send then enter the quantity you want to send and the platform will calculate your network fee for the transfer
- Agree to the Terms & Condition and click the ‘Swap now’ button
- Enter the wallet address you want to send coins to and your email and click on the ‘Proceed’ button
- You will be given transfer status notifications until your transaction is complete
How to receive crypto with Infinito
- If online you simply need to provide the sender with your wallet address and they will be able to send you coins (you will receive a notification from Infinito that you have received a transfer into your wallet)
- If in person, the sender can simply scan your unique QR code and instantly send you crypto
Infinito Wallet is owned by Infinito Blockchain Labs, a technology company registered in The Isle of Man. The platform was originally launched by Infinito Solutions Pte Ltd, a technology company registered in Singapore.
Infinito makes money by charging a standard 0.50% on all crypto exchange transactions with no other additional fees or commissions.
This will depend on the tax laws in the country or territory where you are located, please check your local tax laws to determine what applies to you.
In case you forget or even lose your phone, your 12-word passphrase will be used to restore your wallet. You set up this passphrase when initially creating your new wallet.
Yes, you can buy or transfer crypto into your Paypal account. You can only send fiat currency to PayPal, however, as the platform doesn’t support crypto.
If the app goes down while you have an open exchange transaction or crypto stored in your wallet, Infinito will continue processing your transaction and provide you with status updates via email and your crypto will appear in your wallet once the service is back up.
Should operations cease altogether, is a self-regulating entity that is not currently overseen by a financial authority. Therefore apart from best practices that Infinito has implemented, your only recourse is legal in nature.
Yes, you have access to your full transaction and can check it anytime from within your wallet. Simply go to the My Assets tab, in the Activity tab, you can view a list of your previous transactions. Click on any transaction to see its full details.
Simply choose the ‘send’ option in your crypto wallet, fill in all the required data and provide an external Crypto wallet address (your Infinito Wallet). You will then receive a QR code to complete the transaction.
Yes, your wallet can hold both Bitcoin and Bitcoin Cash, along with over 2,000 other cryptos.
No, you will be required to download the Infinito mobile app and create an account by providing your personal information such as full name, address, and email address in order to use the wallet.
No, Infinito is a multi-crypto wallet and only holds coins and tokens.
If you would like to permanently delete your account, you must click on the ‘Contact Us’ page above the header on the website and make a formal request via email to: [email protected].
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